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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 51,117, 17,954 total housing units (homes and apartments), and a median house value of $912,927, 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 55.82% of the city's housing units. Other types of housing that are prevalent in Coral Gables include large apartment complexes or high rise apartments ( 36.59%), duplexes, homes converted to apartments or other small apartment buildings ( 4.77%), and a few row houses and other attached homes ( 2.36%).
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 43.02% of the city's housing hails from this era. Other housing ages represented in Coral Gables include homes built between 1970-1999 ( 28.67%) and housing constructed between 2000 and later ( 15.61%). There's also some housing in Coral Gables built before 1939 ( 12.70%).
Vacant housing appears to be an issue in Coral Gables. Fully 15.22% 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.
Appreciation rates for homes in Coral Gables have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.63%, which ranks in the top 30% nationwide. This equates to an annual average Coral Gables house appreciation rate of 1.20%.
Appreciation rates are so strong in Coral Gables that despite a nationwide downturn in the housing market, Coral Gables real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Coral Gables appreciation rates continue to be some of the highest in America, at 8.47%, which is higher than appreciation rates in 85.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Coral Gables. Coral Gables appreciation rates in the latest quarter were at 2.75%, which equates to an annual appreciation rate of 11.48%.
Relative to Florida, our data show that Coral Gables'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 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.
|$1,030,001 - $1,373,000||11.1|
|$687,001 - $1,030,000||21.7|
|$550,001 - $687,000||12.6|
|$412,001 - $550,000||12.5|
|$275,001 - $412,000||8.8|
|$137,001 - $275,000||8.0|
|$69,001 - $137,000||1.4|
|$0 - $69,000||1.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Coral Gables HOMES|
|2000 or Newer||15.6|
|1970 - 1999||28.7|
|1940 - 1969||43.0|
|1939 or Older||12.7|
|TYPE OF Coral Gables HOMES|
|Small Apt. Buildings||4.8|
|SIZE OF Coral Gables HOMES|
|5 or more bedrooms||9.09|