Residential Real Estate
Coral Gables offers a wide range of housing choices including rental units, condominiums, and single-family homes in a stable residential real estate market. Over the years, homes in the City have appreciated at a rate significantly greater than many of the surrounding areas.
The median house value, estimated at $732,896, has more than doubled since 1980. Strict zoning laws, a favorable property tax rate and responsive municipal services, together with beautiful residential areas, make Coral Gables a sought-after address. The strong housing market is supported by equally strong residential demographics. Population estimates for 2007 showed Coral Gables with 17,419 households (a total population of 43,172) and an average household income of $130,013, compared with $67,433 County-wide.
As of 2007, the median age in Coral Gables is 40.16 with a roughly 50/50 female/male ratio. The average household size in 2007 is 2.29 - approximately 60% being family and 30% being non-family.
By the year 2012, the household growth estimate is projected to be approximately 3.63% or 17,844. Additionally by the year 2012, the population is estimated to grow by 2.92% or to 44,433 residents.
