Medley, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Medley, FL Real Estate Data


Medley Housing Market Information

With a population of 851, 341 total housing units (homes and apartments), and a median house value of $221,267, Medley real estate prices are well above average cost compared to national prices.

Mobile homes or trailers are the single most common housing type in Medley, accounting for 52.67% of the town's housing units. Other types of housing that are prevalent in Medley include single-family detached homes ( 21.37%), duplexes, homes converted to apartments or other small apartment buildings ( 11.45%), and a few large apartment complexes or high rise apartments ( 11.20%).

People in Medley primarily live in small (one, two or no bedroom) mobile homes or trailers. Medley has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Medley 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 Medley built between 2000 and later ( 26.46%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.37%). There's also some housing in Medley built before 1939 ( 4.58%).

Vacant housing appears to be an issue in Medley. Fully 13.23% of the housing stock is classified as vacant. Left unchecked, vacant Medley homes and apartments can be a drag on the real estate market, holding Medley 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.

Medley Home Appreciation Rates

Homes have actually lost value in Medley over the last then years, as home values have seen a decline of 19.22% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Medley home appreciation rates at 2.59%, which equates to an annual appreciation rate of 10.76%.

Appreciation rates are so strong in Medley that despite a nationwide downturn in the housing market, Medley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Medley appreciation rates continue to be some of the highest in America, at 9.61%, which is higher than appreciation rates in 97.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Medley. Medley appreciation rates in the latest quarter were at 2.59%, which equates to an annual appreciation rate of 10.76%.

Relative to Florida, our data show that Medley's latest annual appreciation rate is higher than 50% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$221,267

Medley, FL HOME PRICES

Value Range
> $1,483,000 0.0
$1,113,001 - $1,483,000 4.6
$742,001 - $1,113,000 0.0
$593,001 - $742,000 0.0
$445,001 - $593,000 6.1
$297,001 - $445,000 24.2
$148,001 - $297,000 27.3
$74,001 - $148,000 18.4
$0 - $74,000 19.3

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
28.3422146747087 41.8803418803419

Number Of Homes And Apartments:
341

Rent & Ownership

 

Average Market Rent:
$1,309 / per month

Homeownership Rate

Homeownership
Owners 54.84
Renters 45.16
Vacant 13.23

Housing Market Details

 

Age of Homes

AGE OF Medley HOMES
2000 or Newer 26.5
1970 - 1999 47.6
1940 - 1969 21.4
1939 or Older 4.6

Types of Homes

TYPE OF Medley HOMES
Single-Family 21.4
Townhomes 1.8
Small Apt. Buildings 11.5
Apt. Complexes 11.2
Mobile Homes 52.7
Other 1.5

Home Size

SIZE OF Medley HOMES
No Bedroom 0.51
1 Bedroom 12.47
2 Bedrooms 54.20
3 Bedrooms 26.21
4 Bedrooms 6.62
5 or more bedrooms 0.00

Medley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
88.48% 3.80% 7 10
* 10 is highest