Cape Canaveral · Buying
Buying in a flood or hurricane area in Cape Canaveral
Flood zone, flood insurance, wind and 4-point reports and past flood claims, before you commit.
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Cape Canaveral sits next to Port Canaveral, one of the busiest cruise ports in the world.
Buying near the water or in hurricane country can bring up real worry. You may have watched storm coverage, heard about insurance prices, or wondered whether a home could flood. Those worries are reasonable.
Read the full guide: buying in a flood or hurricane area, step by step →
What this means in Cape Canaveral
- The typical home here is worth about $372,400. With 10% down, that is a loan of about $335,200; owners here typically spend about $1,759 a month on housing costs (Census), which gives you a real local starting point for your budget.
- About 38% of homes in Cape Canaveral were built before 1980. Older Florida homes often need a 4-point inspection (roof, electrical, plumbing, heating and cooling) before an insurer will cover them, so ask for one early, before your inspection window closes.
- Cape Canaveral is on the barrier island, so flood zones and wind insurance weigh more here than on the mainland. Florida law now requires sellers to tell buyers about past flood claims and flood damage (section 689.302), and buyers should ask for flood insurance quotes before the inspection period ends.
- To look up a home's flood zone in Cape Canaveral, use City of Cape Canaveral Flood Information. A home's flood zone decides whether a lender requires flood insurance.
- Vacation rentals in Cape Canaveral fall under the city's Vacation Rental and Inspection Program, which began on October 1, 2021.
What’s different for you
- Read the seller’s flood answers. Florida sellers answer three flood questions before you sign.
- Check the flood zone. With most mortgages, homes in high-risk flood zones must have flood insurance.
- Get insurance quotes early. Homeowners insurance doesn’t cover flooding.
- Book the 4-point and wind reports. Older homes usually need a 4-point; a wind report can lower your price.
When you start in CloseHive from this page, your plan already includes these steps, along with the usual ones for buying in Cape Canaveral. You always see what to do next, and your agent handles the how.
Cape Canaveral in numbers
- The typical home here is valued at about $372,400, which is 10% higher than Brevard County as a whole ($339,600).
- The typical home here was built around 1985, about 41 years ago. Ask about the roof's age early, because Florida insurers look at it closely.
- About 41% of homes here are rented, more than the county's 23%. Expect some buyers to be investors.
- Homes on the barrier island usually cost more to insure for wind and flood. Get insurance quotes before your inspection period ends.
- Owners with a mortgage pay about $1,759 a month in housing costs, $441 more than typical rent ($1,318). Many of those owners bought years ago at lower prices, so today's buyers often pay more.
A typical Cape Canaveral home costs about 5.5 times the typical household income here ($67,276 a year), compared with 4.3 times across Brevard. With 10% down, the loan on a $370,000 home would be $333,000, and Florida's mortgage taxes at closing would be about $1,832.
Questions people ask
Does homeowners insurance cover floods?
No. Flood insurance is a separate policy.