Florida Housing Market: Home Prices, Rent and Affordability
The typical Florida home is worth $375,470, down 1.5% over the past year and up 20.3% over five years, 1.8% above the national $368,697 (latest release). That ranks #23 of 50 on price. A 20%-down mortgage runs $1,932 a month and takes about $108,280 of income; the median Florida household earns $77,735, $30,545 short.
In Miami, the state's largest metro, typical rent is $2,666 a month against a $2,448 principal-and-interest payment on the typical home, so buying is $218 a month cheaper before taxes, insurance and maintenance. The market is warm: 24.2% of listings cut their price (national 26.4%), homes go pending in 89 days (national 53), and for-sale inventory is down 12.2% from a year ago.
All housing figures are the latest published numbers for August; median household income is from the Census Bureau.
Florida Housing by the Numbers
How much does a house cost in Florida? The typical home is worth $375,470, the median sale price is $388,100 and the median list price $405,882. The six figures below describe the market this month, each with the national comparison.
- Typical home
- $375,470
- #23 priciest · national $369K
- Mortgage payment
- $1,932/mo
- P&I, 20% down · national $1,897
- Income needed
- $108K
- median earns $78K (+39%)
- Rent, Miami
- $2,666/mo
- +1.6% in 1 yr · national $1,948
- Price cuts
- 24.2%
- of listings · national 26.4%
- Days to pending
- 89
- national 53 · 175,123 for sale (-12.2%)
How Have Florida Home Prices Changed?
The typical Florida home value every month since 2000, with the national typical home as a dashed line. Values fell 1.5% over the past year, are up 20.3% over five years, up 85.4% over ten, and up 245% since January 2000.
- Peak
- $404,529
- May 2024 · now -7.2%
- 10-year change
- +85.4%
- national +77.9%
- Median sale price
- $388,100
- list price $405,882
- Payment, 1-yr change
- -0.6%
- Rates and prices combined
Is It Cheaper to Rent or Buy in Florida?
Two direct answers from the data. Rent versus buy sets typical asking rent in Miami, the state's largest metro, against the mortgage payment on the typical home there, since rent indexes are published by metro rather than by state. The affordability gap is the income needed to buy the typical Florida home minus what the median household actually earns.
Rent vs. buy · Miami, FL
Buying is $218/month cheaper
The payment excludes property tax (0.82% of value in Florida), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (20.3%), equity would narrow that gap over a long stay.
Affordability gap · #39 of 50
The median household is $30,545 short of the income needed
A $1,932 monthly payment takes 29.8% of the median Florida household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%.
Full budget for your household →Is Florida a Buyer's or a Seller's Market?
Market temperature is our label from three market signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Florida is warm: it slightly favors sellers: one of the three market signals points cooler than the national market.
Median sale price $388,100 against a median list price of $405,882, so the typical home closes 4.4% below asking.
Where the Florida market is heading
Compared with a year ago, two of the three signals point tighter, in sellers' favor: the share of listings with a price cut is down 1.7 points from a year ago to 24.2%, homes take the same 89 days to go pending as a year ago, and the number of homes for sale is down 12.2%. The typical home value fell 1.5% over the same period and is 7.2% below its May 2024 peak of $404,529. We publish no forecasts: these are the current-month readings, not a prediction of where Florida home prices go next.
Home Values and Rents in Florida Cities
A city-level home value or rent is available for 67 of the Florida cities we track. The most expensive is Weston ($719,191) and the cheapest Lauderhill ($208,707). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Jacksonville | 977,670 | $285,103 | -0.8% | ||||
| Miami | 459,745 | $580,866 | +0.8% | ||||
| Tampa | 401,618 | $377,566 | -0.3% | ||||
| Orlando | 319,758 | $371,120 | -1.4% | ||||
| Hialeah | 226,165 | $442,859 | -0.3% | ||||
| Cape Coral | 215,536 | $335,825 | -3.9% | ||||
| Tallahassee | 201,875 | $294,444 | +1.4% | ||||
| Fort Lauderdale | 185,604 | $511,473 | -1.3% | ||||
| Pembroke Pines | 173,194 | $488,121 | -1.9% | ||||
| Hollywood | 155,082 | $444,268 | -2.3% | ||||
| Gainesville | 145,702 | $295,760 | -1.2% | ||||
| Miramar | 138,600 | $521,195 | -1.4% | ||||
| Coral Springs | 136,103 | $523,439 | -1.9% | ||||
| Lehigh Acres | 132,353 | $279,720 | -5.8% | ||||
| Palm Bay | 130,132 | $303,910 | -1.7% | ||||
| West Palm Beach | 122,290 | $404,294 | +1.4% | ||||
| Spring Hill | 119,983 | $305,201 | -2.2% | ||||
| Lakeland | 119,961 | $309,954 | -1.3% | ||||
| Brandon | 119,767 | $355,560 | -0.6% | ||||
| Clearwater | 117,247 | $342,820 | -0.6% | ||||
| Pompano Beach | 114,147 | $351,953 | -1.9% | ||||
| Riverview | 113,697 | $363,568 | -2.8% | ||||
| Miami Gardens | 113,177 | $475,297 | +0.4% | ||||
| Davie | 108,346 | $516,933 | -2.1% | ||||
| Boca Raton | 100,234 | $576,824 | +3.7% | ||||
| Palm Coast | 98,258 | $342,262 | -0.9% | ||||
| Sunrise | 97,918 | $362,274 | -3.0% | ||||
| Deltona | 97,334 | $298,293 | -0.7% | ||||
| Plantation | 96,293 | $495,099 | -2.1% | ||||
| Fort Myers | 95,051 | $305,650 | -5.0% | ||||
| Deerfield Beach | 88,093 | $272,563 | -3.0% | ||||
| Melbourne | 86,576 | $356,996 | -1.0% | ||||
| North Port | 84,605 | $301,967 | -3.5% | ||||
| The Villages | 83,498 | $392,083 | -1.1% | ||||
| Homestead | 82,807 | $434,225 | -3.5% | ||||
| Largo | 82,617 | $336,911 | +0.5% | ||||
| Miami Beach | 82,031 | $522,429 | +1.0% | ||||
| Kissimmee | 81,479 | $355,971 | -3.2% | ||||
| Boynton Beach | 81,435 | $403,510 | -0.3% | ||||
| Pine Hills | 80,105 | $274,704 | -2.4% | ||||
| Doral | 79,216 | $543,159 | -1.2% | ||||
| Daytona Beach | 78,992 | $252,622 | -2.3% | ||||
| Wesley Chapel | 76,011 | $400,424 | -2.8% | ||||
| Poinciana | 75,068 | $279,614 | -4.2% | ||||
| Lauderhill | 74,896 | $208,707 | -5.4% | ||||
| Tamarac | 73,019 | $292,430 | -4.5% | ||||
| Weston | 68,837 | $719,191 | -1.7% | ||||
| Delray Beach | 67,979 | $343,049 | +0.2% | ||||
| Ocala | 66,584 | $265,333 | -2.5% | ||||
| Port Charlotte | 66,133 | $267,275 | -4.6% | ||||
| Port Orange | 64,767 | $337,510 | -2.4% | ||||
| Sanford | 63,730 | $340,196 | -2.1% | ||||
| Wellington | 62,146 | $658,628 | +1.7% | ||||
| Jupiter | 61,883 | $704,677 | +1.8% | ||||
| Palm Harbor | 61,512 | $404,931 | -1.3% | ||||
| Palm Beach Gardens | 60,959 | $695,799 | +3.2% | ||||
| North Miami | 60,344 | $421,749 | +1.1% | ||||
| Margate | 59,198 | $322,169 | -1.9% | ||||
| The Hammocks | 58,838 | $534,688 | -0.2% | ||||
| Coconut Creek | 58,330 | $278,815 | -6.4% | ||||
| Apopka | 58,232 | $394,175 | -0.6% | ||||
| Bradenton | 57,014 | $352,501 | -3.2% | ||||
| Sarasota | 56,970 | $409,878 | -2.7% | ||||
| Bonita Springs | 55,904 | $502,803 | -3.2% | ||||
| Winter Haven | 55,200 | $272,484 | -2.7% | ||||
| Pensacola | 54,036 | $266,727 | +1.2% | ||||
| Pinellas Park | 53,560 | $302,985 | -1.6% |
Home value and rent are city-level indexes; population and median household income are Census ACS. Cities without a published index are omitted.
All Florida cities ranked →How Florida Compares With Nearby States
The South states closest to Florida on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Florida
Florida dashboard
Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Florida
Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Florida
IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Florida Housing Market FAQ
What is the average house price in Florida?
$375,470 is the typical Florida home value according to the latest release of the home value index, which tracks homes in the middle third of the market. The median sale price was $388,100 and the median list price $405,882. That makes Florida the #23 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Florida?
Yes. The typical Florida home value fell 1.5% over the past year, and it is 7.2% below its May 2024 peak of $404,529. Over five years it is up 20.3% and over ten years up 85.4%. Nationally, values rose 1.2% over the year.
How have Florida home prices changed over the past 1, 5 and 10 years?
-1.5% over one year, +20.3% over five years and +85.4% over ten years for the typical Florida home value, per the latest release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Florida home is up 245%. The monthly chart above shows the full series against the national line.
Will the Florida housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Florida home value is 7.2% below its May 2024 peak of $404,529 after it fell 1.5% over the past year; 24.2% of listings have cut their price (national 26.4%), homes go pending in 89 days (national 53), and inventory is down 12.2% from a year ago, per Zillow Research. The largest decline in the monthly value series for Florida was 49.8% from September 2006 to December 2011, and values took 105 months to regain that peak.
Is it a good time to buy a house in Florida?
The Florida market is warm right now, which means it slightly favors sellers: one of the three market signals points cooler than the national market. 24.2% of listings cut their price (national 26.4%), homes go pending in 89 days (national 53), and for-sale inventory is down 12.2% from a year ago. Affordability is the constraint: buying the typical home takes $108,280 of income, $30,545 more than the median household earns. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Florida a buyer's or seller's market?
Florida leans toward sellers. Fewer listings are cutting prices than the national average (24.2% vs. 26.4%), homes take 89 days to go pending (national 53), and the number of homes for sale is down 12.2% from a year ago at 175K listings. One of those three signals points toward buyers.
What is the average rent in Florida?
In Miami, Florida's largest metro, the typical asking rent is $2,666 a month, up 1.6% over the past year and up 27.8% over five years, per the rent index. The national typical rent is $1,948. Among Florida cities we track, rents range from $1,470 to $3,540 a month.
Is it cheaper to rent or buy in Florida?
Buying is cheaper month to month in Miami, Florida's largest metro. Typical rent is $2,666 and the principal-and-interest payment on the typical home with 20% down is $2,448, a difference of $218 a month in favor of buying. The payment excludes property tax (0.82% of value in Florida), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Florida?
About $108,280 a year, using the standard assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Florida household earns $77,735, so the typical household is $30,545 short. That is the #39 smallest affordability gap of the 50 states. The monthly payment of $1,932 equals 29.8% of the median household's income.
Where are homes cheapest and most expensive in Florida?
Among the Florida cities we track with a published home value, the most expensive typical home is in Weston ($719,191) and the cheapest in Lauderhill ($208,707). Also at the top: Jupiter ($704,677), Palm Beach Gardens ($695,799), and Wellington ($658,628). The city table above lists every tracked Florida city with its value, one-year change and rent.
How does Florida compare with nearby states?
In the South, the closest comparisons on price are Virginia ($414,662, up 2.2% in a year), North Carolina ($334,773, flat in a year), and Tennessee ($334,108, up 0.7% in a year). Florida's typical home is $375,470, down 1.5%. On affordability, Florida ranks #39 of 50 versus Virginia at #28, North Carolina at #26, and Tennessee at #27.
How current is the Florida housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →