Hernando, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hernando, 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

Hernando Housing Market Information

With 8,944 people, 4,121 houses or apartments, and a median cost of homes of $130,383, house prices in Hernando are solidly below the national average.

Mobile homes or trailers are the single most common housing type in Hernando, accounting for 50.06% of the town's housing units. Other types of housing that are prevalent in Hernando include single-family detached homes ( 46.35%), large apartment complexes or high rise apartments ( 1.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.60%).

Dwellings in Hernando tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.32% of the homes in Hernando have two or fewer bedrooms.

There is a lot of housing in Hernando 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 Hernando built between 1940-1969 ( 16.89%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.41%).

Vacant housing appears to be an issue in Hernando. Fully 27.59% of the housing stock is classified as vacant. Left unchecked, vacant Hernando homes and apartments can be a drag on the real estate market, holding Hernando 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.

Hernando Home Appreciation Rates

Homes have actually lost value in Hernando over the last then years, as home values have seen a decline of 32.22% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hernando home appreciation rates at 2.96%, which equates to an annual appreciation rate of 12.39%.

Appreciation rates are so strong in Hernando that despite a nationwide downturn in the housing market, Hernando real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hernando appreciation rates continue to be some of the highest in America, at 9.77%, which is higher than appreciation rates in 93.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hernando. Hernando appreciation rates in the latest quarter were at 2.96%, which equates to an annual appreciation rate of 12.39%.

Importantly, this makes Hernando 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 Hernando's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$130,383

Hernando, FL HOME PRICES

Value Range
> $1,194,000 0.0
$896,001 - $1,194,000 1.1
$597,001 - $896,000 1.3
$478,001 - $597,000 0.3
$358,001 - $478,000 0.9
$239,001 - $358,000 9.3
$120,001 - $239,000 37.8
$60,001 - $120,000 30.3
$0 - $60,000 19.0

Low for FL
Average for Nation

Value Relative to Nation Value Relative to State
59.6624868158912 75.0

Number Of Homes And Apartments:
4,121

Hernando 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
23.93% 1.25% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$943 / per month

Homeownership Rate

Homeownership
Owners 81.14
Renters 18.86
Vacant 27.59

Housing Market Details

 

Age of Homes

AGE OF Hernando HOMES
2000 or Newer 16.4
1970 - 1999 66.4
1940 - 1969 16.9
1939 or Older 0.3

Types of Homes

TYPE OF Hernando HOMES
Single-Family 46.4
Townhomes 0.1
Small Apt. Buildings 1.6
Apt. Complexes 1.8
Mobile Homes 50.1
Other 0.0

Home Size

SIZE OF Hernando HOMES
No Bedroom 0.16
1 Bedroom 8.66
2 Bedrooms 47.50
3 Bedrooms 39.13
4 Bedrooms 3.02
5 or more bedrooms 1.53

Popular Neighborhoods in Hernando

Zip Codes in Hernando, FL