Tarpon Springs, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tarpon Springs, 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

Tarpon Springs Housing Market Information

With 24,605 people, 9,809 houses or apartments, and a median cost of homes of $205,996, Tarpon Springs real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Tarpon Springs, accounting for 57.23% of the city's housing units. Other types of housing that are prevalent in Tarpon Springs include large apartment complexes or high rise apartments ( 17.56%), mobile homes or trailers ( 11.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.64%).

Dwellings in Tarpon Springs tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.71% of the homes in Tarpon Springs have two or fewer bedrooms.

There is a lot of housing in Tarpon Springs 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 Tarpon Springs built between 2000 and later ( 15.06%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.53%). There's also some housing in Tarpon Springs built before 1939 ( 3.71%).

Vacant housing appears to be an issue in Tarpon Springs. Fully 21.69% of the housing stock is classified as vacant. Left unchecked, vacant Tarpon Springs homes and apartments can be a drag on the real estate market, holding Tarpon Springs 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.

Tarpon Springs Home Appreciation Rates

Tarpon Springs's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Tarpon Springs during the period has been just -1.34%, which is lower than 80% of US communities.

Appreciation rates are so strong in Tarpon Springs that despite a nationwide downturn in the housing market, Tarpon Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tarpon Springs appreciation rates continue to be some of the highest in America, at 7.63%, which is higher than appreciation rates in 84.91% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tarpon Springs. Tarpon Springs appreciation rates in the latest quarter were at 1.28%, which equates to an annual appreciation rate of 5.24%.

Relative to Florida, our data show that Tarpon Springs'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 Tarpon Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tarpon Springs - 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 Tarpon Springs real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$205,996

Tarpon Springs, FL HOME PRICES

Value Range
> $1,342,000 1.6
$1,007,001 - $1,342,000 0.6
$671,001 - $1,007,000 2.6
$537,001 - $671,000 2.3
$403,001 - $537,000 6.4
$268,001 - $403,000 18.6
$135,001 - $268,000 37.3
$67,001 - $135,000 19.2
$0 - $67,000 11.4

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
30.8039376538146 43.3760683760684

Number Of Homes And Apartments:
9,809

Tarpon Springs 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
78.26% 3.41% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,269 / per month

Homeownership Rate

Homeownership
Owners 69.48
Renters 30.52
Vacant 21.69

Housing Market Details

 

Age of Homes

AGE OF Tarpon Springs HOMES
2000 or Newer 15.1
1970 - 1999 69.7
1940 - 1969 11.5
1939 or Older 3.7

Types of Homes

TYPE OF Tarpon Springs HOMES
Single-Family 57.2
Townhomes 5.9
Small Apt. Buildings 7.6
Apt. Complexes 17.6
Mobile Homes 11.6
Other 0.1

Home Size

SIZE OF Tarpon Springs HOMES
No Bedroom 1.15
1 Bedroom 11.28
2 Bedrooms 38.28
3 Bedrooms 37.32
4 Bedrooms 10.07
5 or more bedrooms 1.90