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.
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%.