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 | Gadsden County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $280,882 | $293,727 | $242,182 |
| Price Trend (Annual %) | 20.4% | 12.0% | 8.2% |
| Median Gross Rent | $792 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 2.0% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gadsden County is about 4% lower than in Florida. Rent is about 49% 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 Gadsden County, up about 20.4% and 2.0% a year respectively. Home prices are changing faster.
Median rent in Gadsden County rose about 16.1% between 2015 and 2023, from $682 to $792. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 6.1 yearly household incomes in Gadsden County.
Buying the median-priced home in Gadsden County costs roughly 29.6 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 Gadsden County. The price-to-rent ratio in Florida is about 15.7.
| Metric | Gadsden County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $280,882 | $293,727 | $242,182 |
| Median Household Income | $45,989 | $71,865 | $78,145 |
| Price-to-Income Ratio | 6.1 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Gadsden County rose about 141.9%, while median household income rose about 29.7% 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 | Gadsden County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.9% | 57.1% | 58.2% |
| Rental Rate | 23.4% | 27.7% | 31.3% |
| Vacancy Rate | 13.7% | 15.2% | 10.6% |
| Median Tenure (years) | 19.0 | 13.0 | 15.0 |
| Median Year Moved In | 2007 | 2013 | 2011 |
Gadsden County has a homeownership rate of 62.9%, higher than the Florida average of 57.1%. Its housing vacancy rate is 13.7%, compared with 15.2% in Florida.
Housing Stock
| Metric | Gadsden County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 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 Gadsden County was built around 1982. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gadsden County, Florida.
What is the median home price in Gadsden County, Florida?
The median home price in Gadsden County, Florida is $280,882, lower than the Florida average of $293,727.
What is the average home price in Gadsden 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 Gadsden County, Florida?
The median gross rent in Gadsden County, Florida is $792 per month, lower than the Florida average of $1,564.
What was the median gross rent in Gadsden County in 2020?
In 2020, the median gross rent in Gadsden County, Florida was $691 per month.
What is the price-to-rent ratio in Gadsden County, Florida?
The price-to-rent ratio in Gadsden County, Florida is about 29.6, meaning it would take roughly 29.6 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 Gadsden County.
Are home prices or rent rising faster in Gadsden County, Florida?
Both home prices and rent are rising in Gadsden County, up about 20.4% and 2.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gadsden County, Florida?
62.9% of households in Gadsden County, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Gadsden County, Florida?
The housing vacancy rate in Gadsden County, Florida is 13.7%, lower than the Florida average of 15.2%.