Riviera 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 Q1 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

Riviera Beach, FL Housing Market Trends

With a population of 35,463, 11,336 total housing units (homes and apartments), and a median house value of $223,750, Riviera 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 Riviera Beach, accounting for 45.83% of the city's housing units. Other types of housing that are prevalent in Riviera Beach include large apartment complexes or high rise apartments ( 34.16%), duplexes, homes converted to apartments or other small apartment buildings ( 10.04%), and a few row houses and other attached homes ( 7.87%).

The most prevalent building size and type in Riviera Beach are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.61% owning and 47.39% renting.

There is a lot of housing in Riviera 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 Riviera Beach built between 1940-1969 ( 29.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 26.48%). There's also some housing in Riviera Beach built before 1939 ( 1.12%).

Vacant housing appears to be an issue in Riviera Beach. Fully 27.72% of the housing stock is classified as vacant. Left unchecked, vacant Riviera Beach homes and apartments can be a drag on the real estate market, holding Riviera 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.

Riviera Beach Home Appreciation Rates

In the last 10 years, Riviera Beach has experienced some of the highest home appreciation rates of any community in the nation. Riviera Beach real estate appreciated 107.45% over the last ten years, which is an average annual home appreciation rate of 7.57%, putting Riviera Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Riviera Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Riviera Beach that despite a nationwide downturn in the housing market, Riviera Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Riviera Beach appreciation rates continue to be some of the highest in America, at 11.01%, which is higher than appreciation rates in 94.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Riviera Beach. Riviera Beach appreciation rates in the latest quarter were at 2.41%, which equates to an annual appreciation rate of 9.98%.

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

Average Home Values

 

Median Home Value:
$223,750

Riviera Beach, FL HOME PRICES

> $1,347,000
3.8%
3.8%
$1,010,001 - $1,347,000
2.0%
2.0%
$673,001 - $1,010,000
4.2%
4.2%
$539,001 - $673,000
2.4%
2.4%
$404,001 - $539,000
5.3%
5.3%
$269,001 - $404,000
17.3%
17.3%
$135,001 - $269,000
27.0%
27.0%
$67,001 - $135,000
24.9%
24.9%
$0 - $67,000
13.3%
13.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for FL

Value Relative To Nation

Number Of Homes And Apartments:
11,336

Riviera Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
142.28% 4.25%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,599 / per month

Homeownership Rate

Owners
52.6%
52.6%
Renters
47.4%
47.4%
Vacant
27.7%
27.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
26.5%
26.5%
1970 - 1999
43.2%
43.2%
1940 - 1969
29.2%
29.2%
1939 or Older
1.1%
1.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
45.8%
45.8%
Townhomes
7.9%
7.9%
Small Apt. Buildings
10.0%
10.0%
Apt. Complexes
34.2%
34.2%
Mobile Homes
1.9%
1.9%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.2%
2.2%
1 Bedroom
7.8%
7.8%
2 Bedrooms
36.7%
36.7%
3 Bedrooms
44.4%
44.4%
4 Bedrooms
6.9%
6.9%
5 or more bedrooms
1.9%
1.9%
0.0% 100.0%
% OF HOMES