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
With a population of 3,312, 1,414 total housing units (homes and apartments), and a median house value of $189,069, Nokomis real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Nokomis, accounting for 62.64% of the town's housing units. Other types of housing that are prevalent in Nokomis include mobile homes or trailers ( 30.35%), duplexes, homes converted to apartments or other small apartment buildings ( 2.96%), and a few row houses and other attached homes ( 2.45%).
Dwellings in Nokomis tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 54.04% of the homes in Nokomis have two or fewer bedrooms.
There is a lot of housing in Nokomis 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 Nokomis built between 1940-1969 ( 40.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 6.89%). There's also some housing in Nokomis built before 1939 ( 2.96%).
Vacant housing appears to be an issue in Nokomis. Fully 19.48% of the housing stock is classified as vacant. Left unchecked, vacant Nokomis homes and apartments can be a drag on the real estate market, holding Nokomis 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.
Nokomis's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Nokomis during the period has been just -1.25%, which is lower than 70% of US communities.
Appreciation rates are so strong in Nokomis that despite a nationwide downturn in the housing market, Nokomis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Nokomis appreciation rates continue to be some of the highest in America, at 8.63%, which is higher than appreciation rates in 89.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Nokomis. Nokomis appreciation rates in the latest quarter were at 2.40%, which equates to an annual appreciation rate of 9.95%.
Importantly, this makes Nokomis 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 Nokomis's latest annual appreciation rate is higher than 50% of the other cities and towns in Florida.
|$1,011,001 - $1,348,000||4.4|
|$674,001 - $1,011,000||5.4|
|$539,001 - $674,000||7.9|
|$404,001 - $539,000||9.4|
|$270,001 - $404,000||16.1|
|$135,001 - $270,000||16.6|
|$67,001 - $135,000||22.6|
|$0 - $67,000||14.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Nokomis HOMES|
|2000 or Newer||6.9|
|1970 - 1999||50.1|
|1940 - 1969||40.0|
|1939 or Older||3.0|
|TYPE OF Nokomis HOMES|
|Small Apt. Buildings||3.0|
|SIZE OF Nokomis HOMES|
|5 or more bedrooms||2.85|