Finding a home that meets your needs without breaking the bank can be a serious challenge. State-wide, Florida has a median home value of $232,000. When you add in maintenance costs and property taxes, it can be difficult for many to buy and own a home.
That's why we've compiled a list of affordable cities in Florida to help you find a new place to live. All of these places are more affordable than average, meaning you can get more bang for your buck.
Looking for the most affordable places in Florida is a start, but you'll save even more money by working with a great agent.
The top Florida real estate agents know the local market and where to find pockets of more affordable homes. They can also help negotiate a better price when you do find your dream home.
At Clever Real Estate, we can match you with agents in any area you're interested in — even multiple areas at the same time. You can interview as many agents as you like until you find the perfect place to call home — all at no cost or obligation to you.
Most affordable cities in Florida
Whether you're looking for a quiet small town or a trendy suburban neighborhood, it's possible to locate pockets of affordability throughout Florida.
Here are our top picks for Florida residents on a budget:
1. Palm Bay
Palm Bay is home to the “Space Coast” that includes large islands and coastal communities. This area got its nickname because the John F. Kennedy Space Center and Cape Canaveral are in the Northern area of the islands.
The median home sale price according to Zillow is $177,200, contrarily the median listing price is $195,000. Palm Bay’s median sale price makes it the most affordable place in our list.
Homes in this area appreciated at a 5.9% rate in 2018. In 2019, real estate experts forecast a rise in home value of 2.6%.
This housing market is leaning toward buyers, making it favorable for buyers to secure a great deal. The affordability, home value appreciation rates, and proximity to the coast make it ideal for home buyers looking for a coastal lifestyle while staying within your budget.
While Gainesville is home to the University of Florida, being a college town isn’t its only major feature. The city continues to expand its museums and theaters to offer more amenities for its residents.
Gainesville’s median sale price is $194,600, by contrast the median listing price is $235,000. Home values in this market appreciated at a 6.1% rate in 2018. Home experts expect an appreciation in home values of 3.7% in 2019.
The Gainesville housing market leans toward sellers as of 2019. The city prioritizes its historical landmarks through their preservation efforts of Ginnie Springs. Current market conditions might complicate finding a great deal on a house, but the promising home value appreciation rates and amenities make it a great option for any home buyer.
Even after you've found a more affordable place to live in Florida, moving there can be expensive. By working with a Clever Partner Agent, you'll have an expert in your corner and you may be able to take advantage of Clever Cash Back.
When you buy a home with a Clever agent, you might be eligible for up to 0.5% cash back to use on anything you want. For the average home value of $232,000, you'd pocket $1,160 to help you move (or splurge on a great housewarming gift for yourself).
3. Vero Beach
Vero Beach is one of the most affordable beachside areas in Florida. This place offers a variety of culture and beaches. This city is near all the action in West Palm Beach.
The median home sale price of Vero Beach homes is $205,000 while the median listing price is $291,900. In 2018, Vero Beach homes appreciated at a 5.3% rate.
Real estate experts forecast a rise in home value of 1.0% in 2019. Since this housing market isn’t leaning toward the buyer or seller, you may still be able to secure a great deal on a home.
Vero Beach is home to the Vero Beach Museum of Art, McKee Botanical Garden, Pelican Island National Wildlife Refuge, among other amenities. Housing market conditions, beach life, and location near West Palm make it ideal for home buyers looking for affordable coastal living.
If you’re looking to live near one of the best amusement parks in the United States, Kissimmee may be your best option. This area is near Walt Disney World, SeaWorld, Universal Studios, among other family-friendly entertainment venues.
Kissimmee’s median home sale price is $225,300, while the median listing price is $255,990. Homes in this market appreciated by 10.6% in 2018.
In 2019, experts expect a rise in home value of 5.3%. This housing market is favorable for buyers making it easy to score a great deal on a home.
This city has easy access to all major highways, easing your commute to work. While Kissimmee isn’t the most affordable place in our list, its amenities and appreciation make it the best family-friendly option.
5. Cape Coral
Cape Coral is the largest city between Miami and Tampa. This area is a hub for fishing and boating in the Sunshine State.
The median sale price for Cape Coral homes is $234,600 while the median listing price is $262,200. In 2018, homes in this housing market appreciated by 2.3%.
Home experts forecast a depreciation in home values of 0.4% within 2019. Currently, it’s a cool buyer’s market — making a coastal lifestyle more affordable in this area.
Amenities like the Cape Coral Yacht, Useppa Island, Four Mile Cove Ecological Preserve, among others make it ideal for home buyers looking for an active lifestyle. The potential home value depreciation might make you think twice about buying a home in this area, its amenities, location, and city size make it a great place to live your own beach life.
The benefits of a great real estate agent
If you're just researching affordable places to live, you might wonder why you need a real estate agent. They're the ones that help you once you've already decided on a house, right?
Not necessarily. The truth is, it's never too early to start looking for an agent. In fact, talking to a realtor early on in the process can help you narrow down your options much faster than doing research on your own.
A real estate agent's job is to know everything about their local area. They'll find the best deals in desirable neighborhoods — and might just help you snag your dream home for an affordable price. Let a Clever agent help you discover your options today — all while you enjoy 0.5% cash back!
Frequently asked questions about affordable places to live in Florida
In addition to shopping in some of the most affordable areas, you'll want to work with an experienced real estate agent. They can find you hidden gems at low price points. A good agent can also negotiate like a pro to get you a lower sale price and more buyer incentives. You may also be able to take advantage of home buyer rebates.
We recommend using the 28/36 rule to know how much house you can afford. This means your housing expenses shouldn't exceed 28% of your income, and all of your total debt shouldn't exceed 36%. Learn more about how to calculate your home buying budget.