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 | Cooper City | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,795 | $293,727 | $242,182 |
| Price Trend (Annual %) | 2.5% | 12.0% | 8.2% |
| Median Gross Rent | $2,258 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 7.7% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cooper City is about 55% higher than in Florida. Rent is about 44% 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 Cooper City, up about 2.5% and 7.7% a year respectively. Rent is changing faster.
Median rent in Cooper City rose about 69.6% between 2015 and 2023, from $1,332 to $2,258. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Cooper City.
Buying the median-priced home in Cooper City costs roughly 16.8 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 Cooper City. The price-to-rent ratio in Florida is about 15.7.
| Metric | Cooper City | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,795 | $293,727 | $242,182 |
| Median Household Income | $117,557 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.9 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cooper City rose about 32.1%, while median household income rose about 44.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Cooper City | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 80.2% | 57.1% | 58.2% |
| Rental Rate | 15.7% | 27.7% | 31.3% |
| Vacancy Rate | 4.1% | 15.2% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Cooper City has a homeownership rate of 80.2%, higher than the Florida average of 57.1%. Its housing vacancy rate is 4.1%, compared with 15.2% in Florida.
Housing Stock
| Metric | Cooper City | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.00 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1987 | 1987 | 1978 |
| Median Number of Rooms | 6.0 | 5.2 | 5.5 |
The typical housing unit in Cooper City was built around 1987. On average, 3.0 people live in a home with about 6.0 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cooper City, Florida.
What is the median home price in Cooper City, Florida?
The median home price in Cooper City, Florida is $454,795, higher than the Florida average of $293,727.
What is the average home price in Cooper City, 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 Cooper City, Florida?
The median gross rent in Cooper City, Florida is $2,258 per month, higher than the Florida average of $1,564.
What was the median gross rent in Cooper City in 2020?
In 2020, the median gross rent in Cooper City, Florida was $1,946 per month.
What is the price-to-rent ratio in Cooper City, Florida?
The price-to-rent ratio in Cooper City, Florida is about 16.8, meaning it would take roughly 16.8 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 Cooper City.
Are home prices or rent rising faster in Cooper City, Florida?
Both home prices and rent are rising in Cooper City, up about 2.5% and 7.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Cooper City, Florida?
80.2% of households in Cooper City, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Cooper City, Florida?
The housing vacancy rate in Cooper City, Florida is 4.1%, lower than the Florida average of 15.2%.