Cocoa Beach FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Cocoa Beach, 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 Q3 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 about Scout's Real Estate Data

Cocoa Beach Housing Market Information

With a population of 11,705, 5,803 total housing units (homes and apartments), and a median house value of $386,084, real estate costs in Cocoa Beach 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 Cocoa Beach, accounting for 57.92% of the city's housing units. Other types of housing that are prevalent in Cocoa Beach include single-family detached homes ( 30.82%), duplexes, homes converted to apartments or other small apartment buildings ( 8.07%), and a few row houses and other attached homes ( 2.80%). 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.

Dwellings in Cocoa Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 58.19% of the homes in Cocoa Beach have two or fewer bedrooms.

There is a lot of housing in Cocoa Beach 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 Cocoa Beach built between 1940-1969 ( 41.07%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.84%).

Vacant housing appears to be an issue in Cocoa Beach. Fully 33.85% of the housing stock is classified as vacant. Left unchecked, vacant Cocoa Beach homes and apartments can be a drag on the real estate market, holding Cocoa Beach 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.

Cocoa Beach Home Appreciation Rates

In the last 10 years, Cocoa Beach has experienced some of the highest home appreciation rates of any community in the nation. Cocoa Beach real estate appreciated 73.96% over the last ten years, which is an average annual home appreciation rate of 5.69%, putting Cocoa Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cocoa Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Cocoa Beach that despite a nationwide downturn in the housing market, Cocoa Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cocoa Beach appreciation rates continue to be some of the highest in America, at 5.12%, which is higher than appreciation rates in 73.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cocoa Beach. Cocoa Beach appreciation rates in the latest quarter were at 1.19%, which equates to an annual appreciation rate of 4.85%.

Relative to Florida, our data show that Cocoa Beach'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 Cocoa Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cocoa Beach - 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 Cocoa Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$386,084

Cocoa Beach, FL HOME PRICES

Value Range
> $1,250,000 2.7
$937,001 - $1,250,000 5.9
$625,001 - $937,000 12.3
$500,001 - $625,000 9.7
$375,001 - $500,000 19.2
$250,001 - $375,000 26.8
$125,001 - $250,000 18.8
$62,001 - $125,000 2.3
$0 - $62,000 2.3

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
13.570802919708 22.9787234042553

Number Of Homes And Apartments:
5,803

Cocoa Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
141.92% 4.35%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,613 / per month

Homeownership Rate

Homeownership
Owners 65.90
Renters 34.10
Vacant 33.85

Housing Market Details

 

Age of Homes

AGE OF Cocoa Beach HOMES
2000 or Newer 3.8
1970 - 1999 54.2
1940 - 1969 41.1
1939 or Older 0.9

Types of Homes

TYPE OF Cocoa Beach HOMES
Single-Family 30.8
Townhomes 2.8
Small Apt. Buildings 8.1
Apt. Complexes 57.9
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Cocoa Beach HOMES
No Bedroom 2.01
1 Bedroom 10.17
2 Bedrooms 46.02
3 Bedrooms 31.35
4 Bedrooms 9.42
5 or more bedrooms 1.05