Park Falls, WI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Park Falls, 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

Park Falls Housing Market Information

With a population of 2,334, 1,107 total housing units (homes and apartments), and a median house value of $86,044, house prices in Park Falls are some of the most affordable in Wisconsin as well as the nation.

Single-family detached homes are the single most common housing type in Park Falls, accounting for 68.60% of the city's housing units. Other types of housing that are prevalent in Park Falls include duplexes, homes converted to apartments or other small apartment buildings ( 15.36%), large apartment complexes or high rise apartments ( 12.07%), and a few mobile homes or trailers ( 2.90%).

The most prevalent building size and type in Park Falls are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.92% owning and 40.08% renting.

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. Park Falls's housing was primarily built during this period, from the '40s through the '60s. A full 38.96% of the city's housing hails from this era. Other housing ages represented in Park Falls include homes built before 1939 ( 31.40%) and housing constructed between 1970-1999 ( 27.88%). There's also some housing in Park Falls built between 2000 and later ( 1.76%).

Vacant housing appears to be an issue in Park Falls. Fully 15.43% of the housing stock is classified as vacant. Left unchecked, vacant Park Falls homes and apartments can be a drag on the real estate market, holding Park Falls 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.

Park Falls Home Appreciation Rates

Park Falls's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Park Falls during the period has been just -1.72%, which is lower than 80% of US communities.

Over the last year, Park Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Park Falls's appreciation rate has been 2.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Park Falls were at 0.52%, which equates to an annual appreciation rate of 2.09%.

Relative to Wisconsin, our data show that Park Falls's latest annual appreciation rate is lower than 80% of the other cities and towns in Wisconsin.

Average Home Values

 

Median Home Value:
$86,044

Park Falls, WI HOME PRICES

Value Range
> $1,014,000 0.0
$761,001 - $1,014,000 0.1
$507,001 - $761,000 0.1
$406,001 - $507,000 0.1
$304,001 - $406,000 0.6
$203,001 - $304,000 4.0
$102,001 - $203,000 31.3
$51,001 - $102,000 45.5
$0 - $51,000 18.3

Very Low for WI
Very Low for Nation

Value Relative to Nation Value Relative to State
86.7279971873901 99.3839835728953

Number Of Homes And Apartments:
1,107

Park Falls 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
12.78% 0.70% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$594 / per month

Homeownership Rate

Homeownership
Owners 59.92
Renters 40.08
Vacant 15.43

Housing Market Details

 

Age of Homes

AGE OF Park Falls HOMES
2000 or Newer 1.8
1970 - 1999 27.9
1940 - 1969 39.0
1939 or Older 31.4

Types of Homes

TYPE OF Park Falls HOMES
Single-Family 68.6
Townhomes 1.1
Small Apt. Buildings 15.4
Apt. Complexes 12.1
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Park Falls HOMES
No Bedroom 1.15
1 Bedroom 15.51
2 Bedrooms 28.65
3 Bedrooms 37.66
4 Bedrooms 14.13
5 or more bedrooms 2.90

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Zip Codes in Park Falls, WI