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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Silver Springs HOMES|
|2000 or Newer||11.7|
|1970 - 1999||73.2|
|1940 - 1969||13.6|
|1939 or Older||1.5|
|TYPE OF Silver Springs HOMES|
|Small Apt. Buildings||0.4|
|SIZE OF Silver Springs HOMES|
|5 or more bedrooms||0.52|