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 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

Riviera Beach Housing Market Information

With 34,834 people, 11,452 houses or apartments, and a median cost of homes of $210,941, Riviera 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 Riviera Beach, accounting for 45.29% of the city's housing units. Other types of housing that are prevalent in Riviera Beach include large apartment complexes or high rise apartments ( 34.19%), duplexes, homes converted to apartments or other small apartment buildings ( 10.69%), and a few row houses and other attached homes ( 7.77%).

The most prevalent building size and type in Riviera Beach are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.36% owning and 46.64% renting.

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 ( 28.96%). A lesser amount of the housing stock also hails from between 2000 and later ( 27.63%). There's also some housing in Riviera Beach built before 1939 ( 1.06%).

Vacant housing appears to be an issue in Riviera Beach. Fully 28.94% 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

In the last 10 years, Riviera Beach has experienced some of the highest home appreciation rates of any community in the nation. Riviera Beach real estate appreciated 55.70% over the last ten years, which is an average annual home appreciation rate of 4.53%, putting Riviera Beach in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Riviera Beach 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, Riviera Beach's appreciation rate, at 4.08%, has been at or slightly above the national average. In the latest quarter, Riviera Beach's appreciation rate has been 1.88%, which annualizes to a rate of 7.74%.

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 lower 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:
$210,941

Riviera Beach, FL HOME PRICES

Value Range
> $1,261,000 3.5
$945,001 - $1,261,000 1.4
$630,001 - $945,000 3.9
$504,001 - $630,000 2.8
$378,001 - $504,000 4.2
$252,001 - $378,000 16.4
$126,001 - $252,000 27.0
$63,001 - $126,000 27.4
$0 - $63,000 13.4

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
37.9328467153285 57.0212765957447

Number Of Homes And Apartments:
11,452

Riviera Beach 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
117.22% 3.86%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,643 / per month

Homeownership Rate

Homeownership
Owners 53.36
Renters 46.64
Vacant 28.94

Housing Market Details

 

Age of Homes

AGE OF Riviera Beach HOMES
2000 or Newer 27.6
1970 - 1999 42.3
1940 - 1969 29.0
1939 or Older 1.1

Types of Homes

TYPE OF Riviera Beach HOMES
Single-Family 45.3
Townhomes 7.8
Small Apt. Buildings 10.7
Apt. Complexes 34.2
Mobile Homes 1.9
Other 0.1

Home Size

SIZE OF Riviera Beach HOMES
No Bedroom 2.49
1 Bedroom 8.56
2 Bedrooms 37.64
3 Bedrooms 43.14
4 Bedrooms 6.91
5 or more bedrooms 1.27