Longboat Key, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Longboat Key Neighborhoods Since 2000




Longboat Key, 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

Longboat Key Housing Market Information

With 7,266 people, 3,867 houses or apartments, and a median cost of homes of $861,767, Longboat Key house prices are not only among the most expensive in Florida, Longboat Key real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Longboat Key, accounting for 64.32% of the town's housing units. Other types of housing that are prevalent in Longboat Key include single-family detached homes ( 24.26%), row houses and other attached homes ( 5.34%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.24%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in Longboat Key tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 66.54% of the homes in Longboat Key have two or fewer bedrooms.

There is a lot of housing in Longboat Key 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 Longboat Key built between 1940-1969 ( 15.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.33%).

A decent proportion of the Longboat Key housing stock is seasonally occupied. That is, homes and condos in Longboat Key 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 Longboat Key housing market speaks to its popularity as a vacation location of choice.

Longboat Key Home Appreciation Rates

Appreciation rates for homes in Longboat Key have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.61%, which ranks in the top 50% nationwide. This equates to an annual average Longboat Key house appreciation rate of 0.26%.

Appreciation rates are so strong in Longboat Key that despite a nationwide downturn in the housing market, Longboat Key real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Longboat Key appreciation rates continue to be some of the highest in America, at 10.41%, which is higher than appreciation rates in 94.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Longboat Key. Longboat Key appreciation rates in the latest quarter were at 2.40%, which equates to an annual appreciation rate of 9.95%.

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

Average Home Values

 

Median Home Value:
$861,767

Longboat Key, FL HOME PRICES

Value Range
> $1,343,000 23.0
$1,007,001 - $1,343,000 17.7
$672,001 - $1,007,000 20.5
$537,001 - $672,000 8.2
$403,001 - $537,000 10.7
$269,001 - $403,000 8.7
$135,001 - $269,000 8.2
$67,001 - $135,000 1.3
$0 - $67,000 1.6

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
1.59381225829134 2.77777777777778

Number Of Homes And Apartments:
3,867

Longboat Key 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
97.23% 4.02% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,198 / per month

Homeownership Rate

Homeownership
Owners 89.84
Renters 10.16
Vacant 58.90

Housing Market Details

 

Age of Homes

AGE OF Longboat Key HOMES
2000 or Newer 3.3
1970 - 1999 80.2
1940 - 1969 15.9
1939 or Older 0.6

Types of Homes

TYPE OF Longboat Key HOMES
Single-Family 24.3
Townhomes 5.3
Small Apt. Buildings 3.2
Apt. Complexes 64.3
Mobile Homes 2.8
Other 0.0

Home Size

SIZE OF Longboat Key HOMES
No Bedroom 2.58
1 Bedroom 7.65
2 Bedrooms 56.31
3 Bedrooms 26.17
4 Bedrooms 5.72
5 or more bedrooms 1.57