8380 Se 161st St, Summerfield
Marion County Real Estate - Summerfield
Summerfield is in North Central Florida. Summerfield is approximately 14 miles from Ocala (population 56,315) and around 6 miles from The Villages (population 51,442).
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Marion County
Marion County is located in North Central Florida, along with Alachua, Madison, Hamilton, Taylor, Suwannee, Union, Bradford, Lafayette, Dixie, Levy, Gilchrist, and Columbia counties. Incorporated municipalities include Belleview, Dunnellon, Ocala, McIntosh, and Reddick. The population of Marion County is over 330,000.
The largest industries providing employment in Marion County are agriculture, educational, health, and social services; retail trade; and manufacturing. Major private sector employers are Munroe Regional Medical Center, Ocala Regional Medical Center & West Marion Community Hospital, AT&T, Lockheed Martin, and E-ONE Inc. top public sector employers include Marion County Public Schools, Florida State Government, Federal Government, Marion County BCC, and City of Ocala.
Marion County is the only region in the United States that can legitimately claim the title of the horse capital of the world. Marion County contains nearly 50,000 horses during peak season, more than any other county in the nation. Thoroughbred racehorses from Marion were the first Florida-bred horses to win the Kentucky Derby and Florida Derby. The industry drives approximately $2.2 billion into the local economy and supports 40,000 jobs.
An important agricultural area, Marion County has a long history of ranching. It is the 12th largest cattle producer in the state and the Ocala Bull Sale is the oldest in the nation. More than 250,000 acres are devoted to logging. Other crops produced here include peanuts, citrus, and hay.
Ten miles northwest of Ocala lies the Lowell Correctional Institution. The facility was the first to house female inmates exclusively. The Lowell Annex is part of the complex and houses the state's female inmates on death row.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 8432 Se 161st St | Single Family | 1,642 | B |
 |
| 8390 Se 160th Pl | Vacant Residential | 1,435 | B |
|
| 8380 Se 161st Pl | Single Family | 1,284 | B |
|
| 8420 Se 161st Pl | Single Family | 1,200 | B |
|
| 8335 Se 162nd St | Single Family | 0 | B | |
| 16140 Se 83rd Ave | Single Family | 1,876 | B |
|
Local Household Income
The median household income in this part of Florida is $47,461. The bottom 10% of the population earn less than $17,218 per year. The top 10% earn more than $107,570 per year. The top 1% earn more than $332,268 per year. Most renters earn between $22,872 (20th percentile) and $40,056 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $94,922 and $118,653.
The tax assessed value of this property places it in percentile 65 of all properties in this area. This suggests it would appeal to someone earning around $61,255 per year who should qualify for a mortgage between $122,510 and $153,138.
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 $819. Most renters earn between $1,906 and $3,338 per month. They typically spend 34% of their monthly income on rent. Most rents fall in the $592 (20th percentile) to $1,056 (80th percentile) range. The residential vacancy rate is 8%.
This property falls in percentile 65 of all properties in this area. This corresponds to a rent of $937 per month and a monthly household income of $2,889 ($34,668 per year)