While it’s not a surprise that homes for sale Florida are expensive, some places are quite affordable yet have all the basic amenities. Keep reading to learn more about the best places to buy a house in Florida in 2023.
The Top 7 Places to Buy a House in Florida in 2023
There are up to 411 incorporated municipalities in the state of Florida. Finding the ideal place to buy a house can be somewhat daunting. To help you find the ideal place to buy a house, we looked into each Florida municipality’s metric average. Some metrics we used include typical home value, home value appreciation, rent-to-income ratio, etc. From our extensive research, we found the following places to be the top places to buy a house in Florida in 2023.
Spring Hill
Spring Hill is a small town in Hernando County with over 114,000 residents. Living in Spring Hill is great as the typical value of homes averages around $243,145. Over the last five years, the real estate home value appreciation has risen to 85.4%. Also, the rental vacancy is only about 3.1%. So, there will always be renters to occupy your property. Spring Hill is the ideal place to invest in real estate or raise a family.
Lehigh Acres
Lehigh Acres is a beautiful city in Lee County, and it ranks well in many factors, like its age diversity and race diversity. More so, Lehigh Acres houses in Lehigh Acres are quite cheap. The average cost of a typical home in Lehigh Acres is about $236,569. Also, the home value appreciation in Lehigh Acres is above the average at 65.7%. If you are buying a house to rent, the rental vacancy rate at Lehigh Acres is below average at 3.5%.
Palm Bay
Palm Bay is a city in Brevard County, and it is a nice town close to many activities such as the mall, beach, movies, and more. The average cost of a typical home in Palm Bay is $242,535, which is below the national average. Also, the home value appreciation over the last five years is about 63.9%, above the national average. The rental vacancy is also below average at about 4%, and the percentage income from rent averages 33%.
Pine Hills
Pine Hills, located in Orange County, is a dense suburban city west of Orlando. Living in Pine Hills is often described as giving a resort vibe. The cost of owning a typical home in Pine Hill averages $222,782. Over the past five years, residential real estate has appreciated up to 97.2%. Rental vacancy in Pine Hills is also quite low at 4.1%. And due to its central location, Pine Hill is close to several businesses and tourism centers.
Poinciana
Poinciana is a great location to raise a family and is a unique location that straddles Polk County and Osceola County. Despite its location, the average cost of a typical home in Poinciana is about $242,747. The rate of rental vacancy in Poinciana is low at 1.3%. However, the demographics of Poinciana are quite mixed and friendly. Also, over 68% of homes in Poinciana are owner-occupied, with an average of 3.7 members in an average household.
Jacksonville
Located Northeast of Florida, Jacksonville is one of the most populated cities in the state with a population of 954,614. In Jacksonville, the average cost of homes is about $249,048. Over the past five years, home value appreciation has risen in Jacksonville by 60.9%. Also, the rental market for homeowners in Jacksonville is great as the vacancy rate at Jacksonville is 7.5%.
Hialeah
Hialeah is a South Florida city located in Miami-Dade County. It has a population of 223,109, making it the sixth-largest city in Florida. Hialeah is a 33-minute ride to Miami Beach and is close to other attractions, making it a strategic investment location. The average cost of a typical home in Hialeah is $349,587. Over the last five years, home value appreciation at Hialeah has risen to 46.7%. Landlords can also make a decent amount renting in Hialeah as the rental vacancy is low at 2.1%.
Conclusion
With so many factors to consider, choosing a place to buy a house can be challenging. Hopefully, with this review, things will be clearer for you. There are so many nice places to consider buying a house in Florida. Whether you are looking for a place that is family-friendly or to invest, Florida has a place for you. So, take your time to look at the different offers and find the ideal place that fits your budget.
Δ
