5 affordable places to live in Florida
If you’re thinking about moving to Florida, check out these five budget-friendly places to buy a home.
1. Homosassa Springs
With median home values at $76,400 -- less than half the national median of $184,700 -- this town with a population of 13,477 has a majority of homeowners; only 20% of residents rent, according to Niche. Homosassa Springs also has plenty of parks and above-average schools. Property taxes in Citrus Country, where Homosassa Springs is located, are among the lowest in Florida at 0.72% of a property's fair market value, according to Tax-Rates.org.
2. North Fort Myers
Located on the southwest coast of Florida, North Fort Myers is a suburb of Fort Myers that ranks No. 70 in Niche's list of the best places to retire in America. With a population of 41,690, North Fort Myers has several parks and has amenities such as restaurants and coffee shops. As in Homosassa Springs, there are more homeowners than renters: 82% of residents own their homes, which have a median value of $89,200. That said, property taxes in Lee county (where North Fort Myers is located) are among the state's highest at 1.07%.
3. Avon Park
Offering residents parks (such as Kissimmee Prairie Preserve State Park) and various local shops, the town of Avon Park has a population of 10,386. Many families and retirees reside here, and there's a fairly even mix of homeowners and renters. The median home value is $68,400, and -- good news for homeowners -- property taxes are near Florida's lowest at 0.77%.
4. West Pensacola
With a population of 21,243, West Pensacola is a suburb of Pensacola in Escambia county. There are many parks (such as Aero Vista and Juanita Williams Park) and restaurants in the area, which may explain why many families live here. Plus, it's known as an area with pristine beaches, perfect for sand and water lovers. The median home price is $60,800, though slightly more residents rent rather than own. Homeowners pay just 0.76% of their home's value in property taxes.
5. Brent
Also within the limits of Escambia county, the town of Brent is ranked No. 16 on Niche's list of places with the lowest cost of living in Florida. Half of Brent's 22,056 residents own their homes, which have a median price of $78,200. There are plenty of coffee shops, parks, restaurants (like the Bayou Marcus Birding Trail), and more. Property taxes are the same as West Pensacola's at 0.76% of the home's fair market value.
No matter where you decide to settle in Florida, purchasing a home well within your budget means borrowing less and keeping your monthly mortgage payments down. Shopping around for the best mortgage rates is equally important, as it could save you money for decades to come.
