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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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, 3,486 houses or apartments, and a median cost of homes of $290,094, North Bay Village real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in North Bay Village, accounting for 89.81% of the city's housing units. Other types of housing that are prevalent in North Bay Village include single-family detached homes ( 8.98%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

North Bay Village is dominated by renter-occupied one, two, or no bedrooms apartments. 67.98% of North Bay Village's dwellings are rentals.

North Bay Village homes and real estate are some of the newest in America. 37.67% of North Bay Village's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the North Bay Village real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 36.89%), and between 1970-1999 ( 24.72%).

Vacant housing appears to be an issue in North Bay Village. Fully 22.29% 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 55.16% over the last ten years, which is an average annual home appreciation rate of 4.49%, 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 6.11%, has been at or slightly above the national average. In the latest quarter, North Bay Village's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Florida, our data show that North Bay Village's latest annual appreciation rate is lower than 50% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$290,094

North Bay Village, FL HOME PRICES

Value Range
> $1,211,000 2.5
$908,001 - $1,211,000 7.7
$605,001 - $908,000 11.0
$484,001 - $605,000 12.5
$363,001 - $484,000 13.4
$242,001 - $363,000 26.2
$121,001 - $242,000 18.3
$60,001 - $121,000 6.4
$0 - $60,000 2.0

High for FL
High for Nation

Value Relative to Nation Value Relative to State
20.4963503649635 31.4893617021277

Number Of Homes And Apartments:
3,486

North Bay Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
187.27% 5.63%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,322 / per month

Homeownership Rate

Homeownership
Owners 32.02
Renters 67.98
Vacant 22.29

Housing Market Details

 

Age of Homes

AGE OF North Bay Village HOMES
2000 or Newer 37.7
1970 - 1999 24.7
1940 - 1969 36.9
1939 or Older 0.7

Types of Homes

TYPE OF North Bay Village HOMES
Single-Family 9.0
Townhomes 0.2
Small Apt. Buildings 0.6
Apt. Complexes 89.8
Mobile Homes 0.0
Other 0.4

Home Size

SIZE OF North Bay Village HOMES
No Bedroom 4.01
1 Bedroom 31.83
2 Bedrooms 50.36
3 Bedrooms 12.39
4 Bedrooms 1.03
5 or more bedrooms 0.38

Popular Neighborhoods in North Bay Village

Zip Codes in North Bay Village, FL