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 | Fort Pierce | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,476 | $293,727 | $242,182 |
| Price Trend (Annual %) | 15.2% | 12.0% | 8.2% |
| Median Gross Rent | $1,161 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.6% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fort Pierce is about 35% lower than in Florida. Rent is about 26% 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 Fort Pierce, up about 15.2% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Fort Pierce rose about 50.4% between 2015 and 2023, from $772 to $1,161. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Fort Pierce.
Buying the median-priced home in Fort Pierce costs roughly 13.7 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 Fort Pierce. The price-to-rent ratio in Florida is about 15.7.
| Metric | Fort Pierce | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,476 | $293,727 | $242,182 |
| Median Household Income | $44,330 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.3 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fort Pierce rose about 165.3%, while median household income rose about 34.9% 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 | Fort Pierce | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.3% | 57.1% | 58.2% |
| Rental Rate | 44.2% | 27.7% | 31.3% |
| Vacancy Rate | 15.5% | 15.2% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Fort Pierce has a homeownership rate of 40.3%, lower than the Florida average of 57.1%. Its housing vacancy rate is 15.5%, compared with 15.2% in Florida.
Housing Stock
| Metric | Fort Pierce | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1979 | 1987 | 1978 |
| Median Number of Rooms | 4.9 | 5.2 | 5.5 |
The typical housing unit in Fort Pierce was built around 1979. On average, 2.6 people live in a home with about 4.9 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fort Pierce, Florida.
What is the median home price in Fort Pierce, Florida?
The median home price in Fort Pierce, Florida is $190,476, lower than the Florida average of $293,727.
What is the average home price in Fort Pierce, 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 Fort Pierce, Florida?
The median gross rent in Fort Pierce, Florida is $1,161 per month, lower than the Florida average of $1,564.
What was the median gross rent in Fort Pierce in 2020?
In 2020, the median gross rent in Fort Pierce, Florida was $945 per month.
What is the price-to-rent ratio in Fort Pierce, Florida?
The price-to-rent ratio in Fort Pierce, Florida is about 13.7, meaning it would take roughly 13.7 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 Fort Pierce.
Are home prices or rent rising faster in Fort Pierce, Florida?
Both home prices and rent are rising in Fort Pierce, up about 15.2% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fort Pierce, Florida?
40.3% of households in Fort Pierce, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Fort Pierce, Florida?
The housing vacancy rate in Fort Pierce, Florida is 15.5%, higher than the Florida average of 15.2%.