Riviera Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Riviera 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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Riviera Beach Housing Market Information

With a population of 34,244, 11,475 total housing units (homes and apartments), and a median house value of $170,016, Riviera Beach real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Riviera Beach, accounting for 44.61% of the city's housing units. Other types of housing that are prevalent in Riviera Beach include large apartment complexes or high rise apartments ( 35.17%), duplexes, homes converted to apartments or other small apartment buildings ( 11.39%), and a few row houses and other attached homes ( 6.27%).

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

There is a lot of housing in Riviera 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 Riviera Beach built between 1940-1969 ( 30.13%). A lesser amount of the housing stock also hails from between 2000 and later ( 26.67%).

Vacant housing appears to be an issue in Riviera Beach. Fully 30.56% of the housing stock is classified as vacant. Left unchecked, vacant Riviera Beach homes and apartments can be a drag on the real estate market, holding Riviera 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.

Riviera Beach Home Appreciation Rates

Riviera Beach's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Riviera Beach during the period has been just -1.31%, which is lower than 80% of US communities.

Appreciation rates are so strong in Riviera Beach that despite a nationwide downturn in the housing market, Riviera Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Riviera Beach appreciation rates continue to be some of the highest in America, at 13.65%, which is higher than appreciation rates in 98.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Riviera Beach. Riviera Beach appreciation rates in the latest quarter were at 2.46%, which equates to an annual appreciation rate of 10.22%.

Importantly, this makes Riviera Beach 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 Riviera Beach's latest annual appreciation rate is higher than 80% 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 Riviera Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Riviera 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 Riviera Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$170,016

Riviera Beach, FL HOME PRICES

Value Range
> $1,429,091 2.7
$1,071,819 - $1,429,091 0.9
$714,546 - $1,071,818 3.4
$571,662 - $714,545 4.4
$428,403 - $571,661 4.4
$286,144 - $428,402 12.3
$142,886 - $286,143 25.2
$71,130 - $142,885 32.0
$0 - $71,129 14.8

Low for FL
Average for Nation

Value Relative to Nation Value Relative to State
45.0394160583942 62.3404255319149

Number Of Homes And Apartments:
11,475

Riviera Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
91.15% 3.61%
6
9
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,464 / per month

Homeownership Rate

Homeownership
Owners 54.52
Renters 45.48
Vacant 30.56

Housing Market Details

 

Age of Homes

AGE OF Riviera Beach HOMES
2000 or Newer 26.7
1970 - 1999 42.3
1940 - 1969 30.1
1939 or Older 0.9

Types of Homes

TYPE OF Riviera Beach HOMES
Single-Family 44.6
Townhomes 6.3
Small Apt. Buildings 11.4
Apt. Complexes 35.2
Mobile Homes 2.4
Other 0.2

Home Size

SIZE OF Riviera Beach HOMES
No Bedroom 2.62
1 Bedroom 8.39
2 Bedrooms 40.87
3 Bedrooms 39.96
4 Bedrooms 6.82
5 or more bedrooms 1.34