Mayo, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mayo, 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

Mayo Housing Market Information

With a population of 1,237, 419 total housing units (homes and apartments), and a median house value of $140,800, Mayo real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Mayo, accounting for 45.74% of the town's housing units. Other types of housing that are prevalent in Mayo include mobile homes or trailers ( 30.56%), large apartment complexes or high rise apartments ( 15.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.15%).

People in Mayo primarily live in small (one, two or no bedroom) single-family detached homes. Mayo has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Mayo 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 Mayo built before 1939 ( 19.26%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.33%). There's also some housing in Mayo built between 1940-1969 ( 9.44%).

Vacant housing appears to be an issue in Mayo. Fully 22.41% of the housing stock is classified as vacant. Left unchecked, vacant Mayo homes and apartments can be a drag on the real estate market, holding Mayo 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.

Mayo Home Appreciation Rates

Mayo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mayo during the period has been just -1.83%, which is lower than 80% of US communities.

Over the last year, Mayo appreciation rates have trailed the rest of the nation. In the last twelve months, Mayo's appreciation rate has been 2.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mayo were at 1.20%, which equates to an annual appreciation rate of 4.89%.

Relative to Florida, our data show that Mayo's latest annual appreciation rate is lower than 80% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$140,800

Mayo, FL HOME PRICES

Value Range
> $1,218,000 2.8
$913,001 - $1,218,000 2.4
$608,001 - $913,000 0.0
$487,001 - $608,000 1.5
$365,001 - $487,000 7.2
$243,001 - $365,000 7.0
$122,001 - $243,000 34.0
$61,001 - $122,000 23.2
$0 - $61,000 21.8

Low for FL
Average for Nation

Value Relative to Nation Value Relative to State
54.3683347005742 68.5897435897436

Number Of Homes And Apartments:
419

Mayo 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
107.07% 4.31% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$663 / per month

Homeownership Rate

Homeownership
Owners 62.61
Renters 37.39
Vacant 22.41

Housing Market Details

 

Age of Homes

AGE OF Mayo HOMES
2000 or Newer 18.3
1970 - 1999 53.0
1940 - 1969 9.4
1939 or Older 19.3

Types of Homes

TYPE OF Mayo HOMES
Single-Family 45.7
Townhomes 0.0
Small Apt. Buildings 8.1
Apt. Complexes 15.6
Mobile Homes 30.6
Other 0.0

Home Size

SIZE OF Mayo HOMES
No Bedroom 10.00
1 Bedroom 2.78
2 Bedrooms 37.59
3 Bedrooms 37.78
4 Bedrooms 11.85
5 or more bedrooms 0.00

Popular Neighborhoods in Mayo

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Zip Codes in Mayo, FL