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 about Scout's Real Estate Data
With a population of 61,448, 20,805 total housing units (homes and apartments), and a median house value of $729,854, Wellington house prices are not only among the most expensive in Florida, Wellington real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Wellington, accounting for 72.08% of the village's housing units. Other types of housing that are prevalent in Wellington include row houses and other attached homes ( 11.90%), large apartment complexes or high rise apartments ( 10.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.98%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wellington. Owner-occupied housing accounts for 75.92% of Wellington's homes, and 66.62% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Wellington 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 Wellington built between 2000 and later ( 36.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 0.75%).
Vacant housing appears to be an issue in Wellington. Fully 12.54% of the housing stock is classified as vacant. Left unchecked, vacant Wellington homes and apartments can be a drag on the real estate market, holding Wellington 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, Wellington has experienced some of the highest home appreciation rates of any community in the nation. Wellington real estate appreciated 148.54% over the last ten years, which is an average annual home appreciation rate of 9.53%, putting Wellington in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wellington 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 Wellington that despite a nationwide downturn in the housing market, Wellington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wellington appreciation rates continue to be some of the highest in America, at 9.87%, which is higher than appreciation rates in 94.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wellington. Wellington appreciation rates in the latest quarter were at 2.86%, which equates to an annual appreciation rate of 11.92%.
Relative to Florida, our data show that Wellington's latest annual appreciation rate is higher than 90% 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 village. Individual neighborhoods within Wellington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wellington - 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 Wellington real estate investment or home purchase decisions.
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