Palatka, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Palatka Neighborhoods Since 2000




Palatka, FL Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Palatka Housing Market Information

With 10,390 people, 3,827 houses or apartments, and a median cost of homes of $84,246, house prices in Palatka are some of the most affordable in Florida as well as the nation.

Single-family detached homes are the single most common housing type in Palatka, accounting for 63.57% of the city's housing units. Other types of housing that are prevalent in Palatka include large apartment complexes or high rise apartments ( 19.04%), duplexes, homes converted to apartments or other small apartment buildings ( 15.09%), and a few mobile homes or trailers ( 1.22%).

The most prevalent building size and type in Palatka are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.30% owning and 56.70% renting.

There is a lot of housing in Palatka 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 Palatka built between 1940-1969 ( 36.12%). A lesser amount of the housing stock also hails from before 1939 ( 11.35%). There's also some housing in Palatka built between 2000 and later ( 8.71%).

Vacant housing appears to be an issue in Palatka. Fully 15.35% of the housing stock is classified as vacant. Left unchecked, vacant Palatka homes and apartments can be a drag on the real estate market, holding Palatka 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.

Palatka Home Appreciation Rates

Homes have actually lost value in Palatka over the last then years, as home values have seen a decline of 34.05% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Palatka home appreciation rates at 1.20%, which equates to an annual appreciation rate of 4.89%.

NeighborhoodScout's data show that during the latest twelve months, Palatka's appreciation rate, at 4.03%, has been at or slightly above the national average. In the latest quarter, Palatka's appreciation rate has been 1.20%, which annualizes to a rate of 4.89%.

Relative to Florida, our data show that Palatka's latest annual appreciation rate is lower 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 Palatka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palatka - 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 Palatka real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$84,246

Palatka, FL HOME PRICES

Value Range
> $1,072,000 0.5
$804,001 - $1,072,000 0.0
$536,001 - $804,000 0.2
$429,001 - $536,000 0.4
$321,001 - $429,000 1.8
$214,001 - $321,000 10.0
$107,001 - $214,000 26.4
$54,001 - $107,000 46.8
$0 - $54,000 13.9

Very Low for FL
Very Low for Nation

Value Relative to Nation Value Relative to State
87.8530411344193 97.4358974358974

Number Of Homes And Apartments:
3,827

Palatka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
32.39% 1.64% 1 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$877 / per month

Homeownership Rate

Homeownership
Owners 43.30
Renters 56.70
Vacant 15.35

Housing Market Details

 

Age of Homes

AGE OF Palatka HOMES
2000 or Newer 8.7
1970 - 1999 43.8
1940 - 1969 36.1
1939 or Older 11.3

Types of Homes

TYPE OF Palatka HOMES
Single-Family 63.6
Townhomes 1.1
Small Apt. Buildings 15.1
Apt. Complexes 19.0
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Palatka HOMES
No Bedroom 1.57
1 Bedroom 17.32
2 Bedrooms 28.36
3 Bedrooms 44.46
4 Bedrooms 6.57
5 or more bedrooms 1.73