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 | Winter Park | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $703,088 | $293,727 | $242,182 |
| Price Trend (Annual %) | 17.3% | 12.0% | 8.2% |
| Median Gross Rent | $1,584 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Winter Park is about 139% higher than in Florida. Rent is about 1% 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 Winter Park, up about 17.3% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Winter Park rose about 60.2% between 2015 and 2023, from $989 to $1,584. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Winter Park.
Buying the median-priced home in Winter Park costs roughly 37.0 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 Winter Park. The price-to-rent ratio in Florida is about 15.7.
| Metric | Winter Park | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $703,088 | $293,727 | $242,182 |
| Median Household Income | $92,523 | $71,865 | $78,145 |
| Price-to-Income Ratio | 7.6 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Winter Park rose about 209.9%, while median household income rose about 64.2% 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 | Winter Park | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.2% | 57.1% | 58.2% |
| Rental Rate | 34.0% | 27.7% | 31.3% |
| Vacancy Rate | 8.8% | 15.2% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Winter Park has a homeownership rate of 57.2%, about the same as the Florida average of 57.1%. Its housing vacancy rate is 8.8%, compared with 15.2% in Florida.
Housing Stock
| Metric | Winter Park | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1975 | 1987 | 1978 |
| Median Number of Rooms | 5.7 | 5.2 | 5.5 |
The typical housing unit in Winter Park was built around 1975. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Winter Park, Florida.
What is the median home price in Winter Park, Florida?
The median home price in Winter Park, Florida is $703,088, higher than the Florida average of $293,727.
What is the average home price in Winter Park, 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 Winter Park, Florida?
The median gross rent in Winter Park, Florida is $1,584 per month, higher than the Florida average of $1,564.
What was the median gross rent in Winter Park in 2020?
In 2020, the median gross rent in Winter Park, Florida was $1,318 per month.
What is the price-to-rent ratio in Winter Park, Florida?
The price-to-rent ratio in Winter Park, Florida is about 37.0, meaning it would take roughly 37.0 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 Winter Park.
Are home prices or rent rising faster in Winter Park, Florida?
Both home prices and rent are rising in Winter Park, up about 17.3% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Winter Park, Florida?
57.2% of households in Winter Park, Florida own their home, about the same as the Florida average.
What is the vacancy rate in Winter Park, Florida?
The housing vacancy rate in Winter Park, Florida is 8.8%, lower than the Florida average of 15.2%.