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 15,014, 4,628 total housing units (homes and apartments), and a median house value of $496,082, West Park real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in West Park, accounting for 82.79% of the city's housing units. Other types of housing that are prevalent in West Park include duplexes, homes converted to apartments or other small apartment buildings ( 8.11%), large apartment complexes or high rise apartments ( 4.00%), and a few mobile homes or trailers ( 3.47%).
The most prevalent building size and type in West Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.47% owning and 37.53% 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. West Park's housing was primarily built during this period, from the '40s through the '60s. A full 63.65% of the city's housing hails from this era. Other housing ages represented in West Park include homes built between 1970-1999 ( 29.26%) and housing constructed between 2000 and later ( 6.80%).
In the last 10 years, West Park has experienced some of the highest home appreciation rates of any community in the nation. West Park real estate appreciated 233.91% over the last ten years, which is an average annual home appreciation rate of 12.81%, putting West Park in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, West Park 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 West Park that despite a nationwide downturn in the housing market, West Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Park appreciation rates continue to be some of the highest in America, at 12.94%, which is higher than appreciation rates in 95.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Park. West Park appreciation rates in the latest quarter were at 3.44%, which equates to an annual appreciation rate of 14.50%.
Importantly, this makes West Park one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that West Park's latest annual appreciation rate is higher than 80% of the other cities and towns in Florida.
$496,082
for Florida
for nation
4,628
$3,498 / per month