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.
Aventura, FL Housing Compared With Nearby Cities
How Aventura, FL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Aventura, FL | 37,065 | $513,418 #2/3 | $2,422 #1/3 | 64.5% #1/3 |
| Hallandale Beach, FL | 39,266 | $271,840 | $1,584 | 53.9% |
| North Miami Beach, FL | 38,785 | $860,357 | $1,608 | 52.1% |
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%.