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 | Bloomingdale | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,999 | $293,727 | $242,182 |
| Price Trend (Annual %) | 16.0% | 12.0% | 8.2% |
| Median Gross Rent | $2,129 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bloomingdale is about 19% higher than in Florida. Rent is about 36% 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 Bloomingdale, up about 16.0% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Bloomingdale rose about 46.4% between 2015 and 2023, from $1,455 to $2,129. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Bloomingdale.
Buying the median-priced home in Bloomingdale costs roughly 13.7 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bloomingdale. The price-to-rent ratio in Florida is about 15.7.
| Metric | Bloomingdale | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,999 | $293,727 | $242,182 |
| Median Household Income | $108,189 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bloomingdale rose about 131.6%, while median household income rose about 28.0% 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 | Bloomingdale | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.0% | 57.1% | 58.2% |
| Rental Rate | 20.7% | 27.7% | 31.3% |
| Vacancy Rate | 5.4% | 15.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Bloomingdale has a homeownership rate of 74.0%, higher than the Florida average of 57.1%. Its housing vacancy rate is 5.4%, compared with 15.2% in Florida.
Housing Stock
| Metric | Bloomingdale | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.96 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1990 | 1987 | 1978 |
| Median Number of Rooms | 7.0 | 5.2 | 5.5 |
The typical housing unit in Bloomingdale was built around 1990. On average, 3.0 people live in a home with about 7.0 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bloomingdale, Florida.
What is the median home price in Bloomingdale, Florida?
The median home price in Bloomingdale, Florida is $349,999, higher than the Florida average of $293,727.
What is the average home price in Bloomingdale, 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 Bloomingdale, Florida?
The median gross rent in Bloomingdale, Florida is $2,129 per month, higher than the Florida average of $1,564.
What was the median gross rent in Bloomingdale in 2020?
In 2020, the median gross rent in Bloomingdale, Florida was $1,767 per month.
What is the price-to-rent ratio in Bloomingdale, Florida?
The price-to-rent ratio in Bloomingdale, Florida is about 13.7, meaning it would take roughly 13.7 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bloomingdale.
Are home prices or rent rising faster in Bloomingdale, Florida?
Both home prices and rent are rising in Bloomingdale, up about 16.0% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bloomingdale, Florida?
74.0% of households in Bloomingdale, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Bloomingdale, Florida?
The housing vacancy rate in Bloomingdale, Florida is 5.4%, lower than the Florida average of 15.2%.