The Cheapest and the Most Expensive Towns in Florida
Category: Retirement Real Estate
February 8, 2023 — Florida might not appeal to everyone, but it sure does attract more retirees than just about anywhere else in the USA. Its huge coastline, countless lakes, lack of a state income tax, and warm winter climate are magnets for overtaxed retirees with a hankering to get away for the winter (or all year round).
The cheapest and most expensive towns in Florida
For purposes of this article we used data from the National Association of Realtors®, which reports on 19 Florida markets. To generalize about Florida, the further one goes south, and the closer to the coast, the more expensive it gets. Naples and Miami hold an overwhelming lead when it comes to costly places for retirement real estate.
Comments on "The Cheapest and the Most Expensive Towns in Florida"
Brad says:
That's the cost of homes. The Insurance costs are astronomical and the Real Estate taxes.
Saw a documentary on thise hidden costs while on vacation on anna marie island!lol
Admin says:
Good point. Along the coasts, in particular, the insurance costs have been going up at unbelievable rates. There are some things you can do to try to control those costs, like installing wind resistant windows and not being in a flood zone. Higher quality buildings get lower rates. Inland the rates aren't as bad. When it comes to real estate taxes, FL's Save our Homes law caps real estate tax increases to 3% or the CPI (rate of inflation) for people who are homesteaded (you can do that if you are a FL resident). We find our FL real estate taxes to be a fraction of what they were in CT.
Toni says:
We are in Fort Myers, FL. Yes, home insurance costs have risen but we live 25 miles inland from the beaches and Sanibel Island which helps a lot as far as cost and we are NOT in a high-risk flood zone so flood insurance is still reasonable. Real estate taxes are low considering we had a home built 13 years ago, it has more than doubled in value and our real estate taxes have gone up a very small percentage in all those years and we do have homestead exemption because we live here full time. Brad mentions insurance cost is "astronomical" but that is misleading unless you are referring to homes on the low-lying coasts of Florida or someplace like Sanibel or Anne Marie Island. In those areas you are talking about very expensive homes to begin with....
Cindy says:
How about sinkhole insurance - is that still a thing.
Toni says:
Yes, sinkhole coverage is available. We have it and it is very inexpensive. We are not in an area of FL where they are common so could not tell you coverage in other parts of the state where they are more likely to occur.