Wellington FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Wellington, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Wellington Housing Market Information

With a population of 65,200, 20,559 total housing units (homes and apartments), and a median house value of $410,304, real estate costs in Wellington are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.

Single-family detached homes are the single most common housing type in Wellington, accounting for 71.72% of the village's housing units. Other types of housing that are prevalent in Wellington include large apartment complexes or high rise apartments ( 10.89%), row houses and other attached homes ( 9.44%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.25%).

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 76.84% of Wellington's homes, and 67.52% 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 ( 37.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 0.90%).

Vacant housing appears to be an issue in Wellington. Fully 15.92% 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.

Wellington Home Appreciation Rates

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 69.61% over the last ten years, which is an average annual home appreciation rate of 5.43%, 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.

NeighborhoodScout's data show that during the latest twelve months, Wellington's appreciation rate, at 4.02%, has been at or slightly above the national average. In the latest quarter, Wellington's appreciation rate has been 1.88%, which annualizes to a rate of 7.74%.

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

Relative to Florida, our data show that Wellington's latest annual appreciation rate is lower than 80% 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.

Average Home Values

 

Median Home Value:
$410,304

Wellington, FL HOME PRICES

Value Range
> $1,206,000 3.1
$904,001 - $1,206,000 3.9
$603,001 - $904,000 13.2
$483,001 - $603,000 15.8
$362,001 - $483,000 28.7
$241,001 - $362,000 23.3
$121,001 - $241,000 9.8
$60,001 - $121,000 1.2
$0 - $60,000 0.9

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
11.6379562043796 20.4255319148936

Number Of Homes And Apartments:
20,559

Wellington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
132.29% 4.20%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,493 / per month

Homeownership Rate

Homeownership
Owners 76.84
Renters 23.16
Vacant 15.92

Housing Market Details

 

Age of Homes

AGE OF Wellington HOMES
2000 or Newer 37.6
1970 - 1999 61.4
1940 - 1969 0.9
1939 or Older 0.2

Types of Homes

TYPE OF Wellington HOMES
Single-Family 71.7
Townhomes 9.4
Small Apt. Buildings 7.3
Apt. Complexes 10.9
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Wellington HOMES
No Bedroom 0.47
1 Bedroom 3.23
2 Bedrooms 16.80
3 Bedrooms 39.27
4 Bedrooms 28.26
5 or more bedrooms 11.97