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 | Escambia County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $197,118 | $293,727 | $242,182 |
| Price Trend (Annual %) | 10.1% | 12.0% | 8.2% |
| Median Gross Rent | $1,233 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Escambia County is about 33% 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 Escambia County, up about 10.1% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Escambia County rose about 38.3% between 2015 and 2023, from $891 to $1,233. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Escambia County.
Buying the median-priced home in Escambia County costs roughly 13.3 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 Escambia County. The price-to-rent ratio in Florida is about 15.7.
| Metric | Escambia County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $197,118 | $293,727 | $242,182 |
| Median Household Income | $66,305 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.0 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Escambia County rose about 82.4%, while median household income rose about 53.3% 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 | Escambia County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.6% | 57.1% | 58.2% |
| Rental Rate | 31.3% | 27.7% | 31.3% |
| Vacancy Rate | 13.1% | 15.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Escambia County has a homeownership rate of 55.6%, lower than the Florida average of 57.1%. Its housing vacancy rate is 13.1%, compared with 15.2% in Florida.
Housing Stock
| Metric | Escambia County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1982 | 1987 | 1978 |
| Median Number of Rooms | 5.5 | 5.2 | 5.5 |
The typical housing unit in Escambia County was built around 1982. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Escambia County, Florida.
What is the median home price in Escambia County, Florida?
The median home price in Escambia County, Florida is $197,118, lower than the Florida average of $293,727.
What is the average home price in Escambia 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 Escambia County, Florida?
The median gross rent in Escambia County, Florida is $1,233 per month, lower than the Florida average of $1,564.
What was the median gross rent in Escambia County in 2020?
In 2020, the median gross rent in Escambia County, Florida was $1,020 per month.
What is the price-to-rent ratio in Escambia County, Florida?
The price-to-rent ratio in Escambia County, Florida is about 13.3, meaning it would take roughly 13.3 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 Escambia County.
Are home prices or rent rising faster in Escambia County, Florida?
Both home prices and rent are rising in Escambia County, up about 10.1% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Escambia County, Florida?
55.6% of households in Escambia County, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Escambia County, Florida?
The housing vacancy rate in Escambia County, Florida is 13.1%, lower than the Florida average of 15.2%.