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 | Kendall | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $662,182 | $293,727 | $242,182 |
| Price Trend (Annual %) | 15.9% | 12.0% | 8.2% |
| Median Gross Rent | $1,808 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kendall is about 125% higher than in Florida. Rent is about 16% 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 Kendall, up about 15.9% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Kendall rose about 39.2% between 2015 and 2023, from $1,299 to $1,808. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Kendall.
Buying the median-priced home in Kendall costs roughly 30.5 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 Kendall. The price-to-rent ratio in Florida is about 15.7.
| Metric | Kendall | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $662,182 | $293,727 | $242,182 |
| Median Household Income | $86,736 | $71,865 | $78,145 |
| Price-to-Income Ratio | 7.6 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kendall rose about 259.1%, while median household income rose about 43.2% 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 | Kendall | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.3% | 57.1% | 58.2% |
| Rental Rate | 36.6% | 27.7% | 31.3% |
| Vacancy Rate | 6.1% | 15.2% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Kendall has a homeownership rate of 57.3%, about the same as the Florida average of 57.1%. Its housing vacancy rate is 6.1%, compared with 15.2% in Florida.
Housing Stock
| Metric | Kendall | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1978 | 1987 | 1978 |
| Median Number of Rooms | 4.7 | 5.2 | 5.5 |
The typical housing unit in Kendall was built around 1978. On average, 2.5 people live in a home with about 4.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kendall, Florida.
What is the median home price in Kendall, Florida?
The median home price in Kendall, Florida is $662,182, higher than the Florida average of $293,727.
What is the average home price in Kendall, 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 Kendall, Florida?
The median gross rent in Kendall, Florida is $1,808 per month, higher than the Florida average of $1,564.
What was the median gross rent in Kendall in 2020?
In 2020, the median gross rent in Kendall, Florida was $1,546 per month.
What is the price-to-rent ratio in Kendall, Florida?
The price-to-rent ratio in Kendall, Florida is about 30.5, meaning it would take roughly 30.5 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 Kendall.
Are home prices or rent rising faster in Kendall, Florida?
Both home prices and rent are rising in Kendall, up about 15.9% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kendall, Florida?
57.3% of households in Kendall, Florida own their home, about the same as the Florida average.
What is the vacancy rate in Kendall, Florida?
The housing vacancy rate in Kendall, Florida is 6.1%, lower than the Florida average of 15.2%.