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 7,591 people, 2,806 houses or apartments, and a median cost of homes of $256,323, Lamar real estate values are some of the lowest in Colorado, although compared to real estate around the nation, Lamar homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Lamar, accounting for 67.95% of the city's housing units. Other types of housing that are prevalent in Lamar include mobile homes or trailers ( 12.77%), duplexes, homes converted to apartments or other small apartment buildings ( 9.24%), and a few large apartment complexes or high rise apartments ( 7.17%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lamar. Owner-occupied housing accounts for 66.06% of Lamar's homes, and 59.11% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lamar 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 Lamar built between 1940-1969 ( 32.60%). A lesser amount of the housing stock also hails from before 1939 ( 13.86%). There's also some housing in Lamar built between 2000 and later ( 5.19%).
Vacant housing appears to be an issue in Lamar. Fully 19.48% of the housing stock is classified as vacant. Left unchecked, vacant Lamar homes and apartments can be a drag on the real estate market, holding Lamar 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.
In the last 10 years, Lamar has experienced some of the highest home appreciation rates of any community in the nation. Lamar real estate appreciated 125.84% over the last ten years, which is an average annual home appreciation rate of 8.49%, putting Lamar in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lamar definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Lamar's appreciation rate, at 5.34%, has been at or slightly above the national average. In the latest quarter, Lamar's appreciation rate has been -0.63%, which annualizes to a rate of -2.49%.
Notably, Lamar's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Colorado, our data show that Lamar's latest annual appreciation rate is higher than 80% of the other cities and towns in Colorado.
$256,323
for Colorado
for nation
2,806
$1,538 / per month