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How Much Does It Cost To Buy A Home In Florida?

How Much Does It Cost To Buy A Home In Florida

If You Are Looking At Central Florida Homes, You May Have Already Wondered: How Much Does It Cost To Buy A Home In Florida?

As in any purchase, the cost is a deciding factor. So, before you deep dive into the Sunshine Coast’s real estate market, a key question you should be asking is: How much does it cost to buy a home in Florida?

According to one source, the average home value in Florida is $252,309. Over the past year, the cost of homes in Florida went up by 3.6%. The median list price per square foot is $170. The median listing price is $299,000 while the average cost of a home in Florida is $247,600.

Another list that ranks U.S. states based on the cost of buying a house puts Florida at number 20 out of 50 states.

The median cost per square foot has been on the rise in all states. In Florida, it went up 40.8% from $118 in March 2014 to $166 in March 2019. But when you look at it in the last two years (2017-2019), the growth in price per square foot of Florida homes for sale is lower than the national average of 12.4% (2017-2019) and 6.1% (2018-2019). In short, the slower growth rate is a good sign for potential buyers who are looking to Florida for an investment or a residential property.

Perks Of Living In Florida

  • When calculating the long-term cost of owning a home in Florida, you should consider the fact that there is no state income tax. This means no income, inheritance, or estate tax. When you retire, you do not have to pay tax on your pension and retirement income. For homeowners, the average property tax rate is at 1.02% which is less than the U.S. average.
  • In Florida, driving is the best way to get around. The average gas price is $2.76 per gallon. This is below the national average which is at $2.89.
  • The Sunshine State is so named because of its beautiful year-round weather which is conducive to many outdoor activities including golfing and beach-hopping. Florida is a great choice if you want to invest in seaside luxury homes because of its breathtaking sceneries.
  • Florida has diverse communities. It’s a top choice for retirees, families and university students. The robust local economy also attracts many young professionals.

Ready To Find Your Central Florida Dream Home?

When people think of Central Florida, Orlando is the first place that comes to mind. And it is easy to understand why. Orlando is known to the world as home to famous theme parks. There are plenty of recreational destinations and as residents, you do not have to travel far to visit them. There is always something to explore on weekends.

The cost of living in Orlando is 3% lower than the rest of Florida. It is also a major travel hub, with three airports and various train lines.

Orlando is, without a doubt, an amazing choice if you want to settle down in the Sunshine State. But there are more choices in Central Florida, especially if you are looking to live away from the hustle and bustle of bigger cities or if you want to be closer to nature.

Enjoy the small-town vibe of Harmony or Saint Cloud. Or live in luxury at Lake Nona. We can help you find a home that best suits your needs or your budget. Give us a call now and let’s get started.

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