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Anna Maria, ZIP Code 34216: Exceptional Home Values and Ownership Rates in a Coastal Paradise
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Anna Maria, located in zip code 34216 in Florida, is a coastal community known for its beautiful beaches and laid-back atmosphere. This area has experienced significant changes in homeownership rates and property values over the past decade, with a notable trend towards increased owner occupancy and rising average home prices.
The homeownership rate in Anna Maria has shown a steady increase from 82% in 2013 to 94% in 2022. This substantial rise in owner occupancy coincides with a dramatic increase in average home prices. In 2013, the average home price was $638,085, which more than tripled to $2,316,696 by 2022. This trend suggests a strong correlation between rising property values and increased homeownership in the area.
Federal interest rates have played a role in homeownership trends in Anna Maria. From 2013 to 2016, when interest rates were at historic lows (ranging from 0.11% to 0.40%), homeownership increased from 82% to 86%. As interest rates began to rise in 2017 (1.00%) and 2018 (1.83%), homeownership continued to increase, reaching 89% in 2018. This trend suggests that while low interest rates may have initially encouraged homeownership, other factors such as the desirability of the location and potential investment opportunities likely contributed to the continued increase in owner occupancy.
As homeownership rates increased, the percentage of renters in Anna Maria decreased significantly, from 18% in 2013 to just 6% in 2022. Interestingly, average rent prices have fluctuated during this period. In 2013, the average rent was $1,169, which increased to $1,197 in 2014 and 2015. However, there was a sharp decline to $382 in 2016, followed by a gradual increase to $1,112 by 2022. The population of the area has also decreased from 1,516 in 2013 to 804 in 2022, which may have influenced the rental market dynamics.
Looking at the most recent data, the average home price in Anna Maria was $2,246,010 in 2023 and $2,196,455 in 2024. This represents a slight decrease from the peak of $2,316,696 in 2022. The federal interest rate increased significantly to 5.02% in 2023 and 5.33% in 2024, which may have contributed to the slight cooling of the housing market.
Applying predictive models to forecast 5-year trends, it is anticipated that average home prices in Anna Maria will continue to experience moderate growth, albeit at a slower pace than the rapid increases seen in recent years. The high interest rates may temper price appreciation, but the desirability of the location and limited housing supply could sustain upward pressure on prices. Average rent prices are expected to stabilize and potentially increase moderately, as the limited rental inventory and the area's attractiveness to seasonal visitors may support rental rates.
In summary, Anna Maria has undergone a significant transformation in its housing market over the past decade. The most important discoveries include the substantial increase in homeownership rates, the dramatic rise in average home prices, and the decrease in the renter population. These trends, coupled with the area's desirable coastal location, suggest that Anna Maria has become an increasingly exclusive and valuable real estate market, with a strong preference for owner-occupied properties.
