Temple Terrace, Florida Housing Market Prices
Temple Terrace Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 101% above the Florida median$624,772
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Median rent 5% below the Florida median$1,582
Housing Market Overview
| Metric | Temple Terrace | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,772 | $311,338 | $248,835 |
| Price Trend (Annual %) | 28.2% | 11.2% | 7.5% |
| Median Gross Rent | $1,582 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 6.3% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Temple Terrace is about 101% higher than in Florida. Rent is about 5% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Temple Terrace, up about 28.2% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Temple Terrace rose about 66.2% between 2015 and 2024, from $952 to $1,582. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 9.2 yearly household incomes in Temple Terrace.
Buying the median-priced home in Temple Terrace costs roughly 32.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Temple Terrace. The price-to-rent ratio in Florida is about 15.6.
| Metric | Temple Terrace | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,772 | $311,338 | $248,835 |
| Median Household Income | $67,591 | $74,580 | $80,455 |
| Price-to-Income Ratio | 9.2 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Temple Terrace rose about 319.0%, while median household income rose about 28.8% between 2009 and 2025 — 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 | Temple Terrace | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.1% | 57.7% | 58.5% |
| Rental Rate | 48.2% | 27.7% | 31.2% |
| Vacancy Rate | 5.7% | 14.6% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Temple Terrace has a homeownership rate of 46.1%, lower than the Florida average of 57.7%. Its housing vacancy rate is 5.7%, compared with 14.6% in Florida.
Housing Stock
| Metric | Temple Terrace | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1980 | 1988 | 1978 |
| Median Number of Rooms | 5.0 | 5.2 | 5.5 |
The typical housing unit in Temple Terrace was built around 1980. On average, 2.4 people live in a home with about 5.0 rooms, staying for about 11.0 years on average.
Temple Terrace, FL Housing Compared With Nearby Cities
How Temple Terrace, FL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Temple Terrace, FL | 28,116 | $624,772 #1/3 | $1,582 #1/3 | 48.9% #2/3 |
| University, FL | 45,630 | $84,232 | $1,298 | 13.4% |
| Lake Magdalene, FL | 31,109 | $453,210 | $1,432 | 72.2% |
Frequently Asked Questions
Common questions about the housing market in Temple Terrace, Florida.
What is the median home price in Temple Terrace, Florida?
The median home price in Temple Terrace, Florida is $624,772, higher than the Florida average of $311,338.
What is the average home price in Temple Terrace, Florida?
The typical home price in Temple Terrace, Florida, reported as the median sale price, is $624,772. 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 Temple Terrace, Florida?
The median gross rent in Temple Terrace, Florida is $1,582 per month, lower than the Florida average of $1,668.
What was the median gross rent in Temple Terrace in 2020?
In 2020, the median gross rent in Temple Terrace, Florida was $1,131 per month.
What is the price-to-rent ratio in Temple Terrace, Florida?
The price-to-rent ratio in Temple Terrace, Florida is about 32.9, meaning it would take roughly 32.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Temple Terrace.
Are home prices or rent rising faster in Temple Terrace, Florida?
Both home prices and rent are rising in Temple Terrace, up about 28.2% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Temple Terrace, Florida?
46.1% of households in Temple Terrace, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Temple Terrace, Florida?
The housing vacancy rate in Temple Terrace, Florida is 5.7%, lower than the Florida average of 14.6%.
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