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 6,301 people, 2,405 houses or apartments, and a median cost of homes of $267,451, Lecanto real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Lecanto, accounting for 67.30% of the town's housing units. Other types of housing that are prevalent in Lecanto include mobile homes or trailers ( 28.35%), large apartment complexes or high rise apartments ( 3.22%), and a few row houses and other attached homes ( 1.13%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lecanto. Owner-occupied housing accounts for 75.11% of Lecanto's homes, and 72.49% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lecanto 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 Lecanto built between 2000 and later ( 27.87%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.68%).
Vacant housing appears to be an issue in Lecanto. Fully 12.03% of the housing stock is classified as vacant. Left unchecked, vacant Lecanto homes and apartments can be a drag on the real estate market, holding Lecanto 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.
In the last 10 years, Lecanto has experienced some of the highest home appreciation rates of any community in the nation. Lecanto real estate appreciated 177.44% over the last ten years, which is an average annual home appreciation rate of 10.74%, putting Lecanto in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lecanto definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Lecanto that despite a nationwide downturn in the housing market, Lecanto real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lecanto appreciation rates continue to be some of the highest in America, at 8.83%, which is higher than appreciation rates in 79.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lecanto. Lecanto appreciation rates in the latest quarter were at 3.67%, which equates to an annual appreciation rate of 15.52%.
Importantly, this makes Lecanto one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Florida, our data show that Lecanto's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.
$267,451
for Florida
for nation
2,405
$1,843 / per month