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 6,500, 2,613 total housing units (homes and apartments), and a median house value of $663,512, Islamorada house prices are not only among the most expensive in Florida, Islamorada real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Islamorada, accounting for 62.65% of the village's housing units. Other types of housing that are prevalent in Islamorada include large apartment complexes or high rise apartments ( 20.11%), duplexes, homes converted to apartments or other small apartment buildings ( 7.15%), and a few mobile homes or trailers ( 6.05%).
Dwellings in Islamorada tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 58.04% of the homes in Islamorada have two or fewer bedrooms.
There is a lot of housing in Islamorada 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 Islamorada built between 1940-1969 ( 18.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.00%).
A decent proportion of the Islamorada housing stock is seasonally occupied. That is, homes and condos in Islamorada 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 Islamorada housing market speaks to its popularity as a vacation location of choice.
Real estate appreciation rates in Islamorada's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.69% during the period.
Appreciation rates are so strong in Islamorada that despite a nationwide downturn in the housing market, Islamorada real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Islamorada appreciation rates continue to be some of the highest in America, at 13.11%, which is higher than appreciation rates in 98.53% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Islamorada. Islamorada appreciation rates in the latest quarter were at 1.20%, which equates to an annual appreciation rate of 4.89%.
Relative to Florida, our data show that Islamorada's latest annual appreciation rate is higher than 90% of the other cities and towns in Florida.
|$1,050,001 - $1,400,000||13.5|
|$700,001 - $1,050,000||23.8|
|$560,001 - $700,000||9.7|
|$420,001 - $560,000||12.0|
|$280,001 - $420,000||15.2|
|$140,001 - $280,000||4.8|
|$70,001 - $140,000||1.7|
|$0 - $70,000||5.6|
|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 Islamorada HOMES|
|2000 or Newer||7.0|
|1970 - 1999||74.1|
|1940 - 1969||18.4|
|1939 or Older||0.5|
|TYPE OF Islamorada HOMES|
|Small Apt. Buildings||7.2|
|SIZE OF Islamorada HOMES|
|5 or more bedrooms||3.65|