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 | Lakewood Ranch | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $471,101 | $293,727 | $242,182 |
| Price Trend (Annual %) | 7.0% | 12.0% | 8.2% |
| Median Gross Rent | $2,138 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 2.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lakewood Ranch is about 60% higher than in Florida. Rent is about 37% 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 Lakewood Ranch, up about 7.0% and 2.5% a year respectively. Home prices are changing faster.
Median rent in Lakewood Ranch rose about 19.4% between 2015 and 2023, from $1,791 to $2,138. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Lakewood Ranch.
Buying the median-priced home in Lakewood Ranch costs roughly 18.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lakewood Ranch. The price-to-rent ratio in Florida is about 15.7.
| Metric | Lakewood Ranch | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $471,101 | $293,727 | $242,182 |
| Median Household Income | $118,182 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.0 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lakewood Ranch rose about 73.0%, while median household income rose about 30.5% 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 | Lakewood Ranch | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.6% | 57.1% | 58.2% |
| Rental Rate | 14.3% | 27.7% | 31.3% |
| Vacancy Rate | 16.1% | 15.2% | 10.6% |
| Median Tenure (years) | 9.0 | 13.0 | 15.0 |
| Median Year Moved In | 2017 | 2013 | 2011 |
Lakewood Ranch has a homeownership rate of 69.6%, higher than the Florida average of 57.1%. Its housing vacancy rate is 16.1%, compared with 15.2% in Florida.
Housing Stock
| Metric | Lakewood Ranch | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 2012 | 1987 | 1978 |
| Median Number of Rooms | 5.9 | 5.2 | 5.5 |
The typical housing unit in Lakewood Ranch was built around 2012. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lakewood Ranch, Florida.
What is the median home price in Lakewood Ranch, Florida?
The median home price in Lakewood Ranch, Florida is $471,101, higher than the Florida average of $293,727.
What is the average home price in Lakewood Ranch, 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 Lakewood Ranch, Florida?
The median gross rent in Lakewood Ranch, Florida is $2,138 per month, higher than the Florida average of $1,564.
What was the median gross rent in Lakewood Ranch in 2020?
In 2020, the median gross rent in Lakewood Ranch, Florida was $1,819 per month.
What is the price-to-rent ratio in Lakewood Ranch, Florida?
The price-to-rent ratio in Lakewood Ranch, Florida is about 18.4, meaning it would take roughly 18.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lakewood Ranch.
Are home prices or rent rising faster in Lakewood Ranch, Florida?
Both home prices and rent are rising in Lakewood Ranch, up about 7.0% and 2.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lakewood Ranch, Florida?
69.6% of households in Lakewood Ranch, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Lakewood Ranch, Florida?
The housing vacancy rate in Lakewood Ranch, Florida is 16.1%, higher than the Florida average of 15.2%.