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 7,233, 3,212 total housing units (homes and apartments), and a median house value of $124,670, house prices in Inverness are solidly below the national average.
Single-family detached homes are the single most common housing type in Inverness, accounting for 51.64% of the city's housing units. Other types of housing that are prevalent in Inverness include row houses and other attached homes ( 15.69%), large apartment complexes or high rise apartments ( 14.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.70%).
People in Inverness primarily live in small (one, two or no bedroom) single-family detached homes. Inverness has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Inverness 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 Inverness built between 1940-1969 ( 16.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.33%). There's also some housing in Inverness built before 1939 ( 2.38%).
Vacant housing appears to be an issue in Inverness. Fully 16.14% of the housing stock is classified as vacant. Left unchecked, vacant Inverness homes and apartments can be a drag on the real estate market, holding Inverness 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 Inverness over the last then years, as home values have seen a decline of 29.36% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Inverness home appreciation rates at 2.96%, which equates to an annual appreciation rate of 12.39%.
Appreciation rates are so strong in Inverness that despite a nationwide downturn in the housing market, Inverness real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Inverness appreciation rates continue to be some of the highest in America, at 8.39%, which is higher than appreciation rates in 88.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Inverness. Inverness appreciation rates in the latest quarter were at 2.96%, which equates to an annual appreciation rate of 12.39%.
Importantly, this makes Inverness 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 Inverness'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 Inverness differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Inverness - 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 Inverness real estate investment or home purchase decisions.
|$928,001 - $1,238,000||0.7|
|$619,001 - $928,000||0.7|
|$495,001 - $619,000||1.4|
|$371,001 - $495,000||2.4|
|$248,001 - $371,000||8.7|
|$124,001 - $248,000||34.9|
|$62,001 - $124,000||40.3|
|$0 - $62,000||10.5|
|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 Inverness HOMES|
|2000 or Newer||8.3|
|1970 - 1999||73.1|
|1940 - 1969||16.2|
|1939 or Older||2.4|
|TYPE OF Inverness HOMES|
|Small Apt. Buildings||10.7|
|SIZE OF Inverness HOMES|
|5 or more bedrooms||0.84|