Pace, Florida Housing Market Prices
Pace 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 17% above the Florida median$364,480
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Median rent 12% below the Florida median$1,461
Housing Market Overview
| Metric | Pace | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $364,480 | $311,338 | $248,835 |
| Price Trend (Annual %) | 16.7% | 11.2% | 7.5% |
| Median Gross Rent | $1,461 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pace is about 17% higher than in Florida. Rent is about 12% lower 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 Pace, up about 16.7% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Pace rose about 58.1% between 2015 and 2024, from $924 to $1,461. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Pace.
Buying the median-priced home in Pace costs roughly 20.8 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 Pace. The price-to-rent ratio in Florida is about 15.6.
| Metric | Pace | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $364,480 | $311,338 | $248,835 |
| Median Household Income | $83,843 | $74,580 | $80,455 |
| Price-to-Income Ratio | 4.3 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pace rose about 219.6%, while median household income rose about 32.6% 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 | Pace | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.0% | 57.7% | 58.5% |
| Rental Rate | 17.8% | 27.7% | 31.2% |
| Vacancy Rate | 5.2% | 14.6% | 10.2% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Pace has a homeownership rate of 77.0%, higher than the Florida average of 57.7%. Its housing vacancy rate is 5.2%, compared with 14.6% in Florida.
Housing Stock
| Metric | Pace | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.84 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1995 | 1988 | 1978 |
| Median Number of Rooms | 6.4 | 5.2 | 5.5 |
The typical housing unit in Pace was built around 1995. On average, 2.8 people live in a home with about 6.4 rooms, staying for about 12.0 years on average.
Pace, FL Housing Compared With Nearby Cities
How Pace, FL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pace, FL | 21,081 | $364,480 #1/2 | $1,461 #1/2 | 81.2% #1/2 |
| Ferry Pass, FL | 32,041 | $327,724 | $1,411 | 49.9% |
Frequently Asked Questions
Common questions about the housing market in Pace, Florida.
What is the median home price in Pace, Florida?
The median home price in Pace, Florida is $364,480, higher than the Florida average of $311,338.
What is the average home price in Pace, Florida?
The typical home price in Pace, Florida, reported as the median sale price, is $364,480. 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 Pace, Florida?
The median gross rent in Pace, Florida is $1,461 per month, lower than the Florida average of $1,668.
What was the median gross rent in Pace in 2020?
In 2020, the median gross rent in Pace, Florida was $1,114 per month.
What is the price-to-rent ratio in Pace, Florida?
The price-to-rent ratio in Pace, Florida is about 20.8, meaning it would take roughly 20.8 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 Pace.
Are home prices or rent rising faster in Pace, Florida?
Both home prices and rent are rising in Pace, up about 16.7% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pace, Florida?
77.0% of households in Pace, Florida own their home, higher than the Florida average of 57.7%.
What is the vacancy rate in Pace, Florida?
The housing vacancy rate in Pace, Florida is 5.2%, lower than the Florida average of 14.6%.
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