Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Aventura | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $513,418 | $293,727 | $242,182 |
| Price Trend (Annual %) | 27.8% | 12.0% | 8.2% |
| Median Gross Rent | $2,422 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Aventura is about 75% higher than in Florida. Rent is about 55% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Aventura, up about 27.8% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Aventura rose about 48.3% between 2015 and 2023, from $1,634 to $2,422. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 6.4 yearly household incomes in Aventura.
Buying the median-priced home in Aventura costs roughly 17.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Aventura. The price-to-rent ratio in Florida is about 15.7.
| Metric | Aventura | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $513,418 | $293,727 | $242,182 |
| Median Household Income | $80,271 | $71,865 | $78,145 |
| Price-to-Income Ratio | 6.4 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Aventura rose about 159.2%, while median household income rose about 45.4% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Aventura | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.1% | 57.1% | 58.2% |
| Rental Rate | 23.2% | 27.7% | 31.3% |
| Vacancy Rate | 34.8% | 15.2% | 10.6% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Aventura has a homeownership rate of 42.1%, lower than the Florida average of 57.1%. Its housing vacancy rate is 34.8%, compared with 15.2% in Florida.
Housing Stock
| Metric | Aventura | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1988 | 1987 | 1978 |
| Median Number of Rooms | 4.1 | 5.2 | 5.5 |
The typical housing unit in Aventura was built around 1988. On average, 2.2 people live in a home with about 4.1 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Aventura, Florida.
What is the median home price in Aventura, Florida?
The median home price in Aventura, Florida is $513,418, higher than the Florida average of $293,727.
What is the average home price in Aventura, Florida?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Aventura, Florida?
The median gross rent in Aventura, Florida is $2,422 per month, higher than the Florida average of $1,564.
What was the median gross rent in Aventura in 2020?
In 2020, the median gross rent in Aventura, Florida was $1,910 per month.
What is the price-to-rent ratio in Aventura, Florida?
The price-to-rent ratio in Aventura, Florida is about 17.7, meaning it would take roughly 17.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Aventura.
Are home prices or rent rising faster in Aventura, Florida?
Both home prices and rent are rising in Aventura, up about 27.8% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Aventura, Florida?
42.1% of households in Aventura, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Aventura, Florida?
The housing vacancy rate in Aventura, Florida is 34.8%, higher than the Florida average of 15.2%.