Welcome! In this blog post, you’ll discover why Cape Canaveral, one of Florida’s hidden gems, is fast becoming a top-notch destination for real estate investments. Renowned for its thriving space industry and recreational opportunities, Cape Canaveral offers an enticing blend of sunshine, beach fun, and investment viability. With an estimated population of around 10,377 as of 2021, according to the United States Census Bureau, this coastal city is gaining momentum in the Florida real estate market.
Cape Canaveral’s Real Estate Market Overview
Urban spoils and beachy charm meld perfectly in Cape Canaveral, making it an attractive real estate destination. When compared to other Florida areas, the median home prices here are quite reasonable. According to Zillow, as of November 2021, the median price stands at $252,600, representing a year-over-year rise of around 7.5%. Experts predict that this growth trend will continue, with an increase of almost 4% expected in the next year.
Why Cape Canaveral’s Real Estate Market Beats Others
Several factors make the Cape Canaveral real estate market stand out from its other Florida counterparts.
Strategic Location
In addition to its proximity to Orlando, Cape Canaveral is close to several cities with significant employment markets, such as Melbourne and Palm Bay. Residents enjoy an easy commute while living in tranquillity and coastal beauty.
Steady Appreciation in Home Values
Cape Canaveral remarkably stood its ground during the last recession. While other markets suffered, it impressively maintained a trend of appreciation. From 2000 to today, homes have appreciated by more than 140%.
Rental Opportunities
Due to its unique geographical position, Cape Canaveral enjoys a steady stream of tourists. That opens up lucrative rental income possibilities – renting out your property on platforms like Airbnb or VRBO can provide a secondary income.
A Home Buyer’s Guide to Cape Canaveral
As a potential home buyer investigating Cape Canaveral, you’ll encounter a wide variety of homes for sale. Whether you seek a beachfront condo or a single-family house, this city delivers.
Beachfront Condos
Luxury condos line the seaside, offering breathtaking Atlantic Ocean views. These properties are perfect for homeowners who prefer a low-maintenance lifestyle. High-rise condos feature modern, upscale amenities like pools and exercise rooms.
Single Family Homes
Single-family homes are abundantly scattered throughout Cape Canaveral. They range from modest two-bedroom houses to exuberant waterfront properties. Most of these homes have well-manicured lawns and beautiful landscapes that lend the city its charming appeal.
Choosing the Right Neighborhood
Distinct neighborhoods offer varying lifestyles and amenities. The Beach Club Condo neighborhood, for instance, offers beach living with upscale amenities. Oceanfront living is available in areas like the Villages of Seaport, while tranquillity near the Banana River can be found in Harbor Heights.
Wrap Up: Cape Canaveral, Worth Your Real Estate Investment
Despite its relatively small size, Cape Canaveral offers a huge potential for real estate investments and a lifestyle to match. Improved infrastructure, safe neighborhoods, thriving employment markets, consistent appreciation, and a unique mix of urban-modern and coastal-vintage homes make this city a dream for homebuyers. With the forecasted rise in property values, making a move now may be the best investment for your future. Homeward bound to Cape Canaveral? You might be on track to one of the best decisions you’ve ever made.