Cutler Bay, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cutler Bay, 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

Cutler Bay Housing Market Information

With a population of 44,865, 12,848 total housing units (homes and apartments), and a median house value of $293,888, Cutler Bay real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cutler Bay, accounting for 76.28% of the town's housing units. Other types of housing that are prevalent in Cutler Bay include large apartment complexes or high rise apartments ( 13.40%), row houses and other attached homes ( 8.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.08%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cutler Bay. Owner-occupied housing accounts for 71.32% of Cutler Bay's homes, and 76.52% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cutler Bay 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 Cutler Bay built between 1940-1969 ( 25.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.71%).

Cutler Bay Home Appreciation Rates

Cutler Bay's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cutler Bay during the period has been just -1.57%, which is lower than 80% of US communities.

Appreciation rates are so strong in Cutler Bay that despite a nationwide downturn in the housing market, Cutler Bay real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cutler Bay appreciation rates continue to be some of the highest in America, at 8.77%, which is higher than appreciation rates in 89.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cutler Bay. Cutler Bay appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.

Importantly, this makes Cutler Bay one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$293,888

Cutler Bay, FL HOME PRICES

Value Range
> $1,435,000 0.2
$1,076,001 - $1,435,000 0.2
$718,001 - $1,076,000 3.8
$574,001 - $718,000 2.4
$431,001 - $574,000 12.4
$287,001 - $431,000 30.2
$143,001 - $287,000 42.7
$72,001 - $143,000 5.5
$0 - $72,000 2.5

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
16.8287823743115 27.3504273504274

Number Of Homes And Apartments:
12,848

Cutler Bay 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
121.67% 4.72% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,834 / per month

Homeownership Rate

Homeownership
Owners 71.32
Renters 28.68
Vacant 7.80

Housing Market Details

 

Age of Homes

AGE OF Cutler Bay HOMES
2000 or Newer 22.7
1970 - 1999 51.5
1940 - 1969 25.7
1939 or Older 0.1

Types of Homes

TYPE OF Cutler Bay HOMES
Single-Family 76.3
Townhomes 8.9
Small Apt. Buildings 1.1
Apt. Complexes 13.4
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Cutler Bay HOMES
No Bedroom 1.33
1 Bedroom 4.22
2 Bedrooms 10.96
3 Bedrooms 53.15
4 Bedrooms 23.37
5 or more bedrooms 6.98