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 | Tavernier | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $389,400 | $293,727 | $242,182 |
| Price Trend (Annual %) | -2.6% | 12.0% | 8.2% |
| Median Gross Rent | $1,879 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 7.1% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tavernier is about 33% higher than in Florida. Rent is about 20% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Tavernier: home prices fell about 2.6% a year while rent rose about 7.1% a year. That is an unusual pattern worth watching.
Median rent in Tavernier rose about 54.6% between 2015 and 2023, from $1,215 to $1,879. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 7.3 yearly household incomes in Tavernier.
Buying the median-priced home in Tavernier costs roughly 17.3 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 Tavernier. The price-to-rent ratio in Florida is about 15.7.
| Metric | Tavernier | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $389,400 | $293,727 | $242,182 |
| Median Household Income | $53,346 | $71,865 | $78,145 |
| Price-to-Income Ratio | 7.3 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Tavernier fell about 13.7%, while median household income rose about 0.3% 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 | Tavernier | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.5% | 57.1% | 58.2% |
| Rental Rate | 11.0% | 27.7% | 31.3% |
| Vacancy Rate | 46.5% | 15.2% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Tavernier has a homeownership rate of 42.5%, lower than the Florida average of 57.1%. Its housing vacancy rate is 46.5%, compared with 15.2% in Florida.
Housing Stock
| Metric | Tavernier | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1988 | 1987 | 1978 |
| Median Number of Rooms | 4.2 | 5.2 | 5.5 |
The typical housing unit in Tavernier was built around 1988. On average, 2.2 people live in a home with about 4.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tavernier, Florida.
What is the median home price in Tavernier, Florida?
The median home price in Tavernier, Florida is $389,400, higher than the Florida average of $293,727.
What is the average home price in Tavernier, 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 Tavernier, Florida?
The median gross rent in Tavernier, Florida is $1,879 per month, higher than the Florida average of $1,564.
What was the median gross rent in Tavernier in 2020?
In 2020, the median gross rent in Tavernier, Florida was $1,635 per month.
What is the price-to-rent ratio in Tavernier, Florida?
The price-to-rent ratio in Tavernier, Florida is about 17.3, meaning it would take roughly 17.3 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 Tavernier.
Are home prices or rent rising faster in Tavernier, Florida?
Home prices and rent are moving in opposite directions in Tavernier: home prices fell about 2.6% a year while rent rose about 7.1% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Tavernier, Florida?
42.5% of households in Tavernier, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Tavernier, Florida?
The housing vacancy rate in Tavernier, Florida is 46.5%, higher than the Florida average of 15.2%.