Destin, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Destin, FL Real Estate Data


Destin Housing Market Information

With a population of 13,523, 5,544 total housing units (homes and apartments), and a median house value of $348,835, real estate costs in Destin are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.

Large apartment complexes or high rise apartments are the single most common housing type in Destin, accounting for 53.28% of the city's housing units. Other types of housing that are prevalent in Destin include single-family detached homes ( 37.42%), duplexes, homes converted to apartments or other small apartment buildings ( 4.78%), and a few row houses and other attached homes ( 3.30%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

Owner-occupied, three and four bedroom dwellings are the most prevalent type of housing you will see in Destin. Owner-occupied housing accounts for 67.95% of Destin's homes, and 51.01% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Destin 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 Destin built between 2000 and later ( 24.08%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.92%).

A decent proportion of the Destin housing stock is seasonally occupied. That is, homes and condos in Destin are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Destin housing market speaks to its popularity as a vacation location of choice.

Destin Home Appreciation Rates

Homes have actually lost value in Destin over the last then years, as home values have seen a decline of 24.37% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Destin home appreciation rates at 5.35%, which equates to an annual appreciation rate of 23.18%.

Appreciation rates are so strong in Destin that despite a nationwide downturn in the housing market, Destin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Destin appreciation rates continue to be some of the highest in America, at 8.76%, which is higher than appreciation rates in 94.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Destin. Destin appreciation rates in the latest quarter were at 5.35%, which equates to an annual appreciation rate of 23.18%.

Importantly, this makes Destin 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 Destin'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 Destin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Destin - 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 Destin real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$348,835

Destin, FL HOME PRICES

Value Range
> $1,282,000 4.9
$961,001 - $1,282,000 4.3
$641,001 - $961,000 6.3
$513,001 - $641,000 7.6
$385,001 - $513,000 14.4
$256,001 - $385,000 27.9
$128,001 - $256,000 28.8
$64,001 - $128,000 4.2
$0 - $64,000 1.5

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
12.7012941383147 23.0769230769231

Number Of Homes And Apartments:
5,544

Rent & Ownership

 

Average Market Rent:
$1,697 / per month

Homeownership Rate

Homeownership
Owners 67.95
Renters 32.05
Vacant 58.33

Housing Market Details

 

Age of Homes

AGE OF Destin HOMES
2000 or Newer 24.1
1970 - 1999 71.8
1940 - 1969 3.9
1939 or Older 0.2

Types of Homes

TYPE OF Destin HOMES
Single-Family 37.4
Townhomes 3.3
Small Apt. Buildings 4.8
Apt. Complexes 53.3
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Destin HOMES
No Bedroom 2.56
1 Bedroom 10.54
2 Bedrooms 34.06
3 Bedrooms 41.36
4 Bedrooms 9.64
5 or more bedrooms 1.84

Destin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
70.96% 3.20% 5 9
* 10 is highest