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 4,121 people, 2,419 houses or apartments, and a median cost of homes of $609,261, real estate costs in Cortez 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 Cortez, accounting for 39.62% of the town's housing units. Other types of housing that are prevalent in Cortez include mobile homes or trailers ( 22.16%), row houses and other attached homes ( 15.70%), and a few large apartment complexes or high rise apartments ( 13.86%).
Dwellings in Cortez tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 54.34% of the homes in Cortez have two or fewer bedrooms.
There is a lot of housing in Cortez 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 Cortez built between 1940-1969 ( 31.95%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.28%). There's also some housing in Cortez built before 1939 ( 1.61%).
A decent proportion of the Cortez housing stock is seasonally occupied. That is, homes and condos in Cortez are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Cortez housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Cortez has experienced some of the highest home appreciation rates of any community in the nation. Cortez real estate appreciated 223.44% over the last ten years, which is an average annual home appreciation rate of 12.46%, putting Cortez in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cortez 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 Cortez that despite a nationwide downturn in the housing market, Cortez real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cortez appreciation rates continue to be some of the highest in America, at 17.12%, which is higher than appreciation rates in 91.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cortez. Cortez appreciation rates in the latest quarter were at 5.95%, which equates to an annual appreciation rate of 25.99%.
Importantly, this makes Cortez one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Florida, our data show that Cortez's latest annual appreciation rate is higher than 90% of the other cities and towns in Florida.
$609,261
for Florida
for nation
2,419
$2,110 / per month