Hurricanes have nothing to do with why Florida has low housing prices

If you are thinking of moving to Florida and want to know if you can find the best deal for buying a home, you're in luck. There are many places in the state where real estate is more affordable than you might think. Writes about it Go Banking Rates.

Фото: Depositphotos

This is not a result of the downturn in the Florida housing market. Home sales in the state are growing at a faster rate than the rest of the country, according to Dr. Brad O'Connor, chief economist for Florida Realtors, the state's largest trade association of Realtors. Despite the increase, home prices are still relatively low in many cities across the state. "It's always been a pretty affordable place to buy a home, especially if you're retired," O'Connor said.

The question then becomes: why are there such affordable homes in Florida? This is not to say that cities in which housing prices are lower than the national average have a low standard of living.

In fact, there are a few key reasons housing is available in Florida, O'Connor said.

Half of Florida's cities have lower house prices than in the US

The average price of homes currently for sale in the United States is $289. In Florida, the average price is slightly higher at $000. However, 298 of the 500 cities in Florida have a median home price lower than the national average.

Large amounts of land contribute to lower prices

Most of the expensive homes are concentrated in South Florida, which is limited to the Atlantic Ocean in the east and the Everglades in the west. The rest of the state covers a huge area, O'Connor said. According to him, even an amazing amount of coastline is not densely populated.

In South Florida, where there is a land shortage, prices are higher. But the abundance of land in the rest of the state is driving down prices for both land and homes. Several of the 15 cities that are the best places to buy a home are near two fast-growing cities where O'Connor says there's still room to grow: Orlando and Tampa.

Homes are usually smaller

Florida is a great place to retire. Retired people don't need as much space in their home as large families. So Florida's large number of retirees means the average home in the state has fewer rooms than the national average, O'Connor said.

Citing U.S. Census Bureau data, O'Connor said 45% of Florida homes have two bedrooms or fewer, compared with 39% nationwide. “It’s a significant difference,” he said.

Revenues are also slightly lower.

Florida's median income is $ 50 883 compared to the national average of $ 57 652. According to O'Connor, since the state has lower incomes, pressure on housing prices is less. In other words, wages on average are not high enough to afford housing at a higher price, so the market reacted accordingly.

The supply of houses is not as limited as in other places

In many places in the USA, the supply of houses does not match demand, which leads to higher prices. Florida has no such problem, at least to the same extent.

On the subject: 10 best living cities in the US with affordable housing

“We’re one of the few places where houses are standing,” O’Connor said. “It also helps keep prices down in our state.”

Hurricanes don't affect prices much

Believe it or not, hurricanes do not play a role in lowering house prices in Florida. O'Connor said Florida realtors have analyzed housing data and insurance claims for hurricane damage.

Ready to buy? That's where to look

There are more than 200 cities in Florida where the average housing price is lower than the state average price in $ 298 500 and the country in $ 289 000, including such large cities as Jacksonville, Orlando, Tallahassee, St. Petersburg and Pensacola.

1. Timber pines

Average housing price: $ 180 000

2. Altamonte Springs

Average housing price: $ 198 000

3. Coconut Creek

Average housing price: $ 200 000

4. North port

Average housing price: $ 228 900

5. Temple Terrace

Average housing price: $ 231 200

6. Tavares

Average housing price: $ 233 450

7. Whiskey creek

Average housing price: $ 253 000

8. Cape coral

Average housing price: $ 256 000

9. Port orange

Average housing price: $ 263 945

10. Punta Gorda

Average housing price: $ 269 500

11. Dunedin

Average housing price: $ 279 000

On the subject: 30 cities with good salaries and affordable housing

12. Rock college

Average housing price: $ 279 945

13. Saint Cloud

Median home value: $ 281,995

14. Lakeland highlands

Average housing price: $ 288 950

15. Venice (Venice)

Average housing price: $ 289 000

Read also on ForumDaily:

Life and work: 10 the best cities in the world for immigrants

5 states where you can comfortably live with small retirement savings

15 US cities for retirement with minimal savings

Cardboard palaces of America: why in the USA there are not such houses as in Russia

30 cities where you can buy a house for less than $ 100 thousand

How much you need to earn for a comfortable life in different states of the USA

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.