What are the 5 most expensive cities in Florida to buy a home?
If you want to live in a warmer climate and are looking to buy an affordable home in Florida, avoid these cities as they have the most expensive ones.
The real estate market continues to be prohibitive for many who are looking to buy a home.
According to data from Zillow, a real-estate marketplace company, the average value of a home in the United States is $363,438, 3.8% more than last year.
High mortgage rates have also made monthly payments more expensive. According to Bankrate, a consumer financial services company, on July 23, the 30-year fixed mortgage rate was 6.87%, falling 5 basis points in the last seven days.
Home prices have been inflated across the United States, but there are some cities that are priced even higher. Location, size, age and condition are some of the factors that contribute to the value of the home.
Florida is one of the states with relatively more affordable housing compared to others, although still above the national average value. Some of its cities have houses worth millions of dollars.
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5 most expensive cities in Florida to buy a house
According to Zillow, the median home value in Florida is $398,077, higher than the national average and up 2.5% from last year.
According to a Stacker report, based on data from Zillow, the metropolitan areas with the most entries in the top 30 most expensive cities in Florida are Miami-Fort Lauderdale-Pompano Beach; Key West; Cape Coral-Fort Myers; North Port-Sarasota-Bradenton; Orlando-Kissimmee-Sanford and Sebastian-Vero Beach.
The data has found that the Florida cities with the most expensive homes, all running in the millions, are the following:
1. Jupiter Island
The median home value on Jupiter Island is $9,683,951, down 0.8% from last year.
2. Golden Beach
The median home value in Golden Beach is $7,609,088, up 2.5% from last year.
3. Fisher Island
The median home value on Fisher Island is $6,485,558, up 8.6% from last year.
4. Lake Buena Vista
The median home value in Lake Buena Vista is $5,310,757, up 5.8% from last year.
5. Manalapan
The average value of a home in Manalapan is $4,168,887, 6.7% more than last year.