Episode 2 · Property Types & Supply Dynamics
North Bay Village Housing: Condos, Houses and Owners
North Bay Village is a small island village where condo buildings far outnumber houses, and a district of houses built after the war sits among them. This page shows what is built here, how big and how old the homes are, who holds them, how long owners stay, and how the Florida assessed value cap shapes the county's numbers. It shows no sale prices and no tax bills.
💡 Key Insights & Takeaways
- Condos are 87.7% of the village's 3,472 residential parcels, and the median condo has 1,030 square feet of living area against 2,010 square feet for the median house.
- The median house was built in 1951, 55.0% of houses show a recorded renovation, and the 29 houses built since 2000 have a median of 4,703 square feet.
- A homestead exemption covers 68.6% of houses and 32.9% of condo parcels, and a company name on 27.4% of condo parcels is a rough sign of investor ownership, not proof.
- The cap shelters 41.9% of the just value of houses against 15.7% for condos, and assessed value is not market value.
- The median house has been held 6.7 years and the median condo 7.2 years, and the county's data ends on 3 February 2026, so true hold times run longer.
A North Bay Village house is assessed by its exemption almost as much as by the house. As of 15 October 2026, homesteaded houses built before 2000 are assessed at a median of $413,762, against $916,770 for houses that age with no exemption. Their just values, the county's estimate before the cap, differ by only 1.14 times.
At a glance
North Bay Village housing measures, as of 15 October 2026.
| Measure | Value | Sample and date |
|---|---|---|
| Condo share of residential parcels | 87.7% | 3,472 parcels, 15 October 2026 |
| Median house living area | 2,010 square feet | 373 houses, 15 October 2026 |
| Median condo living area | 1,030 square feet | 3,045 condo parcels, 15 October 2026 |
| Houses with a homestead exemption | 68.6% | 373 houses, 15 October 2026 |
| Condo parcels with a homestead exemption | 32.9% | 3,045 condo parcels, 15 October 2026 |
What is built in North Bay Village, and how many of each kind?
North Bay Village has 3,472 residential parcels as of 15 October 2026. A parcel is one lot or unit as the county lists it, so these are not counts of homes or households. The county lists 3,619 parcels in the village in all, and the other 147 are commercial, government, common-area and dock parcels that this page leaves out.
North Bay Village residential parcels by type, as of 15 October 2026.
| Type | Parcels | Note |
|---|---|---|
| Condos | 3,045 | 87.7% of residential parcels; includes 12 co-operative parcels |
| Houses | 373 | 10.7% of residential parcels |
| Multi-family buildings | 23 | 0.7% of residential parcels |
| Vacant-class parcels | 23 | 0.7% of residential parcels; covered in the last section |
| Boat dock parcels | 8 | 0.2% of residential parcels |
The county has no townhouse class, so any townhome in the village is counted inside the condo parcels, and this page gives no townhouse figure. Houses have the most measures on record, so each section shows them first, with condos beside them.
The county lists land value, building value and lot size as zero on condo parcels. That is how Florida records condos, not a flaw in the data, so this page gives no land share or lot size for condos.
How big are North Bay Village homes?
The median house has 2,010 square feet of living area on a lot of 7,140 square feet, across the 373 houses as of 15 October 2026. The median floor-area ratio is 0.26, which is living area divided by lot area, so living area is about a quarter of the lot for the typical house.
Size and layout of North Bay Village homes by type, as of 15 October 2026.
| Measure | Houses | Condos |
|---|---|---|
| Parcels counted | 373 | 3,045 |
| Median living area | 2,010 square feet | 1,030 square feet |
| Median lot size | 7,140 square feet | Zero on condo parcels |
| Median bathrooms | 2 bathrooms | Not stated |
Of the 373 houses, 32.4% have three or more bathrooms and 1.6% have one. A total of 80.7% of houses have one storey and 19.3% have two or more. This page gives no bedroom count for either type and no story count for condos.
How old are North Bay Village homes, and have they been renovated?
The median house was built in 1951. As of 15 October 2026, 10.7% of houses were built before 1950 and 7.8% in 2000 or later. The median condo was built in 1987, across 3,045 condo parcels.
The county also lists an effective year built, which is its adjusted year for a building after major work. A total of 55.0% of houses show an effective year later than their year built, and the median effective year for houses is 1970.
For condos, 228 parcels show a renovation gap, and all of them share the same two years. They are one group of buildings that the county lists one way, not 228 separate remodels. This page gives no condo renovation share for that reason.
Who holds North Bay Village homes, and for how long?
A homestead exemption marks a home that its owner lives in as a main residence, and it is the closest sign of owner-occupancy that the county gives. It is a floor, not a count, because a parcel without one may still be lived in by its owner. As of 15 October 2026, 68.6% of houses and 32.9% of condo parcels carry one.
An entity is a company, a trust or another owner that is not a person.
Owners and holding time in North Bay Village by type, as of 15 October 2026.
| Measure | Houses | Condos |
|---|---|---|
| Parcels with a homestead exemption | 68.6% | 32.9% |
| Held by any entity | 26.8% | Not stated |
| Held in a trust | 11.0% | 6.0% |
| Held by a corporate or LLC owner | 16.9% | 27.4% |
| Median years since the last transfer | 6.7 years | 7.2 years |
| Held 20 years or more | 18.9% | Not stated |
| Held 30 years or more | 8.6% | Not stated |
A trust is an estate-planning tool that long-time owner-occupants often use, so trust ownership is not read as an investor buying in. A company name is a nearer sign of investor ownership, but it also covers owners who live in the home and hold it through a company, so the 27.4% for condos is a rough sign and not proof.
Owner mailing addresses show where bills go, not who lives in the home, so they set only a lower bound on outside ownership. A total of 5.1% of houses have an out-of-state US mailing address and 0.3% have one outside the US, while 11.0% of condo parcels have a mailing address outside Florida.
The median house last changed hands 6.7 years before 15 October 2026, across 370 houses with a transfer date, and 18.9% of houses have been held 20 years or more. Condos have a median of 7.2 years across 3,037 condo parcels. Holding times spread wide, from quick turnover to a long tail, since 8.6% of houses have been held 30 years or more.
The latest transfer in the county's data is dated 3 February 2026, which is 8.3 months before the as-of date. Every hold time on this page therefore runs shorter than the true figure by about that gap, and the data cannot show a later sale.
How does the Save Our Homes cap change assessed values in North Bay Village?
The Save Our Homes cap limits how fast the county's assessed value can rise on a homesteaded property. Just value is the county's estimate of full value before the cap, so the gap between just value and assessed value shows what the cap has built up. Assessed value is not a sale price or a market value, and it compares homes by the year of purchase more than by their relative value.
As of 15 October 2026, the median house is assessed $520,745 below its just value across 373 houses, and the median condo is assessed $28,484 below across 3,045 condo parcels. The median house has an assessed value of $640,290 against a just value of $988,414, which is $303 of assessed value per square foot of living area. The cap shelters 41.9% of the total just value of houses and 15.7% for condos.
The clearest case is a match on age. Among houses built before 2000, the 243 with a homestead exemption have a median assessed value of $413,762, and the 101 without one have $916,770. Their median just values differ by only 1.14 times, non-homesteaded to homesteaded, and the houses are alike in size, age and lot. The gap in assessed value is therefore the cap and not the house.
Median assessed value of North Bay Village houses by exemption status, as of 15 October 2026.
| Group | Houses | Median assessed value |
|---|---|---|
| All houses with a homestead exemption | 256 | $448,356 |
| All houses without a homestead exemption | 117 | $1,006,092 |
| Built before 2000, with an exemption | 243 | $413,762 |
| Built before 2000, without an exemption | 101 | $916,770 |
When a home sells, the benefit generally resets for the new owner, so a seller's assessed value is a poor guide to a buyer's. This page shows no tax rates and no tax bills, because the annual tax billed is not in the data. Ask a tax professional about a specific home.
Is land the bigger part of a house's value, and which houses could be rebuilt?
For a house here, land is the larger part of the county's just value. The median land share is 74.2%, and land value is higher than building value on 97.6% of houses, across 373 houses as of 15 October 2026. These are the county's estimates and not sale prices.
Rebuilding has already happened. The 29 houses built since 2000 have a median living area of 4,703 square feet, against 1,970 square feet for the 344 houses built before 2000.
The county's teardown score counts a house as a strong candidate when it meets three or more of five conditions. Strong candidates are 65 houses, which is 17.4% of houses, and 18.5% are moderate candidates. Three of the five conditions are percentile cuts that flag about a quarter of houses each, so 65 is an upper bound and not a forecast. The score does not predict demolitions.
Vacant-class parcels number 23, and 52.2% of them are held by a corporate or LLC owner. A company name does not by itself show who plans to build.
Common questions
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