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 3,013 people, 1,451 houses or apartments, and a median cost of homes of $248,030, house prices in Lead are solidly below the national average.
Single-family detached homes are the single most common housing type in Lead, accounting for 71.94% of the city's housing units. Other types of housing that are prevalent in Lead include duplexes, homes converted to apartments or other small apartment buildings ( 17.03%), large apartment complexes or high rise apartments ( 8.24%), and a few mobile homes or trailers ( 2.78%).
Dwellings in Lead tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.00% of the homes in Lead have two or fewer bedrooms.
The housing in Lead was primarily built before 1939 ( 68.56%), making the housing stock in Lead some of the oldest overall in America, although there is a range of ages of homes in Lead. The next most important housing age is between 1970-1999 ( 15.01%), followed by between 1940-1969 ( 13.97%). There's also some housing in Lead built between 2000 and later ( 2.46%).
Vacant housing appears to be an issue in Lead. Fully 20.80% of the housing stock is classified as vacant. Left unchecked, vacant Lead homes and apartments can be a drag on the real estate market, holding Lead 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.
Appreciation rates for homes in Lead have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.63%, which ranks in the top 50% nationwide. This equates to an annual average Lead house appreciation rate of 6.78%.
Appreciation rates are so strong in Lead that despite a nationwide downturn in the housing market, Lead real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lead appreciation rates continue to be some of the highest in America, at 9.33%, which is higher than appreciation rates in 83.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lead. Lead appreciation rates in the latest quarter were at 4.92%, which equates to an annual appreciation rate of 21.16%.
Importantly, this makes Lead 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 South Dakota, our data show that Lead's latest annual appreciation rate is lower than 50% of the other cities and towns in South Dakota.
$248,030
for South dakota
for nation
1,451
$1,439 / per month