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 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.
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.
|$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|
|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 Hernando HOMES|
|2000 or Newer||16.4|
|1970 - 1999||66.4|
|1940 - 1969||16.9|
|1939 or Older||0.3|
|TYPE OF Hernando HOMES|
|Small Apt. Buildings||1.6|
|SIZE OF Hernando HOMES|
|5 or more bedrooms||1.53|