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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Cutler Bay, FL Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cutler Bay, FL Housing Market Trends

With 43,958 people, 14,366 houses or apartments, and a median cost of homes of $571,735, real estate costs in Cutler Bay are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.

Single-family detached homes are the single most common housing type in Cutler Bay, accounting for 66.95% of the town's housing units. Other types of housing that are prevalent in Cutler Bay include large apartment complexes or high rise apartments ( 17.62%), row houses and other attached homes ( 14.12%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.26%).

The most prevalent building size and type in Cutler Bay are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.77% owning and 35.23% renting.

There is a lot of housing in Cutler Bay 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 Cutler Bay built between 2000 and later ( 30.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 28.94%).

Cutler Bay Home Appreciation Rates

In the last 10 years, Cutler Bay has experienced some of the highest home appreciation rates of any community in the nation. Cutler Bay real estate appreciated 176.59% over the last ten years, which is an average annual home appreciation rate of 10.71%, putting Cutler Bay in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cutler Bay 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 Cutler Bay that despite a nationwide downturn in the housing market, Cutler Bay real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cutler Bay appreciation rates continue to be some of the highest in America, at 7.63%, which is higher than appreciation rates in 79.48% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cutler Bay. Cutler Bay appreciation rates in the latest quarter were at 1.92%, which equates to an annual appreciation rate of 7.90%.

Relative to Florida, our data show that Cutler Bay's latest annual appreciation rate is higher than 80% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Cutler Bay differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cutler Bay - 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 Cutler Bay real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$571,735

Cutler Bay, FL Home Prices
> $1,467,000
$1,100,001 - $1,467,000
$733,001 - $1,100,000
$587,001 - $733,000
$440,001 - $587,000
$293,001 - $440,000
$147,001 - $293,000
$73,001 - $147,000
$0 - $73,000
2.2%
2.2%
1.7%
1.7%
17.1%
17.1%
20.9%
20.9%
34.4%
34.4%
18.5%
18.5%
2.7%
2.7%
0.8%
0.8%
1.8%
1.8%
0% 100.0%
% of Homes
High

for Florida

Very High

for nation

Number of Homes And Apartments:

14,366

Cutler Bay Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,751 / per month

Homeownership Rate

Owners
Renters
64.8%
64.8%
35.2%
35.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.2%
4.2%
95.8%
95.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
30.8%
30.8%
39.5%
39.5%
28.9%
28.9%
0.7%
0.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.0%
67.0%
14.1%
14.1%
1.3%
1.3%
17.6%
17.6%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.8%
1.8%
5.4%
5.4%
16.7%
16.7%
48.4%
48.4%
22.4%
22.4%
5.2%
5.2%
0% 100.0%
% of Homes