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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Levy County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,189 | $293,727 | $242,182 |
| Price Trend (Annual %) | 5.6% | 12.0% | 8.2% |
| Median Gross Rent | $826 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Levy County is about 67% lower than in Florida. Rent is about 47% 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 Levy County, up about 5.6% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Levy County rose about 23.1% between 2015 and 2023, from $671 to $826. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Levy County.
Buying the median-priced home in Levy County costs roughly 9.8 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 Levy County. The price-to-rent ratio in Florida is about 15.7.
| Metric | Levy County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,189 | $293,727 | $242,182 |
| Median Household Income | $54,416 | $71,865 | $78,145 |
| Price-to-Income Ratio | 1.8 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Levy County fell about 24.3%, while median household income rose about 53.8% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Levy County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.7% | 57.1% | 58.2% |
| Rental Rate | 17.1% | 27.7% | 31.3% |
| Vacancy Rate | 15.2% | 15.2% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Levy County has a homeownership rate of 67.7%, higher than the Florida average of 57.1%. Its housing vacancy rate is 15.2%, compared with 15.2% in Florida.
Housing Stock
| Metric | Levy County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1991 | 1987 | 1978 |
| Median Number of Rooms | 5.3 | 5.2 | 5.5 |
The typical housing unit in Levy County was built around 1991. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Levy County, Florida.
What is the median home price in Levy County, Florida?
The median home price in Levy County, Florida is $97,189, lower than the Florida average of $293,727.
What is the average home price in Levy County, 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 Levy County, Florida?
The median gross rent in Levy County, Florida is $826 per month, lower than the Florida average of $1,564.
What was the median gross rent in Levy County in 2020?
In 2020, the median gross rent in Levy County, Florida was $704 per month.
What is the price-to-rent ratio in Levy County, Florida?
The price-to-rent ratio in Levy County, Florida is about 9.8, meaning it would take roughly 9.8 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 Levy County.
Are home prices or rent rising faster in Levy County, Florida?
Both home prices and rent are rising in Levy County, up about 5.6% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Levy County, Florida?
67.7% of households in Levy County, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Levy County, Florida?
The housing vacancy rate in Levy County, Florida is 15.2%, about the same as the Florida average.