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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | DeSoto County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,498 | $293,727 | $242,182 |
| Price Trend (Annual %) | 1.9% | 12.0% | 8.2% |
| Median Gross Rent | $910 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in DeSoto County is about 81% lower than in Florida. Rent is about 42% 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 DeSoto County, up about 1.9% and 4.6% a year respectively. Rent is changing faster.
Median rent in DeSoto County rose about 37.0% between 2015 and 2023, from $664 to $910. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in DeSoto County.
Buying the median-priced home in DeSoto County costs roughly 5.2 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 DeSoto County. The price-to-rent ratio in Florida is about 15.7.
| Metric | DeSoto County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,498 | $293,727 | $242,182 |
| Median Household Income | $50,888 | $71,865 | $78,145 |
| Price-to-Income Ratio | 1.1 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in DeSoto County fell about 31.6%, while median household income rose about 37.4% 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 | DeSoto County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.4% | 57.1% | 58.2% |
| Rental Rate | 23.1% | 27.7% | 31.3% |
| Vacancy Rate | 19.5% | 15.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
DeSoto County has a homeownership rate of 57.4%, about the same as the Florida average of 57.1%. Its housing vacancy rate is 19.5%, compared with 15.2% in Florida.
Housing Stock
| Metric | DeSoto County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1988 | 1987 | 1978 |
| Median Number of Rooms | 4.8 | 5.2 | 5.5 |
The typical housing unit in DeSoto County was built around 1988. On average, 2.5 people live in a home with about 4.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in DeSoto County, Florida.
What is the median home price in DeSoto County, Florida?
The median home price in DeSoto County, Florida is $56,498, lower than the Florida average of $293,727.
What is the average home price in DeSoto County, 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 DeSoto County, Florida?
The median gross rent in DeSoto County, Florida is $910 per month, lower than the Florida average of $1,564.
What was the median gross rent in DeSoto County in 2020?
In 2020, the median gross rent in DeSoto County, Florida was $737 per month.
What is the price-to-rent ratio in DeSoto County, Florida?
The price-to-rent ratio in DeSoto County, Florida is about 5.2, meaning it would take roughly 5.2 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 DeSoto County.
Are home prices or rent rising faster in DeSoto County, Florida?
Both home prices and rent are rising in DeSoto County, up about 1.9% and 4.6% a year respectively. Rent is changing faster.
What is the homeownership rate in DeSoto County, Florida?
57.4% of households in DeSoto County, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in DeSoto County, Florida?
The housing vacancy rate in DeSoto County, Florida is 19.5%, higher than the Florida average of 15.2%.