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.
Housing Market Overview
| Metric | Pinellas Park | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,690 | $293,727 | $242,182 |
| Price Trend (Annual %) | 18.0% | 12.0% | 8.2% |
| Median Gross Rent | $1,494 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pinellas Park is about 24% lower than in Florida. Rent is about 4% 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 Park, up about 18.0% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Pinellas Park rose about 58.6% between 2015 and 2023, from $942 to $1,494. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Pinellas Park.
Buying the median-priced home in Pinellas Park costs roughly 12.5 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 Pinellas Park. The price-to-rent ratio in Florida is about 15.7.
| Metric | Pinellas Park | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,690 | $293,727 | $242,182 |
| Median Household Income | $63,290 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.5 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pinellas Park rose about 262.0%, while median household income rose about 46.4% 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 Park | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.9% | 57.1% | 58.2% |
| Rental Rate | 26.2% | 27.7% | 31.3% |
| Vacancy Rate | 12.9% | 15.2% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Pinellas Park has a homeownership rate of 60.9%, higher than the Florida average of 57.1%. Its housing vacancy rate is 12.9%, compared with 15.2% in Florida.
Housing Stock
| Metric | Pinellas Park | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1978 | 1987 | 1978 |
| Median Number of Rooms | 4.9 | 5.2 | 5.5 |
The typical housing unit in Pinellas Park was built around 1978. On average, 2.4 people live in a home with about 4.9 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pinellas Park, Florida.
What is the median home price in Pinellas Park, Florida?
The median home price in Pinellas Park, Florida is $223,690, lower than the Florida average of $293,727.
What is the average home price in Pinellas Park, 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 Park, Florida?
The median gross rent in Pinellas Park, Florida is $1,494 per month, lower than the Florida average of $1,564.
What was the median gross rent in Pinellas Park in 2020?
In 2020, the median gross rent in Pinellas Park, Florida was $1,127 per month.
What is the price-to-rent ratio in Pinellas Park, Florida?
The price-to-rent ratio in Pinellas Park, Florida is about 12.5, meaning it would take roughly 12.5 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 Pinellas Park.
Are home prices or rent rising faster in Pinellas Park, Florida?
Both home prices and rent are rising in Pinellas Park, up about 18.0% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pinellas Park, Florida?
60.9% of households in Pinellas Park, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Pinellas Park, Florida?
The housing vacancy rate in Pinellas Park, Florida is 12.9%, lower than the Florida average of 15.2%.