Lake Mills, WI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Mills, WI 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 Mills Housing Market Information

With 5,798 people, 2,302 houses or apartments, and a median cost of homes of $178,928, 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 56.75% of the city's housing units. Other types of housing that are prevalent in Lake Mills include large apartment complexes or high rise apartments ( 17.28%), duplexes, homes converted to apartments or other small apartment buildings ( 13.22%), and a few mobile homes or trailers ( 9.55%).

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 56.62% owning and 43.38% 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 between 1940-1969 ( 22.54%). A lesser amount of the housing stock also hails from before 1939 ( 22.23%). There's also some housing in Lake Mills built between 2000 and later ( 19.60%).

Vacant housing appears to be an issue in Lake Mills. Fully 11.02% of the housing stock is classified as vacant. Left unchecked, vacant Lake Mills homes and apartments can be a drag on the real estate market, holding Lake Mills 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 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 -0.14% during the period.

NeighborhoodScout's data show that during the latest twelve months, Lake Mills's appreciation rate, at 3.51%, has been at or slightly above the national average. In the latest quarter, Lake Mills's appreciation rate has been 0.52%, which annualizes to a rate of 2.09%.

Relative to Wisconsin, our data show that Lake Mills's latest annual appreciation rate is lower than 60% of the other cities and towns in Wisconsin.

Average Home Values

 

Median Home Value:
$178,928

Lake Mills, WI HOME PRICES

Value Range
> $1,099,000 0.0
$825,001 - $1,099,000 0.8
$549,001 - $825,000 2.5
$440,001 - $549,000 1.4
$330,001 - $440,000 5.6
$220,001 - $330,000 18.4
$110,001 - $220,000 59.5
$55,001 - $110,000 4.4
$0 - $55,000 7.3

Average for WI
High for Nation

Value Relative to Nation Value Relative to State
38.5034571662956 43.1211498973306

Number Of Homes And Apartments:
2,302

Lake Mills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
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
34.11% 1.72% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$971 / per month

Homeownership Rate

Homeownership
Owners 56.62
Renters 43.38
Vacant 11.02

Housing Market Details

 

Age of Homes

AGE OF Lake Mills HOMES
2000 or Newer 19.6
1970 - 1999 35.6
1940 - 1969 22.5
1939 or Older 22.2

Types of Homes

TYPE OF Lake Mills HOMES
Single-Family 56.7
Townhomes 3.2
Small Apt. Buildings 13.2
Apt. Complexes 17.3
Mobile Homes 9.5
Other 0.0

Home Size

SIZE OF Lake Mills HOMES
No Bedroom 1.58
1 Bedroom 14.96
2 Bedrooms 27.14
3 Bedrooms 39.93
4 Bedrooms 12.45
5 or more bedrooms 3.94

Popular Neighborhoods in Lake Mills

Zip Codes in Lake Mills, WI