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 | Jupiter | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $554,382 | $293,727 | $242,182 |
| Price Trend (Annual %) | 14.0% | 12.0% | 8.2% |
| Median Gross Rent | $2,153 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jupiter is about 89% higher than in Florida. Rent is about 38% 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 Jupiter, up about 14.0% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Jupiter rose about 50.5% between 2015 and 2023, from $1,430 to $2,153. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Jupiter.
Buying the median-priced home in Jupiter costs roughly 21.5 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 Jupiter. The price-to-rent ratio in Florida is about 15.7.
| Metric | Jupiter | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $554,382 | $293,727 | $242,182 |
| Median Household Income | $106,077 | $71,865 | $78,145 |
| Price-to-Income Ratio | 5.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jupiter rose about 134.0%, while median household income rose about 54.3% 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 | Jupiter | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.4% | 57.1% | 58.2% |
| Rental Rate | 19.4% | 27.7% | 31.3% |
| Vacancy Rate | 17.3% | 15.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Jupiter has a homeownership rate of 63.4%, higher than the Florida average of 57.1%. Its housing vacancy rate is 17.3%, compared with 15.2% in Florida.
Housing Stock
| Metric | Jupiter | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1993 | 1987 | 1978 |
| Median Number of Rooms | 5.2 | 5.2 | 5.5 |
The typical housing unit in Jupiter was built around 1993. On average, 2.5 people live in a home with about 5.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jupiter, Florida.
What is the median home price in Jupiter, Florida?
The median home price in Jupiter, Florida is $554,382, higher than the Florida average of $293,727.
What is the average home price in Jupiter, 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 Jupiter, Florida?
The median gross rent in Jupiter, Florida is $2,153 per month, higher than the Florida average of $1,564.
What was the median gross rent in Jupiter in 2020?
In 2020, the median gross rent in Jupiter, Florida was $1,694 per month.
What is the price-to-rent ratio in Jupiter, Florida?
The price-to-rent ratio in Jupiter, Florida is about 21.5, meaning it would take roughly 21.5 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 Jupiter.
Are home prices or rent rising faster in Jupiter, Florida?
Both home prices and rent are rising in Jupiter, up about 14.0% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jupiter, Florida?
63.4% of households in Jupiter, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Jupiter, Florida?
The housing vacancy rate in Jupiter, Florida is 17.3%, higher than the Florida average of 15.2%.