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.

Rank	City	Median Income	Housing Costs Per Month	Home Value	Population	Affordability Margin
1	Miami	$33,999	$1,858	$271,200	443,007	65.60%
2	Miami Beach	$50,193	$2,616	$416,700	92,187	62.50%
3	Hialeah	$31,012	$1,348	$174,300	237,523	52.20%
4	Key West	$62,052	$2,656	$535,600	25,316	51.40%
5	Fort Pierce	$28,025	$1,157	$91,400	44,248	49.50%
6	Hallandale Beach	$36,072	$1,449	$174,400	39,285	48.20%
7	Lake Worth	$36,321	$1,449	$165,600	37,354	47.90%
8	Lauderdale Lakes	$33,754	$1,346	$101,600	34,744	47.90%
9	North Miami	$39,723	$1,521	$167,700	62,308	45.90%
10	Daytona Beach	$30,137	$1,147	$126,300	65,339	45.70%
11	Golden Glades	$40,968	$1,549	$166,700	34,062	45.40%
12	University (Hillsborough County),	$25,752	$967	$83,800	44,979	45.10%
13	University Park	$44,757	$1,659	$266,900	26,565	44.50%
14	Gainesville	$34,004	$1,257	$147,500	129,394	44.40%
15	Fort Lauderdale	$52,315	$1,925	$297,200	177,175	44.20%
16	Westchester	$48,018	$1,754	$276,600	30,516	43.80%
17	Leisure City	$32,770	$1,191	$120,300	27,389	43.60%
18	Aventura	$57,388	$2,065	$325,400	37,875	43.20%
19	Lauderhill	$38,805	$1,387	$114,500	70,963	42.90%
20	West Little River	$34,223	$1,211	$119,900	32,433	42.50%
21	Coral Gables	$96,887	$3,410	$750,400	50,909	42.20%
22	North Miami Beach	$40,316	$1,412	$170,100	43,963	42.00%
23	South Miami Heights	$39,825	$1,381	$179,500	39,312	41.60%
24	Miami Gardens	$41,139	$1,419	$155,700	113,187	41.40%
25	Tamiami	$49,992	$1,715	$251,900	58,250	41.20%
26	Fort Myers	$41,591	$1,426	$185,100	73,712	41.10%
27	Dania Beach	$42,936	$1,469	$174,700	31,526	41.10%
28	Winter Park	$68,078	$2,326	$371,300	29,922	41.00%
29	Homestead	$43,150	$1,468	$166,700	67,354	40.80%
30	Panama City	$40,114	$1,359	$147,300	36,661	40.70%
31	Country Club	$42,319	$1,421	$185,100	49,207	40.30%
32	Tallahassee	$42,418	$1,403	$185,100	188,463	39.70%
33	Hollywood	$50,019	$1,652	$217,100	149,750	39.60%
34	Orlando	$45,436	$1,499	$196,900	269,414	39.60%
35	Pompano Beach	$44,756	$1,476	$178,100	107,542	39.60%
36	Riviera Beach	$42,840	$1,400	$156,300	34,093	39.20%
37	University (Orange County),	$40,194	$1,306	$158,400	35,642	39.00%
38	Deerfield Beach	$44,142	$1,430	$142,600	79,468	38.90%
39	Kissimmee	$38,353	$1,239	$149,800	68,176	38.80%
40	West Palm Beach	$49,054	$1,579	$218,200	106,805	38.60%
41	Immokalee	$29,308	$941	$99,700	25,686	38.50%
42	Delray Beach	$53,233	$1,692	$240,800	66,453	38.10%
43	Margate	$43,782	$1,387	$157,400	57,045	38.00%
44	Clearwater	$45,631	$1,437	$172,900	112,794	37.80%
45	Tampa	$48,245	$1,518	$190,300	368,087	37.80%
46	DeLand	$39,902	$1,251	$172,700	30,315	37.60%
47	North Lauderdale	$41,841	$1,308	$126,600	43,574	37.50%
48	Largo	$41,008	$1,278	$108,400	82,433	37.40%
49	Davie town,	$64,170	$1,989	$240,500	101,543	37.20%
50	Boca Raton	$76,218	$2,330	$401,000	93,964	36.70%
51	Coconut Creek	$56,556	$1,707	$168,000	59,154	36.20%
52	Oakland Park	$48,390	$1,453	$174,900	44,085	36.00%
53	Pine Hills	$37,932	$1,138	$107,100	73,444	36.00%
54	Ocala	$39,238	$1,177	$121,800	57,812	36.00%
55	Tamarac	$45,474	$1,364	$140,100	64,262	36.00%
56	Coral Springs	$70,768	$2,117	$313,500	130,110	35.90%
57	Sarasota	$45,073	$1,343	$215,100	55,103	35.80%
58	Princeton	$50,483	$1,504	$193,700	28,201	35.80%
59	North Fort Myers	$39,876	$1,187	$82,300	40,916	35.70%
60	Kendale Lakes	$52,775	$1,569	$211,700	59,812	35.70%
61	Sunrise	$53,237	$1,567	$165,500	92,272	35.30%
62	Kendall West	$49,518	$1,453	$199,200	39,952	35.20%
63	Boynton Beach	$50,561	$1,474	$164,300	74,483	35.00%
64	Doral	$76,184	$2,215	$349,800	56,276	34.90%
65	Kendall	$69,277	$2,003	$337,400	75,123	34.70%
66	Miramar	$66,560	$1,919	$264,200	136,415	34.60%
67	Egypt Lake-Leto	$39,985	$1,149	$136,900	36,964	34.50%
68	New Smyrna Beach	$52,953	$1,518	$230,800	25,103	34.40%
69	Pinellas Park	$42,106	$1,206	$128,600	51,788	34.40%
70	Miami Lakes town,	$72,545	$2,075	$345,400	31,032	34.30%
71	Pembroke Pines	$65,805	$1,870	$245,900	166,530	34.10%
72	Greenacres	$46,681	$1,323	$136,600	39,827	34.00%
73	Winter Haven	$41,790	$1,182	$121,600	38,663	33.90%
74	Dunedin	$46,563	$1,314	$161,100	36,099	33.90%
75	Golden Gate	$43,778	$1,231	$180,800	29,841	33.70%
76	Plantation	$69,531	$1,949	$292,700	92,126	33.60%
77	Winter Garden	$66,349	$1,850	$262,300	40,799	33.50%
78	Lakeland	$42,033	$1,170	$119,700	104,165	33.40%
79	Bradenton	$42,902	$1,194	$150,400	53,654	33.40%
80	East Lake-Orient Park	$37,242	$1,036	$101,000	26,989	33.40%
81	Melbourne	$43,159	$1,199	$138,800	79,640	33.30%
82	The Hammocks	$65,211	$1,801	$262,800	58,976	33.10%
83	Merritt Island	$56,344	$1,552	$219,500	36,380	33.10%
84	Pensacola	$46,569	$1,280	$155,700	52,689	33.00%
85	Palm Harbor	$55,145	$1,515	$194,700	61,553	33.00%
86	Poinciana	$42,590	$1,170	$152,600	66,465	33.00%
87	Weston	$96,173	$2,641	$442,600	69,802	33.00%
88	Fountainebleau	$45,489	$1,238	$159,300	59,255	32.70%
89	St. Petersburg	$50,622	$1,373	$165,000	256,031	32.50%
90	Port Charlotte	$41,169	$1,109	$137,800	59,654	32.30%
91	Ferry Pass	$43,720	$1,175	$133,400	33,532	32.30%
92	Bonita Springs	$62,017	$1,647	$269,900	51,890	31.90%
93	Estero village,	$72,999	$1,922	$309,500	31,510	31.60%
94	Buenaventura Lakes	$45,194	$1,189	$151,700	33,598	31.60%
95	Casselberry	$42,438	$1,116	$110,400	27,087	31.60%
96	Lake Magdalene	$57,036	$1,497	$208,800	29,184	31.50%
97	Ormond Beach	$51,152	$1,342	$176,900	41,238	31.50%
98	Titusville	$42,561	$1,111	$112,000	44,984	31.30%
99	Jacksonville	$50,555	$1,319	$150,200	867,313	31.30%
100	Wellington village,	$85,172	$2,201	$349,700	62,796	31.00%
101	Cape Coral	$53,653	$1,383	$196,800	173,679	30.90%
102	Sanford	$42,025	$1,074	$113,100	57,979	30.70%
103	Plant City	$48,504	$1,233	$144,100	37,459	30.50%
104	Port Orange	$48,478	$1,219	$153,600	60,315	30.20%
105	Clermont	$57,804	$1,448	$197,200	32,217	30.10%
106	Jupiter town,	$79,731	$1,991	$328,900	62,373	30.00%
107	Meadow Woods	$55,549	$1,387	$174,600	33,688	30.00%
108	Temple Terrace	$58,634	$1,462	$188,000	25,853	29.90%
109	Port St. Lucie	$54,046	$1,347	$162,700	178,778	29.90%
110	Four Corners	$53,750	$1,330	$156,500	37,439	29.70%
111	Parkland	$131,525	$3,254	$548,400	28,901	29.70%
112	East Lake	$81,043	$2,004	$312,000	32,248	29.70%
113	Cutler Bay town,	$70,473	$1,742	$235,000	44,721	29.70%
114	Deltona	$46,121	$1,138	$119,600	88,005	29.60%
115	Altamonte Springs	$50,207	$1,222	$151,600	43,084	29.20%
116	Bayonet Point	$36,616	$884	$74,100	26,126	29.00%
117	Ocoee	$66,035	$1,589	$205,800	43,194	28.90%
118	Alafaya	$68,272	$1,641	$228,300	88,025	28.80%
119	Town 'n' Country	$52,929	$1,259	$146,800	83,879	28.50%
120	Palm Beach Gardens	$77,864	$1,834	$334,800	53,119	28.30%
121	St. Cloud	$53,544	$1,258	$159,400	46,624	28.20%
122	Richmond West	$74,284	$1,744	$250,200	36,898	28.20%
123	Palm Coast	$51,208	$1,201	$181,400	82,356	28.10%
124	Winter Springs	$65,908	$1,539	$227,200	35,050	28.00%
125	Royal Palm Beach village,	$73,296	$1,701	$232,700	37,665	27.80%
126	Spring Hill	$45,468	$1,052	$122,900	104,722	27.80%
127	Cooper City	$98,029	$2,265	$346,800	35,081	27.70%
128	Palm Bay	$45,811	$1,048	$119,200	107,802	27.50%
129	Apopka	$59,869	$1,366	$189,500	48,682	27.40%
130	Valrico	$72,772	$1,655	$211,200	37,546	27.30%
131	Citrus Park	$65,743	$1,494	$190,300	25,994	27.30%
132	Brandon	$59,054	$1,333	$164,600	113,124	27.10%
133	Lehigh Acres	$44,649	$991	$119,900	116,849	26.60%
134	Navarre	$69,364	$1,519	$211,100	34,085	26.30%
135	The Acreage	$82,715	$1,797	$255,300	38,845	26.10%
136	Riverview	$68,442	$1,480	$183,400	88,191	25.90%
137	North Port	$54,687	$1,178	$162,300	62,542	25.80%
138	Land O' Lakes	$72,978	$1,571	$209,600	35,995	25.80%
139	Rockledge	$61,686	$1,321	$162,000	26,497	25.70%
140	Carrollwood	$66,441	$1,417	$211,200	34,747	25.60%
141	Oakleaf Plantation	$80,681	$1,681	$198,500	26,315	25.00%
142	The Villages	$61,022	$1,265	$263,700	74,618	24.90%
143	Lakeside	$59,238	$1,199	$152,900	30,983	24.30%
144	Horizon West	$92,605	$1,860	$291,700	25,365	24.10%
145	Oviedo	$84,916	$1,702	$256,400	38,655	24.10%
146	Wesley Chapel	$76,936	$1,533	$197,800	53,414	23.90%
147	Fruit Cove	$101,788	$1,977	$310,600	31,873	23.30%
148	Fleming Island	$90,964	$1,748	$242,700	29,163	23.10%

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.