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 | Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $280,986 | $293,727 | $242,182 |
| Price Trend (Annual %) | 14.1% | 12.0% | 8.2% |
| Median Gross Rent | $1,445 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.2% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bradenton is about 4% lower than in Florida. Rent is about 8% lower 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 Bradenton, up about 14.1% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Bradenton rose about 56.2% between 2015 and 2023, from $925 to $1,445. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Bradenton.
Buying the median-priced home in Bradenton costs roughly 16.2 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 Bradenton. The price-to-rent ratio in Florida is about 15.7.
| Metric | Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $280,986 | $293,727 | $242,182 |
| Median Household Income | $61,227 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.6 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bradenton rose about 143.1%, while median household income rose about 42.5% 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 | Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.0% | 57.1% | 58.2% |
| Rental Rate | 29.4% | 27.7% | 31.3% |
| Vacancy Rate | 19.6% | 15.2% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Bradenton has a homeownership rate of 51.0%, lower than the Florida average of 57.1%. Its housing vacancy rate is 19.6%, compared with 15.2% in Florida.
Housing Stock
| Metric | Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1981 | 1987 | 1978 |
| Median Number of Rooms | 4.9 | 5.2 | 5.5 |
The typical housing unit in Bradenton was built around 1981. On average, 2.4 people live in a home with about 4.9 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bradenton, Florida.
What is the median home price in Bradenton, Florida?
The median home price in Bradenton, Florida is $280,986, lower than the Florida average of $293,727.
What is the average home price in Bradenton, 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 Bradenton, Florida?
The median gross rent in Bradenton, Florida is $1,445 per month, lower than the Florida average of $1,564.
What was the median gross rent in Bradenton in 2020?
In 2020, the median gross rent in Bradenton, Florida was $1,142 per month.
What is the price-to-rent ratio in Bradenton, Florida?
The price-to-rent ratio in Bradenton, Florida is about 16.2, meaning it would take roughly 16.2 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 Bradenton.
Are home prices or rent rising faster in Bradenton, Florida?
Both home prices and rent are rising in Bradenton, up about 14.1% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bradenton, Florida?
51.0% of households in Bradenton, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Bradenton, Florida?
The housing vacancy rate in Bradenton, Florida is 19.6%, higher than the Florida average of 15.2%.