Lake Mills, WI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Mills, WI Real Estate Data


Lake Mills Housing Market Information

With a population of 5,798, 2,362 total housing units (homes and apartments), and a median house value of $188,854, Lake Mills 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 Mills, accounting for 59.29% of the city's housing units. Other types of housing that are prevalent in Lake Mills include large apartment complexes or high rise apartments ( 15.74%), duplexes, homes converted to apartments or other small apartment buildings ( 14.08%), and a few mobile homes or trailers ( 6.43%).

The most prevalent building size and type in Lake Mills are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.46% owning and 41.54% renting.

There is a lot of housing in Lake Mills 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 Mills built before 1939 ( 27.20%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.66%). There's also some housing in Lake Mills built between 1940-1969 ( 17.66%).

Lake Mills Home Appreciation Rates

Real estate appreciation rates in Lake Mills's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.04% during the period.

NeighborhoodScout's data show that during the latest twelve months, Lake Mills's appreciation rate, at 5.18%, has been at or slightly above the national average. In the latest quarter, Lake Mills's appreciation rate has been 1.22%, which annualizes to a rate of 4.99%.

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

Average Home Values

 

Median Home Value:
$188,854

Lake Mills, WI HOME PRICES

Value Range
> $1,114,000 0.0
$835,001 - $1,114,000 1.3
$557,001 - $835,000 2.0
$445,001 - $557,000 1.9
$334,001 - $445,000 6.6
$223,001 - $334,000 20.3
$112,001 - $223,000 55.6
$56,001 - $112,000 4.2
$0 - $56,000 8.2

High for WI
High for Nation

Value Relative to Nation Value Relative to State
36.1773145166013 37.9876796714579

Number Of Homes And Apartments:
2,362

Rent & Ownership

 

Average Market Rent:
$1,037 / per month

Homeownership Rate

Homeownership
Owners 58.46
Renters 41.54
Vacant 9.12

Housing Market Details

 

Age of Homes

AGE OF Lake Mills HOMES
2000 or Newer 18.7
1970 - 1999 36.5
1940 - 1969 17.7
1939 or Older 27.2

Types of Homes

TYPE OF Lake Mills HOMES
Single-Family 59.3
Townhomes 4.5
Small Apt. Buildings 14.1
Apt. Complexes 15.7
Mobile Homes 6.4
Other 0.0

Home Size

SIZE OF Lake Mills HOMES
No Bedroom 1.50
1 Bedroom 14.24
2 Bedrooms 25.97
3 Bedrooms 40.48
4 Bedrooms 13.08
5 or more bedrooms 4.73

Lake Mills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
34.08% 1.74% 6 4
* 10 is highest

Popular Neighborhoods in Lake Mills

Zip Codes in Lake Mills, WI