Marco Island appreciation rates and housing market information

Marco Island housing market information

With 14,980 people, 14,871 houses or apartments, and a median cost of homes of $556,436, Marco Island house prices are not only among the most expensive in Florida, Marco Island real estate also is some of the most expensive in all of America.

large apartment complexes or high rise apartments are the single most common housing type in Marco Island, accounting for 59.92% of the city's housing units. Other types of housing that are prevalent in Marco Island include single-family detached homes (35.85%), duplexes, homes converted to apartments, or other small apartment buildings (2.40%), and a few row houses and other attached homes (1.65%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in Marco Island tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 54.15% of the homes in Marco Island have two or fewer bedrooms.

There is a lot of housing in Marco Island built from 1970-1994, 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 Marco Island built from 1995 and later (15.97%). A lesser amount of the housing stock also hails from 1940-1969 (6.17%), and some were built from 1939 and earlier (6.17%).

A decent proportion of the Marco Island housing stock is seasonally occupied. That is, homes and condos in Marco Island 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 Marco Island housing market speaks to its popularity as a vacation location of choice.

Marco Island home appreciation rates

Real estate appreciation rates in Marco Island have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.87% during the period.

Over the last year, Marco Island appreciation rates have trailed the rest of the nation. In the last twelve months, Marco Island's appreciation rate has been -24.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marco Island were at 2.85%, which equates to an annual appreciation rate of 11.40%.

Importantly, this makes Marco Island 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 Florida, our data show that Marco Island's latest annual appreciation rate is higher than 4% of the other cities and towns in Florida.