The housing market in Lake Minchumina, Alaska is drastically different than the US median value. Whereas the US median house value is $338,100, in Lake Minchumina it is much lower at $152,900. In addition to the difference in median values between the two areas, the one year house appreciation rates are also quite different. The US one year house appreciation rate is 8.27%, whereas the one year house appreciation rate in Lake Minchumina is only 1.58%. This shows that while the housing prices are much more affordable in Lake Minchumina than in other parts of the country, there has been a slower growth rate over time.
The median home cost in Lake Minchumina is $152,900. Home appreciation the last 10 years has been 43.5%. Home Appreciation in Lake Minchumina is up 8.2%.
Average Age of Homes
- The median age of Lake Minchumina real estate is 33 years old
The Rental Market in Lake Minchumina
- Renters make up 6.7% of the Lake Minchumina population
- 3.6% of houses and apartments in Lake Minchumina, 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.