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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.

 

RankCityMedian IncomeHousing Costs Per MonthAffordability Margin
1Miami$33,999$1,85865.60%
2Miami Beach$50,193$2,61662.50%
3Hialeah$31,012$1,34852.20%
4Key West$62,052$2,65651.40%
5Fort Pierce$28,025$1,15749.50%
6Hallandale Beach$36,072$1,44948.20%
7Lake Worth$36,321$1,44947.90%
8Lauderdale Lakes$33,754$1,34647.90%
9North Miami$39,723$1,52145.90%
10Daytona Beach$30,137$1,14745.70%

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.

CityMedian IncomeHousing Costs Per MonthAffordability Margin
Fleming Island90,964$1,74823.10%
Fruit Cove101,788$1,97723.30%
Wesley Chapel76,936$1,53323.90%
Horizon West92,605$1,86024.10%
Oviedo84,916$1,70224.10%
Lakeside59,238$1,19924.30%
The Villages61,022$1,26524.90%
Oakleaf Plantation80,681$1,68125.00%
Carrollwood66,441$1,41725.60%
Rockledge61,686$1,32125.70%

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$271,200443,00765.60%
2Miami Beach$50,193$2,616$416,70092,18762.50%
3Hialeah$31,012$1,348$174,300237,52352.20%
4Key West$62,052$2,656$535,60025,31651.40%
5Fort Pierce$28,025$1,157$91,40044,24849.50%
6Hallandale Beach$36,072$1,449$174,40039,28548.20%
7Lake Worth$36,321$1,449$165,60037,35447.90%
8Lauderdale Lakes$33,754$1,346$101,60034,74447.90%
9North Miami$39,723$1,521$167,70062,30845.90%
10Daytona Beach$30,137$1,147$126,30065,33945.70%
11Golden Glades$40,968$1,549$166,70034,06245.40%
12University (Hillsborough County),$25,752$967$83,80044,97945.10%
13University Park$44,757$1,659$266,90026,56544.50%
14Gainesville$34,004$1,257$147,500129,39444.40%
15Fort Lauderdale$52,315$1,925$297,200177,17544.20%
16Westchester$48,018$1,754$276,60030,51643.80%
17Leisure City$32,770$1,191$120,30027,38943.60%
18Aventura$57,388$2,065$325,40037,87543.20%
19Lauderhill$38,805$1,387$114,50070,96342.90%
20West Little River$34,223$1,211$119,90032,43342.50%
21Coral Gables$96,887$3,410$750,40050,90942.20%
22North Miami Beach$40,316$1,412$170,10043,96342.00%
23South Miami Heights$39,825$1,381$179,50039,31241.60%
24Miami Gardens$41,139$1,419$155,700113,18741.40%
25Tamiami$49,992$1,715$251,90058,25041.20%
26Fort Myers$41,591$1,426$185,10073,71241.10%
27Dania Beach$42,936$1,469$174,70031,52641.10%
28Winter Park$68,078$2,326$371,30029,92241.00%
29Homestead$43,150$1,468$166,70067,35440.80%
30Panama City$40,114$1,359$147,30036,66140.70%
31Country Club$42,319$1,421$185,10049,20740.30%
32Tallahassee$42,418$1,403$185,100188,46339.70%
33Hollywood$50,019$1,652$217,100149,75039.60%
34Orlando$45,436$1,499$196,900269,41439.60%
35Pompano Beach$44,756$1,476$178,100107,54239.60%
36Riviera Beach$42,840$1,400$156,30034,09339.20%
37University (Orange County),$40,194$1,306$158,40035,64239.00%
38Deerfield Beach$44,142$1,430$142,60079,46838.90%
39Kissimmee$38,353$1,239$149,80068,17638.80%
40West Palm Beach$49,054$1,579$218,200106,80538.60%
41Immokalee$29,308$941$99,70025,68638.50%
42Delray Beach$53,233$1,692$240,80066,45338.10%
43Margate$43,782$1,387$157,40057,04538.00%
44Clearwater$45,631$1,437$172,900112,79437.80%
45Tampa$48,245$1,518$190,300368,08737.80%
46DeLand$39,902$1,251$172,70030,31537.60%
47North Lauderdale$41,841$1,308$126,60043,57437.50%
48Largo$41,008$1,278$108,40082,43337.40%
49Davie town,$64,170$1,989$240,500101,54337.20%
50Boca Raton$76,218$2,330$401,00093,96436.70%
51Coconut Creek$56,556$1,707$168,00059,15436.20%
52Oakland Park$48,390$1,453$174,90044,08536.00%
53Pine Hills$37,932$1,138$107,10073,44436.00%
54Ocala$39,238$1,177$121,80057,81236.00%
55Tamarac$45,474$1,364$140,10064,26236.00%
56Coral Springs$70,768$2,117$313,500130,11035.90%
57Sarasota$45,073$1,343$215,10055,10335.80%
58Princeton$50,483$1,504$193,70028,20135.80%
59North Fort Myers$39,876$1,187$82,30040,91635.70%
60Kendale Lakes$52,775$1,569$211,70059,81235.70%
61Sunrise$53,237$1,567$165,50092,27235.30%
62Kendall West$49,518$1,453$199,20039,95235.20%
63Boynton Beach$50,561$1,474$164,30074,48335.00%
64Doral$76,184$2,215$349,80056,27634.90%
65Kendall$69,277$2,003$337,40075,12334.70%
66Miramar$66,560$1,919$264,200136,41534.60%
67Egypt Lake-Leto$39,985$1,149$136,90036,96434.50%
68New Smyrna Beach$52,953$1,518$230,80025,10334.40%
69Pinellas Park$42,106$1,206$128,60051,78834.40%
70Miami Lakes town,$72,545$2,075$345,40031,03234.30%
71Pembroke Pines$65,805$1,870$245,900166,53034.10%
72Greenacres$46,681$1,323$136,60039,82734.00%
73Winter Haven$41,790$1,182$121,60038,66333.90%
74Dunedin$46,563$1,314$161,10036,09933.90%
75Golden Gate$43,778$1,231$180,80029,84133.70%
76Plantation$69,531$1,949$292,70092,12633.60%
77Winter Garden$66,349$1,850$262,30040,79933.50%
78Lakeland$42,033$1,170$119,700104,16533.40%
79Bradenton$42,902$1,194$150,40053,65433.40%
80East Lake-Orient Park$37,242$1,036$101,00026,98933.40%
81Melbourne$43,159$1,199$138,80079,64033.30%
82The Hammocks$65,211$1,801$262,80058,97633.10%
83Merritt Island$56,344$1,552$219,50036,38033.10%
84Pensacola$46,569$1,280$155,70052,68933.00%
85Palm Harbor$55,145$1,515$194,70061,55333.00%
86Poinciana$42,590$1,170$152,60066,46533.00%
87Weston$96,173$2,641$442,60069,80233.00%
88Fountainebleau$45,489$1,238$159,30059,25532.70%
89St. Petersburg$50,622$1,373$165,000256,03132.50%
90Port Charlotte$41,169$1,109$137,80059,65432.30%
91Ferry Pass$43,720$1,175$133,40033,53232.30%
92Bonita Springs$62,017$1,647$269,90051,89031.90%
93Estero village,$72,999$1,922$309,50031,51031.60%
94Buenaventura Lakes$45,194$1,189$151,70033,59831.60%
95Casselberry$42,438$1,116$110,40027,08731.60%
96Lake Magdalene$57,036$1,497$208,80029,18431.50%
97Ormond Beach$51,152$1,342$176,90041,23831.50%
98Titusville$42,561$1,111$112,00044,98431.30%
99Jacksonville$50,555$1,319$150,200867,31331.30%
100Wellington village,$85,172$2,201$349,70062,79631.00%
101Cape Coral$53,653$1,383$196,800173,67930.90%
102Sanford$42,025$1,074$113,10057,97930.70%
103Plant City$48,504$1,233$144,10037,45930.50%
104Port Orange$48,478$1,219$153,60060,31530.20%
105Clermont$57,804$1,448$197,20032,21730.10%
106Jupiter town,$79,731$1,991$328,90062,37330.00%
107Meadow Woods$55,549$1,387$174,60033,68830.00%
108Temple Terrace$58,634$1,462$188,00025,85329.90%
109Port St. Lucie$54,046$1,347$162,700178,77829.90%
110Four Corners$53,750$1,330$156,50037,43929.70%
111Parkland$131,525$3,254$548,40028,90129.70%
112East Lake$81,043$2,004$312,00032,24829.70%
113Cutler Bay town,$70,473$1,742$235,00044,72129.70%
114Deltona$46,121$1,138$119,60088,00529.60%
115Altamonte Springs$50,207$1,222$151,60043,08429.20%
116Bayonet Point$36,616$884$74,10026,12629.00%
117Ocoee$66,035$1,589$205,80043,19428.90%
118Alafaya$68,272$1,641$228,30088,02528.80%
119Town 'n' Country$52,929$1,259$146,80083,87928.50%
120Palm Beach Gardens$77,864$1,834$334,80053,11928.30%
121St. Cloud$53,544$1,258$159,40046,62428.20%
122Richmond West$74,284$1,744$250,20036,89828.20%
123Palm Coast$51,208$1,201$181,40082,35628.10%
124Winter Springs$65,908$1,539$227,20035,05028.00%
125Royal Palm Beach village,$73,296$1,701$232,70037,66527.80%
126Spring Hill$45,468$1,052$122,900104,72227.80%
127Cooper City$98,029$2,265$346,80035,08127.70%
128Palm Bay$45,811$1,048$119,200107,80227.50%
129Apopka$59,869$1,366$189,50048,68227.40%
130Valrico$72,772$1,655$211,20037,54627.30%
131Citrus Park$65,743$1,494$190,30025,99427.30%
132Brandon$59,054$1,333$164,600113,12427.10%
133Lehigh Acres$44,649$991$119,900116,84926.60%
134Navarre$69,364$1,519$211,10034,08526.30%
135The Acreage$82,715$1,797$255,30038,84526.10%
136Riverview$68,442$1,480$183,40088,19125.90%
137North Port$54,687$1,178$162,30062,54225.80%
138Land O' Lakes$72,978$1,571$209,60035,99525.80%
139Rockledge$61,686$1,321$162,00026,49725.70%
140Carrollwood$66,441$1,417$211,20034,74725.60%
141Oakleaf Plantation$80,681$1,681$198,50026,31525.00%
142The Villages$61,022$1,265$263,70074,61824.90%
143Lakeside$59,238$1,199$152,90030,98324.30%
144Horizon West$92,605$1,860$291,70025,36524.10%
145Oviedo$84,916$1,702$256,40038,65524.10%
146Wesley Chapel$76,936$1,533$197,80053,41423.90%
147Fruit Cove$101,788$1,977$310,60031,87323.30%
148Fleming Island$90,964$1,748$242,70029,16323.10%

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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