Miami Shores, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Miami Shores Neighborhoods Since 2000




Miami Shores, FL Real Estate Data


Miami Shores Housing Market Information

With 10,831 people, 3,398 houses or apartments, and a median cost of homes of $432,886, Miami Shores house prices are not only among the most expensive in Florida, Miami Shores 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 Miami Shores, accounting for 81.31% of the village's housing units. Other types of housing that are prevalent in Miami Shores include large apartment complexes or high rise apartments ( 9.38%), row houses and other attached homes ( 7.12%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.18%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Miami Shores. Owner-occupied housing accounts for 77.96% of Miami Shores's homes, and 63.94% 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. Miami Shores's housing was primarily built during this period, from the '40s through the '60s. A full 68.65% of the village's housing hails from this era. Other housing ages represented in Miami Shores include homes built before 1939 ( 17.06%) and housing constructed between 1970-1999 ( 12.98%). There's also some housing in Miami Shores built between 2000 and later ( 1.31%).

Vacant housing appears to be an issue in Miami Shores. Fully 10.70% of the housing stock is classified as vacant. Left unchecked, vacant Miami Shores homes and apartments can be a drag on the real estate market, holding Miami Shores 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.

Miami Shores Home Appreciation Rates

Real estate appreciation rates in Miami Shores's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.49% during the period.

Appreciation rates are so strong in Miami Shores that despite a nationwide downturn in the housing market, Miami Shores real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Miami Shores appreciation rates continue to be some of the highest in America, at 9.33%, which is higher than appreciation rates in 96.47% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Miami Shores. Miami Shores 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 Miami Shores's latest annual appreciation rate is higher than 50% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$432,886

Miami Shores, FL HOME PRICES

Value Range
> $1,502,000 1.5
$1,127,001 - $1,502,000 1.7
$751,001 - $1,127,000 12.6
$601,001 - $751,000 9.2
$451,001 - $601,000 19.8
$301,001 - $451,000 17.4
$150,001 - $301,000 24.5
$75,001 - $150,000 9.5
$0 - $75,000 3.8

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
8.22158458745681 14.1025641025641

Number Of Homes And Apartments:
3,398

Rent & Ownership

 

Average Market Rent:
$1,827 / per month

Homeownership Rate

Homeownership
Owners 77.96
Renters 22.04
Vacant 10.70

Housing Market Details

 

Age of Homes

AGE OF Miami Shores HOMES
2000 or Newer 1.3
1970 - 1999 13.0
1940 - 1969 68.6
1939 or Older 17.1

Types of Homes

TYPE OF Miami Shores HOMES
Single-Family 81.3
Townhomes 7.1
Small Apt. Buildings 2.2
Apt. Complexes 9.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Miami Shores HOMES
No Bedroom 0.47
1 Bedroom 4.97
2 Bedrooms 26.44
3 Bedrooms 50.93
4 Bedrooms 13.01
5 or more bedrooms 4.18

Miami Shores 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
145.61% 5.43% 10 10
* 10 is highest