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 32,119 people, 14,979 houses or apartments, and a median cost of homes of $520,272, New Smyrna Beach real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in New Smyrna Beach, accounting for 51.43% of the city's housing units. Other types of housing that are prevalent in New Smyrna Beach include large apartment complexes or high rise apartments ( 31.53%), duplexes, homes converted to apartments or other small apartment buildings ( 7.02%), and a few row houses and other attached homes ( 6.78%).
Dwellings in New Smyrna Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.97% of the homes in New Smyrna Beach have two or fewer bedrooms.
There is a lot of housing in New Smyrna Beach 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 New Smyrna Beach built between 2000 and later ( 33.36%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.09%). There's also some housing in New Smyrna Beach built before 1939 ( 2.88%).
Vacant housing appears to be an issue in New Smyrna Beach. Fully 29.33% of the housing stock is classified as vacant. Left unchecked, vacant New Smyrna Beach homes and apartments can be a drag on the real estate market, holding New Smyrna Beach 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, New Smyrna Beach has experienced some of the highest home appreciation rates of any community in the nation. New Smyrna Beach real estate appreciated 172.92% over the last ten years, which is an average annual home appreciation rate of 10.56%, putting New Smyrna Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, New Smyrna Beach 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, New Smyrna Beach's appreciation rate, at 6.14%, has been at or slightly above the national average. In the latest quarter, New Smyrna Beach's appreciation rate has been 0.54%, which annualizes to a rate of 2.16%.
Notably, New Smyrna Beach's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that New Smyrna Beach's latest annual appreciation rate is higher 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 New Smyrna Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Smyrna Beach - 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 New Smyrna Beach real estate investment or home purchase decisions.
$520,272
for Florida
for nation
14,979
$2,295 / per month