Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 82,341 people, 36,279 houses or apartments, and a median cost of homes of $307,240, Largo real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Largo, accounting for 31.59% of the city's housing units. Other types of housing that are prevalent in Largo include single-family detached homes ( 28.39%), mobile homes or trailers ( 26.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.12%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Largo primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Largo has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Largo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Largo built between 1940-1969 ( 22.20%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.50%).
Vacant housing appears to be an issue in Largo. Fully 21.32% of the housing stock is classified as vacant. Left unchecked, vacant Largo homes and apartments can be a drag on the real estate market, holding Largo real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Largo has experienced some of the highest home appreciation rates of any community in the nation. Largo real estate appreciated 207.41% over the last ten years, which is an average annual home appreciation rate of 11.88%, putting Largo in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Largo definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Largo that despite a nationwide downturn in the housing market, Largo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Largo appreciation rates continue to be some of the highest in America, at 21.97%, which is higher than appreciation rates in 99.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Largo. Largo appreciation rates in the latest quarter were at 2.14%, which equates to an annual appreciation rate of 8.84%.
Relative to Florida, our data show that Largo's latest annual appreciation rate is higher than 80% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Largo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Largo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Largo real estate investment or home purchase decisions.
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