House For Sale Under 100k in Florida

Florida attracts newcomers by its sunny beaches, beautiful climate, diverse wildlife, zero income tax, and reasonable cost of living.

If you are one of those who want to become the owner of a house in the Sunshine State, then this article is for you.

Florida is not only Miami beaches; thousands of people move in and out of Tampa, Jacksonville, Naples, Sarasota and other beautiful places. So if someone moves out and sells their home, then it’s time for you to choose one.

But first of all find the answer to the question - why Florida? Is it affordable to get home in Florida?

How Cheap are Houses in Florida?

In 2022 the prices in the housing market are skyrocketing across the US. It’s not an easy task to find a good value for money properties. However in Florida the property prices are relatively stable. According to the latest data of Mashvisor the average housing price in Florida is around $700,000 and it actually is lower if compared to other states. Here are some average housing prices in different states:

As you can see from above, the most expensive house in Florida might be cheaper than in other states.

Let’s try to figure out why the residential market in FL is cheaper than that in the rest of the US.

Reasons Why Houses in Florida are Cheaper

• Undeveloped lands. It may seem there are a lot of houses in Florida, and that is true - the coastline is full of real estate units. However, there are a lot of undeveloped lands in the middle of the state. Real estate developers make use of areas available for construction, purchasing the plots for almost nothing and building new housing. Developing your own property is a way cheaper and more profitable. Further on it may be sold or used for rentals to get profit.
• Vast property market. As mentioned above, the housing market of Florida offers a wide selection of housing units, both along the shore and in towns. And that is another reason for making average property prices in Florida lower than in other states.
• Insurance and property taxes. Another reason for low prices is taxes. Although there is a zero income tax in Florida, the insurance and property taxes are on the contrary very high. Alongside with beautiful nature and warm weather Florida is characterized by natural disasters like hurricanes, tornadoes and fierce thunderstorms. All this makes the insurance and property taxes higher than in other states. Therefore property prices tend to be lower to compensate for high insurance and property taxes.
• Smaller and old houses. Houses in Florida are often smaller in size than the ones in other states, and this factor contributes to lower prices as well. Moreover, many properties for sale tend to be old in Florida and that also makes them cheaper.
• Low median income. Median income in Florida is also lower than in other states, so it cannot help but take a toll on the property prices. If real estate prices in Florida go too high an average buyer won’t be able to afford it.

Here we need to say that median property prices differ from city to city. If you search for the best deal in the Sunshine State then TOP 5 most affordable place would probably look like this.

TOP 5 Most Affordable Places to Purchase Property

1. Lakeland. Median property purchase price: $109,000. Lakeland is located between Tampa and Orlando and is the most populous city in Polk County. The population of Lakeland is around 110,000 people. The city is known for being a major transportation hub due to its central location along I-4, and it is 44.8 miles from Apollo Beach.
2. Dunedin. Median property purchase price: $157,000. Dunedin is a small town with a population of only 36,000 people. It is the home for the gorgeous Honeymoon Island, which is #1 state park in Florida. You will fall in love with this cozy lovely city and its property prices.
3. Fort Walton Beach. Median property purchase price: $164,000. Fort Walton Beach is a coastal city in southern Okaloosa County. According to the US census its population is gradually growing and in 2020 Fort Walton gave residence to 21,000 people.
4. Cape Coral. Median property purchase price: $173,000. Cape Coral is the eighth largest city in Florida by area and population with around 190,000 people residing. If you are looking to settle down in a beautiful family-oriented community, then consider Cape Coral, you won’t be disappointed.
5. Vero Beach. Median property purchase price: $211,500. One of the most affordable cities in Florida is Vero Beach. Located along the Atlantic Coast it is a paradise for water sports, fishing, tourism and nature tours. Around 16,000 people chose this place of heaven as their home.

In conclusion it is fair to say that buying a home in Florida is more real than in other states. Check out the latest offers in the region and make a good deal!