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 about Scout's Real Estate Data
With a population of 3,235, 1,374 total housing units (homes and apartments), and a median house value of $601,104, 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 72.01% of the town's housing units. Other types of housing that are prevalent in Melbourne Beach include large apartment complexes or high rise apartments ( 17.43%), duplexes, homes converted to apartments or other small apartment buildings ( 6.22%), and a few row houses and other attached homes ( 3.64%).
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 82.02% of Melbourne Beach's homes, and 67.25% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Melbourne Beach 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 Melbourne Beach built between 1940-1969 ( 34.80%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.81%). There's also some housing in Melbourne Beach built before 1939 ( 1.94%).
Vacant housing appears to be an issue in Melbourne Beach. Fully 19.37% of the housing stock is classified as vacant. Left unchecked, vacant Melbourne Beach homes and apartments can be a drag on the real estate market, holding Melbourne Beach 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.
In the last 10 years, Melbourne Beach has experienced some of the highest home appreciation rates of any community in the nation. Melbourne Beach real estate appreciated 158.69% over the last ten years, which is an average annual home appreciation rate of 9.97%, putting Melbourne Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Melbourne Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
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 22.99%, which is higher than appreciation rates in 95.54% 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 7.36%, which equates to an annual appreciation rate of 32.86%.
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 lower than 50% of the other cities and towns in Florida.
Very High for Nation
Very High for FL