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 a population of 4,521, 1,897 total housing units (homes and apartments), and a median house value of $560,826, real estate costs in Big Pine Key are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.
Single-family detached homes are the single most common housing type in Big Pine Key, accounting for 77.63% of the town's housing units. Other types of housing that are prevalent in Big Pine Key include mobile homes or trailers ( 10.94%), duplexes, homes converted to apartments or other small apartment buildings ( 4.75%), and a few large apartment complexes or high rise apartments ( 3.74%).
Dwellings in Big Pine Key tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 63.24% of the homes in Big Pine Key have two or fewer bedrooms.
There is a lot of housing in Big Pine Key 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 Big Pine Key built between 2000 and later ( 11.91%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.70%). There's also some housing in Big Pine Key built before 1939 ( 1.47%).
Vacant housing appears to be an issue in Big Pine Key. Fully 31.76% of the housing stock is classified as vacant. Left unchecked, vacant Big Pine Key homes and apartments can be a drag on the real estate market, holding Big Pine Key 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, Big Pine Key has experienced some of the highest home appreciation rates of any community in the nation. Big Pine Key real estate appreciated 151.01% over the last ten years, which is an average annual home appreciation rate of 9.64%, putting Big Pine Key in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Big Pine Key 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, Big Pine Key appreciation rates have trailed the rest of the nation. In the last twelve months, Big Pine Key's appreciation rate has been 3.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Big Pine Key were at -2.36%, which equates to an annual appreciation rate of -9.13%.
Notably, Big Pine Key's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that Big Pine Key's latest annual appreciation rate is lower than 50% of the other cities and towns in Florida.
$560,826
for Florida
for nation
1,897
$2,906 / per month