Coral Gables, 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

Coral Gables Housing Market Information

With a population of 49,700, 17,820 total housing units (homes and apartments), and a median house value of $939,449, Coral Gables house prices are not only among the most expensive in Florida, Coral Gables 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 Coral Gables, accounting for 55.21% of the city's housing units. Other types of housing that are prevalent in Coral Gables include large apartment complexes or high rise apartments ( 37.18%), duplexes, homes converted to apartments or other small apartment buildings ( 4.70%), and a few row houses and other attached homes ( 2.68%).

People in Coral Gables primarily live in small (one, two or no bedroom) single-family detached homes. Coral Gables has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Coral Gables's housing was primarily built during this period, from the '40s through the '60s. A full 42.42% of the city's housing hails from this era. Other housing ages represented in Coral Gables include homes built between 1970-1999 ( 25.31%) and housing constructed between 2000 and later ( 19.10%). There's also some housing in Coral Gables built before 1939 ( 13.18%).

Vacant housing appears to be an issue in Coral Gables. Fully 16.10% of the housing stock is classified as vacant. Left unchecked, vacant Coral Gables homes and apartments can be a drag on the real estate market, holding Coral Gables 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.

Coral Gables Home Appreciation Rates

In the last 10 years, Coral Gables has experienced some of the highest home appreciation rates of any community in the nation. Coral Gables real estate appreciated 75.91% over the last ten years, which is an average annual home appreciation rate of 5.81%, putting Coral Gables in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Coral Gables definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Coral Gables's appreciation rate, at 4.25%, has been at or slightly above the national average. In the latest quarter, Coral Gables's appreciation rate has been 1.07%, which annualizes to a rate of 4.34%.

Relative to Florida, our data show that Coral Gables's latest annual appreciation rate is lower 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 Coral Gables differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Coral Gables - 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 Coral Gables real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$939,449

Coral Gables, FL HOME PRICES

> $1,183,000
31.2%
31.2%
$887,001 - $1,183,000
17.5%
17.5%
$591,001 - $887,000
21.0%
21.0%
$473,001 - $591,000
8.6%
8.6%
$355,001 - $473,000
7.5%
7.5%
$236,001 - $355,000
6.9%
6.9%
$118,001 - $236,000
5.0%
5.0%
$59,001 - $118,000
1.1%
1.1%
$0 - $59,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for FL

Value Relative To Nation

Number Of Homes And Apartments:
17,820

Coral Gables 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
152.68% 4.57%
8
10
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$3,056 / per month

Homeownership Rate

Owners
58.0%
58.0%
Renters
42.0%
42.0%
Vacant
16.1%
16.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
19.1%
19.1%
1970 - 1999
25.3%
25.3%
1940 - 1969
42.4%
42.4%
1939 or Older
13.2%
13.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
55.2%
55.2%
Townhomes
2.7%
2.7%
Small Apt. Buildings
4.7%
4.7%
Apt. Complexes
37.2%
37.2%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.5%
3.5%
1 Bedroom
14.3%
14.3%
2 Bedrooms
30.3%
30.3%
3 Bedrooms
27.2%
27.2%
4 Bedrooms
14.5%
14.5%
5 or more bedrooms
10.1%
10.1%
0.0% 100.0%
% OF HOMES