Real Estate Investing in Cape Canaveral, Florida (32920)
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Should you buy in 32920 (Cape Canaveral, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 34.7% of homes vacant — above national norms.
What’s happening in Cape Canaveral, FL (32920)?
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Market Analysis: 32920 Cape Canaveral
ZIP 32920 in Cape Canaveral, FL carries a substantial set of headwinds. Home values near $317K and rents of $2,001/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 32920 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 32920 sits on the difficult end of the FL spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 32920 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Cape Canaveral:
Property Strategy for 32920
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $157,295 | $1,160 | 5.3% | — | $157,295 |
| 2BR | $293,783 | $1,340 | 3.3% | +6.0% | $146,891 |
| 3BR | $438,297 | $1,830 | 3.0% | +6.5% | $146,099 |
| 4BR | $489,894 | $2,070 | 3.0% | +5.9% | $122,474 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 32920 Compare?
| Metric | 32920 | Cape Canaveral | Palm Bay-Melbourne-Titusville, FL | Florida |
|---|---|---|---|---|
| Home Value | $316,649 | $316,649 | N/A | $374,697 |
| 5-Year CAGR | 2.6% | 2.6% | N/A | 7.4% |
| Avg Rent | $2,001 | $2,001 | N/A | - |
| Cap Rate | 4.9% | 4.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32920 (Cape Canaveral, FL). Anonymous, moderated, never written by AI.
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Property managers serving Brevard County
Manage rentals here? List your business →Solutions Property Management LLC offers residential, multi-family, commercial, and community association property management services in Melbourne, including marketing, tenant screening, rent collect summary from their website
Aamerican Property Management provides services for renters, including rental FAQs, online applications, online payments, and maintenance requests. summary from their website
All Brevard Property Management is a property management company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $316,649 |
| Monthly Rent | $2,001 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | -1.5% ▼ |
| 3-Year CAGR | -3.1% ▼ |
| 5-Year CAGR | +2.6% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 32920
Population: 9,964
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 32920
Schools in This ZIP Code
About Repit School Scores
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We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What are rental rates like in Cape Canaveral, FL?
Rents in Cape Canaveral, FL run near $2,001/mo. Compared with median home prices of $317K that produces solid gross yields for typical rentals.
Is it easy to find good tenants in Cape Canaveral, FL?
Cape Canaveral, FL offers a steady renter base at the $2,001/mo rent level. Tenant turnover is reasonable for well-managed properties.
What is the best play in Cape Canaveral, FL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Cape Canaveral, FL. The numbers - $317K homes against $2,001/mo rents - support that play.
How viable is house hacking in Cape Canaveral, FL?
Cape Canaveral, FL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,001/mo rent level.
How do home values compare in Cape Canaveral, FL?
Median home price in Cape Canaveral, FL is near $317K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
You know 32920 now. You don’t know where it ranks.
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How 32920 ranks in Palm Bay-Melbourne-Titusville, FL
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