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 | Doral | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $455,286 | $293,727 | $242,182 |
| Price Trend (Annual %) | 4.4% | 12.0% | 8.2% |
| Median Gross Rent | $2,500 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Doral is about 55% higher than in Florida. Rent is about 60% 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 Doral, up about 4.4% and 4.7% a year respectively. Rent is changing faster.
Median rent in Doral rose about 40.8% between 2015 and 2023, from $1,775 to $2,500. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Doral.
Buying the median-priced home in Doral costs roughly 15.2 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 Doral. The price-to-rent ratio in Florida is about 15.7.
| Metric | Doral | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $455,286 | $293,727 | $242,182 |
| Median Household Income | $88,007 | $71,865 | $78,145 |
| Price-to-Income Ratio | 5.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Doral rose about 4.3%, while median household income rose about 32.1% 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 | Doral | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.0% | 57.1% | 58.2% |
| Rental Rate | 49.8% | 27.7% | 31.3% |
| Vacancy Rate | 8.3% | 15.2% | 10.6% |
| Median Tenure (years) | 9.0 | 13.0 | 15.0 |
| Median Year Moved In | 2017 | 2013 | 2011 |
Doral has a homeownership rate of 42.0%, lower than the Florida average of 57.1%. Its housing vacancy rate is 8.3%, compared with 15.2% in Florida.
Housing Stock
| Metric | Doral | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.15 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 2005 | 1987 | 1978 |
| Median Number of Rooms | 4.7 | 5.2 | 5.5 |
The typical housing unit in Doral was built around 2005. On average, 3.1 people live in a home with about 4.7 rooms, staying for about 9.0 years on average.
Doral, FL Housing Compared With Nearby Cities
How Doral, FL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Doral, FL | 60,015 | $455,286 #1/2 | $2,500 #1/2 | 45.8% #1/2 |
| Fountainebleau, FL | 56,256 | $230,325 | $1,965 | 43.3% |
Frequently Asked Questions
Common questions about the housing market in Doral, Florida.
What is the median home price in Doral, Florida?
The median home price in Doral, Florida is $455,286, higher than the Florida average of $293,727.
What is the average home price in Doral, 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 Doral, Florida?
The median gross rent in Doral, Florida is $2,500 per month, higher than the Florida average of $1,564.
What was the median gross rent in Doral in 2020?
In 2020, the median gross rent in Doral, Florida was $2,078 per month.
What is the price-to-rent ratio in Doral, Florida?
The price-to-rent ratio in Doral, Florida is about 15.2, meaning it would take roughly 15.2 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 Doral.
Are home prices or rent rising faster in Doral, Florida?
Both home prices and rent are rising in Doral, up about 4.4% and 4.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Doral, Florida?
42.0% of households in Doral, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Doral, Florida?
The housing vacancy rate in Doral, Florida is 8.3%, lower than the Florida average of 15.2%.