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 | Valrico | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $209,373 | $293,727 | $242,182 |
| Price Trend (Annual %) | 30.4% | 12.0% | 8.2% |
| Median Gross Rent | $1,681 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Valrico is about 29% lower than in Florida. Rent is about 7% 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 Valrico, up about 30.4% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Valrico rose about 40.9% between 2015 and 2023, from $1,192 to $1,681. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Valrico.
Buying the median-priced home in Valrico costs roughly 10.4 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 Valrico. The price-to-rent ratio in Florida is about 15.7.
| Metric | Valrico | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $209,373 | $293,727 | $242,182 |
| Median Household Income | $97,798 | $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 Valrico rose about 213.9%, while median household income rose about 29.4% 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 | Valrico | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.4% | 57.1% | 58.2% |
| Rental Rate | 18.6% | 27.7% | 31.3% |
| Vacancy Rate | 6.0% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Valrico has a homeownership rate of 75.4%, higher than the Florida average of 57.1%. Its housing vacancy rate is 6.0%, compared with 15.2% in Florida.
Housing Stock
| Metric | Valrico | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1994 | 1987 | 1978 |
| Median Number of Rooms | 6.6 | 5.2 | 5.5 |
The typical housing unit in Valrico was built around 1994. On average, 2.7 people live in a home with about 6.6 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Valrico, Florida.
What is the median home price in Valrico, Florida?
The median home price in Valrico, Florida is $209,373, lower than the Florida average of $293,727.
What is the average home price in Valrico, 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 Valrico, Florida?
The median gross rent in Valrico, Florida is $1,681 per month, higher than the Florida average of $1,564.
What was the median gross rent in Valrico in 2020?
In 2020, the median gross rent in Valrico, Florida was $1,312 per month.
What is the price-to-rent ratio in Valrico, Florida?
The price-to-rent ratio in Valrico, Florida is about 10.4, meaning it would take roughly 10.4 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 Valrico.
Are home prices or rent rising faster in Valrico, Florida?
Both home prices and rent are rising in Valrico, up about 30.4% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Valrico, Florida?
75.4% of households in Valrico, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Valrico, Florida?
The housing vacancy rate in Valrico, Florida is 6.0%, lower than the Florida average of 15.2%.