Cocoa Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cocoa Beach Neighborhoods Since 2000




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 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

Cocoa Beach Housing Market Information

With 11,595 people, 5,796 houses or apartments, and a median cost of homes of $340,060, 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 54.84% of the city's housing units. Other types of housing that are prevalent in Cocoa Beach include single-family detached homes ( 30.00%), duplexes, homes converted to apartments or other small apartment buildings ( 11.44%), and a few row houses and other attached homes ( 3.38%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Cocoa Beach primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Cocoa Beach has a mixture of owner-occupied and renter-occupied housing.

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 ( 39.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.35%).

Vacant housing appears to be an issue in Cocoa Beach. Fully 33.64% 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

Real estate appreciation rates in Cocoa Beach's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.66% during the period.

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 12.52%, which is higher than appreciation rates in 98.05% 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 2.32%, which equates to an annual appreciation rate of 9.60%.

Importantly, this makes Cocoa Beach 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 Cocoa Beach's latest annual appreciation rate is higher than 80% 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:
$340,060

Cocoa Beach, FL HOME PRICES

Value Range
> $1,412,000 1.3
$1,059,001 - $1,412,000 3.6
$706,001 - $1,059,000 6.5
$565,001 - $706,000 6.5
$423,001 - $565,000 18.7
$282,001 - $423,000 27.8
$141,001 - $282,000 29.0
$70,001 - $141,000 3.5
$0 - $70,000 3.1

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
12.9438649947264 23.5042735042735

Number Of Homes And Apartments:
5,796

Cocoa Beach 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
115.83% 4.56% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,344 / per month

Homeownership Rate

Homeownership
Owners 64.30
Renters 35.70
Vacant 33.64

Housing Market Details

 

Age of Homes

AGE OF Cocoa Beach HOMES
2000 or Newer 5.3
1970 - 1999 54.7
1940 - 1969 39.1
1939 or Older 0.8

Types of Homes

TYPE OF Cocoa Beach HOMES
Single-Family 30.0
Townhomes 3.4
Small Apt. Buildings 11.4
Apt. Complexes 54.8
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Cocoa Beach HOMES
No Bedroom 1.03
1 Bedroom 8.62
2 Bedrooms 47.36
3 Bedrooms 31.67
4 Bedrooms 9.16
5 or more bedrooms 2.16