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The Most Expensive Places to Own a Home in Florida

The Sunshine State is home to millions of homeowners – some of whom pay more than others. The average Floridian spends 33% of their income to afford their home. According to the Department of Housing and Urban Development, the average Floridian is housing cost burdened. In some areas of the state, affording a home means paying over 40 or 50% of ones income. In this study we examine the the most expensive and affordable places to own a home in Florida.

The Top 10 Most Expensive Places to Own a Home in Florida

In Florida, the majority of the most expensive places are on the south eastern cost of Florida around Miami. Miami itself is the most expensive place to own a home with Miami Beach coming in at a close 2nd. The average resident of both places spends over 60% of their income to afford a home. Hialeah, just outside of Miami, is also highly expensive, though not nearly as bad as Miami.

 

Rank City Median Income Housing Costs Per Month Affordability Margin
1 Miami $33,999 $1,858 65.60%
2 Miami Beach $50,193 $2,616 62.50%
3 Hialeah $31,012 $1,348 52.20%
4 Key West $62,052 $2,656 51.40%
5 Fort Pierce $28,025 $1,157 49.50%
6 Hallandale Beach $36,072 $1,449 48.20%
7 Lake Worth $36,321 $1,449 47.90%
8 Lauderdale Lakes $33,754 $1,346 47.90%
9 North Miami $39,723 $1,521 45.90%
10 Daytona Beach $30,137 $1,147 45.70%

The Top 10 Most Affordable Places to Own a Home in Florida

The most affordable places to own a home in Florida are on the opposite side of the state – mainly outside the Jacksonville area. Fleming Island – an upper middle class city close to Jacksonville where residents make 3x more than the average Miamian has housing costs cheaper than South Beach. Fruit Cove is also just outside of Jacksonville and residents there pay just a tad bit more than 23% of their income to afford their home.

City Median Income Housing Costs Per Month Affordability Margin
Fleming Island 90,964 $1,748 23.10%
Fruit Cove 101,788 $1,977 23.30%
Wesley Chapel 76,936 $1,533 23.90%
Horizon West 92,605 $1,860 24.10%
Oviedo 84,916 $1,702 24.10%
Lakeside 59,238 $1,199 24.30%
The Villages 61,022 $1,265 24.90%
Oakleaf Plantation 80,681 $1,681 25.00%
Carrollwood 66,441 $1,417 25.60%
Rockledge 61,686 $1,321 25.70%

How Every City Ranks in Florida

To see how every city with over 25,000 residents in Florida stacks up, explore the table below. In Florida there are over 148 cities with population size over 25,000 encompassing 60% of the total population of the state.

RankCityMedian IncomeHousing Costs Per MonthHome ValuePopulationAffordability Margin
1Miami$33,999$1,858 $271,200 443,00765.60%
2Miami Beach$50,193$2,616 $416,700 92,18762.50%
3Hialeah$31,012$1,348 $174,300 237,52352.20%
4Key West$62,052$2,656 $535,600 25,31651.40%
5Fort Pierce$28,025$1,157 $91,400 44,24849.50%
6Hallandale Beach$36,072$1,449 $174,400 39,28548.20%
7Lake Worth$36,321$1,449 $165,600 37,35447.90%
8Lauderdale Lakes$33,754$1,346 $101,600 34,74447.90%
9North Miami$39,723$1,521 $167,700 62,30845.90%
10Daytona Beach$30,137$1,147 $126,300 65,33945.70%
11Golden Glades$40,968$1,549 $166,700 34,06245.40%
12University (Hillsborough County), $25,752$967$83,800 44,97945.10%
13University Park$44,757$1,659 $266,900 26,56544.50%
14Gainesville$34,004$1,257 $147,500 129,39444.40%
15Fort Lauderdale$52,315$1,925 $297,200 177,17544.20%
16Westchester$48,018$1,754 $276,600 30,51643.80%
17Leisure City$32,770$1,191 $120,300 27,38943.60%
18Aventura$57,388$2,065 $325,400 37,87543.20%
19Lauderhill$38,805$1,387 $114,500 70,96342.90%
20West Little River$34,223$1,211 $119,900 32,43342.50%
21Coral Gables$96,887$3,410 $750,400 50,90942.20%
22North Miami Beach$40,316$1,412 $170,100 43,96342.00%
23South Miami Heights$39,825$1,381 $179,500 39,31241.60%
24Miami Gardens$41,139$1,419 $155,700 113,18741.40%
25Tamiami$49,992$1,715 $251,900 58,25041.20%
26Fort Myers$41,591$1,426 $185,100 73,71241.10%
27Dania Beach$42,936$1,469 $174,700 31,52641.10%
28Winter Park$68,078$2,326 $371,300 29,92241.00%
29Homestead$43,150$1,468 $166,700 67,35440.80%
30Panama City$40,114$1,359 $147,300 36,66140.70%
31Country Club$42,319$1,421 $185,100 49,20740.30%
32Tallahassee$42,418$1,403 $185,100 188,46339.70%
33Hollywood$50,019$1,652 $217,100 149,75039.60%
34Orlando$45,436$1,499 $196,900 269,41439.60%
35Pompano Beach$44,756$1,476 $178,100 107,54239.60%
36Riviera Beach$42,840$1,400 $156,300 34,09339.20%
37University (Orange County), $40,194$1,306 $158,400 35,64239.00%
38Deerfield Beach$44,142$1,430 $142,600 79,46838.90%
39Kissimmee$38,353$1,239 $149,800 68,17638.80%
40West Palm Beach$49,054$1,579 $218,200 106,80538.60%
41Immokalee$29,308$941$99,700 25,68638.50%
42Delray Beach$53,233$1,692 $240,800 66,45338.10%
43Margate$43,782$1,387 $157,400 57,04538.00%
44Clearwater$45,631$1,437 $172,900 112,79437.80%
45Tampa$48,245$1,518 $190,300 368,08737.80%
46DeLand$39,902$1,251 $172,700 30,31537.60%
47North Lauderdale$41,841$1,308 $126,600 43,57437.50%
48Largo$41,008$1,278 $108,400 82,43337.40%
49Davie town, $64,170$1,989 $240,500 101,54337.20%
50Boca Raton$76,218$2,330 $401,000 93,96436.70%
51Coconut Creek$56,556$1,707 $168,000 59,15436.20%
52Oakland Park$48,390$1,453 $174,900 44,08536.00%
53Pine Hills$37,932$1,138 $107,100 73,44436.00%
54Ocala$39,238$1,177 $121,800 57,81236.00%
55Tamarac$45,474$1,364 $140,100 64,26236.00%
56Coral Springs$70,768$2,117 $313,500 130,11035.90%
57Sarasota$45,073$1,343 $215,100 55,10335.80%
58Princeton$50,483$1,504 $193,700 28,20135.80%
59North Fort Myers$39,876$1,187 $82,300 40,91635.70%
60Kendale Lakes$52,775$1,569 $211,700 59,81235.70%
61Sunrise$53,237$1,567 $165,500 92,27235.30%
62Kendall West$49,518$1,453 $199,200 39,95235.20%
63Boynton Beach$50,561$1,474 $164,300 74,48335.00%
64Doral$76,184$2,215 $349,800 56,27634.90%
65Kendall$69,277$2,003 $337,400 75,12334.70%
66Miramar$66,560$1,919 $264,200 136,41534.60%
67Egypt Lake-Leto$39,985$1,149 $136,900 36,96434.50%
68New Smyrna Beach$52,953$1,518 $230,800 25,10334.40%
69Pinellas Park$42,106$1,206 $128,600 51,78834.40%
70Miami Lakes town, $72,545$2,075 $345,400 31,03234.30%
71Pembroke Pines$65,805$1,870 $245,900 166,53034.10%
72Greenacres$46,681$1,323 $136,600 39,82734.00%
73Winter Haven$41,790$1,182 $121,600 38,66333.90%
74Dunedin$46,563$1,314 $161,100 36,09933.90%
75Golden Gate$43,778$1,231 $180,800 29,84133.70%
76Plantation$69,531$1,949 $292,700 92,12633.60%
77Winter Garden$66,349$1,850 $262,300 40,79933.50%
78Lakeland$42,033$1,170 $119,700 104,16533.40%
79Bradenton$42,902$1,194 $150,400 53,65433.40%
80East Lake-Orient Park$37,242$1,036 $101,000 26,98933.40%
81Melbourne$43,159$1,199 $138,800 79,64033.30%
82The Hammocks$65,211$1,801 $262,800 58,97633.10%
83Merritt Island$56,344$1,552 $219,500 36,38033.10%
84Pensacola$46,569$1,280 $155,700 52,68933.00%
85Palm Harbor$55,145$1,515 $194,700 61,55333.00%
86Poinciana$42,590$1,170 $152,600 66,46533.00%
87Weston$96,173$2,641 $442,600 69,80233.00%
88Fountainebleau$45,489$1,238 $159,300 59,25532.70%
89St. Petersburg$50,622$1,373 $165,000 256,03132.50%
90Port Charlotte$41,169$1,109 $137,800 59,65432.30%
91Ferry Pass$43,720$1,175 $133,400 33,53232.30%
92Bonita Springs$62,017$1,647 $269,900 51,89031.90%
93Estero village, $72,999$1,922 $309,500 31,51031.60%
94Buenaventura Lakes$45,194$1,189 $151,700 33,59831.60%
95Casselberry$42,438$1,116 $110,400 27,08731.60%
96Lake Magdalene$57,036$1,497 $208,800 29,18431.50%
97Ormond Beach$51,152$1,342 $176,900 41,23831.50%
98Titusville$42,561$1,111 $112,000 44,98431.30%
99Jacksonville$50,555$1,319 $150,200 867,31331.30%
100Wellington village, $85,172$2,201 $349,700 62,79631.00%
101Cape Coral$53,653$1,383 $196,800 173,67930.90%
102Sanford$42,025$1,074 $113,100 57,97930.70%
103Plant City$48,504$1,233 $144,100 37,45930.50%
104Port Orange$48,478$1,219 $153,600 60,31530.20%
105Clermont$57,804$1,448 $197,200 32,21730.10%
106Jupiter town, $79,731$1,991 $328,900 62,37330.00%
107Meadow Woods$55,549$1,387 $174,600 33,68830.00%
108Temple Terrace$58,634$1,462 $188,000 25,85329.90%
109Port St. Lucie$54,046$1,347 $162,700 178,77829.90%
110Four Corners$53,750$1,330 $156,500 37,43929.70%
111Parkland$131,525$3,254 $548,400 28,90129.70%
112East Lake$81,043$2,004 $312,000 32,24829.70%
113Cutler Bay town, $70,473$1,742 $235,000 44,72129.70%
114Deltona$46,121$1,138 $119,600 88,00529.60%
115Altamonte Springs$50,207$1,222 $151,600 43,08429.20%
116Bayonet Point$36,616$884$74,100 26,12629.00%
117Ocoee$66,035$1,589 $205,800 43,19428.90%
118Alafaya$68,272$1,641 $228,300 88,02528.80%
119Town 'n' Country$52,929$1,259 $146,800 83,87928.50%
120Palm Beach Gardens$77,864$1,834 $334,800 53,11928.30%
121St. Cloud$53,544$1,258 $159,400 46,62428.20%
122Richmond West$74,284$1,744 $250,200 36,89828.20%
123Palm Coast$51,208$1,201 $181,400 82,35628.10%
124Winter Springs$65,908$1,539 $227,200 35,05028.00%
125Royal Palm Beach village, $73,296$1,701 $232,700 37,66527.80%
126Spring Hill$45,468$1,052 $122,900 104,72227.80%
127Cooper City$98,029$2,265 $346,800 35,08127.70%
128Palm Bay$45,811$1,048 $119,200 107,80227.50%
129Apopka$59,869$1,366 $189,500 48,68227.40%
130Valrico$72,772$1,655 $211,200 37,54627.30%
131Citrus Park$65,743$1,494 $190,300 25,99427.30%
132Brandon$59,054$1,333 $164,600 113,12427.10%
133Lehigh Acres$44,649$991$119,900 116,84926.60%
134Navarre$69,364$1,519 $211,100 34,08526.30%
135The Acreage$82,715$1,797 $255,300 38,84526.10%
136Riverview$68,442$1,480 $183,400 88,19125.90%
137North Port$54,687$1,178 $162,300 62,54225.80%
138Land O' Lakes$72,978$1,571 $209,600 35,99525.80%
139Rockledge$61,686$1,321 $162,000 26,49725.70%
140Carrollwood$66,441$1,417 $211,200 34,74725.60%
141Oakleaf Plantation$80,681$1,681 $198,500 26,31525.00%
142The Villages$61,022$1,265 $263,700 74,61824.90%
143Lakeside$59,238$1,199 $152,900 30,98324.30%
144Horizon West$92,605$1,860 $291,700 25,36524.10%
145Oviedo$84,916$1,702 $256,400 38,65524.10%
146Wesley Chapel$76,936$1,533 $197,800 53,41423.90%
147Fruit Cove$101,788$1,977 $310,600 31,87323.30%
148Fleming Island$90,964$1,748 $242,700 29,16323.10%

Methodology

To find the least and most affordable cities in Florida we turned to the 2017 American Community Survey. We pulled data from the Housing survey as well as the Economic survey to get a fuller picture on home owner affordability in every CDP in Florida. We then filtered for only CDPs with greater than 25,000 people. To get the affordability margin we took the median monthly housing costs which include mortgage, insurance and tax costs and multiplied by 12. We then divided that amount by the median income for each CDP.

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