The Florida housing market is, you guessed it, hot hot hot. Ever the go-to destination for many families during holiday vacation, the popularity for the state as a permanent stop has increased quite a bit. Finding an affordable home is still possible thanks to the lower cost of living, but if the pace is kept on pricing increases then that story may change in the coming years.
The Sunshine State’s Bright Market Future
Living in Florida is like having summer all year long. The sun shines almost every day of the year and the beautiful beaches provide much needed access to the cool waters of the Atlantic. Being such a perfect destination, Florida’s median prices on single-family homes is up 23.6% over the last 12 months. That being said, the median price is $351,000 which isn’t much higher than the national average of $308,000.
One important thing those looking to move to Florida should be aware of is that since it is such a hot spot for tourism, the housing market always gets a surge in the summer months. Keep an eye out as the year progresses and you’ll see some of the high dollar listings start to slash prices.
How Florida Keeps Attracting Movers
Florida is often portrayed in the media as a never-ending spring break party. The true part of that is that the beaches are, indeed, full of people enjoying the sun and sand no matter what time of year it is. Aside from the beaches, nature lovers can always find a new area to explore and discover a myriad of local flora and fauna unique to the marshy woods and swamps found in Florida.
As always, we love to talk about state tax laws when it’s in the favor of residents. Florida is one of the few states to have no individual income tax meaning your paycheck stays fully intact every time. Taking some stress off of budgeting is exactly what you need to unwind and make friends with some of the nicest residents we’ve met!
Florida Makes Sense For All Chapters of Your Life
There’s a reason that families come to Florida for vacation. The state has something for everyone of all ages to enjoy, meaning that moving here gives your family access to all of it each and every day. Walt Disney Resort alone is enough to keep locals coming back every year to see the shows put on and enjoy a night of magic. Universal Studios Orlando is another beacon of fun, offering something for movie and TV fans outside of Disney’s expansive list.
Even after the pandemic, these resort and travel industries are focused on building a stronger local economy to keep driving more to the area. Outside of attractions, you’ll find many movements and initiatives to protect Florida’s natural wildlife to keep the state as beautiful as possible while the economy continues to grow.
Interested in working next door to your favorite vacation spot? Visit the Potempa Team online today to see just how committed we are to helping you find the right home lending solution.