Big Pine Key, Florida Real Estate & Housing Market

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Big Pine Key Housing Information

Index	Big Pine Key	Florida	National
Median home price	$342,000	$166,800	$184,700
Median rent asked	$1,370	$1,032	$949
Avg. people per household	2.4	2.6	2.6
Owner occupied households	74.4%	64.8%	63.6%
Renter occupied households	25.6%	35.2%	36.4%

A general summary of the real estate market in Big Pine Key, FL is listed above. Properties in Big Pine Key, FL average a cost of $342,000, which is 105% higher than the median home price for real estate located in Florida. This means that the region of Big Pine Key, FL is, on average, less affordable when compared to the remainder of Florida. Since tenants living in Big Pine Key, FL will pay an average of $1,370, the median rental cost is 33% higher than in Florida. 74.4% of people in Big Pine Key, FL own their own homes, and an average of 2.4 people inhabit each property. Big Pine Key, FL has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

Big Pine Key Home Affordability

When starting your search for real estate in Big Pine Key, FL, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in Big Pine Key, FL costs $342,000 while each household has an average income of $59,500. Consequently, the ratio of home price to household income is 5.7x; this ratio is 69% higher than the average in Florida. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in Big Pine Key, FL. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in Big Pine Key, FL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Cudjoe Key, FL	1,812	$378,300	105%
Big Pine Key, FL	4,902	$342,000	85%

Cities with similar population

City, State	Population	Home Price	National Avg.
Brent, AL	4,902	$103,300	44%
Eagleton Village, TN	4,902	$110,200	40%
Cochran, GA	4,901	$81,000	56%
Travelers Rest, SC	4,903	$155,800	16%
Edenton, NC	4,900	$111,500	40%
Big Pine Key, FL	4,902	$342,000	85%

Source: The Big Pine Key, FL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).