Lake Forest Park, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lake Forest Park Neighborhoods Since 2000




Lake Forest Park, WA 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 Forest Park Housing Market Information

With 13,243 people, 5,207 houses or apartments, and a median cost of homes of $596,920, 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 84.88% 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 ( 12.55%), row houses and other attached homes ( 1.01%).

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 78.85% of Lake Forest Park's homes, and 65.48% 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 48.54% of the city's housing hails from this era. Other housing ages represented in Lake Forest Park include homes built between 1970-1999 ( 41.03%) and housing constructed before 1939 ( 6.72%). There's also some housing in Lake Forest Park built between 2000 and later ( 3.72%).

Lake Forest Park Home Appreciation Rates

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 22.92% over the last ten years, which is an average annual home appreciation rate of 2.09%, putting Lake Forest Park in the top 20% 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.

Appreciation rates are so strong in Lake Forest Park that despite a nationwide downturn in the housing market, Lake Forest Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Forest Park appreciation rates continue to be some of the highest in America, at 14.29%, which is higher than appreciation rates in 99.12% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake Forest Park. Lake Forest Park appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.

Importantly, this makes Lake Forest Park 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 Washington, our data show that Lake Forest Park's latest annual appreciation rate is higher than 90% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$596,920

Lake Forest Park, WA HOME PRICES

Value Range
> $1,431,000 2.2
$1,073,001 - $1,431,000 5.5
$716,001 - $1,073,000 20.5
$572,001 - $716,000 25.7
$429,001 - $572,000 23.9
$286,001 - $429,000 15.1
$143,001 - $286,000 4.7
$72,001 - $143,000 0.7
$0 - $72,000 1.7

Very High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
3.95523262627446 5.67375886524823

Number Of Homes And Apartments:
5,207

Lake Forest Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
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
110.32% 4.40% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,647 / per month

Homeownership Rate

Homeownership
Owners 78.85
Renters 21.15
Vacant 4.70

Housing Market Details

 

Age of Homes

AGE OF Lake Forest Park HOMES
2000 or Newer 3.7
1970 - 1999 41.0
1940 - 1969 48.5
1939 or Older 6.7

Types of Homes

TYPE OF Lake Forest Park HOMES
Single-Family 84.9
Townhomes 1.0
Small Apt. Buildings 0.8
Apt. Complexes 12.6
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Lake Forest Park HOMES
No Bedroom 1.41
1 Bedroom 6.70
2 Bedrooms 13.85
3 Bedrooms 34.54
4 Bedrooms 30.95
5 or more bedrooms 12.55