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 Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $400,468 | $293,727 | $242,182 |
| Price Trend (Annual %) | 23.6% | 12.0% | 8.2% |
| Median Gross Rent | $1,714 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 7.2% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Winter Springs is about 36% higher than in Florida. Rent is about 10% 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 Springs, up about 23.6% and 7.2% a year respectively. Home prices are changing faster.
Median rent in Winter Springs rose about 67.7% between 2015 and 2023, from $1,022 to $1,714. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Winter Springs.
Buying the median-priced home in Winter Springs costs roughly 19.5 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 Winter Springs. The price-to-rent ratio in Florida is about 15.7.
| Metric | Winter Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $400,468 | $293,727 | $242,182 |
| Median Household Income | $85,055 | $71,865 | $78,145 |
| Price-to-Income Ratio | 4.7 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Winter Springs rose about 284.0%, while median household income rose about 34.4% 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 | Winter Springs | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.0% | 57.1% | 58.2% |
| Rental Rate | 23.3% | 27.7% | 31.3% |
| Vacancy Rate | 4.8% | 15.2% | 10.6% |
| Median Tenure (years) | 17.0 | 13.0 | 15.0 |
| Median Year Moved In | 2009 | 2013 | 2011 |
Winter Springs has a homeownership rate of 72.0%, higher than the Florida average of 57.1%. Its housing vacancy rate is 4.8%, compared with 15.2% in Florida.
Housing Stock
| Metric | Winter Springs | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1990 | 1987 | 1978 |
| Median Number of Rooms | 5.8 | 5.2 | 5.5 |
The typical housing unit in Winter Springs was built around 1990. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Winter Springs, Florida.
What is the median home price in Winter Springs, Florida?
The median home price in Winter Springs, Florida is $400,468, higher than the Florida average of $293,727.
What is the average home price in Winter Springs, 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 Springs, Florida?
The median gross rent in Winter Springs, Florida is $1,714 per month, higher than the Florida average of $1,564.
What was the median gross rent in Winter Springs in 2020?
In 2020, the median gross rent in Winter Springs, Florida was $1,317 per month.
What is the price-to-rent ratio in Winter Springs, Florida?
The price-to-rent ratio in Winter Springs, Florida is about 19.5, meaning it would take roughly 19.5 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 Winter Springs.
Are home prices or rent rising faster in Winter Springs, Florida?
Both home prices and rent are rising in Winter Springs, up about 23.6% and 7.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Winter Springs, Florida?
72.0% of households in Winter Springs, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Winter Springs, Florida?
The housing vacancy rate in Winter Springs, Florida is 4.8%, lower than the Florida average of 15.2%.