Delray Beach, FL Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Delray Beach, FL Housing Market Trends

With a population of 69,451, 28,582 total housing units (homes and apartments), and a median house value of $332,658, Delray Beach real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Delray Beach, accounting for 37.20% of the city's housing units. Other types of housing that are prevalent in Delray Beach include single-family detached homes ( 33.70%), duplexes, homes converted to apartments or other small apartment buildings ( 15.61%), and a few row houses and other attached homes ( 12.53%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Delray Beach primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Delray Beach has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Delray 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 Delray Beach built between 2000 and later ( 16.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.62%). There's also some housing in Delray Beach built before 1939 ( 2.01%).

Vacant housing appears to be an issue in Delray Beach. Fully 20.77% of the housing stock is classified as vacant. Left unchecked, vacant Delray Beach homes and apartments can be a drag on the real estate market, holding Delray 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.

Delray Beach Home Appreciation Rates

In the last 10 years, Delray Beach has experienced some of the highest home appreciation rates of any community in the nation. Delray Beach real estate appreciated 123.62% over the last ten years, which is an average annual home appreciation rate of 8.38%, putting Delray Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Delray 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, Delray Beach's appreciation rate, at 10.05%, has been at or slightly above the national average. In the latest quarter, Delray Beach's appreciation rate has been 3.43%, which annualizes to a rate of 14.46%.

Relative to Florida, our data show that Delray Beach's latest annual appreciation rate is lower 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 Delray Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Delray 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 Delray Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$332,658

Delray Beach, FL HOME PRICES

> $1,322,000
5.0%
5.0%
$991,001 - $1,322,000
3.8%
3.8%
$661,001 - $991,000
8.4%
8.4%
$529,001 - $661,000
9.8%
9.8%
$396,001 - $529,000
15.3%
15.3%
$264,001 - $396,000
21.4%
21.4%
$132,001 - $264,000
25.6%
25.6%
$66,001 - $132,000
8.9%
8.9%
$0 - $66,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for FL

Value Relative To Nation

Number Of Homes And Apartments:
28,582

Delray Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
190.37% 5.08%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,351 / per month

Homeownership Rate

Owners
60.8%
60.8%
Renters
39.2%
39.2%
Vacant
20.8%
20.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.2%
16.2%
1970 - 1999
67.2%
67.2%
1940 - 1969
14.6%
14.6%
1939 or Older
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
33.7%
33.7%
Townhomes
12.5%
12.5%
Small Apt. Buildings
15.6%
15.6%
Apt. Complexes
37.2%
37.2%
Mobile Homes
0.7%
0.7%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
13.6%
13.6%
2 Bedrooms
48.0%
48.0%
3 Bedrooms
27.2%
27.2%
4 Bedrooms
8.6%
8.6%
5 or more bedrooms
1.6%
1.6%
0.0% 100.0%
% OF HOMES