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 | Bonita Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $514,907 | $293,727 | $242,182 |
| Price Trend (Annual %) | 6.0% | 12.0% | 8.2% |
| Median Gross Rent | $1,812 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 7.0% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bonita Springs is about 75% higher than in Florida. Rent is about 16% 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 Bonita Springs, up about 6.0% and 7.0% a year respectively. Rent is changing faster.
Median rent in Bonita Springs rose about 63.2% between 2015 and 2023, from $1,110 to $1,812. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 5.6 yearly household incomes in Bonita Springs.
Buying the median-priced home in Bonita Springs costs roughly 23.7 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 Bonita Springs. The price-to-rent ratio in Florida is about 15.7.
| Metric | Bonita Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $514,907 | $293,727 | $242,182 |
| Median Household Income | $91,995 | $71,865 | $78,145 |
| Price-to-Income Ratio | 5.6 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bonita Springs rose about 69.6%, while median household income rose about 66.8% 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 | Bonita Springs | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.6% | 57.1% | 58.2% |
| Rental Rate | 13.0% | 27.7% | 31.3% |
| Vacancy Rate | 36.4% | 15.2% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Bonita Springs has a homeownership rate of 50.6%, lower than the Florida average of 57.1%. Its housing vacancy rate is 36.4%, compared with 15.2% in Florida.
Housing Stock
| Metric | Bonita Springs | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1998 | 1987 | 1978 |
| Median Number of Rooms | 5.1 | 5.2 | 5.5 |
The typical housing unit in Bonita Springs was built around 1998. On average, 2.2 people live in a home with about 5.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bonita Springs, Florida.
What is the median home price in Bonita Springs, Florida?
The median home price in Bonita Springs, Florida is $514,907, higher than the Florida average of $293,727.
What is the average home price in Bonita Springs, 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 Bonita Springs, Florida?
The median gross rent in Bonita Springs, Florida is $1,812 per month, higher than the Florida average of $1,564.
What was the median gross rent in Bonita Springs in 2020?
In 2020, the median gross rent in Bonita Springs, Florida was $1,335 per month.
What is the price-to-rent ratio in Bonita Springs, Florida?
The price-to-rent ratio in Bonita Springs, Florida is about 23.7, meaning it would take roughly 23.7 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 Bonita Springs.
Are home prices or rent rising faster in Bonita Springs, Florida?
Both home prices and rent are rising in Bonita Springs, up about 6.0% and 7.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Bonita Springs, Florida?
50.6% of households in Bonita Springs, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Bonita Springs, Florida?
The housing vacancy rate in Bonita Springs, Florida is 36.4%, higher than the Florida average of 15.2%.