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 | Ives Estates | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,115 | $293,727 | $242,182 |
| Price Trend (Annual %) | 23.1% | 12.0% | 8.2% |
| Median Gross Rent | $1,998 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 7.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ives Estates is about 80% lower than in Florida. Rent is about 28% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Ives Estates, up about 23.1% and 7.8% a year respectively. Home prices are changing faster.
Median rent in Ives Estates rose about 70.6% between 2015 and 2023, from $1,171 to $1,998. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Ives Estates.
Buying the median-priced home in Ives Estates costs roughly 2.4 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 Ives Estates. The price-to-rent ratio in Florida is about 15.7.
| Metric | Ives Estates | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,115 | $293,727 | $242,182 |
| Median Household Income | $67,242 | $71,865 | $78,145 |
| Price-to-Income Ratio | 0.9 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Ives Estates fell about 11.4%, while median household income rose about 49.8% 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 | Ives Estates | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.6% | 57.1% | 58.2% |
| Rental Rate | 42.2% | 27.7% | 31.3% |
| Vacancy Rate | 5.2% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Ives Estates has a homeownership rate of 52.6%, lower than the Florida average of 57.1%. Its housing vacancy rate is 5.2%, compared with 15.2% in Florida.
Housing Stock
| Metric | Ives Estates | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1987 | 1987 | 1978 |
| Median Number of Rooms | 4.3 | 5.2 | 5.5 |
The typical housing unit in Ives Estates was built around 1987. On average, 2.7 people live in a home with about 4.3 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ives Estates, Florida.
What is the median home price in Ives Estates, Florida?
The median home price in Ives Estates, Florida is $58,115, lower than the Florida average of $293,727.
What is the average home price in Ives Estates, 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 Ives Estates, Florida?
The median gross rent in Ives Estates, Florida is $1,998 per month, higher than the Florida average of $1,564.
What was the median gross rent in Ives Estates in 2020?
In 2020, the median gross rent in Ives Estates, Florida was $1,457 per month.
What is the price-to-rent ratio in Ives Estates, Florida?
The price-to-rent ratio in Ives Estates, Florida is about 2.4, meaning it would take roughly 2.4 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 Ives Estates.
Are home prices or rent rising faster in Ives Estates, Florida?
Both home prices and rent are rising in Ives Estates, up about 23.1% and 7.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ives Estates, Florida?
52.6% of households in Ives Estates, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Ives Estates, Florida?
The housing vacancy rate in Ives Estates, Florida is 5.2%, lower than the Florida average of 15.2%.