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 5,795, 2,109 total housing units (homes and apartments), and a median house value of $127,450, house prices in De Funiak Springs are solidly below the national average.
Single-family detached homes are the single most common housing type in De Funiak Springs, accounting for 77.33% of the city's housing units. Other types of housing that are prevalent in De Funiak Springs include large apartment complexes or high rise apartments ( 11.30%), duplexes, homes converted to apartments or other small apartment buildings ( 7.44%), and a few mobile homes or trailers ( 2.35%).
The most prevalent building size and type in De Funiak Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.86% owning and 38.14% renting.
There is a lot of housing in De Funiak Springs 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 De Funiak Springs built between 1940-1969 ( 30.70%). A lesser amount of the housing stock also hails from before 1939 ( 12.74%). There's also some housing in De Funiak Springs built between 2000 and later ( 10.60%).
Vacant housing appears to be an issue in De Funiak Springs. Fully 26.00% of the housing stock is classified as vacant. Left unchecked, vacant De Funiak Springs homes and apartments can be a drag on the real estate market, holding De Funiak Springs 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.
De Funiak Springs's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in De Funiak Springs during the period has been just -1.86%, which is lower than 80% of US communities.
Appreciation rates are so strong in De Funiak Springs that despite a nationwide downturn in the housing market, De Funiak Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, De Funiak Springs appreciation rates continue to be some of the highest in America, at 5.94%, which is higher than appreciation rates in 73.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in De Funiak Springs. De Funiak Springs appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.41%.
Importantly, this makes De Funiak Springs 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 De Funiak Springs's latest annual appreciation rate is lower than 70% of the other cities and towns in Florida.
|$881,001 - $1,175,000||0.0|
|$588,001 - $881,000||0.7|
|$470,001 - $588,000||3.6|
|$353,001 - $470,000||7.4|
|$235,001 - $353,000||8.5|
|$117,001 - $235,000||33.6|
|$59,001 - $117,000||24.2|
|$0 - $59,000||21.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF De Funiak Springs HOMES|
|2000 or Newer||10.6|
|1970 - 1999||46.0|
|1940 - 1969||30.7|
|1939 or Older||12.7|
|TYPE OF De Funiak Springs HOMES|
|Small Apt. Buildings||7.4|
|SIZE OF De Funiak Springs HOMES|
|5 or more bedrooms||1.86|