Hillsborough County, Florida Housing Market Prices
Hillsborough County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 10% above the Florida median More expensive than 74% of counties in Florida$343,045
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Median rent About the same as the Florida median More expensive than 79% of counties in Florida$1,667
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hillsborough County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $343,045 | $311,338 | $248,835 |
| Price Trend (Annual %) | 11.6% | 11.2% | 7.5% |
| Median Gross Rent | $1,667 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 6.8% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hillsborough County is about 10% higher than in Florida. Rent follows a similar pattern, running close to the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hillsborough County, up about 11.6% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Hillsborough County rose about 72.9% between 2015 and 2024, from $964 to $1,667. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Hillsborough County.
Buying the median-priced home in Hillsborough County costs roughly 17.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Hillsborough County. The price-to-rent ratio in Florida is about 15.6.
| Metric | Hillsborough County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $343,045 | $311,338 | $248,835 |
| Median Household Income | $79,532 | $74,580 | $80,455 |
| Price-to-Income Ratio | 4.3 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hillsborough County rose about 160.6%, while median household income rose about 50.0% between 2009 and 2025 — 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 | Hillsborough County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.8% | 57.7% | 58.5% |
| Rental Rate | 35.7% | 27.7% | 31.2% |
| Vacancy Rate | 7.5% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Hillsborough County has a homeownership rate of 56.8%, lower than the Florida average of 57.7%. Its housing vacancy rate is 7.5%, compared with 14.6% in Florida.
Housing Stock
| Metric | Hillsborough County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1990 | 1988 | 1978 |
| Median Number of Rooms | 5.4 | 5.2 | 5.5 |
The typical housing unit in Hillsborough County was built around 1990. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Hillsborough County, FL Housing Compared With Nearby Counties
Hillsborough County, FL is the largest of the 6 counties compared here, 1,519,188 residents against a local median of 611,333. Hillsborough County, FL's median home price, at $343,045, runs 30% above the $263,027 typical of the counties around it.
Homeownership tells the same story from another angle: 61.4% against a local median of 74.3%, 17% below it. The one measure here that carries a verdict is homeownership, and at 17% below the local median it puts Hillsborough County, FL at the weaker end of the local range. The counties themselves spread $114,434 on median home price, so Hillsborough County, FL sits at one end of an already wide local range rather than apart from it. Hillsborough County, FL has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hillsborough County, FL | 1,519,188 | $343,045 #2/6 | $1,667 #2/6 | 61.4% #6/6 |
| Manatee County, FL | 429,651 | $344,563 | $1,671 | 74.3% |
| Pinellas County, FL | 961,969 | $281,927 | $1,642 | 69.5% |
| Pasco County, FL | 611,333 | $239,239 | $1,505 | 75.7% |
| Polk County, FL | 790,685 | $230,129 | $1,363 | 70.5% |
| Hernando County, FL | 207,007 | $263,027 | $1,297 | 82.5% |
Frequently Asked Questions
Common questions about the housing market in Hillsborough County, Florida.
What is the median home price in Hillsborough County, Florida?
The median home price in Hillsborough County, Florida is $343,045, higher than the Florida average of $311,338.
What is the average home price in Hillsborough County, Florida?
The typical home price in Hillsborough County, Florida, reported as the median sale price, is $343,045. 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 Hillsborough County, Florida?
The median gross rent in Hillsborough County, Florida is $1,667 per month, about the same as the Florida average.
What was the median gross rent in Hillsborough County in 2020?
In 2020, the median gross rent in Hillsborough County, Florida was $1,186 per month.
What is the price-to-rent ratio in Hillsborough County, Florida?
The price-to-rent ratio in Hillsborough County, Florida is about 17.2, meaning it would take roughly 17.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Hillsborough County.
Are home prices or rent rising faster in Hillsborough County, Florida?
Both home prices and rent are rising in Hillsborough County, up about 11.6% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hillsborough County, Florida?
56.8% of households in Hillsborough County, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Hillsborough County, Florida?
The housing vacancy rate in Hillsborough County, Florida is 7.5%, lower than the Florida average of 14.6%.
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