Palm River-Clair Mel, Florida Housing Market Prices
Palm River-Clair Mel 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 12% below the Florida median$273,962
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Median rent 7% below the Florida median$1,549
Housing Market Overview
| Metric | Palm River-Clair Mel | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $273,962 | $311,338 | $248,835 |
| Price Trend (Annual %) | 12.7% | 11.2% | 7.5% |
| Median Gross Rent | $1,549 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 6.7% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Palm River-Clair Mel is about 12% lower than in Florida. Rent is about 7% 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 Palm River-Clair Mel, up about 12.7% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Palm River-Clair Mel rose about 67.2% between 2015 and 2024, from $926 to $1,549. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Palm River-Clair Mel.
Buying the median-priced home in Palm River-Clair Mel costs roughly 14.7 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 Palm River-Clair Mel. The price-to-rent ratio in Florida is about 15.6.
| Metric | Palm River-Clair Mel | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $273,962 | $311,338 | $248,835 |
| Median Household Income | $71,615 | $74,580 | $80,455 |
| Price-to-Income Ratio | 3.8 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Palm River-Clair Mel rose about 212.7%, while median household income rose about 42.1% 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 | Palm River-Clair Mel | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.0% | 57.7% | 58.5% |
| Rental Rate | 36.6% | 27.7% | 31.2% |
| Vacancy Rate | 6.4% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Palm River-Clair Mel has a homeownership rate of 57.0%, lower than the Florida average of 57.7%. Its housing vacancy rate is 6.4%, compared with 14.6% in Florida.
Housing Stock
| Metric | Palm River-Clair Mel | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.77 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1992 | 1988 | 1978 |
| Median Number of Rooms | 5.3 | 5.2 | 5.5 |
The typical housing unit in Palm River-Clair Mel was built around 1992. On average, 2.8 people live in a home with about 5.3 rooms, staying for about 13.0 years on average.
Palm River-Clair Mel, FL Housing Compared With Nearby Cities
How Palm River-Clair Mel, FL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Palm River-Clair Mel, FL | 26,532 | $273,962 #2/2 | $1,549 #2/2 | 60.9% #1/2 |
| Brandon, FL | 119,418 | $305,812 | $1,783 | 56.2% |
Frequently Asked Questions
Common questions about the housing market in Palm River-Clair Mel, Florida.
What is the median home price in Palm River-Clair Mel, Florida?
The median home price in Palm River-Clair Mel, Florida is $273,962, lower than the Florida average of $311,338.
What is the average home price in Palm River-Clair Mel, Florida?
The typical home price in Palm River-Clair Mel, Florida, reported as the median sale price, is $273,962. 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 Palm River-Clair Mel, Florida?
The median gross rent in Palm River-Clair Mel, Florida is $1,549 per month, lower than the Florida average of $1,668.
What was the median gross rent in Palm River-Clair Mel in 2020?
In 2020, the median gross rent in Palm River-Clair Mel, Florida was $1,031 per month.
What is the price-to-rent ratio in Palm River-Clair Mel, Florida?
The price-to-rent ratio in Palm River-Clair Mel, Florida is about 14.7, meaning it would take roughly 14.7 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 Palm River-Clair Mel.
Are home prices or rent rising faster in Palm River-Clair Mel, Florida?
Both home prices and rent are rising in Palm River-Clair Mel, up about 12.7% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Palm River-Clair Mel, Florida?
57.0% of households in Palm River-Clair Mel, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Palm River-Clair Mel, Florida?
The housing vacancy rate in Palm River-Clair Mel, Florida is 6.4%, lower than the Florida average of 14.6%.
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