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 6,535 people, 2,394 houses or apartments, and a median cost of homes of $194,498, house prices in DeFuniak Springs are solidly below the national average.
Single-family detached homes are the single most common housing type in DeFuniak Springs, accounting for 80.19% of the city's housing units. Other types of housing that are prevalent in DeFuniak Springs include duplexes, homes converted to apartments or other small apartment buildings ( 9.87%), large apartment complexes or high rise apartments ( 8.59%), and a few mobile homes or trailers ( 1.02%).
The most prevalent building size and type in DeFuniak Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.90% owning and 38.10% renting.
There is a lot of housing in DeFuniak Springs 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 DeFuniak Springs built between 1940-1969 ( 26.11%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.89%). There's also some housing in DeFuniak Springs built before 1939 ( 9.32%).
Vacant housing appears to be an issue in DeFuniak Springs. Fully 12.82% of the housing stock is classified as vacant. Left unchecked, vacant DeFuniak Springs homes and apartments can be a drag on the real estate market, holding DeFuniak Springs 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, DeFuniak Springs has experienced some of the highest home appreciation rates of any community in the nation. DeFuniak Springs real estate appreciated 133.44% over the last ten years, which is an average annual home appreciation rate of 8.85%, putting DeFuniak Springs in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, DeFuniak Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, DeFuniak Springs appreciation rates have trailed the rest of the nation. In the last twelve months, DeFuniak Springs's appreciation rate has been -0.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in DeFuniak Springs were at 3.82%, which equates to an annual appreciation rate of 16.18%.
Importantly, this makes DeFuniak Springs 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 DeFuniak Springs's latest annual appreciation rate is lower 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 city. Individual neighborhoods within DeFuniak Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in DeFuniak Springs - 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 DeFuniak Springs real estate investment or home purchase decisions.
$194,498
for Florida
for nation
2,394
$1,391 / per month