Pratt, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pratt, KS 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

Pratt Housing Market Information

With 6,849 people, 2,850 houses or apartments, and a median cost of homes of $83,386, house prices in Pratt are solidly below the national average.

Single-family detached homes are the single most common housing type in Pratt, accounting for 76.41% of the city's housing units. Other types of housing that are prevalent in Pratt include large apartment complexes or high rise apartments ( 11.02%), duplexes, homes converted to apartments or other small apartment buildings ( 6.64%), and a few mobile homes or trailers ( 4.16%).

People in Pratt primarily live in small (one, two or no bedroom) single-family detached homes. Pratt has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Pratt's housing was primarily built during this period, from the '40s through the '60s. A full 38.14% of the city's housing hails from this era. Other housing ages represented in Pratt include homes built before 1939 ( 33.05%) and housing constructed between 1970-1999 ( 25.54%). There's also some housing in Pratt built between 2000 and later ( 3.26%).

Vacant housing appears to be an issue in Pratt. Fully 11.55% of the housing stock is classified as vacant. Left unchecked, vacant Pratt homes and apartments can be a drag on the real estate market, holding Pratt 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.

Pratt Home Appreciation Rates

In the last 10 years, Pratt has experienced some of the highest home appreciation rates of any community in the nation. Pratt real estate appreciated 19.28% over the last ten years, which is an average annual home appreciation rate of 1.78%, putting Pratt in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pratt definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Pratt's appreciation rate, at 3.21%, has been at or slightly above the national average. In the latest quarter, Pratt's appreciation rate has been 1.04%, which annualizes to a rate of 4.23%.

Relative to Kansas, our data show that Pratt's latest annual appreciation rate is lower than 60% of the other cities and towns in Kansas.

Average Home Values

 

Median Home Value:
$83,386

Pratt, KS HOME PRICES

Value Range
> $1,101,000 2.1
$826,001 - $1,101,000 0.4
$550,001 - $826,000 0.6
$440,001 - $550,000 0.4
$330,001 - $440,000 1.0
$220,001 - $330,000 10.6
$110,001 - $220,000 22.5
$55,001 - $110,000 41.3
$0 - $55,000 21.2

Low for KS
Very Low for Nation

Value Relative to Nation Value Relative to State
88.3745458806985 70.9219858156028

Number Of Homes And Apartments:
2,850

Pratt Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
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
48.45% 2.32% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$907 / per month

Homeownership Rate

Homeownership
Owners 58.41
Renters 41.59
Vacant 11.55

Housing Market Details

 

Age of Homes

AGE OF Pratt HOMES
2000 or Newer 3.3
1970 - 1999 25.5
1940 - 1969 38.1
1939 or Older 33.1

Types of Homes

TYPE OF Pratt HOMES
Single-Family 76.4
Townhomes 1.8
Small Apt. Buildings 6.6
Apt. Complexes 11.0
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Pratt HOMES
No Bedroom 0.59
1 Bedroom 14.37
2 Bedrooms 36.47
3 Bedrooms 27.81
4 Bedrooms 15.83
5 or more bedrooms 4.93

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