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 | Kendale Lakes | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $699,973 | $293,727 | $242,182 |
| Price Trend (Annual %) | 26.2% | 12.0% | 8.2% |
| Median Gross Rent | $1,862 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kendale Lakes is about 138% higher than in Florida. Rent is about 19% 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 Kendale Lakes, up about 26.2% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Kendale Lakes rose about 39.7% between 2015 and 2023, from $1,333 to $1,862. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 10.2 yearly household incomes in Kendale Lakes.
Buying the median-priced home in Kendale Lakes costs roughly 31.3 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 Kendale Lakes. The price-to-rent ratio in Florida is about 15.7.
| Metric | Kendale Lakes | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $699,973 | $293,727 | $242,182 |
| Median Household Income | $68,566 | $71,865 | $78,145 |
| Price-to-Income Ratio | 10.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kendale Lakes rose about 340.9%, while median household income rose about 29.9% 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 | Kendale Lakes | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.2% | 57.1% | 58.2% |
| Rental Rate | 27.5% | 27.7% | 31.3% |
| Vacancy Rate | 3.3% | 15.2% | 10.6% |
| Median Tenure (years) | 17.0 | 13.0 | 15.0 |
| Median Year Moved In | 2009 | 2013 | 2011 |
Kendale Lakes has a homeownership rate of 69.2%, higher than the Florida average of 57.1%. Its housing vacancy rate is 3.3%, compared with 15.2% in Florida.
Housing Stock
| Metric | Kendale Lakes | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.71 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1982 | 1987 | 1978 |
| Median Number of Rooms | 4.9 | 5.2 | 5.5 |
The typical housing unit in Kendale Lakes was built around 1982. On average, 2.7 people live in a home with about 4.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kendale Lakes, Florida.
What is the median home price in Kendale Lakes, Florida?
The median home price in Kendale Lakes, Florida is $699,973, higher than the Florida average of $293,727.
What is the average home price in Kendale Lakes, 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 Kendale Lakes, Florida?
The median gross rent in Kendale Lakes, Florida is $1,862 per month, higher than the Florida average of $1,564.
What was the median gross rent in Kendale Lakes in 2020?
In 2020, the median gross rent in Kendale Lakes, Florida was $1,612 per month.
What is the price-to-rent ratio in Kendale Lakes, Florida?
The price-to-rent ratio in Kendale Lakes, Florida is about 31.3, meaning it would take roughly 31.3 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 Kendale Lakes.
Are home prices or rent rising faster in Kendale Lakes, Florida?
Both home prices and rent are rising in Kendale Lakes, up about 26.2% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kendale Lakes, Florida?
69.2% of households in Kendale Lakes, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Kendale Lakes, Florida?
The housing vacancy rate in Kendale Lakes, Florida is 3.3%, lower than the Florida average of 15.2%.