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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Summerland Key, FL Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Summerland Key, FL Housing Market Trends

With 7,331 people, 3,341 houses or apartments, and a median cost of homes of $1,005,419, Summerland Key house prices are not only among the most expensive in Florida, Summerland Key real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Summerland Key, accounting for 83.13% of the town's housing units. Other types of housing that are prevalent in Summerland Key include mobile homes or trailers ( 8.96%), duplexes, homes converted to apartments or other small apartment buildings ( 3.95%), and a few row houses and other attached homes ( 1.68%).

Dwellings in Summerland Key tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.60% of the homes in Summerland Key have two or fewer bedrooms.

There is a lot of housing in Summerland Key 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 Summerland Key built between 2000 and later ( 23.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.31%).

Vacant housing appears to be an issue in Summerland Key. Fully 33.39% of the housing stock is classified as vacant. Left unchecked, vacant Summerland Key homes and apartments can be a drag on the real estate market, holding Summerland Key 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.

Summerland Key Home Appreciation Rates

In the last 10 years, Summerland Key has experienced some of the highest home appreciation rates of any community in the nation. Summerland Key real estate appreciated 155.15% over the last ten years, which is an average annual home appreciation rate of 9.82%, putting Summerland Key in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Summerland Key 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 Summerland Key that despite a nationwide downturn in the housing market, Summerland Key real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Summerland Key appreciation rates continue to be some of the highest in America, at 7.37%, which is higher than appreciation rates in 78.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Summerland Key. Summerland Key appreciation rates in the latest quarter were at 1.15%, which equates to an annual appreciation rate of 4.68%.

Relative to Florida, our data show that Summerland Key's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.

Average Home Values

Median Home Value

$1,005,419

Summerland Key, FL Home Prices
> $1,457,000
$1,093,001 - $1,457,000
$729,001 - $1,093,000
$583,001 - $729,000
$437,001 - $583,000
$291,001 - $437,000
$146,001 - $291,000
$73,001 - $146,000
$0 - $73,000
23.8%
23.8%
19.4%
19.4%
33.1%
33.1%
8.6%
8.6%
4.5%
4.5%
7.3%
7.3%
1.6%
1.6%
0.6%
0.6%
1.1%
1.1%
0% 100.0%
% of Homes
Very High

for Florida

Very High

for nation

Number of Homes And Apartments:

3,341

Summerland Key Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,785 / per month

Homeownership Rate

Owners
Renters
79.7%
79.7%
20.3%
20.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
33.4%
33.4%
66.6%
66.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
23.8%
23.8%
65.7%
65.7%
10.3%
10.3%
0.2%
0.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
83.1%
83.1%
1.7%
1.7%
4.0%
4.0%
1.0%
1.0%
9.0%
9.0%
1.3%
1.3%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.0%
1.0%
9.3%
9.3%
42.3%
42.3%
39.0%
39.0%
7.6%
7.6%
0.8%
0.8%
0% 100.0%
% of Homes

Popular Neighborhoods in Summerland Key

Popular Communities Near Summerland Key, FL

Zip Codes in Summerland Key, FL