Bay County, Florida Housing Market Prices
Bay County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 19% above the Florida median More expensive than 82% of counties in Florida$370,907
-
Median rent 11% below the Florida median$1,483
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bay County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $370,907 | $311,338 | $248,835 |
| Price Trend (Annual %) | 11.5% | 11.2% | 7.5% |
| Median Gross Rent | $1,483 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 5.9% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bay County is about 19% higher than in Florida. Rent is about 11% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bay County, up about 11.5% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Bay County rose about 61.0% between 2015 and 2024, from $921 to $1,483. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Bay County.
Buying the median-priced home in Bay County costs roughly 20.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bay County. The price-to-rent ratio in Florida is about 15.6.
| Metric | Bay County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $370,907 | $311,338 | $248,835 |
| Median Household Income | $73,432 | $74,580 | $80,455 |
| Price-to-Income Ratio | 5.1 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bay County rose about 200.9%, while median household income rose about 51.1% between 2009 and 2025 — 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 | Bay County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.6% | 57.7% | 58.5% |
| Rental Rate | 24.1% | 27.7% | 31.2% |
| Vacancy Rate | 27.3% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Bay County has a homeownership rate of 48.6%, lower than the Florida average of 57.7%. Its housing vacancy rate is 27.3%, compared with 14.6% in Florida.
Housing Stock
| Metric | Bay County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1991 | 1988 | 1978 |
| Median Number of Rooms | 5.0 | 5.2 | 5.5 |
The typical housing unit in Bay County was built around 1991. On average, 2.3 people live in a home with about 5.0 rooms, staying for about 13.0 years on average.
Bay County, FL Housing Compared With Nearby Counties
Bay County, FL is the largest of the 6 counties compared here, 186,393 residents against a local median of 19,513. Bay County, FL's median rent, at $1,483, runs 67% above the $887 typical of the counties around it.
Median home price tells the same story from another angle: $370,907 against a local median of $309,848, 20% above it. The one measure here that carries a verdict is homeownership, and at 15% below the local median it puts Bay County, FL at the weaker end of the local range. The counties themselves spread $962 on median rent, so Bay County, FL sits at one end of an already wide local range rather than apart from it. Bay County, FL has the 2nd highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Bay County, FL | 186,393 | $370,907 #3/6 | $1,483 #2/6 | 66.8% #6/6 |
| Gulf County, FL | 15,130 | $616,735 | $1,186 | 80.8% |
| Washington County, FL | 25,529 | $183,231 | $887 | 80.0% |
| Calhoun County, FL | 13,492 | $309,848 | $779 | 78.8% |
| Walton County, FL | 82,948 | $468,285 | $1,740 | 78.6% |
| Holmes County, FL | 19,513 | $27,500 | $844 | 76.4% |
Frequently Asked Questions
Common questions about the housing market in Bay County, Florida.
What is the median home price in Bay County, Florida?
The median home price in Bay County, Florida is $370,907, higher than the Florida average of $311,338.
What is the average home price in Bay County, Florida?
The typical home price in Bay County, Florida, reported as the median sale price, is $370,907. 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 Bay County, Florida?
The median gross rent in Bay County, Florida is $1,483 per month, lower than the Florida average of $1,668.
What was the median gross rent in Bay County in 2020?
In 2020, the median gross rent in Bay County, Florida was $1,099 per month.
What is the price-to-rent ratio in Bay County, Florida?
The price-to-rent ratio in Bay County, Florida is about 20.8, meaning it would take roughly 20.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bay County.
Are home prices or rent rising faster in Bay County, Florida?
Both home prices and rent are rising in Bay County, up about 11.5% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bay County, Florida?
48.6% of households in Bay County, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Bay County, Florida?
The housing vacancy rate in Bay County, Florida is 27.3%, higher than the Florida average of 14.6%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →