Sunny Isles Beach, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Sunny Isles Beach, FL Housing Market Trends

With 21,804 people, 10,487 houses or apartments, and a median cost of homes of $749,538, Sunny Isles Beach house prices are not only among the most expensive in Florida, Sunny Isles Beach real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Sunny Isles Beach, accounting for 94.38% of the city's housing units. Other types of housing that are prevalent in Sunny Isles Beach include single-family detached homes ( 4.26%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Sunny Isles Beach primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Sunny Isles Beach has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Sunny Isles 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 Sunny Isles Beach built between 2000 and later ( 28.00%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.71%).

A decent proportion of the Sunny Isles Beach housing stock is seasonally occupied. That is, homes and condos in Sunny Isles Beach are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Sunny Isles Beach housing market speaks to its popularity as a vacation location of choice.

Sunny Isles Beach Home Appreciation Rates

In the last 10 years, Sunny Isles Beach has experienced some of the highest home appreciation rates of any community in the nation. Sunny Isles Beach real estate appreciated 122.62% over the last ten years, which is an average annual home appreciation rate of 8.33%, putting Sunny Isles Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sunny Isles 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, Sunny Isles Beach's appreciation rate, at 10.16%, has been at or slightly above the national average. In the latest quarter, Sunny Isles Beach's appreciation rate has been 3.43%, which annualizes to a rate of 14.42%.

Relative to Florida, our data show that Sunny Isles Beach's latest annual appreciation rate is lower than 50% 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 Sunny Isles Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sunny Isles 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 Sunny Isles Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$749,538

Sunny Isles Beach, FL HOME PRICES

> $1,223,000
16.4%
16.4%
$917,001 - $1,223,000
8.2%
8.2%
$611,001 - $917,000
9.6%
9.6%
$489,001 - $611,000
7.8%
7.8%
$367,001 - $489,000
15.1%
15.1%
$244,001 - $367,000
24.7%
24.7%
$122,001 - $244,000
15.7%
15.7%
$61,001 - $122,000
1.3%
1.3%
$0 - $61,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for FL

Value Relative To Nation

Number Of Homes And Apartments:
10,487

Sunny Isles Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
153.23% 4.42%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,427 / per month

Homeownership Rate

Owners
49.0%
49.0%
Renters
51.0%
51.0%
Vacant
52.4%
52.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
28.0%
28.0%
1970 - 1999
56.9%
56.9%
1940 - 1969
14.7%
14.7%
1939 or Older
0.4%
0.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
4.3%
4.3%
Townhomes
0.6%
0.6%
Small Apt. Buildings
0.6%
0.6%
Apt. Complexes
94.4%
94.4%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.7%
6.7%
1 Bedroom
26.8%
26.8%
2 Bedrooms
49.3%
49.3%
3 Bedrooms
14.4%
14.4%
4 Bedrooms
2.2%
2.2%
5 or more bedrooms
0.7%
0.7%
0.0% 100.0%
% OF HOMES