2502 Morven Park Way, The Villages
Sumter County Real Estate - The Villages
The Villages is in East Central Florida. It's population as recorded in the 2010 Census was 51,442.
The median age for residents of The Villages is 68.7. Around .2% of The Villages households include school aged children and 79.6% of households include individuals aged 65 years or over. Census records indicate 98.1% of the The Villages population are White, .6% are Black or African American, .1% American Indian, .6% Asian and .2% are Two or more Races.
There are 35,587 housing units in The Villages. 6,946 (19.5%) of these were reported as vacant in the 2010 Census. The Villages is a tourist destination, 65.6% (4,559) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 2,162 residential rental units in The Villages. 889 of them were occupied in 2010 providing a residential rental vacancy rate of 54.4%.
The Villages links:
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Sumter County
Sumter County is located in East Central Florida, along with Brevard, Orange, Volusia, Seminole, Lake, and Osceola counties. Cities in Sumter County include Bushnell, Center Hill, Coleman, Webster, and Wildwood. The county is home to over 90,000.
The largest industries in Sumter County by employment are leisure & hospitality, trade & transportation, education & health services, and public administration. Sumter County major private employers are The Villages, T&D Concrete, Villages Regional Medical Center, Wal-Mart, and Sumter Electric Cooperative. Major public employers include Coleman Federal Prison, Sumter District Schools, Sumter Correctional Institute, Sumter County Government, and Lake Sumter Community College.
Known as "Hog County" for its large pig population, Sumter is historically a largely rural county. Sumter is number eighteen among Florida counties for number of cattle and calves. In the southern end of the county, near Webster, cucumbers, eggplants and peppers are grown for commercial sale. Near the unincorporated community of Oxford in the north, tomatoes and watermelons are the more popular crops.
The county is known to the Census Bureau as The Villages Micropolitan Statistical Area, named after the most populous census-designated place in Sumter County. The Villages is a large, planned retirement community that spans Sumter, Lake, and Marion Counties. The community in northeast Sumter County is home to over 50,000. In addition to the retirees, The Villages also contains subdivisions for workers and their families that includes a charter school. Over 95% of residents are white caucasians.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 2496 Morven Park Way | Single Family | 2,059 | L |
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| 2490 Morven Park Way | Single Family | 2,368 | L |
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| 680 Smithfield Pl | Single Family | 2,054 | L |
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| 2484 Morven Park Way | Single Family | 2,463 | L |
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| 672 Smithfield Pl | Single Family | 2,506 | L |
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| 2481 Morven Park Way | Single Family | 2,445 | L |
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| 704 Alcott Ave | Single Family | 1,843 | L |
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| 2478 Morven Park Way | Single Family | 2,471 | L |
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| 712 Alcott Ave | Single Family | 1,787 | L |
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| 720 Alcott Ave | Single Family | 1,933 | L |
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| 664 Smithfield Pl | Single Family | 2,396 | L |
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| 2475 Morven Park Way | Single Family | 1,850 | L |
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| 2484 Afton Ave | Single Family | 2,458 | L |
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| 728 Alcott Ave | Single Family | 1,946 | L |
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| 2469 Morven Park Way | Single Family | 2,317 | L |
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| 2478 Afton Ave | Single Family | 2,036 | L |
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| 736 Alcott Ave | Single Family | 1,766 | L |
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| 656 Smithfield Pl | Single Family | 2,523 | L |
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| 2466 Marven Pkwy | Single Family | 3,019 | L |
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| 2459 Wilson Way | Single Family | 2,126 | L |
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| 2472 Afton Ave | Single Family | 2,351 | L |
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| 2467 Morven Park Way | Single Family | 1,850 | L |
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| 2462 Wilson Way | Single Family | 1,498 | L |
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| 740 Alcott Ave | Single Family | 1,878 | L |
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| 648 Smithfield Pl | Single Family | 2,477 | L |
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| 651 Smithfield Pl | Single Family | 2,342 | L |
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| 2460 Morven Park Way | Single Family | 2,272 | L |
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| 2463 Tatum Ter | Single Family | 1,654 | L |
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| 2453 Wilson Way | Single Family | 1,910 | L |
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| 2466 Afton Ave | Single Family | 1,760 | L |
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| 2463 Morven Park Way | Single Family | 2,246 | L |
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| 748 Alcott Ave | Single Family | 1,766 | L |
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| 2456 Wilson Way | Single Family | 1,527 | L |
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Local Household Income
The median household income in this part of Florida is $52,536. The bottom 10% of the population earn less than $19,404 per year. The top 10% earn more than $118,419 per year. The top 1% earn more than $306,813 per year. Most renters earn between $24,504 (20th percentile) and $42,492 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $105,072 and $131,340.
The tax assessed value of this property places it in percentile 96 of all properties in this area. This suggests it would appeal to someone earning around $164,519 per year who should qualify for a mortgage between $329,038 and $411,298.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $801. Most renters earn between $2,042 and $3,541 per month. They typically spend 34% of their monthly income on rent. Most rents fall in the $619 (20th percentile) to $1,098 (80th percentile) range. The residential vacancy rate is 10%.
This property falls in percentile 96 of all properties in this area. This corresponds to a rent of $1,615 per month and a monthly household income of $5,497 ($65,964 per year)