Sunrise, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Sunrise Neighborhoods Since 2000




Sunrise, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Sunrise Housing Market Information

With a population of 92,700, 31,354 total housing units (homes and apartments), and a median house value of $218,814, 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 44.84% of the city's housing units. Other types of housing that are prevalent in Sunrise include single-family detached homes ( 39.39%), row houses and other attached homes ( 10.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.89%). 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.

Dwellings in Sunrise tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 55.63% of the homes in Sunrise have two or fewer bedrooms.

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 1940-1969 ( 10.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.73%).

Vacant housing appears to be an issue in Sunrise. Fully 15.61% 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.

Sunrise Home Appreciation Rates

Homes have actually lost value in Sunrise over the last then years, as home values have seen a decline of 20.48% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Sunrise home appreciation rates at 1.80%, which equates to an annual appreciation rate of 7.39%.

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 7.94%, which is higher than appreciation rates in 86.41% 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 1.80%, which equates to an annual appreciation rate of 7.39%.

Importantly, this makes Sunrise one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Florida, our data show that Sunrise'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 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.

Average Home Values

 

Median Home Value:
$218,814

Sunrise, FL HOME PRICES

Value Range
> $1,379,000 0.2
$1,035,001 - $1,379,000 0.1
$690,001 - $1,035,000 0.6
$552,001 - $690,000 1.1
$414,001 - $552,000 5.5
$276,001 - $414,000 23.2
$138,001 - $276,000 39.0
$69,001 - $138,000 16.1
$0 - $69,000 14.4

High for FL
High for Nation

Value Relative to Nation Value Relative to State
27.9210125395523 39.5299145299145

Number Of Homes And Apartments:
31,354

Sunrise Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
100.59% 4.12% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,761 / per month

Homeownership Rate

Homeownership
Owners 67.84
Renters 32.16
Vacant 15.61

Housing Market Details

 

Age of Homes

AGE OF Sunrise HOMES
2000 or Newer 8.7
1970 - 1999 80.8
1940 - 1969 10.2
1939 or Older 0.3

Types of Homes

TYPE OF Sunrise HOMES
Single-Family 39.4
Townhomes 10.4
Small Apt. Buildings 4.9
Apt. Complexes 44.8
Mobile Homes 0.4
Other 0.1

Home Size

SIZE OF Sunrise HOMES
No Bedroom 1.27
1 Bedroom 14.41
2 Bedrooms 39.95
3 Bedrooms 34.63
4 Bedrooms 9.07
5 or more bedrooms 0.66