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 | Four Corners | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,336 | $293,727 | $242,182 |
| Price Trend (Annual %) | 37.5% | 12.0% | 8.2% |
| Median Gross Rent | $1,820 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Four Corners is about 53% higher than in Florida. Rent is about 16% 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 Four Corners, up about 37.5% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Four Corners rose about 56.8% between 2015 and 2023, from $1,161 to $1,820. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 5.9 yearly household incomes in Four Corners.
Buying the median-priced home in Four Corners costs roughly 20.6 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 Four Corners. The price-to-rent ratio in Florida is about 15.7.
| Metric | Four Corners | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,336 | $293,727 | $242,182 |
| Median Household Income | $76,024 | $71,865 | $78,145 |
| Price-to-Income Ratio | 5.9 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Four Corners rose about 221.9%, while median household income rose about 25.6% 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 | Four Corners | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 31.9% | 57.1% | 58.2% |
| Rental Rate | 27.3% | 27.7% | 31.3% |
| Vacancy Rate | 40.8% | 15.2% | 10.6% |
| Median Tenure (years) | 8.0 | 13.0 | 15.0 |
| Median Year Moved In | 2018 | 2013 | 2011 |
Four Corners has a homeownership rate of 31.9%, lower than the Florida average of 57.1%. Its housing vacancy rate is 40.8%, compared with 15.2% in Florida.
Housing Stock
| Metric | Four Corners | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 2004 | 1987 | 1978 |
| Median Number of Rooms | 5.3 | 5.2 | 5.5 |
The typical housing unit in Four Corners was built around 2004. On average, 2.8 people live in a home with about 5.3 rooms, staying for about 8.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Four Corners, Florida.
What is the median home price in Four Corners, Florida?
The median home price in Four Corners, Florida is $450,336, higher than the Florida average of $293,727.
What is the average home price in Four Corners, 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 Four Corners, Florida?
The median gross rent in Four Corners, Florida is $1,820 per month, higher than the Florida average of $1,564.
What was the median gross rent in Four Corners in 2020?
In 2020, the median gross rent in Four Corners, Florida was $1,555 per month.
What is the price-to-rent ratio in Four Corners, Florida?
The price-to-rent ratio in Four Corners, Florida is about 20.6, meaning it would take roughly 20.6 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 Four Corners.
Are home prices or rent rising faster in Four Corners, Florida?
Both home prices and rent are rising in Four Corners, up about 37.5% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Four Corners, Florida?
31.9% of households in Four Corners, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Four Corners, Florida?
The housing vacancy rate in Four Corners, Florida is 40.8%, higher than the Florida average of 15.2%.