Altamonte Springs, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Altamonte Springs, FL Housing Market Trends

With 44,143 people, 19,393 houses or apartments, and a median cost of homes of $243,545, 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 55.22% of the city's housing units. Other types of housing that are prevalent in Altamonte Springs include single-family detached homes ( 23.63%), duplexes, homes converted to apartments or other small apartment buildings ( 11.05%), and a few row houses and other attached homes ( 9.86%). 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.

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 2000 and later ( 12.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.16%).

Vacant housing appears to be an issue in Altamonte Springs. Fully 11.81% 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

In the last 10 years, Altamonte Springs has experienced some of the highest home appreciation rates of any community in the nation. Altamonte Springs real estate appreciated 74.35% over the last ten years, which is an average annual home appreciation rate of 5.72%, putting Altamonte Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Altamonte Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Altamonte Springs's appreciation rate, at 6.16%, has been at or slightly above the national average. In the latest quarter, Altamonte Springs's appreciation rate has been 2.55%, which annualizes to a rate of 10.60%.

Relative to Florida, our data show that Altamonte Springs's latest annual appreciation rate is lower 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:
$243,545

Altamonte Springs, FL HOME PRICES

> $1,253,000
0.5%
0.5%
$939,001 - $1,253,000
0.6%
0.6%
$626,001 - $939,000
2.6%
2.6%
$501,001 - $626,000
2.7%
2.7%
$376,001 - $501,000
8.6%
8.6%
$251,001 - $376,000
29.0%
29.0%
$125,001 - $251,000
38.0%
38.0%
$63,001 - $125,000
15.0%
15.0%
$0 - $63,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for FL

Value Relative To Nation

Number Of Homes And Apartments:
19,393

Altamonte Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
124.03% 3.92%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,655 / per month

Homeownership Rate

Owners
38.6%
38.6%
Renters
61.4%
61.4%
Vacant
11.8%
11.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
12.3%
12.3%
1970 - 1999
80.0%
80.0%
1940 - 1969
7.2%
7.2%
1939 or Older
0.5%
0.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
23.6%
23.6%
Townhomes
9.9%
9.9%
Small Apt. Buildings
11.1%
11.1%
Apt. Complexes
55.2%
55.2%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.6%
3.6%
1 Bedroom
20.7%
20.7%
2 Bedrooms
37.8%
37.8%
3 Bedrooms
27.8%
27.8%
4 Bedrooms
8.9%
8.9%
5 or more bedrooms
1.2%
1.2%
0.0% 100.0%
% OF HOMES