The 33716 zip code in Saint Petersburg tops our ranking of the most affordable places to live in Florida.
We looked at 690 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Florida
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Saint Petersburg 🥇 | 100.0 | $183,536 | $1,797 |
| 2 | Jacksonville 🥈 | 96.4 | $146,335 | $1,345 |
| 3 | Pensacola 🥉 | 94.5 | $137,529 | $1,352 |
| 4 | Tallahassee | 93.1 | $185,494 | $1,498 |
| 5 | Cantonment | 92.4 | $314,086 | $1,593 |
| 6 | Palatka | 86.3 | $195,853 | $1,370 |
| 7 | Lynn Haven | 86.2 | $311,704 | $1,801 |
| 8 | Orange Park | 85.1 | $301,284 | $1,483 |
| 9 | Milton | 84.8 | $266,250 | $1,676 |
| 10 | Sebring | 83.5 | $254,723 | $1,558 |
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1. Saint Petersburg
Here's why the 33716 zip code in Saint Petersburg is Florida's most affordable place to live.
🔎 Key data about Saint Petersburg
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $183,536[1] | No. 16 | -$226,904.66 |
| Home affordability ratio | 2.7 | No. 1 | -3.0 |
| Home value five-year change | 32.6%[2] | No. 3 | -25.7% |
| Home value one-year forecast | 1.7%[3] | No. 393 | 0.1% |
| Rental costs | $1,797[4] | No. 121 | -$456 |
| Rent affordability ratio | 2.62% | No. 138 | -0.5% |
| Median household income | $68,488[5] | No. 330 | -$3,248 |
| Property taxes | $1,147[6] | No. 42 | -$1,626 |
| Energy costs | $0.16 kWh[7] | No. 534 | $0.01 |
Saint Petersburg's 33716 zip code is the cheapest place to live in Florida, leading the 690 markets we evaluated.
The median home value is $183,536, making it the 16th-cheapest housing market in the state. Forecasts project a 1.7% change in home values in the next year. Rent in the zip code averages $1,797 per month, which is the 138th cheapest amount in Florida.
The median property tax for homeowners in Saint Petersburg is $1,147 per household, the No. 42 ranked market in Florida.
Residents pay $0.16 per kWh of electricity, which ranks No. 534 among Florida markets.
2. Jacksonville
The 32208 zip code is the 2nd-cheapest place to live in Florida.
🔎 Key data about Jacksonville
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.4 | No. 2 | N/A |
| Median home value | $146,335[8] | No. 5 | -$264,105.10 |
| Home affordability ratio | 3.703655665 | No. 14 | -2.0 |
| Home value five-year change | 0.3984321306[9] | No. 24 | -18.5% |
| Home value one-year forecast | 1%[10] | No. 78 | -0.6% |
| Rental costs | $1,345[11] | No. 5 | -$908 |
| Rent affordability ratio | 3.40% | No. 471 | 0.3% |
| Median household income | 39511[12] | No. 667 | -$32,225 |
| Property taxes | $908[13] | No. 17 | -$1,865 |
| Energy costs | 0.1408302413 kWh[14] | No. 386 | $0.00 |
Jacksonville's 32208 zip code has a median home value of $146,335, which is the 78th-cheapest housing market in Florida. You can rent for an average of $1,345 per month. That's the 5th-cheapest price in the state.
The average household income in the zip code is 39511, which ranks 667th-highest in the state.
Homeowners in Jacksonville pay a median property tax of $908 per year, making it the 17th-most affordable market in Florida.
Jacksonville ranks No. 386 among Florida energy markets. You'll pay 0.1408302413 per kWh of electricity.
3. Pensacola
The 3rd-cheapest place to live in Florida is Pensacola's 32505 zip code.
🔎 Key data about Pensacola
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 94.5 | No. 3 | N/A |
| Median home value | $137,529[15] | No. 4 | -$272,911.12 |
| Home affordability ratio | 3.466654507 | No. 4 | -2.3 |
| Home value five-year change | 0.6069146051[16] | No. 457 | 2.4% |
| Home value one-year forecast | 1.5%[17] | No. 298 | -0.1% |
| Rental costs | $1,352[18] | No. 6 | -$901 |
| Rent affordability ratio | 3.41% | No. 473 | 0.3% |
| Median household income | 39672[19] | No. 666 | -$32,064 |
| Property taxes | $694[20] | No. 9 | -$2,079 |
| Energy costs | 0.1408302413 kWh[21] | No. 386 | $0.00 |
The No. 4 cheapest housing market in Florida is Pensacola's 32505 zip code, with a median home value of $137,529. Rents in the market average $1,352 per month, making it the 6th-most affordable rental market in the state.
The median property tax for households in Pensacola is $694, which makes it the 9th-cheapest place in Florida. Pensacola ranks No. 386 among Florida markets by energy costs. Residents pay 0.1408302413 per kWh of electricity.
4. Tallahassee
The 32305 zip code in Tallahassee comes in at No. 4 on our list of the cheapest places to live in Florida.
🔎 Key data about Tallahassee
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.1 | No. 4 | N/A |
| Median home value | $185,494[22] | No. 17 | -$224,946.66 |
| Home affordability ratio | 3.778411977 | No. 21 | -1.9 |
| Home value five-year change | 0.3692903216[23] | No. 11 | -21.4% |
| Home value one-year forecast | 0.2%[24] | No. 4 | -1.4% |
| Rental costs | $1,498[25] | No. 27 | -$755 |
| Rent affordability ratio | 3.05% | No. 277 | -0.1% |
| Median household income | 49093[26] | No. 607 | -$22,643 |
| Property taxes | $795[27] | No. 12 | -$1,978 |
| Energy costs | 0.1550899684 kWh[28] | No. 534 | $0.01 |
The No. 17 cheapest housing market in Florida is Tallahassee's 32305 zip code, where the median home value is $185,494. Renters here pay an average of $1,498 per month.
When it comes to energy costs, Tallahassee ranks 534th among Florida markets. Residents pay 0.1550899684 per kWh of electricity.
The median property tax for households in the zip code is $795, which makes it the 12th-cheapest market in Florida.
5. Cantonment
The 32533 zip code in Cantonment ranks No. 5 among Florida's most affordable places to live.
🔎 Key data about Cantonment
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.4 | No. 5 | N/A |
| Median home value | $314,086[29] | No. 219 | -$96,353.87 |
| Home affordability ratio | 3.779664935 | No. 22 | -1.9 |
| Home value five-year change | 0.4746768044[30] | No. 82 | -10.8% |
| Home value one-year forecast | 1.1%[31] | No. 149 | -0.5% |
| Rental costs | $1,593[32] | No. 47 | -$659 |
| Rent affordability ratio | 1.92% | No. 12 | -1.2% |
| Median household income | 83099[33] | No. 180 | $11,363 |
| Property taxes | $1,688[34] | No. 169 | -$1,085 |
| Energy costs | 0.1408302413 kWh[35] | No. 386 | $0.00 |
Cantonment's 32533 zip code has a median home value of $314,086, the 219th-cheapest market in the state. Forecasts project a 1.1% change in home values in the next year.
The median property tax per household in Cantonment is $1,688. It's the 169th-cheapest market by tax rate in Florida.
6. Palatka
The No. 6 most affordable place to live in Florida is the 32177 zip code.
🔎 Key data about Palatka
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 86.3 | No. 6 | N/A |
| Median home value | $195,853[36] | No. 22 | -$214,587.42 |
| Home affordability ratio | 4.308718895 | No. 97 | -1.4 |
| Home value five-year change | 0.4850797585[37] | No. 103 | -9.8% |
| Home value one-year forecast | 1.3%[38] | No. 286 | -0.3% |
| Rental costs | $1,370[39] | No. 7 | -$883 |
| Rent affordability ratio | 3.01% | No. 266 | -0.1% |
| Median household income | 45455[40] | No. 635 | -$26,281 |
| Property taxes | $1,365[41] | No. 88 | -$1,408 |
| Energy costs | 0.1345732279 kWh[42] | No. 1 | -$0.01 |
The back half of our top 10 kicks off with Palatka's 32177 zip code, which has the 22nd-cheapest home values in Florida. The median home value is $195,853. Rents average $1,370 per month, making it the 7th-most affordable rental market in the state.
Residents pay 0.1345732279 per kWh of electricity. It's the 1st-cheapest energy market.
7. Lynn Haven
Lynn Haven's 32444 zip code is the 7th-cheapest place to live in Florida.
🔎 Key data about Lynn Haven
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 86.2 | No. 7 | N/A |
| Median home value | $311,704[43] | No. 216 | -$98,736.07 |
| Home affordability ratio | 3.671729982 | No. 12 | -2.0 |
| Home value five-year change | 0.4636405439[44] | No. 67 | -11.9% |
| Home value one-year forecast | 0.8%[45] | No. 33 | -0.8% |
| Rental costs | $1,801[46] | No. 123 | -$452 |
| Rent affordability ratio | 2.12% | No. 40 | -1.0% |
| Median household income | 84893[47] | No. 162 | $13,157 |
| Property taxes | $1,882[48] | No. 228 | -$891 |
| Energy costs | 0.1408302413 kWh[49] | No. 386 | $0.00 |
You'll find the 216th-cheapest home values in Florida in Lynn Haven's 32444 zip code. The median value: $311,704. Renters in Lynn Haven pay an average of $1,801 per month.
Homeowners in Lynn Haven pay a median property tax of $1,882 per year, which is Florida's 228th-most affordable market.
The average household income is 84893, which ranks 162nd-highest in the state.
8. Orange Park
The 8th-cheapest place to live in Florida is Orange Park's 32073 zip code.
🔎 Key data about Orange Park
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.1 | No. 8 | N/A |
| Median home value | $301,284[50] | No. 187 | -$109,156.49 |
| Home affordability ratio | 4.244927837 | No. 86 | -1.5 |
| Home value five-year change | 0.4856765061[51] | No. 105 | -9.7% |
| Home value one-year forecast | 1%[52] | No. 78 | -0.6% |
| Rental costs | $1,483[53] | No. 25 | -$770 |
| Rent affordability ratio | 2.09% | No. 35 | -1.1% |
| Median household income | 70975[54] | No. 299 | -$761 |
| Property taxes | $1,736[55] | No. 188 | -$1,037 |
| Energy costs | 0.1408302413 kWh[56] | No. 386 | $0.00 |
The 187th-cheapest housing market in Florida is Orange Park's 32073 zip code, with a median home value of $301,284. Renters pay an average of $1,483 per month, the No. 25 rental market in the state.
The median property tax for households in Orange Park is $1,736, which makes it the 188th-cheapest place in Florida. The average household income of 70975 ranks 299th.
9. Milton
Milton's 32570 zip code sneaks into the top ten of Florida's most affordable places to live.
🔎 Key data about Milton
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.8 | No. 9 | N/A |
| Median home value | $266,250[57] | No. 106 | -$144,189.90 |
| Home affordability ratio | 3.785460197 | No. 23 | -1.9 |
| Home value five-year change | 0.5852702171[58] | No. 402 | 0.2% |
| Home value one-year forecast | 1.2%[59] | No. 207 | -0.4% |
| Rental costs | $1,676[60] | No. 77 | -$576 |
| Rent affordability ratio | 2.38% | No. 93 | -0.8% |
| Median household income | 70335[61] | No. 305 | -$1,401 |
| Property taxes | $1,367[62] | No. 89 | -$1,406 |
| Energy costs | 0.1408302413 kWh[63] | No. 386 | $0.00 |
The 106th-cheapest housing market in Florida is Milton's 32570 zip code, where the median home value is $266,250. Renters pay an average of $1,676 per month. It's the state's 77th-cheapest rental market.
The median property tax for households within the zip code is $1,367, which makes it the 89th-cheapest property tax rate in Florida.
10. Sebring
The final spot on our list of the most affordable places to live in Florida goes to the 33872 zip code in Sebring.
🔎 Key data about Sebring
| Data point | Value | Rank (out of 690 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 83.5 | No. 10 | N/A |
| Median home value | $254,723[64] | No. 84 | -$155,717.39 |
| Home affordability ratio | 3.769427725 | No. 20 | -2.0 |
| Home value five-year change | 0.6038737585[65] | No. 450 | 2.1% |
| Home value one-year forecast | 2.9%[66] | No. 679 | 1.3% |
| Rental costs | $1,558[67] | No. 36 | -$695 |
| Rent affordability ratio | 2.30% | No. 81 | -0.8% |
| Median household income | 67576[68] | No. 350 | -$4,160 |
| Property taxes | $1,624[69] | No. 156 | -$1,149 |
| Energy costs | 0.1550899684 kWh[70] | No. 534 | $0.01 |
The 84th-most affordable market in Florida is Sebring's 33872 zip code. The median home value is $254,723. Rent in the market costs $1,558 per month on average, making it the 36th-most affordable rental market in Florida.
The median property tax for households in Sebring is $1,624, which is the 156th-cheapest property tax rate in the state.
Sebring ranks No. 534 among Florida markets by energy costs, with households paying 0.1550899684 per kWh of electricity.
How we ranked the most affordable places in Florida
We evaluated 690 zip codes in Florida with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Florida, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Florida average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Florida average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
