There are Still Affordable Places in the Sunshine State to Buy a House: Here are Our Picks

Despite its popularity as a vacation and retirement destination, you won’t find any of Florida’s cities on the U.S. top ten most expensive list — which is great news for homebuyers. In fact, affordably buying a house in Florida is very possible, and we’re here to tell you just where to start your search.

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Using the cost of living index from Best Places (keep in mind that 100 is the national average, so it’s always up or down from there when we’re sharing numbers below) and a deep dive into market research to analyze median home sale prices, we’ve determined the cheapest places to buy a house in Florida. The statewide median home sales price in Florida is $295,000, and every city on this list has a local median pricing even lower than that.

So, let’s check it out!

Altamonte Springs

Just north of Orlando, Altamonte Springs is a suburban town of about 47,000 people — and growing at a rate of 1.01% annually. Homes are still quite affordable here — especially if you’re interested in purchasing an apartment or condominium — with a median home price of $198,500, and that’s factoring in a 10% increase from October 2021.

The job market in Altamonte Springs is favorable, too, with an unemployment rate of just 4% (considerably less than the national average of 6%) and jobs increasing 4% annually. Being so close to Orlando, there are jobs to be had near Altamonte Springs across a variety of sectors, including retail, hospitality, healthcare, and much more.

Median home price: $198,500
Median household income: $55,312
Cost of living index: 97.4
Cost of utilities index: 103.1
Property tax rate: 0.81%
Listings in Altamonte Springs: View available homes

Callahan

Callahan sits 30 minutes north of Jacksonville, and with a population of just 1,600, it’s definitely a small town — but with easy city access and affordable homes. Callahan’s median home price is up 6.8% from June 2021, but sits below the statewide median by about $20,000.

Also with an unemployment rate of 4% and job growth increasing at a rate of 2.7%, Callahan is a great town to consider if you’d like proximity to a large city and the ability to hit the beach in less than an hour.

Median home price: $275,100
Median household income: $56,645
Cost of living index: 102.1
Cost of utilities index: 103.9
Property tax rate: 0.80%
Listings in Callahan: View available homes

DeBary

Outdoor enthusiasts will appreciate DeBary’s location along Lake Monroe and the St. Johns River. The population of 23,000 is growing at a rate of 1.30% per year, though it’s no surprise with the lovely scenery and affordable homes. DeBary’s median home sales price is up 7.5% from October 2021 and still clocks in at just over $270,000.

The unemployment rate here is below the national average and job growth is projected at an impressive 42.9% over the next decade. With convenient access to both Orlando and local beaches, DeBary is an affordable way to enjoy a lakeside lifestyle for less.

Median home price: $270,500
Median household income: $71,554
Cost of living index: 100.8
Cost of utilities index: 100.5
Property tax rate: 0.92%
Listings in DeBary: View available homes

Ellenton

With a population of only 4,000, you probably wouldn’t guess that Ellenton is just 45 minutes from Tampa. This small town sits along the Manatee River just minutes from the coast, and the median home price is actually down 6.6% from May 2021 — there’s real opportunity for homebuyers looking for cheap houses in Florida.

Ellenton has a low unemployment rate and an enthusiastic job growth forecast of 45.1% over the next decade. If you’re looking for a home near the water with proximity to a major city, Ellenton just might be the place for you.

Median home price: $250,000
Median household income: $58,349
Cost of living index: 103.3
Cost of utilities index: 95.1
Property tax rate: 0.92%
Listings in Ellenton: View available homes

Frostproof

Ignoring the opportunity for jokes about how the whole of Florida could likely be referred to as “frostproof,” the tiny town of Frostproof — pop. 2,800 — sits in the state’s southern interior region. You won’t be minutes from the beach in Frostproof, but there are several lakes in the area and an agreeable median home price that is down 5.9% from May 2021.

Frostproof’s unemployment rate is just slightly below the national average, but forecasted job growth here is positive, with economy experts estimating a 43.7% boost over the next 10 years.

Median home price: $224,723
Median household income: $43,730
Cost of living index: 82.9
Cost of utilities index: 107.5
Property tax rate: 0.90%
Listings in Frostproof: View available homes

Hialeah Gardens

If you dream of living the Miami lifestyle without the Miami prices, look no further than Hialeah Gardens. This small city of 23,000 is just 30 minutes outside of Miami and even though median home pricing is up 3.4% from October 2021, it’s still well below the statewide median price.

Hialeah Gardens does have an unemployment rate of 8.2%, but with proximity to Miami, jobs are available in retail, hospitality, manufacturing, construction, and more. This is a great place to consider buying a home if you’re searching for affordable property in southern Florida.

Median home price: $251,500
Median household income: $52,979
Cost of living index: 92.4
Cost of utilities index: 96.9
Property tax rate: 1.02%
Listings in Hialeah Gardens: View available homes

Immokalee

Another candidate for southern Florida homebuyers, Immokalee is a town of 25,000 about an hour southeast of Fort Myers. Immokalee’s median home price is just $219,900 — and that’s factoring in a 9.1% increase from January 2021.

With a low unemployment rate and job opportunities in agriculture, construction, retail, and more, Immokalee is still one of the most affordable places to buy in Florida.

Median home price: $219,900
Median household income: $33,249
Cost of living index: 95.2
Cost of utilities index: 106.6
Property tax rate: 0.69%
Listings in Immokalee: View available homes

Largo

With 83,400 residents, Largo just might be the most populous city on our list. While its coastal location just south of Clearwater remains desirable, home pricing has stayed within reach — the median home price in Largo is $239,500, even with an 8.8% increase since September 2021.

Largo’s economy is stable, with a low unemployment rate and a high projection of job growth over the coming decade at 43.7%. If you’re looking for near-the-water living and affordable home pricing, don’t miss out on Largo.

Median home price: $239,500
Median household income: $46,733
Cost of living index: 98.1
Cost of utilities index: 105.2
Property tax rate: 0.91%
Listings in Largo: View available homes

Palatka

Palatka’s population of 10,400 makes this cozy town — located an hour south of Jacksonville — a quiet place to buy an affordable home in Florida. The median home price is up 18% from June 2021, yet it’s still just over $200,000.

The unemployment rate in Palatka is on par with the national average and job growth isn’t as favorably projected as some cities on this list, but jobs are readily available in retail and healthcare especially, with more opportunities if you’re willing to commute or work remotely.

Median home price: $205,000
Median household income: $40,068
Cost of living index: 78.7
Cost of utilities index: 100.3
Property tax rate: 0.74%
Listings in Palatka: View available homes

Temple Terrace

Temple Terrace is just 20 minutes outside of Tampa, so it’s a bit surprising homes are still so affordable in this town of 27,000. The median home price is well below the state median despite being up 10.6% from October 2021 — providing an enticing opportunity for Florida homebuyers.

The unemployment rate in Temple Terrace is 5.1% and jobs are expected to grow at a rate of 44.6% over the next 10 years — no doubt in part thanks to the quick commute into Tampa — so take a closer look if you’re on the hunt for a home near the water without breaking the bank.

Median home price: $207,000
Median household income: $56,209
Cost of living index: 99.2
Cost of utilities index: 96.3
Property tax rate: 1.09%
Listings in Temple Terrace: View available homes

Key takeaways

As long as you’re willing to step outside the major cities and resort areas, Florida is still a very affordable place to buy a home. The U.S. median home price in 2022 is $428,700, and the Floridian cities we’ve shared here have median prices ranging from $184,000 to $275,100.

As always, remember that there’s no better way to find your perfect home in Florida — or any other state — than to work with a great real estate agent! A knowledgeable agent can help you sort through listings while prioritizing your budget and needs. With HomeLight, you can be matched with top agents in your area in just a few minutes — at no cost to you.

Header Image Source: (Rebecca Cairns / Unsplash)