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 West | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $229,745 | $293,727 | $242,182 |
| Price Trend (Annual %) | 10.8% | 12.0% | 8.2% |
| Median Gross Rent | $1,754 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kendall West is about 22% lower than in Florida. Rent is about 12% 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 West, up about 10.8% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Kendall West rose about 39.8% between 2015 and 2023, from $1,255 to $1,754. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Kendall West.
Buying the median-priced home in Kendall West costs roughly 10.9 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 Kendall West. The price-to-rent ratio in Florida is about 15.7.
| Metric | Kendall West | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $229,745 | $293,727 | $242,182 |
| Median Household Income | $66,490 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.5 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kendall West rose about 104.1%, while median household income rose about 52.3% 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 | Kendall West | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.3% | 57.1% | 58.2% |
| Rental Rate | 46.1% | 27.7% | 31.3% |
| Vacancy Rate | 3.6% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Kendall West has a homeownership rate of 50.3%, lower than the Florida average of 57.1%. Its housing vacancy rate is 3.6%, compared with 15.2% in Florida.
Housing Stock
| Metric | Kendall West | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.77 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1986 | 1987 | 1978 |
| Median Number of Rooms | 4.4 | 5.2 | 5.5 |
The typical housing unit in Kendall West was built around 1986. On average, 2.8 people live in a home with about 4.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kendall West, Florida.
What is the median home price in Kendall West, Florida?
The median home price in Kendall West, Florida is $229,745, lower than the Florida average of $293,727.
What is the average home price in Kendall West, 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 West, Florida?
The median gross rent in Kendall West, Florida is $1,754 per month, higher than the Florida average of $1,564.
What was the median gross rent in Kendall West in 2020?
In 2020, the median gross rent in Kendall West, Florida was $1,516 per month.
What is the price-to-rent ratio in Kendall West, Florida?
The price-to-rent ratio in Kendall West, Florida is about 10.9, meaning it would take roughly 10.9 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 Kendall West.
Are home prices or rent rising faster in Kendall West, Florida?
Both home prices and rent are rising in Kendall West, up about 10.8% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kendall West, Florida?
50.3% of households in Kendall West, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Kendall West, Florida?
The housing vacancy rate in Kendall West, Florida is 3.6%, lower than the Florida average of 15.2%.