Ormond Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Ormond Beach Neighborhoods Since 2000




Ormond Beach, 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

Ormond Beach Housing Market Information

With 40,970 people, 16,223 houses or apartments, and a median cost of homes of $217,205, Ormond Beach real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Ormond Beach, accounting for 67.43% of the city's housing units. Other types of housing that are prevalent in Ormond Beach include large apartment complexes or high rise apartments ( 15.08%), row houses and other attached homes ( 7.77%), and a few mobile homes or trailers ( 7.62%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ormond Beach. Owner-occupied housing accounts for 73.13% of Ormond Beach's homes, and 62.15% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Ormond Beach 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 Ormond Beach built between 1940-1969 ( 21.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.67%).

Vacant housing appears to be an issue in Ormond Beach. Fully 18.35% of the housing stock is classified as vacant. Left unchecked, vacant Ormond Beach homes and apartments can be a drag on the real estate market, holding Ormond Beach 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.

Ormond Beach Home Appreciation Rates

Homes have actually lost value in Ormond Beach over the last then years, as home values have seen a decline of 19.24% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Ormond Beach home appreciation rates at 3.34%, which equates to an annual appreciation rate of 14.06%.

Appreciation rates are so strong in Ormond Beach that despite a nationwide downturn in the housing market, Ormond Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ormond Beach appreciation rates continue to be some of the highest in America, at 13.26%, which is higher than appreciation rates in 98.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ormond Beach. Ormond Beach appreciation rates in the latest quarter were at 3.34%, which equates to an annual appreciation rate of 14.06%.

Importantly, NeighborhoodScout’s exclusive research found that Ormond Beach's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Florida, our data show that Ormond Beach's latest annual appreciation rate is higher than 90% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Ormond Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ormond Beach - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Ormond Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$217,205

Ormond Beach, FL HOME PRICES

Value Range
> $1,358,000 0.9
$1,018,001 - $1,358,000 1.0
$679,001 - $1,018,000 2.9
$544,001 - $679,000 2.0
$407,001 - $544,000 8.1
$272,001 - $407,000 20.6
$135,001 - $272,000 43.1
$68,001 - $135,000 10.9
$0 - $68,000 10.4

High for FL
High for Nation

Value Relative to Nation Value Relative to State
28.2608695652174 39.7435897435897

Number Of Homes And Apartments:
16,223

Ormond Beach 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
75.50% 3.31% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,441 / per month

Homeownership Rate

Homeownership
Owners 73.13
Renters 26.87
Vacant 18.35

Housing Market Details

 

Age of Homes

AGE OF Ormond Beach HOMES
2000 or Newer 18.7
1970 - 1999 59.1
1940 - 1969 21.2
1939 or Older 1.0

Types of Homes

TYPE OF Ormond Beach HOMES
Single-Family 67.4
Townhomes 7.8
Small Apt. Buildings 2.1
Apt. Complexes 15.1
Mobile Homes 7.6
Other 0.0

Home Size

SIZE OF Ormond Beach HOMES
No Bedroom 1.18
1 Bedroom 5.52
2 Bedrooms 28.87
3 Bedrooms 50.41
4 Bedrooms 11.74
5 or more bedrooms 2.29