Lutz, Florida Housing Market Prices
Lutz Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 11% above the Florida median$345,444
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Median rent 4% above the Florida median$1,729
Housing Market Overview
| Metric | Lutz | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $345,444 | $311,338 | $248,835 |
| Price Trend (Annual %) | 12.1% | 11.2% | 7.5% |
| Median Gross Rent | $1,729 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 7.0% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lutz is about 11% higher than in Florida. Rent is about 4% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lutz, up about 12.1% and 7.0% a year respectively. Home prices are changing faster.
Median rent in Lutz rose about 82.4% between 2015 and 2024, from $948 to $1,729. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Lutz.
Buying the median-priced home in Lutz costs roughly 16.7 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 Lutz. The price-to-rent ratio in Florida is about 15.6.
| Metric | Lutz | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $345,444 | $311,338 | $248,835 |
| Median Household Income | $104,411 | $74,580 | $80,455 |
| Price-to-Income Ratio | 3.3 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lutz rose about 177.7%, while median household income rose about 31.9% between 2009 and 2025 — 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 | Lutz | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.5% | 57.7% | 58.5% |
| Rental Rate | 25.3% | 27.7% | 31.2% |
| Vacancy Rate | 5.2% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Lutz has a homeownership rate of 69.5%, higher than the Florida average of 57.7%. Its housing vacancy rate is 5.2%, compared with 14.6% in Florida.
Housing Stock
| Metric | Lutz | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.78 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1992 | 1988 | 1978 |
| Median Number of Rooms | 6.7 | 5.2 | 5.5 |
The typical housing unit in Lutz was built around 1992. On average, 2.8 people live in a home with about 6.7 rooms, staying for about 13.0 years on average.
Lutz, FL Housing Compared With Nearby Cities
How Lutz, FL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lutz, FL | 32,806 | $345,444 #2/3 | $1,729 #1/3 | 73.3% #1/3 |
| Lake Magdalene, FL | 31,109 | $453,210 | $1,432 | 72.2% |
| University, FL | 45,630 | $84,232 | $1,298 | 13.4% |
Frequently Asked Questions
Common questions about the housing market in Lutz, Florida.
What is the median home price in Lutz, Florida?
The median home price in Lutz, Florida is $345,444, higher than the Florida average of $311,338.
What is the average home price in Lutz, Florida?
The typical home price in Lutz, Florida, reported as the median sale price, is $345,444. 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 Lutz, Florida?
The median gross rent in Lutz, Florida is $1,729 per month, higher than the Florida average of $1,668.
What was the median gross rent in Lutz in 2020?
In 2020, the median gross rent in Lutz, Florida was $1,204 per month.
What is the price-to-rent ratio in Lutz, Florida?
The price-to-rent ratio in Lutz, Florida is about 16.7, meaning it would take roughly 16.7 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 Lutz.
Are home prices or rent rising faster in Lutz, Florida?
Both home prices and rent are rising in Lutz, up about 12.1% and 7.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lutz, Florida?
69.5% of households in Lutz, Florida own their home, higher than the Florida average of 57.7%.
What is the vacancy rate in Lutz, Florida?
The housing vacancy rate in Lutz, Florida is 5.2%, lower than the Florida average of 14.6%.
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