Polk City, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Polk City Neighborhoods Since 2000




Polk City, 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

Polk City Housing Market Information

With 1,907 people, 743 houses or apartments, and a median cost of homes of $112,031, house prices in Polk City are solidly below the national average.

Single-family detached homes are the single most common housing type in Polk City, accounting for 61.19% of the town's housing units. Other types of housing that are prevalent in Polk City include mobile homes or trailers ( 27.17%), large apartment complexes or high rise apartments ( 5.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.11%).

The most prevalent building size and type in Polk City are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.91% owning and 38.09% renting.

There is a lot of housing in Polk City 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 Polk City built between 2000 and later ( 14.61%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.25%). There's also some housing in Polk City built before 1939 ( 1.83%).

Vacant housing appears to be an issue in Polk City. Fully 15.18% of the housing stock is classified as vacant. Left unchecked, vacant Polk City homes and apartments can be a drag on the real estate market, holding Polk City 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.

Polk City Home Appreciation Rates

Polk City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Polk City during the period has been just -1.35%, which is lower than 80% of US communities.

Appreciation rates are so strong in Polk City that despite a nationwide downturn in the housing market, Polk City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Polk City appreciation rates continue to be some of the highest in America, at 18.96%, which is higher than appreciation rates in 99.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Polk City. Polk City appreciation rates in the latest quarter were at 3.57%, which equates to an annual appreciation rate of 15.08%.

Importantly, this makes Polk City one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Florida, our data show that Polk City's latest annual appreciation rate is higher than 90% 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 town. Individual neighborhoods within Polk City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Polk City - 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 Polk City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$112,031

Polk City, FL HOME PRICES

Value Range
> $1,369,000 0.0
$1,027,001 - $1,369,000 0.2
$685,001 - $1,027,000 0.3
$548,001 - $685,000 0.5
$411,001 - $548,000 4.4
$274,001 - $411,000 13.2
$137,001 - $274,000 12.7
$68,001 - $137,000 45.1
$0 - $68,000 23.6

Very Low for FL
Low for Nation

Value Relative to Nation Value Relative to State
70.1101605531466 82.6923076923077

Number Of Homes And Apartments:
743

Polk City 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
69.19% 3.10% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,008 / per month

Homeownership Rate

Homeownership
Owners 61.91
Renters 38.09
Vacant 15.18

Housing Market Details

 

Age of Homes

AGE OF Polk City HOMES
2000 or Newer 14.6
1970 - 1999 74.3
1940 - 1969 9.2
1939 or Older 1.8

Types of Homes

TYPE OF Polk City HOMES
Single-Family 61.2
Townhomes 1.0
Small Apt. Buildings 4.1
Apt. Complexes 5.4
Mobile Homes 27.2
Other 1.1

Home Size

SIZE OF Polk City HOMES
No Bedroom 0.34
1 Bedroom 7.76
2 Bedrooms 18.95
3 Bedrooms 64.04
4 Bedrooms 7.99
5 or more bedrooms 0.91