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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Westlake, FL Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Westlake, FL Housing Market Trends

With a population of 4,255, 669 total housing units (homes and apartments), and a median house value of $799,515, Westlake house prices are not only among the most expensive in Florida, Westlake real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Westlake, accounting for 100.00% of the city's housing units.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westlake. Owner-occupied housing accounts for 96.56% of Westlake's homes, and 68.63% have either three or four bedrooms, which is average sized relative to America.

Westlake homes and real estate are some of the newest in America. 94.11% of Westlake's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Westlake real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 4.12%), and between 1970-1999 ( 1.77%).

Westlake Home Appreciation Rates

In the last 10 years, Westlake has experienced some of the highest home appreciation rates of any community in the nation. Westlake real estate appreciated 188.36% over the last ten years, which is an average annual home appreciation rate of 11.17%, putting Westlake in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westlake definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Westlake that despite a nationwide downturn in the housing market, Westlake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westlake appreciation rates continue to be some of the highest in America, at 10.61%, which is higher than appreciation rates in 89.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westlake. Westlake appreciation rates in the latest quarter were at 3.44%, which equates to an annual appreciation rate of 14.50%.

Importantly, this makes Westlake one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Florida, our data show that Westlake's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.

Average Home Values

Median Home Value

$799,515

Westlake, FL Home Prices
> $1,587,000
$1,190,001 - $1,587,000
$793,001 - $1,190,000
$635,001 - $793,000
$476,001 - $635,000
$317,001 - $476,000
$159,001 - $317,000
$79,001 - $159,000
$0 - $79,000
0.0%
0.0%
19.8%
19.8%
30.7%
30.7%
35.1%
35.1%
13.9%
13.9%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.5%
0.5%
0% 100.0%
% of Homes
Very High

for Florida

Very High

for nation

Number of Homes And Apartments:

669

Westlake Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,388 / per month

Homeownership Rate

Owners
Renters
96.6%
96.6%
3.4%
3.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.5%
1.5%
98.5%
98.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
94.1%
94.1%
1.8%
1.8%
4.1%
4.1%
0.0%
0.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
100.0%
100.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
0.0%
0.0%
12.8%
12.8%
52.4%
52.4%
16.2%
16.2%
17.8%
17.8%
0% 100.0%
% of Homes