Cape Canaveral, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Cape Canaveral Neighborhoods Since 2000




Cape Canaveral, 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

Cape Canaveral Housing Market Information

With a population of 10,206, 5,602 total housing units (homes and apartments), and a median house value of $333,347, real estate costs in Cape Canaveral are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.

Large apartment complexes or high rise apartments are the single most common housing type in Cape Canaveral, accounting for 59.06% of the city's housing units. Other types of housing that are prevalent in Cape Canaveral include row houses and other attached homes ( 15.13%), duplexes, homes converted to apartments or other small apartment buildings ( 12.69%), and a few single-family detached homes ( 8.44%). 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 Cape Canaveral primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Cape Canaveral has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Cape Canaveral 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 Cape Canaveral built between 1940-1969 ( 30.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.70%).

Vacant housing appears to be an issue in Cape Canaveral. Fully 37.77% of the housing stock is classified as vacant. Left unchecked, vacant Cape Canaveral homes and apartments can be a drag on the real estate market, holding Cape Canaveral 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.

Cape Canaveral Home Appreciation Rates

Real estate appreciation rates in Cape Canaveral's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.25% during the period.

Appreciation rates are so strong in Cape Canaveral that despite a nationwide downturn in the housing market, Cape Canaveral real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cape Canaveral appreciation rates continue to be some of the highest in America, at 24.95%, which is higher than appreciation rates in 99.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cape Canaveral. Cape Canaveral appreciation rates in the latest quarter were at 2.32%, which equates to an annual appreciation rate of 9.60%.

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

Average Home Values

 

Median Home Value:
$333,347

Cape Canaveral, FL HOME PRICES

Value Range
> $1,661,000 1.4
$1,246,001 - $1,661,000 0.7
$831,001 - $1,246,000 3.3
$665,001 - $831,000 7.7
$498,001 - $665,000 9.0
$332,001 - $498,000 26.8
$166,001 - $332,000 30.2
$83,001 - $166,000 12.6
$0 - $83,000 8.4

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
13.4419313254424 24.5726495726496

Number Of Homes And Apartments:
5,602

Cape Canaveral 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
126.38% 4.85% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$991 / per month

Homeownership Rate

Homeownership
Owners 56.77
Renters 43.23
Vacant 37.77

Housing Market Details

 

Age of Homes

AGE OF Cape Canaveral HOMES
2000 or Newer 19.7
1970 - 1999 49.8
1940 - 1969 30.5
1939 or Older 0.0

Types of Homes

TYPE OF Cape Canaveral HOMES
Single-Family 8.4
Townhomes 15.1
Small Apt. Buildings 12.7
Apt. Complexes 59.1
Mobile Homes 4.1
Other 0.6

Home Size

SIZE OF Cape Canaveral HOMES
No Bedroom 4.23
1 Bedroom 15.34
2 Bedrooms 53.10
3 Bedrooms 24.43
4 Bedrooms 2.79
5 or more bedrooms 0.11

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Zip Codes in Cape Canaveral, FL