Lake Park, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Park, GA 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

Lake Park Housing Market Information

With 730 people, 371 houses or apartments, and a median cost of homes of $162,496, Lake Park real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Lake Park, accounting for 72.05% of the city's housing units. Other types of housing that are prevalent in Lake Park include large apartment complexes or high rise apartments ( 9.88%), duplexes, homes converted to apartments or other small apartment buildings ( 8.92%), and a few mobile homes or trailers ( 6.99%).

The most prevalent building size and type in Lake Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.57% owning and 40.43% renting.

There is a lot of housing in Lake Park 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 Lake Park built between 2000 and later ( 26.27%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.05%). There's also some housing in Lake Park built before 1939 ( 7.47%).

Vacant housing appears to be an issue in Lake Park. Fully 10.60% of the housing stock is classified as vacant. Left unchecked, vacant Lake Park homes and apartments can be a drag on the real estate market, holding Lake Park 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.

Lake Park Home Appreciation Rates

Real estate appreciation rates in Lake Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.57% during the period.

NeighborhoodScout's data show that during the latest twelve months, Lake Park's appreciation rate, at 3.68%, has been at or slightly above the national average. In the latest quarter, Lake Park's appreciation rate has been 1.05%, which annualizes to a rate of 4.27%.

Relative to Georgia, our data show that Lake Park's latest annual appreciation rate is lower than 50% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$162,496

Lake Park, GA HOME PRICES

Value Range
> $1,060,000 0.5
$795,001 - $1,060,000 0.0
$530,001 - $795,000 5.8
$424,001 - $530,000 8.9
$318,001 - $424,000 4.0
$212,001 - $318,000 11.3
$106,001 - $212,000 48.6
$53,001 - $106,000 16.8
$0 - $53,000 4.1

High for GA
Average for Nation

Value Relative to Nation Value Relative to State
44.6560412516114 26.0042283298097

Number Of Homes And Apartments:
371

Lake Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
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
34.80% 1.75% 8 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$949 / per month

Homeownership Rate

Homeownership
Owners 59.57
Renters 40.43
Vacant 10.60

Housing Market Details

 

Age of Homes

AGE OF Lake Park HOMES
2000 or Newer 26.3
1970 - 1999 54.2
1940 - 1969 12.0
1939 or Older 7.5

Types of Homes

TYPE OF Lake Park HOMES
Single-Family 72.0
Townhomes 2.2
Small Apt. Buildings 8.9
Apt. Complexes 9.9
Mobile Homes 7.0
Other 0.0

Home Size

SIZE OF Lake Park HOMES
No Bedroom 5.78
1 Bedroom 1.69
2 Bedrooms 19.76
3 Bedrooms 55.90
4 Bedrooms 15.90
5 or more bedrooms 0.96

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Zip Codes in Lake Park, GA