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 | Ocoee | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,066,283 | $293,727 | $242,182 |
| Price Trend (Annual %) | 47.6% | 12.0% | 8.2% |
| Median Gross Rent | $1,722 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ocoee is about 263% higher than in Florida. Rent is about 10% 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 Ocoee, up about 47.6% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Ocoee rose about 53.9% between 2015 and 2023, from $1,119 to $1,722. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 12.3 yearly household incomes in Ocoee.
Buying the median-priced home in Ocoee costs roughly 51.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Ocoee. The price-to-rent ratio in Florida is about 15.7.
| Metric | Ocoee | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,066,283 | $293,727 | $242,182 |
| Median Household Income | $87,037 | $71,865 | $78,145 |
| Price-to-Income Ratio | 12.3 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ocoee rose about 402.7%, while median household income rose about 47.1% 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 | Ocoee | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.5% | 57.1% | 58.2% |
| Rental Rate | 22.6% | 27.7% | 31.3% |
| Vacancy Rate | 3.9% | 15.2% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Ocoee has a homeownership rate of 73.5%, higher than the Florida average of 57.1%. Its housing vacancy rate is 3.9%, compared with 15.2% in Florida.
Housing Stock
| Metric | Ocoee | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.18 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1998 | 1987 | 1978 |
| Median Number of Rooms | 6.1 | 5.2 | 5.5 |
The typical housing unit in Ocoee was built around 1998. On average, 3.2 people live in a home with about 6.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ocoee, Florida.
What is the median home price in Ocoee, Florida?
The median home price in Ocoee, Florida is $1,066,283, higher than the Florida average of $293,727.
What is the average home price in Ocoee, 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 Ocoee, Florida?
The median gross rent in Ocoee, Florida is $1,722 per month, higher than the Florida average of $1,564.
What was the median gross rent in Ocoee in 2020?
In 2020, the median gross rent in Ocoee, Florida was $1,302 per month.
What is the price-to-rent ratio in Ocoee, Florida?
The price-to-rent ratio in Ocoee, Florida is about 51.6, meaning it would take roughly 51.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Ocoee.
Are home prices or rent rising faster in Ocoee, Florida?
Both home prices and rent are rising in Ocoee, up about 47.6% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ocoee, Florida?
73.5% of households in Ocoee, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Ocoee, Florida?
The housing vacancy rate in Ocoee, Florida is 3.9%, lower than the Florida average of 15.2%.