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 14,601, 5,493 total housing units (homes and apartments), and a median house value of $312,313, Lake Ariel 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 Lake Ariel, accounting for 91.45% of the town's housing units. Other types of housing that are prevalent in Lake Ariel include mobile homes or trailers ( 4.84%), duplexes, homes converted to apartments or other small apartment buildings ( 2.69%).
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 Ariel. Owner-occupied housing accounts for 86.94% of Lake Ariel's homes, and 76.64% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lake Ariel 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 Ariel built between 1940-1969 ( 15.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.37%). There's also some housing in Lake Ariel built before 1939 ( 9.23%).
A decent proportion of the Lake Ariel housing stock is seasonally occupied. That is, homes and condos in Lake Ariel 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 Ariel housing market speaks to its popularity as a vacation location of choice.
Real estate appreciation rates in Lake Ariel's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.20% during the period.
Appreciation rates are so strong in Lake Ariel that despite a nationwide downturn in the housing market, Lake Ariel real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Ariel appreciation rates continue to be some of the highest in America, at 11.66%, which is higher than appreciation rates in 92.86% 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 Ariel. Lake Ariel appreciation rates in the latest quarter were at 3.06%, which equates to an annual appreciation rate of 12.81%.
Importantly, this makes Lake Ariel 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 Pennsylvania, our data show that Lake Ariel's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Lake Ariel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Ariel - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lake Ariel real estate investment or home purchase decisions.
$312,313
for Pennsylvania
for nation
5,493
$1,322 / per month