Coral Gables, Florida Housing Market Prices
Coral Gables 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.
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Median home price 232% above the Florida median$1,034,519
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Median rent 42% above the Florida median$2,372
Housing Market Overview
| Metric | Coral Gables | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,034,519 | $311,338 | $248,835 |
| Price Trend (Annual %) | 2.8% | 11.2% | 7.5% |
| Median Gross Rent | $2,372 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 6.8% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Coral Gables is about 232% higher than in Florida. Rent is about 42% higher 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 Coral Gables, up about 2.8% and 6.8% a year respectively. Rent is changing faster.
Median rent in Coral Gables rose about 82.0% between 2015 and 2024, from $1,303 to $2,372. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 7.7 yearly household incomes in Coral Gables.
Buying the median-priced home in Coral Gables costs roughly 36.4 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 Coral Gables. The price-to-rent ratio in Florida is about 15.6.
| Metric | Coral Gables | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,034,519 | $311,338 | $248,835 |
| Median Household Income | $133,839 | $74,580 | $80,455 |
| Price-to-Income Ratio | 7.7 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Coral Gables rose about 14.9%, while median household income rose about 43.7% between 2009 and 2025 — 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 | Coral Gables | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.4% | 57.7% | 58.5% |
| Rental Rate | 31.8% | 27.7% | 31.2% |
| Vacancy Rate | 12.8% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Coral Gables has a homeownership rate of 55.4%, lower than the Florida average of 57.7%. Its housing vacancy rate is 12.8%, compared with 14.6% in Florida.
Housing Stock
| Metric | Coral Gables | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1970 | 1988 | 1978 |
| Median Number of Rooms | 5.3 | 5.2 | 5.5 |
The typical housing unit in Coral Gables was built around 1970. On average, 2.3 people live in a home with about 5.3 rooms, staying for about 13.0 years on average.
Coral Gables, FL Housing Compared With Nearby Cities
How Coral Gables, FL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Coral Gables, FL | 49,643 | $1,034,519 #2/2 | $2,372 #1/2 | 63.5% #1/2 |
| Coral Terrace, FL | 24,987 | $1,135,131 | $1,829 | 58.8% |
Frequently Asked Questions
Common questions about the housing market in Coral Gables, Florida.
What is the median home price in Coral Gables, Florida?
The median home price in Coral Gables, Florida is $1,034,519, higher than the Florida average of $311,338.
What is the average home price in Coral Gables, Florida?
The typical home price in Coral Gables, Florida, reported as the median sale price, is $1,034,519. 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 Coral Gables, Florida?
The median gross rent in Coral Gables, Florida is $2,372 per month, higher than the Florida average of $1,668.
What was the median gross rent in Coral Gables in 2020?
In 2020, the median gross rent in Coral Gables, Florida was $1,789 per month.
What is the price-to-rent ratio in Coral Gables, Florida?
The price-to-rent ratio in Coral Gables, Florida is about 36.4, meaning it would take roughly 36.4 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 Coral Gables.
Are home prices or rent rising faster in Coral Gables, Florida?
Both home prices and rent are rising in Coral Gables, up about 2.8% and 6.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Coral Gables, Florida?
55.4% of households in Coral Gables, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Coral Gables, Florida?
The housing vacancy rate in Coral Gables, Florida is 12.8%, lower than the Florida average of 14.6%.
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