Home prices have surged in the U.S. in recent years. Driven by rising demand and supply constraints during the pandemic, the median home sale price spiked by nearly 50% from the second quarter of 2020 to Q3 in 2022. While the sale price of a typical American home has fallen in recent months since, housing prices remain at historic highs.
Not only have home values soared, but borrowing costs for home buyers have also climbed. The average interest rate on a 30-year fixed mortgage has been above 6% since September 2022, a high not seen in nearly a decade and a half. In a market defined by high prices and high mortgage rates, homeownership has become prohibitively expensive for a large number of Americans.
Still, housing prices are also subject to a number of factors that can be isolated from broader, nationwide market trends — and location is one of them. Two homes that are virtually identical can vary in price by hundreds of thousands of dollars, depending on where they are. And for prospective homeowners on a budget, some Florida cities are far more affordable than others.
According to five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, the typical home in Florida is worth $292,200. But across the 45 cities, towns, and unincorporated communities in the state with populations of at least 75,000, median home values range from about $185,000 to nearly $600,000.
In any local market, home prices are often a reflection of what residents can afford. In Florida, many of the least expensive cities for homebuyers are not high-income areas. Of the 45 Florida cities with available data from the ACS, 20 have a median home value that is less than the statewide median. In all but six of these places, the typical household earns less than the statewide median household income of $67,917.
These are the cheapest and most expensive housing markets in Florida.
45. Largo
Source: Norm Lane / iStock via Getty Images
- Median home value: $184,500
- Homes worth over $1 million: 1.6%
- Homeownership rate: 60.4%
- Median household income: $56,266
- Total population: 82,541
44. Lakeland
Source: nikonphotog / iStock via Getty Images
- Median home value: $207,800
- Homes worth over $1 million: 0.7%
- Homeownership rate: 54.8%
- Median household income: $58,290
- Total population: 114,404
43. Pine Hills
- Median home value: $216,400
- Homes worth over $1 million: 0.9%
- Homeownership rate: 54.1%
- Median household income: $49,474
- Total population: 83,221
42. Gainesville
Source: Sean Pavone / iStock via Getty Images
- Median home value: $216,600
- Homes worth over $1 million: 0.9%
- Homeownership rate: 38.5%
- Median household income: $43,783
- Total population: 142,414
41. Spring Hill
- Median home value: $221,500
- Homes worth over $1 million: 0.3%
- Homeownership rate: 77.9%
- Median household income: $61,588
- Total population: 116,882
40. Palm Bay
Source: Public Domain / Wikimedia Commons
- Median home value: $226,200
- Homes worth over $1 million: 0.4%
- Homeownership rate: 79.9%
- Median household income: $62,538
- Total population: 121,513
39. Deltona
Source: Kruck20 / Getty Images
- Median home value: $226,800
- Homes worth over $1 million: 0.4%
- Homeownership rate: 80.3%
- Median household income: $69,074
- Total population: 94,373
38. Lehigh Acres
Source: formulanone / Flickr
- Median home value: $231,500
- Homes worth over $1 million: 0.2%
- Homeownership rate: 67.0%
- Median household income: $59,733
- Total population: 124,440
37. Jacksonville
Source: Art Wager / E+ via Getty Images
- Median home value: $243,000
- Homes worth over $1 million: 2.0%
- Homeownership rate: 57.0%
- Median household income: $64,138
- Total population: 950,203
36. Deerfield Beach
Source: felixmizioznikov / iStock via Getty Images
- Median home value: $243,900
- Homes worth over $1 million: 3.4%
- Homeownership rate: 61.1%
- Median household income: $53,741
- Total population: 86,455
35. Melbourne
Source: Thomas_Kelley / iStock via Getty Images
- Median home value: $247,300
- Homes worth over $1 million: 1.8%
- Homeownership rate: 58.8%
- Median household income: $60,917
- Total population: 84,982
34. Kissimmee
Source: VisionsbyAtlee / iStock via Getty Images
- Median home value: $253,000
- Homes worth over $1 million: 0.3%
- Homeownership rate: 47.0%
- Median household income: $45,319
- Total population: 78,478
33. Tallahassee
Source: SeanPavonePhoto / iStock via Getty Images
- Median home value: $256,400
- Homes worth over $1 million: 1.9%
- Homeownership rate: 39.8%
- Median household income: $52,899
- Total population: 198,259
32. Town ‘n’ Country
Source: Public Domain / Wikimedia Commons
- Median home value: $261,300
- Homes worth over $1 million: 1.3%
- Homeownership rate: 57.5%
- Median household income: $63,947
- Total population: 89,456
31. Brandon
Source: Public Domain / Wikimedia Commons
- Median home value: $266,400
- Homes worth over $1 million: 0.7%
- Homeownership rate: 55.1%
- Median household income: $71,156
- Total population: 114,923
30. Palm Coast
Source: Donna Derrick / iStock via Getty Images
- Median home value: $283,300
- Homes worth over $1 million: 0.9%
- Homeownership rate: 77.9%
- Median household income: $68,824
- Total population: 91,082
29. North Port
Source: Serenethos / iStock Editorial via Getty Images
- Median home value: $283,400
- Homes worth over $1 million: 1.2%
- Homeownership rate: 79.5%
- Median household income: $78,815
- Total population: 76,975
28. Boynton Beach
Source: felixmizioznikov / iStock via Getty Images
- Median home value: $285,500
- Homes worth over $1 million: 0.9%
- Homeownership rate: 62.9%
- Median household income: $68,875
- Total population: 80,068
27. Clearwater
Source: Michael Warren / iStock via Getty Images
- Median home value: $287,900
- Homes worth over $1 million: 3.6%
- Homeownership rate: 58.8%
- Median household income: $59,358
- Total population: 116,984
26. St. Petersburg
Source: Michael Warren / iStock via Getty Images
- Median home value: $289,000
- Homes worth over $1 million: 5.2%
- Homeownership rate: 62.6%
- Median household income: $70,333
- Total population: 259,343
25. Riverview
Source: sonia-cervantes / Getty Images
- Median home value: $292,700
- Homes worth over $1 million: 0.5%
- Homeownership rate: 72.6%
- Median household income: $87,383
- Total population: 102,467
24. Port St. Lucie
Source: felixmizioznikov / iStock via Getty Images
- Median home value: $292,900
- Homes worth over $1 million: 0.9%
- Homeownership rate: 82.8%
- Median household income: $75,040
- Total population: 210,520
23. Pompano Beach
Source: Art Wager / E+ via Getty Images
- Median home value: $293,300
- Homes worth over $1 million: 4.5%
- Homeownership rate: 53.1%
- Median household income: $61,155
- Total population: 111,790
22. Sunrise
Source: felixmizioznikov / iStock via Getty Images
- Median home value: $296,100
- Homes worth over $1 million: 0.2%
- Homeownership rate: 69.6%
- Median household income: $66,001
- Total population: 96,510
21. Miami Gardens
Source: Mozes Ban / iStock via Getty Images
- Median home value: $299,700
- Homes worth over $1 million: 1.0%
- Homeownership rate: 64.7%
- Median household income: $56,071
- Total population: 111,618
20. Cape Coral
Source: TriggerPhoto / iStock via Getty Images
- Median home value: $302,400
- Homes worth over $1 million: 2.2%
- Homeownership rate: 77.4%
- Median household income: $72,474
- Total population: 198,912
19. Homestead
Source: felixmizioznikov / iStock via Getty Images
- Median home value: $316,200
- Homes worth over $1 million: 0.3%
- Homeownership rate: 44.9%
- Median household income: $57,739
- Total population: 79,996
18. Fort Myers
Source: Alexander Westermann / iStock via Getty Images
- Median home value: $318,900
- Homes worth over $1 million: 2.2%
- Homeownership rate: 48.6%
- Median household income: $57,403
- Total population: 88,699
17. Hialeah
Source: Juanmonino / iStock via Getty Images
- Median home value: $324,300
- Homes worth over $1 million: 0.7%
- Homeownership rate: 47.4%
- Median household income: $49,531
- Total population: 222,996
16. West Palm Beach
Source: Michael Warren / iStock Unreleased via Getty Images
- Median home value: $324,800
- Homes worth over $1 million: 6.2%
- Homeownership rate: 49.8%
- Median household income: $64,044
- Total population: 117,588
15. Orlando
Source: Kruck20 / iStock via Getty Images
- Median home value: $332,700
- Homes worth over $1 million: 4.1%
- Homeownership rate: 39.2%
- Median household income: $66,292
- Total population: 307,738
14. Tampa
Source: SeanPavonePhoto / iStock via Getty Images
- Median home value: $333,200
- Homes worth over $1 million: 8.8%
- Homeownership rate: 50.5%
- Median household income: $66,802
- Total population: 388,768
13. Hollywood
Source: felixmizioznikov / iStock via Getty Images
- Median home value: $345,300
- Homes worth over $1 million: 5.2%
- Homeownership rate: 56.6%
- Median household income: $61,958
- Total population: 152,764
12. The Villages
Source: Michael Warren / iStock via Getty Images
- Median home value: $346,900
- Homes worth over $1 million: 1.2%
- Homeownership rate: 94.4%
- Median household income: $73,415
- Total population: 79,108
11. Alafaya
Source: DemocraticLuntz / Wikimedia Commons
- Median home value: $361,800
- Homes worth over $1 million: 0.7%
- Homeownership rate: 63.4%
- Median household income: $93,251
- Total population: 91,531
10. Miramar
Source: ablokhin / iStock Editorial via Getty Images
- Median home value: $378,200
- Homes worth over $1 million: 1.4%
- Homeownership rate: 69.4%
- Median household income: $81,812
- Total population: 135,158
9. Pembroke Pines
Source: felixmizioznikov / iStock via Getty Images
- Median home value: $379,900
- Homes worth over $1 million: 0.4%
- Homeownership rate: 71.0%
- Median household income: $77,657
- Total population: 170,472
8. Davie
Source: Holly Guerrio / iStock via Getty Images
- Median home value: $405,100
- Homes worth over $1 million: 8.2%
- Homeownership rate: 65.4%
- Median household income: $84,346
- Total population: 105,821
7. Plantation
Source: JillianCain / iStock via Getty Images
- Median home value: $412,000
- Homes worth over $1 million: 3.4%
- Homeownership rate: 63.9%
- Median household income: $83,074
- Total population: 93,130
6. Fort Lauderdale
Source: epitomized / Flickr
- Median home value: $417,600
- Homes worth over $1 million: 14.1%
- Homeownership rate: 54.2%
- Median household income: $75,376
- Total population: 182,673
5. Miami
Source: Davel5957 / iStock via Getty Images
- Median home value: $433,900
- Homes worth over $1 million: 11.2%
- Homeownership rate: 30.1%
- Median household income: $54,858
- Total population: 443,665
4. Coral Springs
Source: traiansum / iStock via Getty Images
- Median home value: $453,100
- Homes worth over $1 million: 2.3%
- Homeownership rate: 60.0%
- Median household income: $87,488
- Total population: 133,801
3. Kendall
Source: CHUYN / Getty Images
- Median home value: $474,000
- Homes worth over $1 million: 7.9%
- Homeownership rate: 61.4%
- Median household income: $84,026
- Total population: 78,402
2. Miami Beach
Source: pom-angers / Flickr
- Median home value: $532,300
- Homes worth over $1 million: 29.8%
- Homeownership rate: 37.0%
- Median household income: $65,116
- Total population: 82,400
1. Boca Raton
Source: Paola Giannoni / iStock via Getty Images
- Median home value: $597,100
- Homes worth over $1 million: 22.6%
- Homeownership rate: 65.7%
- Median household income: $95,570
- Total population: 97,980
| Rank | Places in Florida with at least 75,000 residents | Median home value ($) | Homeownership rate (%) | Median household income ($) | Total Population |
|---|---|---|---|---|---|
| 1 | Boca Raton | 597,100 | 65.7 | 95,570 | 97,980 |
| 2 | Miami Beach | 532,300 | 37.0 | 65,116 | 82,400 |
| 3 | Kendall | 474,000 | 61.4 | 84,026 | 78,402 |
| 4 | Coral Springs | 453,100 | 60.0 | 87,488 | 133,801 |
| 5 | Miami | 433,900 | 30.1 | 54,858 | 443,665 |
| 6 | Fort Lauderdale | 417,600 | 54.2 | 75,376 | 182,673 |
| 7 | Plantation | 412,000 | 63.9 | 83,074 | 93,130 |
| 8 | Davie | 405,100 | 65.4 | 84,346 | 105,821 |
| 9 | Pembroke Pines | 379,900 | 71.0 | 77,657 | 170,472 |
| 10 | Miramar | 378,200 | 69.4 | 81,812 | 135,158 |
| 11 | Alafaya | 361,800 | 63.4 | 93,251 | 91,531 |
| 12 | The Villages | 346,900 | 94.4 | 73,415 | 79,108 |
| 13 | Hollywood | 345,300 | 56.6 | 61,958 | 152,764 |
| 14 | Tampa | 333,200 | 50.5 | 66,802 | 388,768 |
| 15 | Orlando | 332,700 | 39.2 | 66,292 | 307,738 |
| 16 | West Palm Beach | 324,800 | 49.8 | 64,044 | 117,588 |
| 17 | Hialeah | 324,300 | 47.4 | 49,531 | 222,996 |
| 18 | Fort Myers | 318,900 | 48.6 | 57,403 | 88,699 |
| 19 | Homestead | 316,200 | 44.9 | 57,739 | 79,996 |
| 20 | Cape Coral | 302,400 | 77.4 | 72,474 | 198,912 |
| 21 | Miami Gardens | 299,700 | 64.7 | 56,071 | 111,618 |
| 22 | Sunrise | 296,100 | 69.6 | 66,001 | 96,510 |
| 23 | Pompano Beach | 293,300 | 53.1 | 61,155 | 111,790 |
| 24 | Port St. Lucie | 292,900 | 82.8 | 75,040 | 210,520 |
| 25 | Riverview | 292,700 | 72.6 | 87,383 | 102,467 |
| 26 | St. Petersburg | 289,000 | 62.6 | 70,333 | 259,343 |
| 27 | Clearwater | 287,900 | 58.8 | 59,358 | 116,984 |
| 28 | Boynton Beach | 285,500 | 62.9 | 68,875 | 80,068 |
| 29 | North Port | 283,400 | 79.5 | 78,815 | 76,975 |
| 30 | Palm Coast | 283,300 | 77.9 | 68,824 | 91,082 |
| 31 | Brandon | 266,400 | 55.1 | 71,156 | 114,923 |
| 32 | Town ‘n’ Country | 261,300 | 57.5 | 63,947 | 89,456 |
| 33 | Tallahassee | 256,400 | 39.8 | 52,899 | 198,259 |
| 34 | Kissimmee | 253,000 | 47.0 | 45,319 | 78,478 |
| 35 | Melbourne | 247,300 | 58.8 | 60,917 | 84,982 |
| 36 | Deerfield Beach | 243,900 | 61.1 | 53,741 | 86,455 |
| 37 | Jacksonville | 243,000 | 57.0 | 64,138 | 950,203 |
| 38 | Lehigh Acres | 231,500 | 67.0 | 59,733 | 124,440 |
| 39 | Deltona | 226,800 | 80.3 | 69,074 | 94,373 |
| 40 | Palm Bay | 226,200 | 79.9 | 62,538 | 121,513 |
| 41 | Spring Hill | 221,500 | 77.9 | 61,588 | 116,882 |
| 42 | Gainesville | 216,600 | 38.5 | 43,783 | 142,414 |
| 43 | Pine Hills | 216,400 | 54.1 | 49,474 | 83,221 |
| 44 | Lakeland | 207,800 | 54.8 | 58,290 | 114,404 |
| 45 | Largo | 184,500 | 60.4 | 56,266 | 82,541 |
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