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 | Pinellas County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $293,950 | $293,727 | $242,182 |
| Price Trend (Annual %) | 16.5% | 12.0% | 8.2% |
| Median Gross Rent | $1,524 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pinellas County is about the same as in Florida. Rent is about 2% lower 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 Pinellas County, up about 16.5% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Pinellas County rose about 60.2% between 2015 and 2023, from $952 to $1,524. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Pinellas County.
Buying the median-priced home in Pinellas County costs roughly 16.1 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 Pinellas County. The price-to-rent ratio in Florida is about 15.7.
| Metric | Pinellas County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $293,950 | $293,727 | $242,182 |
| Median Household Income | $70,519 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pinellas County rose about 219.7%, while median household income rose about 56.7% 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 | Pinellas County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.7% | 57.1% | 58.2% |
| Rental Rate | 25.0% | 27.7% | 31.3% |
| Vacancy Rate | 18.2% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Pinellas County has a homeownership rate of 56.7%, about the same as the Florida average of 57.1%. Its housing vacancy rate is 18.2%, compared with 15.2% in Florida.
Housing Stock
| Metric | Pinellas County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1976 | 1987 | 1978 |
| Median Number of Rooms | 4.9 | 5.2 | 5.5 |
The typical housing unit in Pinellas County was built around 1976. On average, 2.2 people live in a home with about 4.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pinellas County, Florida.
What is the median home price in Pinellas County, Florida?
The median home price in Pinellas County, Florida is $293,950, about the same as the Florida average.
What is the average home price in Pinellas 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 Pinellas County, Florida?
The median gross rent in Pinellas County, Florida is $1,524 per month, lower than the Florida average of $1,564.
What was the median gross rent in Pinellas County in 2020?
In 2020, the median gross rent in Pinellas County, Florida was $1,164 per month.
What is the price-to-rent ratio in Pinellas County, Florida?
The price-to-rent ratio in Pinellas County, Florida is about 16.1, meaning it would take roughly 16.1 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 Pinellas County.
Are home prices or rent rising faster in Pinellas County, Florida?
Both home prices and rent are rising in Pinellas County, up about 16.5% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pinellas County, Florida?
56.7% of households in Pinellas County, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Pinellas County, Florida?
The housing vacancy rate in Pinellas County, Florida is 18.2%, higher than the Florida average of 15.2%.