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 | Daytona Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $175,167 | $293,727 | $242,182 |
| Price Trend (Annual %) | 12.2% | 12.0% | 8.2% |
| Median Gross Rent | $1,239 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Daytona Beach is about 40% lower than in Florida. Rent is about 21% 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 Daytona Beach, up about 12.2% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Daytona Beach rose about 60.3% between 2015 and 2023, from $773 to $1,239. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Daytona Beach.
Buying the median-priced home in Daytona Beach costs roughly 11.8 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 Daytona Beach. The price-to-rent ratio in Florida is about 15.7.
| Metric | Daytona Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $175,167 | $293,727 | $242,182 |
| Median Household Income | $50,427 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.5 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Daytona Beach rose about 110.1%, while median household income rose about 63.8% 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 | Daytona Beach | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.1% | 57.1% | 58.2% |
| Rental Rate | 43.7% | 27.7% | 31.3% |
| Vacancy Rate | 17.2% | 15.2% | 10.6% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Daytona Beach has a homeownership rate of 39.1%, lower than the Florida average of 57.1%. Its housing vacancy rate is 17.2%, compared with 15.2% in Florida.
Housing Stock
| Metric | Daytona Beach | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.10 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1982 | 1987 | 1978 |
| Median Number of Rooms | 4.5 | 5.2 | 5.5 |
The typical housing unit in Daytona Beach was built around 1982. On average, 2.1 people live in a home with about 4.5 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Daytona Beach, Florida.
What is the median home price in Daytona Beach, Florida?
The median home price in Daytona Beach, Florida is $175,167, lower than the Florida average of $293,727.
What is the average home price in Daytona Beach, 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 Daytona Beach, Florida?
The median gross rent in Daytona Beach, Florida is $1,239 per month, lower than the Florida average of $1,564.
What was the median gross rent in Daytona Beach in 2020?
In 2020, the median gross rent in Daytona Beach, Florida was $978 per month.
What is the price-to-rent ratio in Daytona Beach, Florida?
The price-to-rent ratio in Daytona Beach, Florida is about 11.8, meaning it would take roughly 11.8 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 Daytona Beach.
Are home prices or rent rising faster in Daytona Beach, Florida?
Both home prices and rent are rising in Daytona Beach, up about 12.2% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Daytona Beach, Florida?
39.1% of households in Daytona Beach, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Daytona Beach, Florida?
The housing vacancy rate in Daytona Beach, Florida is 17.2%, higher than the Florida average of 15.2%.