Florida, the “sunshine state,” is the preferred location for people who want to afford a good lifestyle and save some money. Due to its lack of individual Income Tax, Estate, or Inheritance tax, the state is preferred by the young and the old, but prices have been rising in Florida, too. Home prices in Florida increased by 3.7% in 2024 as opposed to 2023, with the median selling price of a house standing at a whopping $415500.
Despite this, hope is not lost. There are still places in Florida where home prices are cheap and affordable. Let’s take a look at ten of these places.
FORT MYERS
Fort Myers, situated on the Gulf of Mexico, is a city in Lee County, Florida. It’s one of Florida’s major tourist destinations. Fort Myers has a thriving arts and cultural scene, with venues like the Sidney & Berne Davis Art Center and the Florida Repertory Theatre. The city has many parks and nature preserves, like Manatee Park and Six Mile Cypress Slough Preserve. The city’s proximity to popular destinations like Sanibel Island and Captiva Island makes it an ideal place for beach lovers.
The median selling price of a home in Fort Myers is $435000, and the average property tax is 1.40%. Mortgage rates range from 7.08% for a 30-year fixed term to 6.30% for a 15-year fixed term.
TITUSVILLE
Titusville is a city in Brevard County. The city’s motto is “Gateway to Nature and Space,” owing to its many attractions, ranging from space centers to beautiful rivers. Titusville has many attractions, such as the Kennedy Space Center, Merritt Island Wildlife Refuge, Indian River Lagoon, and Canaveral National Seashore.
Titusville is highly affordable on all fronts, including housing, with all expenditures falling below the National average. The median price of the property is $280000, and the average property tax is 1.17%. The mortgage rates range from 7.08% for a 30-year fixed term to 6.30% for a 15-year fixed term.
TALLAHASSEE
Tallahassee, part of Leon County, is the state capital of Florida. As the state capital, Tallahassee boasts a rich historical heritage showcased through landmarks like the Florida State Capitol Building, The Grove Museum, and the Knott House Museum. Additionally, Tallahassee provides plenty of activities for outdoor enthusiasts, like the St. Marks National Wildlife Refuge and the beautiful Cascades Park.
The median selling price of a home in Tallahassee is $265000, and the average property tax rate is 1.29%. The mortgage rates in Tallahassee range from 7.20% for a 30-year fixed term to 6.37% for a 15-year fixed term.
OCALA
Ocala, the “Horse capital of the world,” is a city in central Florida. The city is home to several notable parks, including Silver Springs State Park, which features famous glass-bottom boat tours over crystal-clear waterways.
Ocala is also home to the Ocala National Forest, or the Canyons Zip Line and Adventure Park.
The city also boasts several museums, including the Appleton Museum of Art, which showcases many European, American, and Global works.
The median selling price of a home in Ocala is $262000, and the average property tax rate is 1.26%. Mortgage rates in Ocala range from 7.14% for 30-year fixed to 6.24% for 15-year fixed.
GAINESVILLE
Gainesville is a city in northern Florida. It is home to the University of Florida and offers a unique blend of academic vitality, cultural richness, and outdoor adventures.
The city boasts top-rated attractions like the Florida Museum of Natural History and the renowned Butterfly Rainforest.
The median selling price of a home in Gainesville is $255500, and the average property tax rate is 1.67%. The mortgage payment rates range from 7.28% for a 30-year fixed term to 6.50% for a 15-year fixed term.
HOMOSASSA SPRINGS
Homosassa Springs is an unincorporated community in Citrus County, Florida. The city is home to the Ellie Schiller Homosassa Springs Wildlife State Park, which has many exotic animals, including Manatees and alligators. The city is also home to beautiful clear-water rivers like the Halls and Chassahowitzka rivers.
The median selling price of a home in Homosassa is $214000, and the average property tax rate stands at 1.10%. The mortgage payment rates range from 7.08% for a 30-year fixed term to 6.30% for a 15-year fixed term.
PENSACOLA
Pensacola is a city on the northwest coast of Florida, known for its beautiful beaches. The city is home to the Blue Angels, a world-renowned U.S. Navy’s elite flight demonstration squadron.
Pensacola Beach was named Top 25 for Tripadvisor’s Best Beaches in the U.S., and Pensacola was named ‘South’s Best Beach Towns’ by Southern Living. The beach’s pristine white sand and emerald-green waters make it a popular destination.
The median selling price of a home in Pensacola is $300000 and the average property tax rate stands at 1.06%. The mortgage payment rates range from 7.28% for a 30-year fixed term to 6.50% for a 15-year fixed term.
SEBRING
Sebring is a city in south-central Florida. Sebring is nicknamed “The City on the Circle” because of the Circle Drive in the center of the Sebring Downtown Historic District. The city’s Sebring International Raceway hosts the annual 12 Hours of Sebring endurance race and attracts motorsports enthusiasts worldwide.
The city also offers a welcoming community with an excellent quality of life and affordable housing rates, making it the perfect place to buy a house.
The median selling price of a home in Sebring is $230000, and the average property tax rate is 1.19%. The mortgage payment rates range from 7.31% for a 30-year fixed term to 6.57% for a 15-year fixed term.
BARTOW
Bartow, located between Tampa and Orlando, is a city in Polk County, Florida. It is named in honor of Francis S. Bartow, who was the first brigade commander of the Confederate Army to die in combat in the American Civil War.
The city has a small-town charm and a sense of community. The median selling price of a home is $290000. Bartow has a lower property tax rate of 0.95%. The mortgage rates range from 7.26% for a 30-year fixed term to 6.49% for a 15-year fixed term.
WINTER HAVEN
Winter Haven, the second-most populous city in Polk County, Florida, has a rich history, beautiful lakes, and a vibrant community. It is nicknamed “The Chain of Lakes City” because of the fifty lakes bordering and within it.
LEGOLAND Florida Resort is the city’s crown jewel, with over 50 rides and attractions and access to the historic Cypress Gardens Botanical Gardens. These make it a perfect place for both working professionals and retirees.
The median selling price of a home is $289550, and the average property tax rate is 1.28%. Mortgage rates range from 7.26% for a 30-year fixed term to 6.43% for a 15-year fixed term.
