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 | Fleming Island | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,748 | $293,727 | $242,182 |
| Price Trend (Annual %) | 7.4% | 12.0% | 8.2% |
| Median Gross Rent | $1,885 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fleming Island is about 24% lower than in Florida. Rent is about 21% 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 Fleming Island, up about 7.4% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Fleming Island rose about 32.4% between 2015 and 2023, from $1,424 to $1,885. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Fleming Island.
Buying the median-priced home in Fleming Island costs roughly 9.8 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 Fleming Island. The price-to-rent ratio in Florida is about 15.7.
| Metric | Fleming Island | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,748 | $293,727 | $242,182 |
| Median Household Income | $119,369 | $71,865 | $78,145 |
| Price-to-Income Ratio | 1.9 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fleming Island rose about 40.9%, while median household income rose about 43.4% 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 | Fleming Island | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.8% | 57.1% | 58.2% |
| Rental Rate | 13.7% | 27.7% | 31.3% |
| Vacancy Rate | 4.5% | 15.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Fleming Island has a homeownership rate of 81.8%, higher than the Florida average of 57.1%. Its housing vacancy rate is 4.5%, compared with 15.2% in Florida.
Housing Stock
| Metric | Fleming Island | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1999 | 1987 | 1978 |
| Median Number of Rooms | 7.2 | 5.2 | 5.5 |
The typical housing unit in Fleming Island was built around 1999. On average, 2.6 people live in a home with about 7.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fleming Island, Florida.
What is the median home price in Fleming Island, Florida?
The median home price in Fleming Island, Florida is $222,748, lower than the Florida average of $293,727.
What is the average home price in Fleming 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 Fleming Island, Florida?
The median gross rent in Fleming Island, Florida is $1,885 per month, higher than the Florida average of $1,564.
What was the median gross rent in Fleming Island in 2020?
In 2020, the median gross rent in Fleming Island, Florida was $1,458 per month.
What is the price-to-rent ratio in Fleming Island, Florida?
The price-to-rent ratio in Fleming Island, Florida is about 9.8, meaning it would take roughly 9.8 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 Fleming Island.
Are home prices or rent rising faster in Fleming Island, Florida?
Both home prices and rent are rising in Fleming Island, up about 7.4% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fleming Island, Florida?
81.8% of households in Fleming Island, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Fleming Island, Florida?
The housing vacancy rate in Fleming Island, Florida is 4.5%, lower than the Florida average of 15.2%.