Tavares, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Tavares Neighborhoods Since 2000




Tavares, 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

Tavares Housing Market Information

With a population of 15,430, 6,232 total housing units (homes and apartments), and a median house value of $123,375, house prices in Tavares are solidly below the national average.

Single-family detached homes are the single most common housing type in Tavares, accounting for 48.23% of the city's housing units. Other types of housing that are prevalent in Tavares include mobile homes or trailers ( 31.96%), large apartment complexes or high rise apartments ( 7.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.04%).

Dwellings in Tavares tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 61.08% of the homes in Tavares have two or fewer bedrooms.

There is a lot of housing in Tavares 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 Tavares built between 2000 and later ( 30.08%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.51%). There's also some housing in Tavares built before 1939 ( 1.77%).

Vacant housing appears to be an issue in Tavares. Fully 22.11% of the housing stock is classified as vacant. Left unchecked, vacant Tavares homes and apartments can be a drag on the real estate market, holding Tavares 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.

Tavares Home Appreciation Rates

Homes have actually lost value in Tavares over the last then years, as home values have seen a decline of 30.74% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Tavares home appreciation rates at 2.68%, which equates to an annual appreciation rate of 11.16%.

Appreciation rates are so strong in Tavares that despite a nationwide downturn in the housing market, Tavares real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tavares appreciation rates continue to be some of the highest in America, at 10.20%, which is higher than appreciation rates in 94.35% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tavares. Tavares appreciation rates in the latest quarter were at 2.68%, which equates to an annual appreciation rate of 11.16%.

Importantly, this makes Tavares 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 Tavares's latest annual appreciation rate is higher than 60% 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 Tavares differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tavares - 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 Tavares real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$123,375

Tavares, FL HOME PRICES

Value Range
> $1,255,000 0.3
$941,001 - $1,255,000 0.4
$628,001 - $941,000 0.6
$502,001 - $628,000 1.1
$377,001 - $502,000 2.7
$251,001 - $377,000 7.9
$126,001 - $251,000 32.7
$63,001 - $126,000 26.5
$0 - $63,000 27.8

Low for FL
Low for Nation

Value Relative to Nation Value Relative to State
63.5708426110395 77.7777777777778

Number Of Homes And Apartments:
6,232

Tavares 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
43.76% 2.13% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,150 / per month

Homeownership Rate

Homeownership
Owners 71.68
Renters 28.32
Vacant 22.11

Housing Market Details

 

Age of Homes

AGE OF Tavares HOMES
2000 or Newer 30.1
1970 - 1999 51.6
1940 - 1969 16.5
1939 or Older 1.8

Types of Homes

TYPE OF Tavares HOMES
Single-Family 48.2
Townhomes 4.5
Small Apt. Buildings 7.0
Apt. Complexes 8.0
Mobile Homes 32.0
Other 0.3

Home Size

SIZE OF Tavares HOMES
No Bedroom 2.27
1 Bedroom 10.04
2 Bedrooms 48.77
3 Bedrooms 33.82
4 Bedrooms 4.75
5 or more bedrooms 0.35