Cocoa Beach, FL Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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, FL Housing Market Trends

With a population of 11,705, 6,030 total housing units (homes and apartments), and a median house value of $370,895, Cocoa Beach real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Cocoa Beach, accounting for 59.12% of the city's housing units. Other types of housing that are prevalent in Cocoa Beach include single-family detached homes ( 30.19%), duplexes, homes converted to apartments or other small apartment buildings ( 7.58%), and a few row houses and other attached homes ( 2.74%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in Cocoa Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.53% 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 ( 40.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.43%).

Vacant housing appears to be an issue in Cocoa Beach. Fully 33.47% 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 81.47% over the last ten years, which is an average annual home appreciation rate of 6.14%, 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 7.12%, which is higher than appreciation rates in 88.28% 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 1.48%, which equates to an annual appreciation rate of 6.04%.

Notably, Cocoa Beach's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Cocoa Beach's latest annual appreciation rate is lower than 50% 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

 
info

Median Home Value:
$370,895

Cocoa Beach, FL HOME PRICES

> $1,213,000
3.0%
3.0%
$910,001 - $1,213,000
5.5%
5.5%
$607,001 - $910,000
14.4%
14.4%
$486,001 - $607,000
10.5%
10.5%
$364,001 - $486,000
18.7%
18.7%
$243,001 - $364,000
28.8%
28.8%
$122,001 - $243,000
15.9%
15.9%
$61,001 - $122,000
1.5%
1.5%
$0 - $61,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for FL

Value Relative To Nation

Number Of Homes And Apartments:
6,030

Cocoa Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
147.44% 4.41%
7
10
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,663 / per month

Homeownership Rate

Owners
69.2%
69.2%
Renters
30.8%
30.8%
Vacant
33.5%
33.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
3.4%
3.4%
1970 - 1999
55.5%
55.5%
1940 - 1969
40.6%
40.6%
1939 or Older
0.4%
0.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
30.2%
30.2%
Townhomes
2.7%
2.7%
Small Apt. Buildings
7.6%
7.6%
Apt. Complexes
59.1%
59.1%
Mobile Homes
0.4%
0.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.4%
1.4%
1 Bedroom
10.3%
10.3%
2 Bedrooms
44.9%
44.9%
3 Bedrooms
33.5%
33.5%
4 Bedrooms
8.8%
8.8%
5 or more bedrooms
1.2%
1.2%
0.0% 100.0%
% OF HOMES