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CRESTVIEW HOUSING MARKET INFORMATION
With a population of 23,856, 8,141 total housing units (homes and apartments), and a median house value of $197,774, Crestview real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Crestview, accounting for 76.71% of the city’s housing units. Other types of housing that are prevalent in Crestview include large apartment complexes or high rise apartments ( 14.19%), duplexes, homes converted to apartments or other small apartment buildings ( 5.49%), and a few row houses and other attached homes ( 3.15%).
The most prevalent building size and type in Crestview are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.82% owning and 46.18% renting.
Crestview homes and real estate are some of the newest in America. 45.87% of Crestview’s housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Crestview real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 37.33%), and between 1940-1969 ( 16.18%).
Vacant housing appears to be an issue in Crestview. Fully 12.87% of the housing stock is classified as vacant. Left unchecked, vacant Crestview homes and apartments can be a drag on the real estate market, holding Crestview 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.
CRESTVIEW HOME APPRECIATION RATES
Crestview’s appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Crestview during the period has been just -0.17%, which is lower than 80% of US communities.
NeighborhoodScout’s data show that during the latest twelve months, Crestview’s appreciation rate, at 5.78%, has been at or slightly above the national average. In the latest quarter, Crestview’s appreciation rate has been 2.19%, which annualizes to a rate of 9.06%.
Relative to Florida, our data show that Crestview’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 Crestview differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Crestview – 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 Crestview real estate investment or home purchase decisions.