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 a population of 10,433, 4,097 total housing units (homes and apartments), and a median house value of $293,115, Lambertville 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 Lambertville, accounting for 91.95% of the town's housing units. Other types of housing that are prevalent in Lambertville include row houses and other attached homes ( 4.11%), duplexes, homes converted to apartments or other small apartment buildings ( 2.84%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lambertville. Owner-occupied housing accounts for 93.01% of Lambertville's homes, and 82.91% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lambertville 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 Lambertville built between 1940-1969 ( 29.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.95%). There's also some housing in Lambertville built before 1939 ( 8.68%).
Real estate appreciation rates in Lambertville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.93% during the period.
NeighborhoodScout's data show that during the latest twelve months, Lambertville's appreciation rate, at 6.43%, has been at or slightly above the national average. In the latest quarter, Lambertville's appreciation rate has been 2.96%, which annualizes to a rate of 12.36%.
Importantly, this makes Lambertville 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 Michigan, our data show that Lambertville's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$293,115
for Michigan
for nation
4,097
$1,385 / per month