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 | Putnam County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $115,808 | $293,727 | $242,182 |
| Price Trend (Annual %) | 9.9% | 12.0% | 8.2% |
| Median Gross Rent | $902 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Putnam County is about 61% lower than in Florida. Rent is about 42% 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 Putnam County, up about 9.9% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Putnam County rose about 35.8% between 2015 and 2023, from $664 to $902. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Putnam County.
Buying the median-priced home in Putnam County costs roughly 10.7 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 Putnam County. The price-to-rent ratio in Florida is about 15.7.
| Metric | Putnam County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $115,808 | $293,727 | $242,182 |
| Median Household Income | $47,051 | $71,865 | $78,145 |
| Price-to-Income Ratio | 2.5 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Putnam County rose about 73.7%, while median household income rose about 39.0% 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 | Putnam County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.8% | 57.1% | 58.2% |
| Rental Rate | 22.9% | 27.7% | 31.3% |
| Vacancy Rate | 16.3% | 15.2% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Putnam County has a homeownership rate of 60.8%, higher than the Florida average of 57.1%. Its housing vacancy rate is 16.3%, compared with 15.2% in Florida.
Housing Stock
| Metric | Putnam County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1983 | 1987 | 1978 |
| Median Number of Rooms | 5.7 | 5.2 | 5.5 |
The typical housing unit in Putnam County was built around 1983. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Putnam County, Florida.
What is the median home price in Putnam County, Florida?
The median home price in Putnam County, Florida is $115,808, lower than the Florida average of $293,727.
What is the average home price in Putnam 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 Putnam County, Florida?
The median gross rent in Putnam County, Florida is $902 per month, lower than the Florida average of $1,564.
What was the median gross rent in Putnam County in 2020?
In 2020, the median gross rent in Putnam County, Florida was $741 per month.
What is the price-to-rent ratio in Putnam County, Florida?
The price-to-rent ratio in Putnam County, Florida is about 10.7, meaning it would take roughly 10.7 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 Putnam County.
Are home prices or rent rising faster in Putnam County, Florida?
Both home prices and rent are rising in Putnam County, up about 9.9% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Putnam County, Florida?
60.8% of households in Putnam County, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Putnam County, Florida?
The housing vacancy rate in Putnam County, Florida is 16.3%, higher than the Florida average of 15.2%.