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 | Titusville | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,748 | $293,727 | $242,182 |
| Price Trend (Annual %) | 10.7% | 12.0% | 8.2% |
| Median Gross Rent | $1,226 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Titusville is about 23% lower than in Florida. Rent is about 22% 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 Titusville, up about 10.7% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Titusville rose about 50.8% between 2015 and 2023, from $813 to $1,226. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Titusville.
Buying the median-priced home in Titusville costs roughly 15.3 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 Titusville. The price-to-rent ratio in Florida is about 15.7.
| Metric | Titusville | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,748 | $293,727 | $242,182 |
| Median Household Income | $62,048 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.6 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Titusville rose about 184.3%, while median household income rose about 47.1% 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 | Titusville | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.0% | 57.1% | 58.2% |
| Rental Rate | 22.8% | 27.7% | 31.3% |
| Vacancy Rate | 18.1% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Titusville has a homeownership rate of 59.0%, higher than the Florida average of 57.1%. Its housing vacancy rate is 18.1%, compared with 15.2% in Florida.
Housing Stock
| Metric | Titusville | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1981 | 1987 | 1978 |
| Median Number of Rooms | 5.3 | 5.2 | 5.5 |
The typical housing unit in Titusville was built around 1981. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Titusville, Florida.
What is the median home price in Titusville, Florida?
The median home price in Titusville, Florida is $225,748, lower than the Florida average of $293,727.
What is the average home price in Titusville, 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 Titusville, Florida?
The median gross rent in Titusville, Florida is $1,226 per month, lower than the Florida average of $1,564.
What was the median gross rent in Titusville in 2020?
In 2020, the median gross rent in Titusville, Florida was $951 per month.
What is the price-to-rent ratio in Titusville, Florida?
The price-to-rent ratio in Titusville, Florida is about 15.3, meaning it would take roughly 15.3 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 Titusville.
Are home prices or rent rising faster in Titusville, Florida?
Both home prices and rent are rising in Titusville, up about 10.7% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Titusville, Florida?
59.0% of households in Titusville, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Titusville, Florida?
The housing vacancy rate in Titusville, Florida is 18.1%, higher than the Florida average of 15.2%.