Sunny Isles Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Sunny Isles Beach, 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 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

Sunny Isles Beach Housing Market Information

With 22,348 people, 10,413 houses or apartments, and a median cost of homes of $579,011, 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 94.52% of the city's housing units. Other types of housing that are prevalent in Sunny Isles Beach include single-family detached homes ( 3.87%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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 ( 26.37%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.98%).

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 65.81% over the last ten years, which is an average annual home appreciation rate of 5.19%, 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.

Appreciation rates are so strong in Sunny Isles Beach that despite a nationwide downturn in the housing market, Sunny Isles Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sunny Isles Beach appreciation rates continue to be some of the highest in America, at 7.78%, which is higher than appreciation rates in 80.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sunny Isles Beach. Sunny Isles Beach appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.89%.

Relative to Florida, our data show that Sunny Isles Beach's latest annual appreciation rate is higher 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:
$579,011

Sunny Isles Beach, FL HOME PRICES

Value Range
> $1,277,000 13.5
$958,001 - $1,277,000 8.3
$639,001 - $958,000 11.2
$511,001 - $639,000 5.2
$383,001 - $511,000 15.6
$255,001 - $383,000 22.0
$128,001 - $255,000 19.3
$64,001 - $128,000 1.7
$0 - $64,000 3.3

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
5.06861313868613 8.51063829787234

Number Of Homes And Apartments:
10,413

Sunny Isles Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
124.71% 4.30%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,427 / per month

Homeownership Rate

Homeownership
Owners 50.81
Renters 49.19
Vacant 53.08

Housing Market Details

 

Age of Homes

AGE OF Sunny Isles Beach HOMES
2000 or Newer 26.4
1970 - 1999 60.3
1940 - 1969 13.0
1939 or Older 0.3

Types of Homes

TYPE OF Sunny Isles Beach HOMES
Single-Family 3.9
Townhomes 0.8
Small Apt. Buildings 0.6
Apt. Complexes 94.5
Mobile Homes 0.1
Other 0.1

Home Size

SIZE OF Sunny Isles Beach HOMES
No Bedroom 6.40
1 Bedroom 26.29
2 Bedrooms 51.39
3 Bedrooms 13.26
4 Bedrooms 2.17
5 or more bedrooms 0.48