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 2,227, 1,307 total housing units (homes and apartments), and a median house value of $625,702, real estate costs in Lake Placid are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New York communities.
Single-family detached homes are the single most common housing type in Lake Placid, accounting for 49.70% of the village's housing units. Other types of housing that are prevalent in Lake Placid include large apartment complexes or high rise apartments ( 25.54%), duplexes, homes converted to apartments or other small apartment buildings ( 20.10%), and a few row houses and other attached homes ( 4.66%).
People in Lake Placid primarily live in small (one, two or no bedroom) single-family detached homes. Lake Placid has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Lake Placid 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 Placid built before 1939 ( 24.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.72%). There's also some housing in Lake Placid built between 2000 and later ( 15.49%).
A decent proportion of the Lake Placid housing stock is seasonally occupied. That is, homes and condos in Lake Placid are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Lake Placid housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Lake Placid have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 102.96%, which ranks in the top 40% nationwide. This equates to an annual average Lake Placid house appreciation rate of 7.33%.
NeighborhoodScout's data show that during the latest twelve months, Lake Placid's appreciation rate, at 5.45%, has been at or slightly above the national average. In the latest quarter, Lake Placid's appreciation rate has been -2.87%, which annualizes to a rate of -11.00%.
Notably, Lake Placid's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Lake Placid's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.
$625,702
for New york
for nation
1,307
$1,069 / per month