Sparks, NV
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Sparks Neighborhoods Since 2000




Sparks, NV 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

Sparks Housing Market Information

With 96,094 people, 34,986 houses or apartments, and a median cost of homes of $274,811, Sparks real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Sparks, accounting for 65.00% of the city's housing units. Other types of housing that are prevalent in Sparks include large apartment complexes or high rise apartments ( 20.99%), duplexes, homes converted to apartments or other small apartment buildings ( 6.67%), and a few row houses and other attached homes ( 4.93%).

The most prevalent building size and type in Sparks are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.97% owning and 43.03% renting.

There is a lot of housing in Sparks 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 Sparks built between 2000 and later ( 30.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.55%). There's also some housing in Sparks built before 1939 ( 1.61%).

Sparks Home Appreciation Rates

Sparks's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Sparks during the period has been just -1.57%, which is lower than 80% of US communities.

Appreciation rates are so strong in Sparks that despite a nationwide downturn in the housing market, Sparks real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sparks appreciation rates continue to be some of the highest in America, at 11.72%, which is higher than appreciation rates in 97.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sparks. Sparks appreciation rates in the latest quarter were at 1.96%, which equates to an annual appreciation rate of 8.05%.

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

Relative to Nevada, our data show that Sparks's latest annual appreciation rate is higher than 50% of the other cities and towns in Nevada.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Sparks differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sparks - 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 Sparks real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$274,811

Sparks, NV HOME PRICES

Value Range
> $1,558,000 0.4
$1,168,001 - $1,558,000 0.4
$778,001 - $1,168,000 1.3
$623,001 - $778,000 3.4
$467,001 - $623,000 9.6
$311,001 - $467,000 23.0
$156,001 - $311,000 41.9
$78,001 - $156,000 11.7
$0 - $78,000 8.2

High for NV
Very High for Nation

Value Relative to Nation Value Relative to State
19.0788702683699 24.0

Number Of Homes And Apartments:
34,986

Sparks Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NV*
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
67.61% 3.04% 6 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,441 / per month

Homeownership Rate

Homeownership
Owners 56.97
Renters 43.03
Vacant 7.79

Housing Market Details

 

Age of Homes

AGE OF Sparks HOMES
2000 or Newer 30.2
1970 - 1999 51.7
1940 - 1969 16.5
1939 or Older 1.6

Types of Homes

TYPE OF Sparks HOMES
Single-Family 65.0
Townhomes 4.9
Small Apt. Buildings 6.7
Apt. Complexes 21.0
Mobile Homes 2.2
Other 0.2

Home Size

SIZE OF Sparks HOMES
No Bedroom 3.14
1 Bedroom 12.08
2 Bedrooms 23.88
3 Bedrooms 38.50
4 Bedrooms 18.26
5 or more bedrooms 4.13