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 | Leesburg | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,030 | $293,727 | $242,182 |
| Price Trend (Annual %) | 9.4% | 12.0% | 8.2% |
| Median Gross Rent | $1,138 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Leesburg is about 28% lower than in Florida. Rent is about 27% lower 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 Leesburg, up about 9.4% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Leesburg rose about 38.8% between 2015 and 2023, from $820 to $1,138. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Leesburg.
Buying the median-priced home in Leesburg costs roughly 15.5 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 Leesburg. The price-to-rent ratio in Florida is about 15.7.
| Metric | Leesburg | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,030 | $293,727 | $242,182 |
| Median Household Income | $49,870 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Leesburg rose about 174.6%, while median household income rose about 24.7% 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 | Leesburg | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.1% | 57.1% | 58.2% |
| Rental Rate | 29.5% | 27.7% | 31.3% |
| Vacancy Rate | 16.4% | 15.2% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Leesburg has a homeownership rate of 54.1%, lower than the Florida average of 57.1%. Its housing vacancy rate is 16.4%, compared with 15.2% in Florida.
Housing Stock
| Metric | Leesburg | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1983 | 1987 | 1978 |
| Median Number of Rooms | 5.0 | 5.2 | 5.5 |
The typical housing unit in Leesburg was built around 1983. On average, 2.2 people live in a home with about 5.0 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Leesburg, Florida.
What is the median home price in Leesburg, Florida?
The median home price in Leesburg, Florida is $211,030, lower than the Florida average of $293,727.
What is the average home price in Leesburg, 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 Leesburg, Florida?
The median gross rent in Leesburg, Florida is $1,138 per month, lower than the Florida average of $1,564.
What was the median gross rent in Leesburg in 2020?
In 2020, the median gross rent in Leesburg, Florida was $910 per month.
What is the price-to-rent ratio in Leesburg, Florida?
The price-to-rent ratio in Leesburg, Florida is about 15.5, meaning it would take roughly 15.5 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 Leesburg.
Are home prices or rent rising faster in Leesburg, Florida?
Both home prices and rent are rising in Leesburg, up about 9.4% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Leesburg, Florida?
54.1% of households in Leesburg, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Leesburg, Florida?
The housing vacancy rate in Leesburg, Florida is 16.4%, higher than the Florida average of 15.2%.