Pinellas Park FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Pinellas Park, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Pinellas Park Housing Market Information

With a population of 53,098, 21,085 total housing units (homes and apartments), and a median house value of $205,830, Pinellas Park real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Pinellas Park, accounting for 53.84% of the city's housing units. Other types of housing that are prevalent in Pinellas Park include large apartment complexes or high rise apartments ( 18.39%), mobile homes or trailers ( 13.78%), and a few row houses and other attached homes ( 7.01%).

People in Pinellas Park primarily live in small (one, two or no bedroom) single-family detached homes. Pinellas Park has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Pinellas Park 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 Pinellas Park built between 1940-1969 ( 26.20%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.44%).

Vacant housing appears to be an issue in Pinellas Park. Fully 13.68% of the housing stock is classified as vacant. Left unchecked, vacant Pinellas Park homes and apartments can be a drag on the real estate market, holding Pinellas Park 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.

Pinellas Park Home Appreciation Rates

In the last 10 years, Pinellas Park has experienced some of the highest home appreciation rates of any community in the nation. Pinellas Park real estate appreciated 84.52% over the last ten years, which is an average annual home appreciation rate of 6.32%, putting Pinellas Park in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pinellas Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Pinellas Park that despite a nationwide downturn in the housing market, Pinellas Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pinellas Park appreciation rates continue to be some of the highest in America, at 5.63%, which is higher than appreciation rates in 75.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pinellas Park. Pinellas Park appreciation rates in the latest quarter were at 1.85%, which equates to an annual appreciation rate of 7.62%.

Importantly, this makes Pinellas Park 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 Pinellas Park's latest annual appreciation rate is lower than 60% 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 Pinellas Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pinellas Park - 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 Pinellas Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$205,830

Pinellas Park, FL HOME PRICES

Value Range
> $1,407,000 0.5
$1,055,001 - $1,407,000 1.7
$703,001 - $1,055,000 1.4
$562,001 - $703,000 2.9
$422,001 - $562,000 4.0
$281,001 - $422,000 14.9
$141,001 - $281,000 40.7
$70,001 - $141,000 19.7
$0 - $70,000 14.2

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
39.5970802919708 59.1489361702128

Number Of Homes And Apartments:
21,085

Pinellas Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
138.85% 4.34%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,412 / per month

Homeownership Rate

Homeownership
Owners 64.24
Renters 35.76
Vacant 13.68

Housing Market Details

 

Age of Homes

AGE OF Pinellas Park HOMES
2000 or Newer 12.4
1970 - 1999 60.8
1940 - 1969 26.2
1939 or Older 0.5

Types of Homes

TYPE OF Pinellas Park HOMES
Single-Family 53.8
Townhomes 7.0
Small Apt. Buildings 6.4
Apt. Complexes 18.4
Mobile Homes 13.8
Other 0.6

Home Size

SIZE OF Pinellas Park HOMES
No Bedroom 2.28
1 Bedroom 11.06
2 Bedrooms 49.26
3 Bedrooms 30.10
4 Bedrooms 6.49
5 or more bedrooms 0.80