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 a population of 2,005, 701 total housing units (homes and apartments), and a median house value of $192,989, house prices in Lake Butler are solidly below the national average.
Single-family detached homes are the single most common housing type in Lake Butler, accounting for 53.74% of the city's housing units. Other types of housing that are prevalent in Lake Butler include duplexes, homes converted to apartments or other small apartment buildings ( 21.72%), mobile homes or trailers ( 17.77%), and a few row houses and other attached homes ( 4.09%).
The most prevalent building size and type in Lake Butler are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 38.58% owning and 61.42% renting.
There is a lot of housing in Lake Butler 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 Butler built between 1940-1969 ( 19.32%). A lesser amount of the housing stock also hails from before 1939 ( 13.26%). There's also some housing in Lake Butler built between 2000 and later ( 8.46%).
In the last 10 years, Lake Butler has experienced some of the highest home appreciation rates of any community in the nation. Lake Butler real estate appreciated 133.89% over the last ten years, which is an average annual home appreciation rate of 8.87%, putting Lake Butler in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lake Butler definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Lake Butler appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Butler's appreciation rate has been 0.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Butler were at -2.36%, which equates to an annual appreciation rate of -9.13%.
Notably, Lake Butler's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that Lake Butler's latest annual appreciation rate is lower than 80% of the other cities and towns in Florida.
$192,989
for Florida
for nation
701
$1,396 / per month