Wesley Chapel, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Wesley Chapel, 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

Wesley Chapel Housing Market Information

With 46,001 people, 16,444 houses or apartments, and a median cost of homes of $224,758, Wesley Chapel real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Wesley Chapel, accounting for 67.31% of the town's housing units. Other types of housing that are prevalent in Wesley Chapel include large apartment complexes or high rise apartments ( 13.20%), row houses and other attached homes ( 9.74%), and a few mobile homes or trailers ( 7.83%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wesley Chapel. Owner-occupied housing accounts for 72.05% of Wesley Chapel's homes, and 69.73% have either three or four bedrooms, which is average sized relative to America.

Wesley Chapel homes and real estate are some of the newest in America. 57.96% of Wesley Chapel's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Wesley Chapel real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 38.71%), and between 1940-1969 ( 3.32%).

Vacant housing appears to be an issue in Wesley Chapel. Fully 12.40% of the housing stock is classified as vacant. Left unchecked, vacant Wesley Chapel homes and apartments can be a drag on the real estate market, holding Wesley Chapel 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.

Wesley Chapel Home Appreciation Rates

Wesley Chapel's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wesley Chapel during the period has been just -1.98%, which is lower than 80% of US communities.

Appreciation rates are so strong in Wesley Chapel that despite a nationwide downturn in the housing market, Wesley Chapel real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wesley Chapel appreciation rates continue to be some of the highest in America, at 7.19%, which is higher than appreciation rates in 82.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wesley Chapel. Wesley Chapel 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 Wesley Chapel's latest annual appreciation rate is lower 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 town. Individual neighborhoods within Wesley Chapel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wesley Chapel - 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 Wesley Chapel real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$224,758

Wesley Chapel, FL HOME PRICES

Value Range
> $1,325,000 0.3
$994,001 - $1,325,000 0.7
$662,001 - $994,000 2.1
$530,001 - $662,000 2.4
$397,001 - $530,000 9.7
$265,001 - $397,000 22.1
$133,001 - $265,000 48.1
$66,001 - $133,000 11.4
$0 - $66,000 3.2

High for FL
High for Nation

Value Relative to Nation Value Relative to State
26.8545646314309 38.2478632478632

Number Of Homes And Apartments:
16,444

Wesley Chapel 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
53.87% 2.53% 3 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,603 / per month

Homeownership Rate

Homeownership
Owners 72.05
Renters 27.95
Vacant 12.40

Housing Market Details

 

Age of Homes

AGE OF Wesley Chapel HOMES
2000 or Newer 58.0
1970 - 1999 38.7
1940 - 1969 3.3
1939 or Older 0.0

Types of Homes

TYPE OF Wesley Chapel HOMES
Single-Family 67.3
Townhomes 9.7
Small Apt. Buildings 1.9
Apt. Complexes 13.2
Mobile Homes 7.8
Other 0.0

Home Size

SIZE OF Wesley Chapel HOMES
No Bedroom 0.67
1 Bedroom 3.03
2 Bedrooms 19.97
3 Bedrooms 40.96
4 Bedrooms 28.77
5 or more bedrooms 6.61