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 | Meadow Woods | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $332,263 | $293,727 | $242,182 |
| Price Trend (Annual %) | 7.4% | 12.0% | 8.2% |
| Median Gross Rent | $1,856 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Meadow Woods is about 13% higher than in Florida. Rent is about 19% 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 Meadow Woods, up about 7.4% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Meadow Woods rose about 54.5% between 2015 and 2023, from $1,201 to $1,856. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Meadow Woods.
Buying the median-priced home in Meadow Woods costs roughly 14.9 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 Meadow Woods. The price-to-rent ratio in Florida is about 15.7.
| Metric | Meadow Woods | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $332,263 | $293,727 | $242,182 |
| Median Household Income | $79,854 | $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 Meadow Woods rose about 145.0%, while median household income rose about 68.6% 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 | Meadow Woods | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.9% | 57.1% | 58.2% |
| Rental Rate | 22.7% | 27.7% | 31.3% |
| Vacancy Rate | 16.5% | 15.2% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Meadow Woods has a homeownership rate of 60.9%, higher than the Florida average of 57.1%. Its housing vacancy rate is 16.5%, compared with 15.2% in Florida.
Housing Stock
| Metric | Meadow Woods | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.14 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 2003 | 1987 | 1978 |
| Median Number of Rooms | 6.0 | 5.2 | 5.5 |
The typical housing unit in Meadow Woods was built around 2003. On average, 3.1 people live in a home with about 6.0 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Meadow Woods, Florida.
What is the median home price in Meadow Woods, Florida?
The median home price in Meadow Woods, Florida is $332,263, higher than the Florida average of $293,727.
What is the average home price in Meadow Woods, 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 Meadow Woods, Florida?
The median gross rent in Meadow Woods, Florida is $1,856 per month, higher than the Florida average of $1,564.
What was the median gross rent in Meadow Woods in 2020?
In 2020, the median gross rent in Meadow Woods, Florida was $1,532 per month.
What is the price-to-rent ratio in Meadow Woods, Florida?
The price-to-rent ratio in Meadow Woods, Florida is about 14.9, meaning it would take roughly 14.9 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 Meadow Woods.
Are home prices or rent rising faster in Meadow Woods, Florida?
Both home prices and rent are rising in Meadow Woods, up about 7.4% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Meadow Woods, Florida?
60.9% of households in Meadow Woods, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Meadow Woods, Florida?
The housing vacancy rate in Meadow Woods, Florida is 16.5%, higher than the Florida average of 15.2%.