Florida remains the 'best place under the sun' despite rapid development
I recently stumbled upon some vintage ads from the 50s and 60s about living and retiring in Florida. “We’ve found the recipe for happier living” read one. Another was selling a 1,226 square foot, 3-bedroom, home for just $70 a month. Another promoted Space Age Homes for only $2.18 a day.
At those prices, it’s easy to see why Florida was sold as the ‘Best Place Under the Sun.’
A lot has changed over the years, but I think that description still holds true. Last year, Florida was named the fastest growing state in the nation for the first time since 1957.
According to Zillow, Florida has surpassed New York as the second-most-valuable real estate market in the country. Big cities like Miami and Tampa have seen the most dramatic housing price increases but statewide home prices have gone up every year since 1946. Today, the median sales price for single-family existing homes is about $415,000, a 2% increase from last year.
There is a lot of talk about billionaires buying up property and pushing home prices higher. Which in turn is pushing the middle class out of the state in search of fewer costs and people.
But our beautiful state is not just for the rich. There are still parts of the state where median home prices are in the $150,000 range. Small towns like Clewiston, Palatka, Port St. Lucie, and Lakeland are garnering a lot of national attention for their charm and affordability.