The housing market in Spring Lake, IN is vibrant and growing. The median value of homes is $216,000, which is significantly lower than the US median house value of $338,100. However, the 1 year appreciation rate for homes in Spring Lake is 13.55%, more than 5 points higher than the national average of 8.27%. This shows that despite its relatively low median home price, Spring Lake remains a desirable area to buy a home with increasing demand leading to larger gains in property values over the last year.
The median home cost in Spring Lake is $216,000. Home appreciation the last 10 years has been 95.7%. Home Appreciation in Spring Lake is up 17.9%.
Average Age of Homes
- The median age of Spring Lake real estate is 63 years old
The Rental Market in Spring Lake
- Renters make up 3.3% of the Spring Lake population
- 0.0% of houses and apartments in Spring Lake, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.