Boca Raton, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Boca Raton Neighborhoods Since 2000




Boca Raton, 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

Boca Raton Housing Market Information

With 93,235 people, 37,224 houses or apartments, and a median cost of homes of $482,727, Boca Raton house prices are not only among the most expensive in Florida, Boca Raton real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Boca Raton, accounting for 45.45% of the city's housing units. Other types of housing that are prevalent in Boca Raton include large apartment complexes or high rise apartments ( 42.54%), row houses and other attached homes ( 6.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.89%).

Dwellings in Boca Raton tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 47.96% of the homes in Boca Raton have two or fewer bedrooms.

There is a lot of housing in Boca Raton 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 Boca Raton built between 1940-1969 ( 22.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.37%).

Vacant housing appears to be an issue in Boca Raton. Fully 19.85% of the housing stock is classified as vacant. Left unchecked, vacant Boca Raton homes and apartments can be a drag on the real estate market, holding Boca Raton 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.

Boca Raton Home Appreciation Rates

Real estate appreciation rates in Boca Raton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.62% during the period.

Appreciation rates are so strong in Boca Raton that despite a nationwide downturn in the housing market, Boca Raton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Boca Raton appreciation rates continue to be some of the highest in America, at 7.18%, which is higher than appreciation rates in 82.36% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Boca Raton. Boca Raton appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.

Importantly, this makes Boca Raton 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 Boca Raton'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 Boca Raton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Boca Raton - 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 Boca Raton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$482,727

Boca Raton, FL HOME PRICES

Value Range
> $1,352,000 8.5
$1,014,001 - $1,352,000 6.4
$676,001 - $1,014,000 13.8
$541,001 - $676,000 9.7
$406,001 - $541,000 16.5
$270,001 - $406,000 20.2
$135,001 - $270,000 16.2
$68,001 - $135,000 6.5
$0 - $68,000 2.1

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
6.39282784483769 10.8974358974359

Number Of Homes And Apartments:
37,224

Boca Raton 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
117.33% 4.60% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,065 / per month

Homeownership Rate

Homeownership
Owners 66.30
Renters 33.70
Vacant 19.85

Housing Market Details

 

Age of Homes

AGE OF Boca Raton HOMES
2000 or Newer 8.4
1970 - 1999 68.9
1940 - 1969 22.4
1939 or Older 0.3

Types of Homes

TYPE OF Boca Raton HOMES
Single-Family 45.5
Townhomes 6.8
Small Apt. Buildings 4.9
Apt. Complexes 42.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Boca Raton HOMES
No Bedroom 1.87
1 Bedroom 10.11
2 Bedrooms 35.98
3 Bedrooms 32.65
4 Bedrooms 14.60
5 or more bedrooms 4.78