Altamonte Springs, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Altamonte Springs Neighborhoods Since 2000




Altamonte Springs, FL Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Altamonte Springs Housing Market Information

With a population of 43,159, 16,709 total housing units (homes and apartments), and a median house value of $201,620, Altamonte Springs real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Altamonte Springs, accounting for 54.01% of the city's housing units. Other types of housing that are prevalent in Altamonte Springs include single-family detached homes ( 28.40%), row houses and other attached homes ( 8.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.73%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Altamonte Springs primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Altamonte Springs has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Altamonte Springs 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 Altamonte Springs built between 1940-1969 ( 8.48%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.59%).

Vacant housing appears to be an issue in Altamonte Springs. Fully 26.62% of the housing stock is classified as vacant. Left unchecked, vacant Altamonte Springs homes and apartments can be a drag on the real estate market, holding Altamonte Springs 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.

Altamonte Springs Home Appreciation Rates

Homes have actually lost value in Altamonte Springs over the last then years, as home values have seen a decline of 23.05% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Altamonte Springs home appreciation rates at 2.68%, which equates to an annual appreciation rate of 11.16%.

Appreciation rates are so strong in Altamonte Springs that despite a nationwide downturn in the housing market, Altamonte Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Altamonte Springs appreciation rates continue to be some of the highest in America, at 10.18%, which is higher than appreciation rates in 94.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Altamonte Springs. Altamonte Springs appreciation rates in the latest quarter were at 2.68%, which equates to an annual appreciation rate of 11.16%.

Importantly, this makes Altamonte Springs 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 Altamonte Springs's latest annual appreciation rate is higher than 60% 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 city. Individual neighborhoods within Altamonte Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Altamonte Springs - 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 Altamonte Springs real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$201,620

Altamonte Springs, FL HOME PRICES

Value Range
> $1,364,000 0.2
$1,023,001 - $1,364,000 0.1
$682,001 - $1,023,000 1.2
$546,001 - $682,000 1.3
$409,001 - $546,000 4.2
$273,001 - $409,000 16.2
$136,001 - $273,000 43.7
$68,001 - $136,000 25.1
$0 - $68,000 8.1

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
31.8586663541545 45.7264957264957

Number Of Homes And Apartments:
16,709

Altamonte Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
68.32% 3.06% 4 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,349 / per month

Homeownership Rate

Homeownership
Owners 45.95
Renters 54.05
Vacant 26.62

Housing Market Details

 

Age of Homes

AGE OF Altamonte Springs HOMES
2000 or Newer 7.6
1970 - 1999 83.6
1940 - 1969 8.5
1939 or Older 0.3

Types of Homes

TYPE OF Altamonte Springs HOMES
Single-Family 28.4
Townhomes 8.9
Small Apt. Buildings 8.7
Apt. Complexes 54.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Altamonte Springs HOMES
No Bedroom 1.65
1 Bedroom 22.27
2 Bedrooms 37.87
3 Bedrooms 26.01
4 Bedrooms 11.55
5 or more bedrooms 0.64