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 4,121, 2,419 total housing units (homes and apartments), and a median house value of $589,591, 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 186.07% over the last ten years, which is an average annual home appreciation rate of 11.08%, 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.
NeighborhoodScout's data show that during the latest twelve months, Cortez's appreciation rate, at 7.48%, has been at or slightly above the national average. In the latest quarter, Cortez's appreciation rate has been -1.60%, which annualizes to a rate of -6.26%.
Notably, Cortez's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that Cortez's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.
$589,591
for Florida
for nation
2,419
$2,145 / per month