Pensacola, Florida Housing Market Prices
Pensacola 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 19% below the Florida median$251,012
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Median rent 22% below the Florida median$1,307
Housing Market Overview
| Metric | Pensacola | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,012 | $311,338 | $248,835 |
| Price Trend (Annual %) | 16.6% | 11.2% | 7.5% |
| Median Gross Rent | $1,307 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pensacola is about 19% lower than in Florida. Rent is about 22% 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 Pensacola, up about 16.6% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Pensacola rose about 55.4% between 2015 and 2024, from $841 to $1,307. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Pensacola.
Buying the median-priced home in Pensacola costs roughly 16.0 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 Pensacola. The price-to-rent ratio in Florida is about 15.6.
| Metric | Pensacola | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,012 | $311,338 | $248,835 |
| Median Household Income | $71,863 | $74,580 | $80,455 |
| Price-to-Income Ratio | 3.5 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pensacola rose about 225.6%, while median household income rose about 58.4% 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 | Pensacola | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.9% | 57.7% | 58.5% |
| Rental Rate | 31.4% | 27.7% | 31.2% |
| Vacancy Rate | 11.7% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Pensacola has a homeownership rate of 56.9%, lower than the Florida average of 57.7%. Its housing vacancy rate is 11.7%, compared with 14.6% in Florida.
Housing Stock
| Metric | Pensacola | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.10 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1972 | 1988 | 1978 |
| Median Number of Rooms | 5.4 | 5.2 | 5.5 |
The typical housing unit in Pensacola was built around 1972. On average, 2.1 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Pensacola, FL Housing Compared With Nearby Cities
Pensacola, FL is the largest of the 4 cities compared here, 53,225 residents against a local median of 21,878. Pensacola, FL's homeownership, at 64.5%, runs 29% above the 49.9% typical of the cities around it. That is the better end of the local range on this measure.
Median home price tells the same story from another angle: $251,012 against a local median of $209,515, 20% above it. The cities themselves sit within 6.9% of each other on homeownership, a tighter band than the gap between any of them and Pensacola, FL, which makes it a genuine outlier here rather than one end of a wide local spread. Pensacola, FL has the highest homeownership of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pensacola, FL | 53,225 | $251,012 #2/4 | $1,307 #2/4 | 64.5% #1/4 |
| Brent, FL | 21,878 | $209,515 | $1,175 | 55.8% |
| West Pensacola, FL | 20,455 | $200,616 | $1,150 | 48.9% |
| Ferry Pass, FL | 32,041 | $327,724 | $1,411 | 49.9% |
Frequently Asked Questions
Common questions about the housing market in Pensacola, Florida.
What is the median home price in Pensacola, Florida?
The median home price in Pensacola, Florida is $251,012, lower than the Florida average of $311,338.
What is the average home price in Pensacola, Florida?
The typical home price in Pensacola, Florida, reported as the median sale price, is $251,012. 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 Pensacola, Florida?
The median gross rent in Pensacola, Florida is $1,307 per month, lower than the Florida average of $1,668.
What was the median gross rent in Pensacola in 2020?
In 2020, the median gross rent in Pensacola, Florida was $981 per month.
What is the price-to-rent ratio in Pensacola, Florida?
The price-to-rent ratio in Pensacola, Florida is about 16.0, meaning it would take roughly 16.0 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 Pensacola.
Are home prices or rent rising faster in Pensacola, Florida?
Both home prices and rent are rising in Pensacola, up about 16.6% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pensacola, Florida?
56.9% of households in Pensacola, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Pensacola, Florida?
The housing vacancy rate in Pensacola, Florida is 11.7%, lower than the Florida average of 14.6%.
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