Melbourne Beach, FL Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Melbourne Beach, FL Housing Market Trends

With a population of 3,298, 1,230 total housing units (homes and apartments), and a median house value of $427,428, real estate costs in Melbourne Beach are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.

Single-family detached homes are the single most common housing type in Melbourne Beach, accounting for 73.18% of the town's housing units. Other types of housing that are prevalent in Melbourne Beach include large apartment complexes or high rise apartments ( 21.42%), row houses and other attached homes ( 4.23%).

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 84.96% of Melbourne Beach's homes, and 73.31% 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 ( 36.00%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.39%). There's also some housing in Melbourne Beach built before 1939 ( 2.08%).

Vacant housing appears to be an issue in Melbourne Beach. Fully 19.92% 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.

Melbourne Beach Home Appreciation Rates

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 95.37% over the last ten years, which is an average annual home appreciation rate of 6.93%, 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.

NeighborhoodScout's data show that during the latest twelve months, Melbourne Beach's appreciation rate, at 9.64%, has been at or slightly above the national average. In the latest quarter, Melbourne Beach's appreciation rate has been 3.07%, which annualizes to a rate of 12.87%.

Relative to Florida, our data show that Melbourne Beach's latest annual appreciation rate is lower than 60% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$427,428

Melbourne Beach, FL HOME PRICES

> $1,289,000
3.8%
3.8%
$966,001 - $1,289,000
3.3%
3.3%
$644,001 - $966,000
15.8%
15.8%
$515,001 - $644,000
15.1%
15.1%
$387,001 - $515,000
22.4%
22.4%
$257,001 - $387,000
14.0%
14.0%
$129,001 - $257,000
13.5%
13.5%
$64,001 - $129,000
5.4%
5.4%
$0 - $64,000
6.7%
6.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for FL

Value Relative To Nation

Number Of Homes And Apartments:
1,230

Melbourne Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
168.37% 4.70%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,432 / per month

Homeownership Rate

Owners
85.0%
85.0%
Renters
15.0%
15.0%
Vacant
19.9%
19.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.4%
3.4%
1970 - 1999
58.5%
58.5%
1940 - 1969
36.0%
36.0%
1939 or Older
2.1%
2.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.2%
73.2%
Townhomes
4.2%
4.2%
Small Apt. Buildings
0.5%
0.5%
Apt. Complexes
21.4%
21.4%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
1.2%
1.2%
2 Bedrooms
21.0%
21.0%
3 Bedrooms
51.5%
51.5%
4 Bedrooms
21.8%
21.8%
5 or more bedrooms
4.4%
4.4%
0.0% 100.0%
% OF HOMES