Palm Coast appreciation rates and housing market information

Palm Coast housing market information

With 22,060 people, 12,413 houses or apartments, and a median cost of homes of $232,989, Palm Coast real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Palm Coast, accounting for 70.84% of the town's housing units. Other types of housing that are prevalent in Palm Coast include large apartment complexes or high rise apartments (8.99%), mobile homes or trailers (8.40%), duplexes, homes converted to apartments, or other small apartment buildings (7.14%), and a few row houses and other attached homes (4.35%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Palm Coast. Owner-occupied housing accounts for 68.36% of Palm Coast's homes, and 54.50% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Palm Coast 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 Palm Coast built from 1995 and later (15.95%). A lesser amount of the housing stock also hails from 1940-1969 (7.41%), and some were built from 1939 and earlier (7.41%).

Vacant housing appears to be an issue in Palm Coast. Fully 17.24% of the housing stock is classified as vacant. Left unchecked, vacant Palm Coast homes and apartments can be a drag on the real estate market, holding Palm Coast 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.

Palm Coast home appreciation rates

Appreciation rates for homes in Palm Coast have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.16%, which ranks in the top 40% nationwide. This equates to an annual average Palm Coast house appreciation rate of 8.41%.

Over the last year, Palm Coast appreciation rates have trailed the rest of the nation. In the last twelve months, Palm Coast's appreciation rate has been -17.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palm Coast were at -4.45%, which equates to an annual appreciation rate of -17.80%.

Notably, Palm Coast's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Palm Coast's latest annual appreciation rate is higher than 18% of the other cities and towns in Florida.