North Bay Village, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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North Bay Village, 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 Q3 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

North Bay Village Housing Market Information

With 8,317 people, 3,264 houses or apartments, and a median cost of homes of $386,608, real estate costs in North Bay Village 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.

Large apartment complexes or high rise apartments are the single most common housing type in North Bay Village, accounting for 88.35% of the city's housing units. Other types of housing that are prevalent in North Bay Village include single-family detached homes ( 10.05%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

North Bay Village is dominated by renter-occupied one, two, or no bedrooms apartments. 65.70% of North Bay Village's dwellings are rentals.

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. North Bay Village's housing was primarily built during this period, from the '40s through the '60s. A full 40.08% of the city's housing hails from this era. Other housing ages represented in North Bay Village include homes built between 2000 and later ( 33.85%) and housing constructed between 1970-1999 ( 25.44%).

Vacant housing appears to be an issue in North Bay Village. Fully 26.59% of the housing stock is classified as vacant. Left unchecked, vacant North Bay Village homes and apartments can be a drag on the real estate market, holding North Bay Village 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.

North Bay Village Home Appreciation Rates

In the last 10 years, North Bay Village has experienced some of the highest home appreciation rates of any community in the nation. North Bay Village real estate appreciated 43.94% over the last ten years, which is an average annual home appreciation rate of 3.71%, putting North Bay Village in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, North Bay Village 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, North Bay Village's appreciation rate, at 6.73%, has been at or slightly above the national average. In the latest quarter, North Bay Village's appreciation rate has been 1.95%, which annualizes to a rate of 8.03%.

Relative to Florida, our data show that North Bay Village's latest annual appreciation rate is lower than 80% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$386,608

North Bay Village, FL HOME PRICES

Value Range
> $1,342,000 2.4
$1,007,001 - $1,342,000 6.6
$671,001 - $1,007,000 6.9
$537,001 - $671,000 13.8
$403,001 - $537,000 16.8
$269,001 - $403,000 27.0
$134,001 - $269,000 16.6
$67,001 - $134,000 6.4
$0 - $67,000 3.5

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
12.2569343065693 21.4893617021277

Number Of Homes And Apartments:
3,264

North Bay Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
Since 2000:
2000 Q1 - 2018 Q3
178.91% 5.62%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,293 / per month

Homeownership Rate

Homeownership
Owners 34.30
Renters 65.70
Vacant 26.59

Housing Market Details

 

Age of Homes

AGE OF North Bay Village HOMES
2000 or Newer 33.9
1970 - 1999 25.4
1940 - 1969 40.1
1939 or Older 0.6

Types of Homes

TYPE OF North Bay Village HOMES
Single-Family 10.1
Townhomes 0.9
Small Apt. Buildings 0.3
Apt. Complexes 88.3
Mobile Homes 0.0
Other 0.4

Home Size

SIZE OF North Bay Village HOMES
No Bedroom 4.32
1 Bedroom 29.87
2 Bedrooms 49.75
3 Bedrooms 13.41
4 Bedrooms 2.11
5 or more bedrooms 0.54

Popular Neighborhoods in North Bay Village

Zip Codes in North Bay Village, FL