Pembroke Pines, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Pembroke Pines Neighborhoods Since 2000




Pembroke Pines, 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

Pembroke Pines Housing Market Information

With 166,611 people, 56,171 houses or apartments, and a median cost of homes of $308,021, Pembroke Pines real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Pembroke Pines, accounting for 48.71% of the city's housing units. Other types of housing that are prevalent in Pembroke Pines include large apartment complexes or high rise apartments ( 33.74%), row houses and other attached homes ( 14.45%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.95%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pembroke Pines. Owner-occupied housing accounts for 71.87% of Pembroke Pines's homes, and 53.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Pembroke Pines 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 Pembroke Pines built between 2000 and later ( 13.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.99%).

Vacant housing appears to be an issue in Pembroke Pines. Fully 11.91% of the housing stock is classified as vacant. Left unchecked, vacant Pembroke Pines homes and apartments can be a drag on the real estate market, holding Pembroke Pines 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.

Pembroke Pines Home Appreciation Rates

Pembroke Pines's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Pembroke Pines during the period has been just -1.79%, which is lower than 80% of US communities.

Appreciation rates are so strong in Pembroke Pines that despite a nationwide downturn in the housing market, Pembroke Pines real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pembroke Pines appreciation rates continue to be some of the highest in America, at 5.85%, which is higher than appreciation rates in 72.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pembroke Pines. Pembroke Pines appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.

Importantly, this makes Pembroke Pines 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 Pembroke Pines's latest annual appreciation rate is lower than 70% 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 Pembroke Pines differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pembroke Pines - 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 Pembroke Pines real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$308,021

Pembroke Pines, FL HOME PRICES

Value Range
> $1,312,000 0.5
$984,001 - $1,312,000 0.5
$656,001 - $984,000 3.8
$524,001 - $656,000 7.7
$394,001 - $524,000 17.3
$262,001 - $394,000 26.3
$131,001 - $262,000 29.0
$65,001 - $131,000 11.2
$0 - $65,000 3.6

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
15.6510019922653 26.9230769230769

Number Of Homes And Apartments:
56,171

Pembroke Pines 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
100.22% 4.11% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,065 / per month

Homeownership Rate

Homeownership
Owners 71.87
Renters 28.13
Vacant 11.91

Housing Market Details

 

Age of Homes

AGE OF Pembroke Pines HOMES
2000 or Newer 13.6
1970 - 1999 78.2
1940 - 1969 8.0
1939 or Older 0.1

Types of Homes

TYPE OF Pembroke Pines HOMES
Single-Family 48.7
Townhomes 14.4
Small Apt. Buildings 2.0
Apt. Complexes 33.7
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Pembroke Pines HOMES
No Bedroom 0.83
1 Bedroom 9.88
2 Bedrooms 32.83
3 Bedrooms 33.78
4 Bedrooms 19.55
5 or more bedrooms 3.13