Welcome to Cocoa Beach, the jewel of Florida’s Space Coast. Renowned for its year-round sun, sand, and surf, Cocoa Beach has a lot more to offer than just a fantastic vacation spot. It’s a paradise waiting to be called ‘home’. Given its moderate climate, its highly-ranked schools, its reputation for low crime rates, and its exceptional dining and shopping options, it’s not surprising that more people are considering this beautiful coastal city as their new home.
With a 10-year annual growth rate of 1.38% and a population of about 11,528 residents as of 2020, according to the United States Census Bureau, Cocoa Beach’s real estate market has been buzzing along nicely. Still, are you considering becoming one of the lucky homeowners? If so, this comprehensive guide will provide valuable insights about the Cocoa Beach real estate market.
Growing Market with Great Value
The real estate market in Cocoa Beach is quite dynamic and offers attractive opportunities for potential homeowners. This is thanks to its diverse range of properties available, from beachfront condos to spacious single-family homes, fitting all budgets and lifestyle preferences. Recent data from Zillow.com strengthens this point. The median home value in Cocoa Beach has shot up by 4.3% in just one year, reaching $364,468 in 2022. Besides, experts in the industry anticipate these values to rise another 3.4% within the next year.
Moreover, given the city’s excellent schools and healthcare facilities, a plethora of recreational activities, and the charming beachfront, Cocoa Beach has proven to offer solid value for money when it comes to real estate.
Favorable Market Conditions
Now, you might be thinking – given the rising prices, should you still consider buying a home in Cocoa Beach? Absolutely! Despite the recent boom in the real estate market, Cocoa Beach offers incredible home values when compared to state and national averages. While it might be true that home prices are on the rise, they remain comparatively lower than in other Florida areas.
Plus, don’t forget the interest rates. With lower-than-average interest rates, now is an excellent time to jump into homeownership. According to the Federal Reserve Bank of St. Louis, the average 30-year mortgage rate is still historically low at 3.1%, as of January 2022. These lower interest rates make buying a home in Cocoa Beach even more financially viable.
An Amicable Neighborhood
Part of Cocoa Beach’s allure is its friendly and welcoming community. The city values a sense of communal harmony and unity, and that is echoed in the strong relationships among its residents. This attribute is even more amplified with the city’s intense focus on family welfare. Many neighborhoods host regular social events, giving you and your family a chance to plug into a warm, friendly community.
All-round Amenities
In addition to the physical attributes of your potential home, take into account the amenities and infrastructure available in Cocoa Beach. From top-rated schools and well-equipped hospitals to recreational parks and shopping centers, Cocoa Beach has it all.
The Brevard Public School District is counted among the best in Florida and boasts of high graduation rates, test scores, and college admissions. Moreover, the city’s medical facilities are comprehensive, and residents have access to an array of healthcare services ensuring their overall well-being.
Conclusion
Yes, the real estate scenario in Cocoa Beach is looking promising, but remember that buying a home is a significant personal and financial decision. It’s essential to carefully consider your budget, lifestyle, and future plans before making your move. With its great value, favorable market conditions, and amicable community, Cocoa Beach presents a compelling proposition for homeownership.
So, if you’re dreaming of a home with a beachfront view and a thriving community, Cocoa Beach might be the perfect place for you. This remarkable city offers more than just a house; it offers a home, a community, and a lifestyle. Welcome home, to Cocoa Beach.