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 | Holmes County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $61,875 | $293,727 | $242,182 |
| Price Trend (Annual %) | 19.9% | 12.0% | 8.2% |
| Median Gross Rent | $823 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Holmes County is about 79% lower than in Florida. Rent is about 47% 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 Holmes County, up about 19.9% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Holmes County rose about 28.0% between 2015 and 2023, from $643 to $823. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Holmes County.
Buying the median-priced home in Holmes County costs roughly 6.3 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 Holmes County. The price-to-rent ratio in Florida is about 15.7.
| Metric | Holmes County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $61,875 | $293,727 | $242,182 |
| Median Household Income | $48,019 | $71,865 | $78,145 |
| Price-to-Income Ratio | 1.3 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Holmes County fell about 20.3%, while median household income rose about 43.9% 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 | Holmes County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.9% | 57.1% | 58.2% |
| Rental Rate | 19.1% | 27.7% | 31.3% |
| Vacancy Rate | 18.0% | 15.2% | 10.6% |
| Median Tenure (years) | 17.0 | 13.0 | 15.0 |
| Median Year Moved In | 2009 | 2013 | 2011 |
Holmes County has a homeownership rate of 62.9%, higher than the Florida average of 57.1%. Its housing vacancy rate is 18.0%, compared with 15.2% in Florida.
Housing Stock
| Metric | Holmes County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1984 | 1987 | 1978 |
| Median Number of Rooms | 5.3 | 5.2 | 5.5 |
The typical housing unit in Holmes County was built around 1984. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Holmes County, Florida.
What is the median home price in Holmes County, Florida?
The median home price in Holmes County, Florida is $61,875, lower than the Florida average of $293,727.
What is the average home price in Holmes 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 Holmes County, Florida?
The median gross rent in Holmes County, Florida is $823 per month, lower than the Florida average of $1,564.
What was the median gross rent in Holmes County in 2020?
In 2020, the median gross rent in Holmes County, Florida was $705 per month.
What is the price-to-rent ratio in Holmes County, Florida?
The price-to-rent ratio in Holmes County, Florida is about 6.3, meaning it would take roughly 6.3 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 Holmes County.
Are home prices or rent rising faster in Holmes County, Florida?
Both home prices and rent are rising in Holmes County, up about 19.9% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Holmes County, Florida?
62.9% of households in Holmes County, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Holmes County, Florida?
The housing vacancy rate in Holmes County, Florida is 18.0%, higher than the Florida average of 15.2%.