South Gate Ridge, Sarasota, FL—34233
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Gate Ridge, Sarasota, FL
As of Oct '25, the median home price in South Gate Ridge, Sarasota, FL is $362,000, with a year-over-year change of -11.0%. This indicates that home prices in South Gate Ridge, Sarasota, FL are decreasing. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $362,000 | -11.0% |
| Single Family | $421,000 | -10.0% |
| Condos | $234,000 | -14.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $161,000 | -15.3% |
2 Bed | $247,000 | -14.5% |
3 Bed | $406,000 | -10.2% |
4 Bed | $611,000 | -9.2% |
| 5 Bed | $708,000 | -9.2% |
% of Housing Stock
Rental Trends — South Gate Ridge, Sarasota, FL
As of July '25, Rentcast reports the average rent in South Gate Ridge, Sarasota, FL is $2,680, with a year-over-year rent change of -6.9%. Per bedroom, the median rent as of July '25 in South Gate Ridge, Sarasota, FL is studios: $1,560, 1-bedrooms: $1,680, 2-bedrooms: $2,100, 3-bedrooms: $2,850, 4-bedrooms: $3,730. The most common rental property sizes in South Gate Ridge, Sarasota, FL are 2-bedroom and 3-bedroom, accounting for 38.2% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,680 |
| Studio Rent | $1,560 | $1,560 |
| 1 Bed Rent | $1,720 | $1,680 |
| 2 Bed Rent | $1,950 | $2,100 |
| 3 Bed Rent | $2,500 | $2,850 |
| 4 Bed Rent | $3,450 | $3,730 |
% of Rental Stock
Property Listings — South Gate Ridge, Sarasota, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in South Gate Ridge, Sarasota, FL is 80. This is a increase of 15.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $333,000 | -12.0% |
Listing Count | 116 | -3.0% |
| Listings as % of Homes | 0.9% | -3.0% |
Days on Market | 80 | 15.0% |
Demographics — South Gate Ridge, Sarasota, FL
As of the latest ACS Survey released in 2023, South Gate Ridge, Sarasota, FL has a population of 18,900, which has increased by 4.9% over the past 5 years. South Gate Ridge, Sarasota, FL is a moderately popular place for families, as children make up 17.2% of the population. The area has a moderately educated workforce, with 41.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,900 | 4.9% |
% Under 18 | 17.2% | -7.0% |
% Seniors | 30.6% | -3.2% |
% WFH | 12.3% | 50.0% |
% w/ College Degree | 41.1% | 4.3% |
As of the latest ACS Survey released in 2023, South Gate Ridge, Sarasota, FL is a predominantly white area, with 78.2% of the population identifying as white. The white population has shrunk by 9.9% in the last 5 years. The second most common race or ethnicity in South Gate Ridge, Sarasota, FL is hispanic, making up 11.2% of the population. Foreign-born residents account for 15.2% of the population in South Gate Ridge, Sarasota, FL, and this percentage has increased by 15.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.2% | -9.9% |
% Black | 2.1% | 90.9% |
% Hispanic | 11.2% | 12.0% |
% Asian | 3.6% | 157.1% |
% Foreign Born | 15.2% | 15.2% |
Mortgage and Risk — South Gate Ridge, Sarasota, FL
According to HUD data as of 2023, there were 365 mortgage originations in South Gate Ridge, Sarasota, FL, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in South Gate Ridge, Sarasota, FL. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 365 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — South Gate Ridge, Sarasota, FL
As of 2024, the percent of homes in South Gate Ridge, Sarasota, FL under the Section 8 program is 0.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in South Gate Ridge, Sarasota, FL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 14 |
Total Units Section 8 | 14 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,720 | $1,810 |
| 2 Bedroom | $170 | $1,950 | $2,120 |
| 3 Bedroom | $280 | $2,500 | $2,780 |
| 4 Bedroom | -$120 | $3,450 | $3,330 |
Affordability — South Gate Ridge, Sarasota, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $362,000 |
| Median Household Income | $77,000 |