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 1,382 people, 509 houses or apartments, and a median cost of homes of $518,671, Parks real estate is some of the most expensive in Arizona, although Parks home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Parks, accounting for 84.88% of the town's housing units. Other types of housing that are prevalent in Parks include mobile homes or trailers ( 14.68%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Parks. Owner-occupied housing accounts for 86.64% of Parks's homes, and 54.63% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Parks 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 Parks built between 2000 and later ( 31.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.69%).
A decent proportion of the Parks housing stock is seasonally occupied. That is, homes and condos in Parks are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Parks housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Parks has experienced some of the highest home appreciation rates of any community in the nation. Parks real estate appreciated 163.67% over the last ten years, which is an average annual home appreciation rate of 10.18%, putting Parks in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Parks definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Parks that despite a nationwide downturn in the housing market, Parks real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Parks appreciation rates continue to be some of the highest in America, at 12.86%, which is higher than appreciation rates in 78.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Parks. Parks appreciation rates in the latest quarter were at 6.25%, which equates to an annual appreciation rate of 27.42%.
Importantly, this makes Parks one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Arizona, our data show that Parks's latest annual appreciation rate is higher than 90% of the other cities and towns in Arizona.
$518,671
for Arizona
for nation
509
$3,231 / per month