Miami Springs, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Miami Springs Neighborhoods Since 2000




Miami Springs, 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

Miami Springs Housing Market Information

With a population of 14,490, 4,923 total housing units (homes and apartments), and a median house value of $409,207, Miami Springs house prices are not only among the most expensive in Florida, Miami Springs 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 Springs, accounting for 65.95% of the city's housing units. Other types of housing that are prevalent in Miami Springs include large apartment complexes or high rise apartments ( 26.16%), duplexes, homes converted to apartments or other small apartment buildings ( 7.01%).

People in Miami Springs primarily live in small (one, two or no bedroom) single-family detached homes. Miami Springs has a mixture of owner-occupied and renter-occupied housing.

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 Springs's housing was primarily built during this period, from the '40s through the '60s. A full 70.53% of the city's housing hails from this era. Other housing ages represented in Miami Springs include homes built between 1970-1999 ( 20.51%) and housing constructed before 1939 ( 8.10%).

Miami Springs Home Appreciation Rates

Real estate appreciation rates in Miami Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.21% during the period.

Appreciation rates are so strong in Miami Springs that despite a nationwide downturn in the housing market, Miami Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Miami Springs appreciation rates continue to be some of the highest in America, at 8.72%, which is higher than appreciation rates in 89.78% 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 Springs. Miami Springs appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.

Importantly, this makes Miami Springs 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 Miami Springs's latest annual appreciation rate is higher than 50% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$409,207

Miami Springs, FL HOME PRICES

Value Range
> $1,398,000 1.1
$1,049,001 - $1,398,000 0.2
$699,001 - $1,049,000 6.6
$559,001 - $699,000 6.7
$420,001 - $559,000 29.7
$280,001 - $420,000 34.4
$140,001 - $280,000 15.2
$70,001 - $140,000 4.7
$0 - $70,000 1.5

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
9.04722840735966 15.3846153846154

Number Of Homes And Apartments:
4,923

Miami Springs 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
131.73% 4.99% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,276 / per month

Homeownership Rate

Homeownership
Owners 56.83
Renters 43.17
Vacant 5.73

Housing Market Details

 

Age of Homes

AGE OF Miami Springs HOMES
2000 or Newer 0.9
1970 - 1999 20.5
1940 - 1969 70.5
1939 or Older 8.1

Types of Homes

TYPE OF Miami Springs HOMES
Single-Family 66.0
Townhomes 0.7
Small Apt. Buildings 7.0
Apt. Complexes 26.2
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Miami Springs HOMES
No Bedroom 5.19
1 Bedroom 21.35
2 Bedrooms 25.89
3 Bedrooms 34.87
4 Bedrooms 10.84
5 or more bedrooms 1.86