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 about Scout's Real Estate Data
With 13,096 people, 4,888 houses or apartments, and a median cost of homes of $174,153, house prices in Lake Station are solidly below the national average.
Single-family detached homes are the single most common housing type in Lake Station, accounting for 79.06% of the city's housing units. Other types of housing that are prevalent in Lake Station include mobile homes or trailers ( 11.35%), duplexes, homes converted to apartments or other small apartment buildings ( 4.07%), and a few large apartment complexes or high rise apartments ( 3.96%).
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 Station. Owner-occupied housing accounts for 66.32% of Lake Station's homes, and 59.92% 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 Station's housing was primarily built during this period, from the '40s through the '60s. A full 53.45% of the city's housing hails from this era. Other housing ages represented in Lake Station include homes built between 1970-1999 ( 28.39%) and housing constructed before 1939 ( 10.00%). There's also some housing in Lake Station built between 2000 and later ( 8.17%).
Appreciation rates for homes in Lake Station have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 112.20%, which ranks in the top 30% nationwide. This equates to an annual average Lake Station house appreciation rate of 7.81%.
Appreciation rates are so strong in Lake Station that despite a nationwide downturn in the housing market, Lake Station real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Station appreciation rates continue to be some of the highest in America, at 11.24%, which is higher than appreciation rates in 91.86% 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 Station. Lake Station appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Indiana, our data show that Lake Station's latest annual appreciation rate is higher than 90% of the other cities and towns in Indiana.
$174,153
for Indiana
for nation
4,888
$1,869 / per month