Melbourne, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Melbourne Neighborhoods Since 2000




Melbourne, 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

Melbourne Housing Market Information

With a population of 80,127, 33,619 total housing units (homes and apartments), and a median house value of $178,169, Melbourne real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Melbourne, accounting for 55.53% of the city's housing units. Other types of housing that are prevalent in Melbourne include large apartment complexes or high rise apartments ( 26.96%), duplexes, homes converted to apartments or other small apartment buildings ( 7.65%), and a few mobile homes or trailers ( 5.18%).

The most prevalent building size and type in Melbourne are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.00% owning and 43.00% renting.

There is a lot of housing in Melbourne 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 built between 1940-1969 ( 25.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.45%). There's also some housing in Melbourne built before 1939 ( 1.62%).

Vacant housing appears to be an issue in Melbourne. Fully 16.23% of the housing stock is classified as vacant. Left unchecked, vacant Melbourne homes and apartments can be a drag on the real estate market, holding Melbourne 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 Home Appreciation Rates

Melbourne's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Melbourne during the period has been just -1.90%, which is lower than 80% of US communities.

Appreciation rates are so strong in Melbourne that despite a nationwide downturn in the housing market, Melbourne real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Melbourne appreciation rates continue to be some of the highest in America, at 14.32%, which is higher than appreciation rates in 99.14% 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. Melbourne appreciation rates in the latest quarter were at 2.32%, which equates to an annual appreciation rate of 9.60%.

Importantly, this makes Melbourne one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Florida, our data show that Melbourne's latest annual appreciation rate is higher than 90% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Melbourne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Melbourne - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Melbourne real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$178,169

Melbourne, FL HOME PRICES

Value Range
> $1,451,000 0.4
$1,088,001 - $1,451,000 0.5
$726,001 - $1,088,000 1.3
$580,001 - $726,000 1.9
$435,001 - $580,000 3.4
$290,001 - $435,000 10.2
$145,001 - $290,000 39.3
$73,001 - $145,000 31.3
$0 - $73,000 11.6

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
38.7524903316536 55.982905982906

Number Of Homes And Apartments:
33,619

Melbourne 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
77.92% 3.40% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,114 / per month

Homeownership Rate

Homeownership
Owners 57.00
Renters 43.00
Vacant 16.23

Housing Market Details

 

Age of Homes

AGE OF Melbourne HOMES
2000 or Newer 13.4
1970 - 1999 59.3
1940 - 1969 25.6
1939 or Older 1.6

Types of Homes

TYPE OF Melbourne HOMES
Single-Family 55.5
Townhomes 4.7
Small Apt. Buildings 7.7
Apt. Complexes 27.0
Mobile Homes 5.2
Other 0.0

Home Size

SIZE OF Melbourne HOMES
No Bedroom 2.28
1 Bedroom 12.77
2 Bedrooms 32.59
3 Bedrooms 40.74
4 Bedrooms 10.36
5 or more bedrooms 1.25