Sunrise, 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 Q4 2020. 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

Sunrise, FL Housing Market Trends

With 95,166 people, 33,250 houses or apartments, and a median cost of homes of $290,069, Sunrise 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 Sunrise, accounting for 46.52% of the city's housing units. Other types of housing that are prevalent in Sunrise include single-family detached homes ( 36.52%), row houses and other attached homes ( 10.96%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.20%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in Sunrise tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 57.43% of the homes in Sunrise have two or fewer bedrooms.

There is a lot of housing in Sunrise 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 Sunrise built between 2000 and later ( 11.53%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.86%).

Vacant housing appears to be an issue in Sunrise. Fully 13.04% of the housing stock is classified as vacant. Left unchecked, vacant Sunrise homes and apartments can be a drag on the real estate market, holding Sunrise 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.

Sunrise Home Appreciation Rates

In the last 10 years, Sunrise has experienced some of the highest home appreciation rates of any community in the nation. Sunrise real estate appreciated 99.04% over the last ten years, which is an average annual home appreciation rate of 7.13%, putting Sunrise in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sunrise 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, Sunrise's appreciation rate, at 5.75%, has been at or slightly above the national average. In the latest quarter, Sunrise's appreciation rate has been 1.51%, which annualizes to a rate of 6.16%.

Notably, Sunrise's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Sunrise's latest annual appreciation rate is lower than 70% 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 Sunrise differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sunrise - 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 Sunrise real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$290,069

Sunrise, FL HOME PRICES

> $1,241,000
0.3%
0.3%
$931,001 - $1,241,000
0.1%
0.1%
$621,001 - $931,000
0.9%
0.9%
$497,001 - $621,000
3.9%
3.9%
$372,001 - $497,000
19.7%
19.7%
$248,001 - $372,000
32.4%
32.4%
$124,001 - $248,000
22.5%
22.5%
$62,001 - $124,000
13.0%
13.0%
$0 - $62,000
7.3%
7.3%
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:
33,250

Sunrise Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
162.48% 4.70%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,118 / per month

Homeownership Rate

Owners
66.0%
66.0%
Renters
34.0%
34.0%
Vacant
13.0%
13.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
11.5%
11.5%
1970 - 1999
79.2%
79.2%
1940 - 1969
8.9%
8.9%
1939 or Older
0.4%
0.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
36.5%
36.5%
Townhomes
11.0%
11.0%
Small Apt. Buildings
5.2%
5.2%
Apt. Complexes
46.5%
46.5%
Mobile Homes
0.8%
0.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.3%
3.3%
1 Bedroom
12.1%
12.1%
2 Bedrooms
42.0%
42.0%
3 Bedrooms
34.3%
34.3%
4 Bedrooms
7.3%
7.3%
5 or more bedrooms
0.9%
0.9%
0.0% 100.0%
% OF HOMES