Boca Raton FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Boca Raton Housing Market Information

With 99,244 people, 40,434 houses or apartments, and a median cost of homes of $526,822, 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 45.26% of the city's housing units. Other types of housing that are prevalent in Boca Raton include large apartment complexes or high rise apartments ( 43.36%), row houses and other attached homes ( 7.75%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.19%).

Dwellings in Boca Raton tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 48.08% 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 ( 20.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.70%).

Vacant housing appears to be an issue in Boca Raton. Fully 22.77% 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

In the last 10 years, Boca Raton has experienced some of the highest home appreciation rates of any community in the nation. Boca Raton real estate appreciated 74.06% over the last ten years, which is an average annual home appreciation rate of 5.70%, putting Boca Raton in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Boca Raton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Boca Raton appreciation rates have trailed the rest of the nation. In the last twelve months, Boca Raton's appreciation rate has been 3.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Boca Raton were at 1.88%, which equates to an annual appreciation rate of 7.74%.

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 90% 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:
$526,822

Boca Raton, FL HOME PRICES

Value Range
> $1,220,000 11.8
$915,001 - $1,220,000 7.2
$610,001 - $915,000 18.2
$488,001 - $610,000 12.4
$366,001 - $488,000 17.9
$244,001 - $366,000 14.6
$122,001 - $244,000 11.8
$61,001 - $122,000 4.4
$0 - $61,000 1.8

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
6.91970802919708 12.3404255319149

Number Of Homes And Apartments:
40,434

Boca Raton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
146.98% 4.51%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,606 / per month

Homeownership Rate

Homeownership
Owners 69.31
Renters 30.69
Vacant 22.77

Housing Market Details

 

Age of Homes

AGE OF Boca Raton HOMES
2000 or Newer 9.7
1970 - 1999 69.6
1940 - 1969 20.4
1939 or Older 0.3

Types of Homes

TYPE OF Boca Raton HOMES
Single-Family 45.3
Townhomes 7.7
Small Apt. Buildings 3.2
Apt. Complexes 43.4
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Boca Raton HOMES
No Bedroom 1.70
1 Bedroom 7.74
2 Bedrooms 38.64
3 Bedrooms 32.30
4 Bedrooms 14.25
5 or more bedrooms 5.36