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 | Fisher Island | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,312,499 | $293,727 | $242,182 |
| Price Trend (Annual %) | — | 12.0% | 8.2% |
| Median Gross Rent | $1,239 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 13.1% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fisher Island is about 347% higher than in Florida. Rent is about 21% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2023
Median Rent Prices, 2015-2023
Median rent in Fisher Island rose about 42.2% between 2015 and 2023, from $871 to $1,239. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 16.3 yearly household incomes in Fisher Island.
Buying the median-priced home in Fisher Island costs roughly 88.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Fisher Island. The price-to-rent ratio in Florida is about 15.7.
| Metric | Fisher Island | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,312,499 | $293,727 | $242,182 |
| Median Household Income | $80,500 | $71,865 | $78,145 |
| Price-to-Income Ratio | 16.3 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Occupancy & Tenure
| Metric | Fisher Island | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 19.9% | 57.1% | 58.2% |
| Rental Rate | 25.0% | 27.7% | 31.3% |
| Vacancy Rate | 55.0% | 15.2% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Fisher Island has a homeownership rate of 19.9%, lower than the Florida average of 57.1%. Its housing vacancy rate is 55.0%, compared with 15.2% in Florida.
Housing Stock
| Metric | Fisher Island | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.80 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1988 | 1987 | 1978 |
| Median Number of Rooms | 3.7 | 5.2 | 5.5 |
The typical housing unit in Fisher Island was built around 1988. On average, 1.8 people live in a home with about 3.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fisher Island, Florida.
What is the median home price in Fisher Island, Florida?
The median home price in Fisher Island, Florida is $1,312,499, higher than the Florida average of $293,727.
What is the average home price in Fisher Island, 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 Fisher Island, Florida?
The median gross rent in Fisher Island, Florida is $1,239 per month, lower than the Florida average of $1,564.
What was the median gross rent in Fisher Island in 2020?
In 2020, the median gross rent in Fisher Island, Florida was $1,063 per month.
What is the price-to-rent ratio in Fisher Island, Florida?
The price-to-rent ratio in Fisher Island, Florida is about 88.3, meaning it would take roughly 88.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Fisher Island.
What is the homeownership rate in Fisher Island, Florida?
19.9% of households in Fisher Island, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Fisher Island, Florida?
The housing vacancy rate in Fisher Island, Florida is 55.0%, higher than the Florida average of 15.2%.