Summerland Key FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Summerland Key, 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Summerland Key Housing Market Information

With a population of 6,579, 1,079 total housing units (homes and apartments), and a median house value of $604,004, 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 78.78% of the town's housing units. Other types of housing that are prevalent in Summerland Key include mobile homes or trailers ( 16.43%), duplexes, homes converted to apartments or other small apartment buildings ( 3.22%).

Dwellings in Summerland Key tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.36% 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 ( 16.79%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.21%). There's also some housing in Summerland Key built before 1939 ( 1.13%).

Vacant housing appears to be an issue in Summerland Key. Fully 39.23% 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 54.79% over the last ten years, which is an average annual home appreciation rate of 4.47%, 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 6.47%, which is higher than appreciation rates in 86.44% 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 0.19%, which equates to an annual appreciation rate of 0.78%.

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

Relative to Florida, our data show that Summerland Key's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$604,004

Summerland Key, FL HOME PRICES

Value Range
> $1,341,000 7.6
$1,005,001 - $1,341,000 9.2
$670,001 - $1,005,000 25.0
$536,001 - $670,000 18.9
$402,001 - $536,000 20.6
$268,001 - $402,000 10.0
$134,001 - $268,000 4.5
$67,001 - $134,000 2.4
$0 - $67,000 1.8

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
4.78248175182482 7.87234042553191

Number Of Homes And Apartments:
1,079

Summerland Key Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
124.06% 4.17%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,494 / per month

Homeownership Rate

Homeownership
Owners 74.19
Renters 25.81
Vacant 39.23

Housing Market Details

 

Age of Homes

AGE OF Summerland Key HOMES
2000 or Newer 16.8
1970 - 1999 70.9
1940 - 1969 11.2
1939 or Older 1.1

Types of Homes

TYPE OF Summerland Key HOMES
Single-Family 78.8
Townhomes 0.8
Small Apt. Buildings 3.2
Apt. Complexes 0.5
Mobile Homes 16.4
Other 0.2

Home Size

SIZE OF Summerland Key HOMES
No Bedroom 2.87
1 Bedroom 8.90
2 Bedrooms 44.59
3 Bedrooms 36.89
4 Bedrooms 5.16
5 or more bedrooms 1.59

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Zip Codes in Summerland Key, FL