Silver Springs, NV
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Silver Springs, NV Real Estate Data


Silver Springs Housing Market Information

With a population of 5,294, 2,114 total housing units (homes and apartments), and a median house value of $143,723, Silver Springs real estate and house prices are near the national average for all cities and towns.

Mobile homes or trailers are the single most common housing type in Silver Springs, accounting for 50.12% of the town's housing units. Other types of housing that are prevalent in Silver Springs include single-family detached homes ( 44.54%), large apartment complexes or high rise apartments ( 2.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.80%).

Owner-occupied, three and four bedroom dwellings, primarily in mobile homes or trailers are the most prevalent type of housing you will see in Silver Springs. Owner-occupied housing accounts for 78.08% of Silver Springs's homes, and 69.05% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Silver Springs 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 Silver Springs built between 2000 and later ( 25.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.71%).

Vacant housing appears to be an issue in Silver Springs. Fully 17.49% of the housing stock is classified as vacant. Left unchecked, vacant Silver Springs homes and apartments can be a drag on the real estate market, holding Silver Springs 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.

Silver Springs Home Appreciation Rates

Homes have actually lost value in Silver Springs over the last then years, as home values have seen a decline of 29.65% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Silver Springs home appreciation rates at 3.50%, which equates to an annual appreciation rate of 14.75%.

Appreciation rates are so strong in Silver Springs that despite a nationwide downturn in the housing market, Silver Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Silver Springs appreciation rates continue to be some of the highest in America, at 9.78%, which is higher than appreciation rates in 97.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Silver Springs. Silver Springs appreciation rates in the latest quarter were at 3.50%, which equates to an annual appreciation rate of 14.75%.

Importantly, this makes Silver Springs 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 Nevada, our data show that Silver Springs's latest annual appreciation rate is higher than 90% of the other cities and towns in Nevada.

Average Home Values

 

Median Home Value:
$143,723

Silver Springs, NV HOME PRICES

Value Range
> $1,712,000 2.3
$1,284,001 - $1,712,000 0.0
$856,001 - $1,284,000 0.5
$685,001 - $856,000 1.3
$513,001 - $685,000 2.4
$342,001 - $513,000 3.6
$171,001 - $342,000 31.5
$86,001 - $171,000 35.8
$0 - $86,000 22.6

Low for NV
Average for Nation

Value Relative to Nation Value Relative to State
53.7565146102945 74.0

Number Of Homes And Apartments:
2,114

Rent & Ownership

 

Average Market Rent:
$1,066 / per month

Homeownership Rate

Homeownership
Owners 78.08
Renters 21.92
Vacant 17.49

Housing Market Details

 

Age of Homes

AGE OF Silver Springs HOMES
2000 or Newer 25.1
1970 - 1999 67.2
1940 - 1969 6.7
1939 or Older 1.0

Types of Homes

TYPE OF Silver Springs HOMES
Single-Family 44.5
Townhomes 1.0
Small Apt. Buildings 1.8
Apt. Complexes 2.3
Mobile Homes 50.1
Other 0.3

Home Size

SIZE OF Silver Springs HOMES
No Bedroom 0.00
1 Bedroom 3.67
2 Bedrooms 23.22
3 Bedrooms 60.19
4 Bedrooms 8.86
5 or more bedrooms 4.06

Silver Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NV*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
22.55% 1.20% 2 2
* 10 is highest

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