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 | Tarpon Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,522 | $293,727 | $242,182 |
| Price Trend (Annual %) | 9.2% | 12.0% | 8.2% |
| Median Gross Rent | $1,287 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tarpon Springs is about 51% lower than in Florida. Rent is about 18% 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 Tarpon Springs, up about 9.2% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Tarpon Springs rose about 54.7% between 2015 and 2023, from $832 to $1,287. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Tarpon Springs.
Buying the median-priced home in Tarpon Springs costs roughly 9.4 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 Tarpon Springs. The price-to-rent ratio in Florida is about 15.7.
| Metric | Tarpon Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,522 | $293,727 | $242,182 |
| Median Household Income | $69,309 | $71,865 | $78,145 |
| Price-to-Income Ratio | 2.1 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Tarpon Springs fell about 52.8%, while median household income rose about 50.5% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Tarpon Springs | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.7% | 57.1% | 58.2% |
| Rental Rate | 16.5% | 27.7% | 31.3% |
| Vacancy Rate | 12.7% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Tarpon Springs has a homeownership rate of 70.7%, higher than the Florida average of 57.1%. Its housing vacancy rate is 12.7%, compared with 15.2% in Florida.
Housing Stock
| Metric | Tarpon Springs | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.15 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1983 | 1987 | 1978 |
| Median Number of Rooms | 5.1 | 5.2 | 5.5 |
The typical housing unit in Tarpon Springs was built around 1983. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tarpon Springs, Florida.
What is the median home price in Tarpon Springs, Florida?
The median home price in Tarpon Springs, Florida is $144,522, lower than the Florida average of $293,727.
What is the average home price in Tarpon Springs, 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 Tarpon Springs, Florida?
The median gross rent in Tarpon Springs, Florida is $1,287 per month, lower than the Florida average of $1,564.
What was the median gross rent in Tarpon Springs in 2020?
In 2020, the median gross rent in Tarpon Springs, Florida was $958 per month.
What is the price-to-rent ratio in Tarpon Springs, Florida?
The price-to-rent ratio in Tarpon Springs, Florida is about 9.4, meaning it would take roughly 9.4 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 Tarpon Springs.
Are home prices or rent rising faster in Tarpon Springs, Florida?
Both home prices and rent are rising in Tarpon Springs, up about 9.2% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Tarpon Springs, Florida?
70.7% of households in Tarpon Springs, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Tarpon Springs, Florida?
The housing vacancy rate in Tarpon Springs, Florida is 12.7%, lower than the Florida average of 15.2%.