The sunny state of Florida is renowned for its mild climate, high standard of living and a diverse range of entertainment options. Major cities like Miami and Tampa provide numerous opportunities for employment and career growth. Furthermore, Florida is famous for its beautiful beaches, perfect for relaxation and various water sports. The state’s natural beauty is highlighted by numerous green forests and nature reserves. Another advantage is the strong real estate market, providing potential buyers with a diverse selection of houses and apartments across different price points. This article will delve into the 10 most popular cities for homebuyers.
Content:
- Destin
- Tallahassee
- Pensacola
- Sarasota
- St. Augustine
- Jacksonville
- Orlando
- Tampa
- Miami
- Palm Beach
- Overall characteristics of the state real estate market
- Buy a home in Florida with us!
Destin
This small beach city in Florida is known for its white beaches and clear ocean water. Destin boasts excellent job opportunities, high-quality schools, and a variety of recreational activities, making it an attractive place to live and buy real estate in Florida.
The median cost of a home in the city is approximately USD 520,000, and the average monthly rent is USD 2,350, which is important for investors. If you are considering buying a rental property, keep in mind that Airbnb’s current rates for a short stay average around USD 390 per night. With Destin’s real estate market experiencing a remarkable 23% growth over the past year, investing in local housing presents an enticing opportunity for potential capital growth.
Tallahassee
As the capital city of the Sunshine State, Tallahassee boasts distinction as the home to two major universities: Florida State University (FSU) and Florida A&M University (FAMU). In general, there are many opportunities for education and further career development for young professionals. The city also offers various active recreation options such as golfing, fishing and swimming.
The median home price in Tallahassee is USD 280,000 and the average monthly rent is USD 1,500. Short-term rentals cost an average of USD 190. The growth rate of the real estate market in Tallahassee is 14.7% per year.
Pensacola
The seaside city, known for its beautiful beaches, offers many active recreation options such as surfing, kayaking, fishing and boat trips. The city is also home to several military installations. providing abundant job opportunities. The median cost of a house in Florida is about USD 250,000, and the monthly rent is USD 1,450. Short-term rentals on Airbnb cost approximately USD 215 per night. Pensacola’s real estate market is also thriving, boasting an impressive annual growth rate of 17.8%.
Sarasota
The city on the Gulf Coast is popular with tourists. Many recreational options exist here, including beaches, parks, golf courses and art galleries. The location also offers ample opportunities to build careers in various sectors—from the hospitality industry to finance.
The median price of homes in Sarasota is USD 580,000, and the monthly rent averages USD 2,159. Short-term rentals are valued at approximately USD 180. Notably, the housing market here is also experiencing strong growth, boasting an impressive increase rate of 27.5%.
St. Augustine
St. Augustine, situated in the northeastern part of the state on the Atlantic coast, is the oldest city in the United States and one of the most popular tourist destinations in Florida. This unique locale seamlessly combines pristine beaches with historical attractions, offering a plethora of museums, landmarks, art galleries, restaurants and shopping centres. The city’s well-rounded infrastructure contributes to a comfortable living experience, making it an excellent choice for acquiring a holiday home or real estate investment. The median home price in St. Augustine is USD 480,100, and the average monthly rent is USD 1,850. The average price for one-night accommodation is USD 233.
Additionally, the housing market in St. Augustine is experiencing substantial growth, with a high growth rate of 23.8% per year.
Jacksonville
Jacksonville, home to numerous Fortune 500 companies, attracts thousands of new residents from across the globe each year as it continues to grow and prosper. Renowned as one of the world’s business and international relations hubs, it’s also an ideal place to purchase real estate in Florida for both living and investment purposes. The median home price in Jacksonville is USD 315,000, and the average monthly rent is USD 1,530. The accommodation price is about USD 90 per night.
Jacksonville’s housing market is growing at an annual rate of 22.1%.
Orlando
This city is home to some of the most modern residential developments in all of Florida. The climate here is pleasant, striking the perfect balance between Miami’s hot summers and Jacksonville ‘s cooler winters. Its affordable cost of living makes it an attractive location for long-term real estate investment.
The median price of homes in Orlando is UDS 388,600, and the average monthly rent is USD 1,350. The cost of living in houses when booking on popular websites is about USD 210 per night. The housing market growth rate in Orlando is 23.8% annually.
Tampa
Tampa, an emerging and popular hub to live and work, also offers an inviting environment for relaxation. The local beaches, restaurants, and parks are worth a visit. Tampa’s housing market is experiencing significant activity, marked by elevated home prices and increasing rents. Investing in local properties can be the ideal way to generate income through long-term investments. The median home price in Tampa is USD 420,000, and the average monthly rent is USD 1,930. Short-term rentals through Airbnb cost an average of USD 160 per night.
Tampa’s real estate market is also experiencing a high growth rate of 22.7% per year.
Miami
Miami, one of the most popular cities in Florida, boasts a tropical climate and beautiful beaches. It offers numerous leisure options, including art galleries, shopping centres, restaurants and nightclubs. The city is an attractive place to purchase real estate, with numerous properties available at competitive prices. Investments in rental units and holiday homes can provide a stable stream of passive income, given the city’s popularity among tourists. The median home price is USD 556,500, and the average monthly rent is USD 2,350. The rental price per night is about USD 200. Growth in the housing market is 27.4% per year.
Palm Beach
This is a luxurious contemporary Florida resort town. Thanks to good infrastructure, it’s ideal for living and due to the year-round influx of tourists and constant population growth, it’s an attractive place for real estate investment. The median home price in Palm Beach is around USD 500,000–525,000, and the monthly rent averages USD 9,500. The price for one-night accommodation is about USD 261. The real estate market is showing a high growth rate of 29.4% per year.
Overall characteristics of the state real estate market
The housing sector in Florida is booming, with a constant increase in demand for real estate leading to rising residence prices and making the state an attractive investment destination. Over the past 7 years, the median price of real estate in Florida has increased by 80%, and this upward trend is projected to continue. The state has the 3rd largest population in the United States with more than 22 million people. This figure is predicted to significantly rise in the coming years. This will lead to an increased demand for housing, resulting in higher home prices and rents.
Buy a home in Florida with us!
We invite you to explore the housing options available for purchase in Florida through our aggregator website. The platform offers a wide range of units that can be filtered by various parameters such as the number of bedrooms, living space area, location and price. Using the website enables you to compare different properties and analyse their advantages and disadvantages. With a large catalogue and convenient search, the platform is designed to save you time and effort when searching for a suitable unit. All listings come from trusted developers and reliable agencies.
Good luck in finding your perfect villa or apartment in Florida!