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 | The Crossings | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,002 | $293,727 | $242,182 |
| Price Trend (Annual %) | 11.4% | 12.0% | 8.2% |
| Median Gross Rent | $1,878 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 2.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in The Crossings is about 19% higher than in Florida. Rent is about 20% higher 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 The Crossings, up about 11.4% and 2.8% a year respectively. Home prices are changing faster.
Median rent in The Crossings rose about 28.5% between 2015 and 2023, from $1,462 to $1,878. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in The Crossings.
Buying the median-priced home in The Crossings costs roughly 15.5 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 The Crossings. The price-to-rent ratio in Florida is about 15.7.
| Metric | The Crossings | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,002 | $293,727 | $242,182 |
| Median Household Income | $82,552 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in The Crossings rose about 29.4%, while median household income rose about 16.7% 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 | The Crossings | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.9% | 57.1% | 58.2% |
| Rental Rate | 24.0% | 27.7% | 31.3% |
| Vacancy Rate | 2.1% | 15.2% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
The Crossings has a homeownership rate of 73.9%, higher than the Florida average of 57.1%. Its housing vacancy rate is 2.1%, compared with 15.2% in Florida.
Housing Stock
| Metric | The Crossings | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1982 | 1987 | 1978 |
| Median Number of Rooms | 5.1 | 5.2 | 5.5 |
The typical housing unit in The Crossings was built around 1982. On average, 2.7 people live in a home with about 5.1 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in The Crossings, Florida.
What is the median home price in The Crossings, Florida?
The median home price in The Crossings, Florida is $350,002, higher than the Florida average of $293,727.
What is the average home price in The Crossings, 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 The Crossings, Florida?
The median gross rent in The Crossings, Florida is $1,878 per month, higher than the Florida average of $1,564.
What was the median gross rent in The Crossings in 2020?
In 2020, the median gross rent in The Crossings, Florida was $1,732 per month.
What is the price-to-rent ratio in The Crossings, Florida?
The price-to-rent ratio in The Crossings, Florida is about 15.5, meaning it would take roughly 15.5 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 The Crossings.
Are home prices or rent rising faster in The Crossings, Florida?
Both home prices and rent are rising in The Crossings, up about 11.4% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in The Crossings, Florida?
73.9% of households in The Crossings, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in The Crossings, Florida?
The housing vacancy rate in The Crossings, Florida is 2.1%, lower than the Florida average of 15.2%.