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
With a population of 10,995, 1,739 total housing units (homes and apartments), and a median house value of $287,347, Lakebay real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Lakebay, accounting for 81.53% of the town's housing units. Other types of housing that are prevalent in Lakebay include mobile homes or trailers ( 16.86%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lakebay. Owner-occupied housing accounts for 80.15% of Lakebay's homes, and 58.22% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lakebay 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 Lakebay built between 2000 and later ( 25.24%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.51%). There's also some housing in Lakebay built before 1939 ( 4.45%).
Vacant housing appears to be an issue in Lakebay. Fully 35.24% of the housing stock is classified as vacant. Left unchecked, vacant Lakebay homes and apartments can be a drag on the real estate market, holding Lakebay 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.
Real estate appreciation rates in Lakebay's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.34% during the period.
Appreciation rates are so strong in Lakebay that despite a nationwide downturn in the housing market, Lakebay real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lakebay appreciation rates continue to be some of the highest in America, at 12.03%, which is higher than appreciation rates in 97.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lakebay. Lakebay appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.
Importantly, this makes Lakebay 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 Washington, our data show that Lakebay's latest annual appreciation rate is higher than 70% of the other cities and towns in Washington.
|$964,001 - $1,285,000||1.3|
|$643,001 - $964,000||8.4|
|$514,001 - $643,000||7.2|
|$386,001 - $514,000||16.2|
|$257,001 - $386,000||21.8|
|$129,001 - $257,000||33.0|
|$64,001 - $129,000||5.7|
|$0 - $64,000||3.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Lakebay HOMES|
|2000 or Newer||25.2|
|1970 - 1999||55.8|
|1940 - 1969||14.5|
|1939 or Older||4.5|
|TYPE OF Lakebay HOMES|
|Small Apt. Buildings||0.0|
|SIZE OF Lakebay HOMES|
|5 or more bedrooms||1.16|