From Yahoo Finance: 2025-06-07 08:02:00

Florida saw an increase in closed sales of existing single-family homes in the fourth quarter of 2024, with a total of 56,496. However, home prices in Florida are cooling, with the average home value at $389,400, a 3.2% decrease over the past year. Is now the time to buy your Florida dream home?

In Florida, the average value of a single-family home is $290,046, with an average monthly mortgage cost of $1,517 and monthly rent at $2,067. Rent costs $6,599 more annually than a mortgage in this area. Consider these factors when deciding between renting and owning a home in Florida.

The study analyzed various cities in Florida, highlighting where renting is more expensive than owning. For example, in one city, the average home value is $233,845, with a monthly mortgage cost of $1,223 and rent at $1,791. Rent costs $6,812 more annually than a mortgage in this city.

When comparing the cost of renting versus owning in different Florida cities, some places stand out. For instance, in a particular city, the average home value is $394,070, with a monthly mortgage cost of $2,062 and rent at $2,633. Rent costs $6,852 more annually than a mortgage in this location.

In another city, the average home value is $300,252, with a monthly mortgage cost of $1,571 and rent at $2,210. Rent costs $7,668 more annually than a mortgage in this area. These disparities can impact your decision on whether to rent or buy a home in Florida.

Read more: 9 Cities in Florida Where Renting Is Now More Expensive Than Owning