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 | Orange County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $310,314 | $293,727 | $242,182 |
| Price Trend (Annual %) | 11.6% | 12.0% | 8.2% |
| Median Gross Rent | $1,675 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Orange County is about 6% higher than in Florida. Rent is about 7% 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 Orange County, up about 11.6% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Orange County rose about 62.2% between 2015 and 2023, from $1,033 to $1,675. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Orange County.
Buying the median-priced home in Orange County costs roughly 15.4 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 Orange County. The price-to-rent ratio in Florida is about 15.7.
| Metric | Orange County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $310,314 | $293,727 | $242,182 |
| Median Household Income | $77,244 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.0 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Orange County rose about 125.1%, while median household income rose about 53.3% 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 | Orange County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.7% | 57.1% | 58.2% |
| Rental Rate | 37.6% | 27.7% | 31.3% |
| Vacancy Rate | 11.7% | 15.2% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Orange County has a homeownership rate of 50.7%, lower than the Florida average of 57.1%. Its housing vacancy rate is 11.7%, compared with 15.2% in Florida.
Housing Stock
| Metric | Orange County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1990 | 1987 | 1978 |
| Median Number of Rooms | 5.4 | 5.2 | 5.5 |
The typical housing unit in Orange County was built around 1990. On average, 2.8 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Orange County, Florida.
What is the median home price in Orange County, Florida?
The median home price in Orange County, Florida is $310,314, higher than the Florida average of $293,727.
What is the average home price in Orange 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 Orange County, Florida?
The median gross rent in Orange County, Florida is $1,675 per month, higher than the Florida average of $1,564.
What was the median gross rent in Orange County in 2020?
In 2020, the median gross rent in Orange County, Florida was $1,284 per month.
What is the price-to-rent ratio in Orange County, Florida?
The price-to-rent ratio in Orange County, Florida is about 15.4, meaning it would take roughly 15.4 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 Orange County.
Are home prices or rent rising faster in Orange County, Florida?
Both home prices and rent are rising in Orange County, up about 11.6% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Orange County, Florida?
50.7% of households in Orange County, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Orange County, Florida?
The housing vacancy rate in Orange County, Florida is 11.7%, lower than the Florida average of 15.2%.