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 3,219 people, 1,211 houses or apartments, and a median cost of homes of $389,860, Melbourne Beach house prices are not only among the most expensive in Florida, Melbourne Beach 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 Melbourne Beach, accounting for 78.56% of the town's housing units. Other types of housing that are prevalent in Melbourne Beach include large apartment complexes or high rise apartments ( 13.48%), duplexes, homes converted to apartments or other small apartment buildings ( 6.33%), and a few row houses and other attached homes ( 1.64%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Melbourne Beach. Owner-occupied housing accounts for 78.20% of Melbourne Beach's homes, and 71.48% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Melbourne Beach's housing was primarily built during this period, from the '40s through the '60s. A full 45.64% of the town's housing hails from this era. Other housing ages represented in Melbourne Beach include homes built between 1970-1999 ( 42.00%) and housing constructed between 2000 and later ( 8.49%). There's also some housing in Melbourne Beach built before 1939 ( 3.87%).
Real estate appreciation rates in Melbourne Beach's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.66% during the period.
Appreciation rates are so strong in Melbourne Beach that despite a nationwide downturn in the housing market, Melbourne Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Melbourne Beach appreciation rates continue to be some of the highest in America, at 9.73%, which is higher than appreciation rates in 93.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Melbourne Beach. Melbourne Beach appreciation rates in the latest quarter were at 2.32%, which equates to an annual appreciation rate of 9.60%.
Importantly, this makes Melbourne Beach 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 Melbourne Beach's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.
|$1,025,001 - $1,367,000||1.8|
|$683,001 - $1,025,000||8.7|
|$547,001 - $683,000||9.7|
|$410,001 - $547,000||21.7|
|$274,001 - $410,000||30.8|
|$137,001 - $274,000||16.0|
|$68,001 - $137,000||3.5|
|$0 - $68,000||4.5|
|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 Melbourne Beach HOMES|
|2000 or Newer||8.5|
|1970 - 1999||42.0|
|1940 - 1969||45.6|
|1939 or Older||3.9|
|TYPE OF Melbourne Beach HOMES|
|Small Apt. Buildings||6.3|
|SIZE OF Melbourne Beach HOMES|
|5 or more bedrooms||6.03|