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 10,574, 4,317 total housing units (homes and apartments), and a median house value of $228,607, house prices in Palatka are solidly below the national average.
Single-family detached homes are the single most common housing type in Palatka, accounting for 56.70% of the city's housing units. Other types of housing that are prevalent in Palatka include duplexes, homes converted to apartments or other small apartment buildings ( 21.66%), large apartment complexes or high rise apartments ( 16.58%), and a few mobile homes or trailers ( 3.19%).
People in Palatka primarily live in small (one, two or no bedroom) single-family detached homes. Palatka has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Palatka 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 Palatka built between 1940-1969 ( 33.10%). A lesser amount of the housing stock also hails from before 1939 ( 18.79%). There's also some housing in Palatka built between 2000 and later ( 13.22%).
In the last 10 years, Palatka has experienced some of the highest home appreciation rates of any community in the nation. Palatka real estate appreciated 136.66% over the last ten years, which is an average annual home appreciation rate of 9.00%, putting Palatka in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Palatka 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, Palatka appreciation rates have trailed the rest of the nation. In the last twelve months, Palatka's appreciation rate has been 1.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palatka were at -2.36%, which equates to an annual appreciation rate of -9.13%.
Notably, Palatka's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that Palatka's latest annual appreciation rate is lower than 70% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Palatka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palatka - 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 Palatka real estate investment or home purchase decisions.
$228,607
for Florida
for nation
4,317
$1,485 / per month