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 13,358 people, 5,308 houses or apartments, and a median cost of homes of $944,954, Lake Forest Park house prices are not only among the most expensive in Washington, Lake Forest Park real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Lake Forest Park, accounting for 80.65% of the city's housing units. Other types of housing that are prevalent in Lake Forest Park include large apartment complexes or high rise apartments ( 15.33%), duplexes, homes converted to apartments or other small apartment buildings ( 2.98%), and a few row houses and other attached homes ( 1.04%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Forest Park. Owner-occupied housing accounts for 78.27% of Lake Forest Park's homes, and 67.23% have either three or four bedrooms, which is average sized relative to America.
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. Lake Forest Park's housing was primarily built during this period, from the '40s through the '60s. A full 44.28% of the city's housing hails from this era. Other housing ages represented in Lake Forest Park include homes built between 1970-1999 ( 40.07%) and housing constructed before 1939 ( 8.28%). There's also some housing in Lake Forest Park built between 2000 and later ( 7.37%).
In the last 10 years, Lake Forest Park has experienced some of the highest home appreciation rates of any community in the nation. Lake Forest Park real estate appreciated 145.83% over the last ten years, which is an average annual home appreciation rate of 9.41%, putting Lake Forest Park in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lake Forest Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Lake Forest Park appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Forest Park's appreciation rate has been 6.61%, 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 Forest Park were at -4.57%, which equates to an annual appreciation rate of -17.06%.
Notably, Lake Forest Park's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Washington, our data show that Lake Forest Park's latest annual appreciation rate is lower than 80% of the other cities and towns in Washington.
Very High for Nation
Very High for WA