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 a population of 109,226, 40,325 total housing units (homes and apartments), and a median house value of $528,506, Sparks real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Sparks, accounting for 62.01% of the city's housing units. Other types of housing that are prevalent in Sparks include large apartment complexes or high rise apartments ( 23.91%), duplexes, homes converted to apartments or other small apartment buildings ( 7.23%), and a few row houses and other attached homes ( 4.86%).
The most prevalent building size and type in Sparks are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.23% owning and 40.77% renting.
There is a lot of housing in Sparks 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 Sparks built between 2000 and later ( 35.76%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.84%). There's also some housing in Sparks built before 1939 ( 1.61%).
In the last 10 years, Sparks has experienced some of the highest home appreciation rates of any community in the nation. Sparks real estate appreciated 156.02% over the last ten years, which is an average annual home appreciation rate of 9.86%, putting Sparks in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sparks 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, Sparks's appreciation rate, at 5.78%, has been at or slightly above the national average. In the latest quarter, Sparks's appreciation rate has been 2.35%, which annualizes to a rate of 9.76%.
Relative to Nevada, our data show that Sparks's latest annual appreciation rate is higher than 50% of the other cities and towns in Nevada.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Sparks differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sparks - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Sparks real estate investment or home purchase decisions.
$528,506
for Nevada
for nation
40,325
$2,348 / per month