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 a population of 94,323, 31,261 total housing units (homes and apartments), and a median house value of $250,985, Sunrise real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Sunrise, accounting for 46.12% of the city's housing units. Other types of housing that are prevalent in Sunrise include single-family detached homes ( 37.54%), row houses and other attached homes ( 11.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.66%). 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 Sunrise primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Sunrise has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Sunrise 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 Sunrise built between 2000 and later ( 10.36%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.80%).
Vacant housing appears to be an issue in Sunrise. Fully 15.47% of the housing stock is classified as vacant. Left unchecked, vacant Sunrise homes and apartments can be a drag on the real estate market, holding Sunrise 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.
In the last 10 years, Sunrise has experienced some of the highest home appreciation rates of any community in the nation. Sunrise real estate appreciated 49.63% over the last ten years, which is an average annual home appreciation rate of 4.11%, putting Sunrise in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sunrise 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 Sunrise that despite a nationwide downturn in the housing market, Sunrise real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sunrise appreciation rates continue to be some of the highest in America, at 7.93%, which is higher than appreciation rates in 81.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sunrise. Sunrise 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 Sunrise'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 Sunrise differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sunrise - 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 Sunrise real estate investment or home purchase decisions.
|$999,001 - $1,333,000||0.1|
|$666,001 - $999,000||0.5|
|$533,001 - $666,000||1.4|
|$400,001 - $533,000||10.4|
|$266,001 - $400,000||27.3|
|$133,001 - $266,000||28.2|
|$67,001 - $133,000||16.2|
|$0 - $67,000||15.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2019 Q1
|* 10 is highest|
|AGE OF Sunrise HOMES|
|2000 or Newer||10.4|
|1970 - 1999||80.6|
|1940 - 1969||8.8|
|1939 or Older||0.2|
|TYPE OF Sunrise HOMES|
|Small Apt. Buildings||4.7|
|SIZE OF Sunrise HOMES|
|5 or more bedrooms||0.82|