Silver Springs, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Silver Springs, 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

Silver Springs Housing Market Information

With 9,972 people, 1,984 houses or apartments, and a median cost of homes of $67,662, house prices in Silver Springs are some of the most affordable in Florida as well as the nation.

Mobile homes or trailers are the single most common housing type in Silver Springs, accounting for 68.00% of the town's housing units. Other types of housing that are prevalent in Silver Springs include single-family detached homes ( 30.33%).

Dwellings in Silver Springs tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 49.84% of the homes in Silver Springs have two or fewer bedrooms.

There is a lot of housing in Silver Springs 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 Silver Springs built between 1940-1969 ( 13.60%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.72%). There's also some housing in Silver Springs built before 1939 ( 1.50%).

Vacant housing appears to be an issue in Silver Springs. Fully 27.63% of the housing stock is classified as vacant. Left unchecked, vacant Silver Springs homes and apartments can be a drag on the real estate market, holding Silver Springs 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.

Silver Springs Home Appreciation Rates

Homes have actually lost value in Silver Springs over the last then years, as home values have seen a decline of 33.36% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Silver Springs home appreciation rates at -0.58%, which equates to an annual appreciation rate of -2.28%.

Over the last year, Silver Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Silver Springs's appreciation rate has been 2.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Silver Springs were at -0.58%, which equates to an annual appreciation rate of -2.28%.

Notably, Silver Springs's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Silver Springs's latest annual appreciation rate is lower than 80% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$67,662

Silver Springs, FL HOME PRICES

Value Range
> $1,123,000 0.0
$842,001 - $1,123,000 0.4
$561,001 - $842,000 0.0
$449,001 - $561,000 0.0
$337,001 - $449,000 1.7
$225,001 - $337,000 3.1
$112,001 - $225,000 19.6
$56,001 - $112,000 32.0
$0 - $56,000 43.2

Very Low for FL
Very Low for Nation

Value Relative to Nation Value Relative to State
96.1209422243056 100.0

Number Of Homes And Apartments:
1,984

Silver Springs 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
24.00% 1.25% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$846 / per month

Homeownership Rate

Homeownership
Owners 76.58
Renters 23.42
Vacant 27.63

Housing Market Details

 

Age of Homes

AGE OF Silver Springs HOMES
2000 or Newer 11.7
1970 - 1999 73.2
1940 - 1969 13.6
1939 or Older 1.5

Types of Homes

TYPE OF Silver Springs HOMES
Single-Family 30.3
Townhomes 0.0
Small Apt. Buildings 0.4
Apt. Complexes 0.1
Mobile Homes 68.0
Other 1.1

Home Size

SIZE OF Silver Springs HOMES
No Bedroom 1.12
1 Bedroom 7.45
2 Bedrooms 41.27
3 Bedrooms 44.15
4 Bedrooms 5.50
5 or more bedrooms 0.52

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Zip Codes in Silver Springs, FL