Lake Placid, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Placid, NY 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 Placid Housing Market Information

With a population of 2,465, 1,259 total housing units (homes and apartments), and a median house value of $201,196, Lake Placid real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Lake Placid, accounting for 46.84% of the village's housing units. Other types of housing that are prevalent in Lake Placid include duplexes, homes converted to apartments or other small apartment buildings ( 26.34%), large apartment complexes or high rise apartments ( 21.80%), and a few row houses and other attached homes ( 4.33%).

Lake Placid is dominated by renter-occupied one, two, or no bedrooms apartments. 65.31% of Lake Placid's dwellings are rentals.

There is a lot of housing in Lake Placid 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 Placid built before 1939 ( 30.10%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.34%). There's also some housing in Lake Placid built between 2000 and later ( 7.36%).

Vacant housing appears to be an issue in Lake Placid. Fully 34.32% of the housing stock is classified as vacant. Left unchecked, vacant Lake Placid homes and apartments can be a drag on the real estate market, holding Lake Placid 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 Placid Home Appreciation Rates

Appreciation rates for homes in Lake Placid have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.42%, which ranks in the top 50% nationwide. This equates to an annual average Lake Placid house appreciation rate of 0.04%.

Over the last year, Lake Placid appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Placid's appreciation rate has been -2.88%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Placid were at -0.56%, which equates to an annual appreciation rate of -2.23%.

Notably, Lake Placid's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Lake Placid's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$201,196

Lake Placid, NY HOME PRICES

Value Range
> $1,020,000 1.9
$765,001 - $1,020,000 1.6
$510,001 - $765,000 14.1
$408,001 - $510,000 3.0
$306,001 - $408,000 13.6
$204,001 - $306,000 19.0
$102,001 - $204,000 30.4
$51,001 - $102,000 6.2
$0 - $51,000 10.3

Average for NY
High for Nation

Value Relative to Nation Value Relative to State
31.9582796202977 44.4444444444444

Number Of Homes And Apartments:
1,259

Lake Placid Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
82.16% 3.54% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,017 / per month

Homeownership Rate

Homeownership
Owners 34.69
Renters 65.31
Vacant 34.32

Housing Market Details

 

Age of Homes

AGE OF Lake Placid HOMES
2000 or Newer 7.4
1970 - 1999 42.2
1940 - 1969 20.3
1939 or Older 30.1

Types of Homes

TYPE OF Lake Placid HOMES
Single-Family 46.8
Townhomes 4.3
Small Apt. Buildings 26.3
Apt. Complexes 21.8
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Lake Placid HOMES
No Bedroom 9.60
1 Bedroom 30.20
2 Bedrooms 14.61
3 Bedrooms 23.94
4 Bedrooms 14.14
5 or more bedrooms 7.51

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Zip Codes in Lake Placid, NY