Pembroke Pines, FL Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Pembroke Pines, FL Housing Market Trends

With 173,591 people, 57,323 houses or apartments, and a median cost of homes of $393,589, 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 48.36% of the city's housing units. Other types of housing that are prevalent in Pembroke Pines include large apartment complexes or high rise apartments ( 31.81%), row houses and other attached homes ( 14.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.43%).

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 70.65% of Pembroke Pines's homes, and 49.96% 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 ( 15.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.73%).

Vacant housing appears to be an issue in Pembroke Pines. Fully 10.16% 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

In the last 10 years, Pembroke Pines has experienced some of the highest home appreciation rates of any community in the nation. Pembroke Pines real estate appreciated 112.84% over the last ten years, which is an average annual home appreciation rate of 7.85%, putting Pembroke Pines in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pembroke Pines 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, Pembroke Pines's appreciation rate, at 10.22%, has been at or slightly above the national average. In the latest quarter, Pembroke Pines's appreciation rate has been 3.43%, which annualizes to a rate of 14.42%.

Relative to Florida, our data show that Pembroke Pines's latest annual appreciation rate is lower than 50% 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:
$393,589

Pembroke Pines, FL HOME PRICES

> $1,283,000
0.6%
0.6%
$962,001 - $1,283,000
1.2%
1.2%
$641,001 - $962,000
8.9%
8.9%
$513,001 - $641,000
14.5%
14.5%
$384,001 - $513,000
24.6%
24.6%
$257,001 - $384,000
26.2%
26.2%
$128,001 - $257,000
17.1%
17.1%
$64,001 - $128,000
5.2%
5.2%
$0 - $64,000
1.6%
1.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for FL

Value Relative To Nation

Number Of Homes And Apartments:
57,323

Pembroke Pines Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
175.85% 4.83%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,524 / per month

Homeownership Rate

Owners
70.6%
70.6%
Renters
29.4%
29.4%
Vacant
10.2%
10.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
15.9%
15.9%
1970 - 1999
76.2%
76.2%
1940 - 1969
7.7%
7.7%
1939 or Older
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.4%
48.4%
Townhomes
14.3%
14.3%
Small Apt. Buildings
3.4%
3.4%
Apt. Complexes
31.8%
31.8%
Mobile Homes
2.1%
2.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.9%
1.9%
1 Bedroom
9.8%
9.8%
2 Bedrooms
34.8%
34.8%
3 Bedrooms
33.3%
33.3%
4 Bedrooms
16.7%
16.7%
5 or more bedrooms
3.4%
3.4%
0.0% 100.0%
% OF HOMES