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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.



Mayo, 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

Mayo, FL Housing Market Trends

With 1,075 people, 399 houses or apartments, and a median cost of homes of $123,951, house prices in Mayo are some of the most affordable in Florida as well as the nation.

Single-family detached homes are the single most common housing type in Mayo, accounting for 49.38% of the town's housing units. Other types of housing that are prevalent in Mayo include mobile homes or trailers ( 31.82%), duplexes, homes converted to apartments or other small apartment buildings ( 16.94%), and a few large apartment complexes or high rise apartments ( 1.86%).

The most prevalent building size and type in Mayo are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.97% owning and 51.03% renting.

There is a lot of housing in Mayo 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 Mayo built between 1940-1969 ( 25.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 25.21%). There's also some housing in Mayo built before 1939 ( 5.37%).

Vacant housing appears to be an issue in Mayo. Fully 17.56% of the housing stock is classified as vacant. Left unchecked, vacant Mayo homes and apartments can be a drag on the real estate market, holding Mayo 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.

Mayo Home Appreciation Rates

Appreciation rates for homes in Mayo have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 106.09%, which ranks in the top 30% nationwide. This equates to an annual average Mayo house appreciation rate of 7.50%.

Appreciation rates are so strong in Mayo that despite a nationwide downturn in the housing market, Mayo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mayo appreciation rates continue to be some of the highest in America, at 7.37%, which is higher than appreciation rates in 78.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mayo. Mayo appreciation rates in the latest quarter were at 1.15%, which equates to an annual appreciation rate of 4.68%.

Relative to Florida, our data show that Mayo's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.

Average Home Values

Median Home Value

$123,951

Mayo, FL Home Prices
> $1,241,000
$931,001 - $1,241,000
$621,001 - $931,000
$497,001 - $621,000
$372,001 - $497,000
$249,001 - $372,000
$124,001 - $249,000
$62,001 - $124,000
$0 - $62,000
0.2%
0.2%
0.0%
0.0%
2.2%
2.2%
1.4%
1.4%
1.2%
1.2%
14.9%
14.9%
41.3%
41.3%
16.4%
16.4%
22.5%
22.5%
0% 100.0%
% of Homes
Very Low

for Florida

Very Low

for nation

Number of Homes And Apartments:

399

Mayo Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,692 / per month

Homeownership Rate

Owners
Renters
49.0%
49.0%
51.0%
51.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
17.6%
17.6%
82.4%
82.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
25.2%
25.2%
44.2%
44.2%
25.2%
25.2%
5.4%
5.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.4%
49.4%
0.0%
0.0%
16.9%
16.9%
1.9%
1.9%
31.8%
31.8%
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
1.9%
1.9%
6.0%
6.0%
22.3%
22.3%
60.5%
60.5%
9.3%
9.3%
0.0%
0.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Mayo

Popular Communities Near Mayo, FL

Zip Codes in Mayo, FL