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 22,722, 10,013 total housing units (homes and apartments), and a median house value of $203,095, house prices in North Platte are solidly below the national average.
Single-family detached homes are the single most common housing type in North Platte, accounting for 64.54% of the city's housing units. Other types of housing that are prevalent in North Platte include large apartment complexes or high rise apartments ( 15.11%), mobile homes or trailers ( 8.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.96%).
The most prevalent building size and type in North Platte are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.75% owning and 41.25% renting.
There is a lot of housing in North Platte 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 North Platte built between 1940-1969 ( 36.08%). A lesser amount of the housing stock also hails from before 1939 ( 14.51%). There's also some housing in North Platte built between 2000 and later ( 10.17%).
Vacant housing appears to be an issue in North Platte. Fully 11.86% of the housing stock is classified as vacant. Left unchecked, vacant North Platte homes and apartments can be a drag on the real estate market, holding North Platte 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.
North Platte's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in North Platte during the period has been just 4.83%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, North Platte's appreciation rate, at 6.22%, has been at or slightly above the national average. In the latest quarter, North Platte's appreciation rate has been 5.45%, which annualizes to a rate of 23.64%.
Importantly, this makes North Platte 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 Nebraska, our data show that North Platte's latest annual appreciation rate is higher than 60% of the other cities and towns in Nebraska.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within North Platte differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Platte - 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 North Platte real estate investment or home purchase decisions.
$203,095
for Nebraska
for nation
10,013
$1,343 / per month