The beach life has a strong appeal. What’s not to love about spending days with your toes in the sand, listening to the peaceful surf in the background? Enjoying warm weather all year? Florida is the United States playground, but it’s not just the beaches, making it the top state people moved to for 2023. It’s the total package: no state income tax, theme parks, world-class golfing, water sports, land sports, and so much more.

But that demand comes at a cost. Naturally, some Florida regions have more expensive housing costs based on demand and the type of construction needed. Only some places are as affordable to live in Florida as you would like. 

Using housing values provided by the US Census for 2022, the median sale prices on single-family homes for the third quarter of 2023, and other recent sales data, we identified the most affordable and most expensive areas to buy a home in Florida.

Top five most affordable Florida regions 

Palatka

Think of a Florida frontier town, and that is essentially Palatka, a town of just 10,000 in north-central Florida. This community is right on the St. John’s River where it widens after flowing through Lake George. That location made it vital for transporting goods back in the day. Today, Palatka maintains a sleepy old-world feel, with some classic Florida old homes and small-town diners. Its main attractions include Ravine Gardens State Park, the Florida Azalea Festival, and the Florida Blue Crab Festival.

The housing values here made it the least expensive region to buy a home in Florida. Expect some historic homes, especially in historic districts, but farmhouses and small ranches are other options. You can live waterfront on the St. Johns, one of the branches, or upriver on the lakes. For owner-occupied units, the 2022 estimated housing value was $149,900. Patalaka is the seat of Putnam County, where in October 2023, real estate had a median sale price of $235,000, down 6.7% from the prior year. Combined, that makes it the most affordable place to live in Florida.

Sebring-Avon Park 

This Central Florida region is attractive for affordable lakefront living. Find hundreds of round lakes surrounded by vast wetlands and marshes across the landscape. Sebring was purpose-built on one of those lakes. As for Avon Park, its nickname is the “City of Charm.” 

Part of Highlands County, these are small communities with brick Main Streets, refurbished buildings with painted murals on the side, and green spaces everywhere. Living here embraces the best of Old Florida living but with modern comforts like beer gardens and live music performances at theaters. Find motorsports races, golf resorts, and museums. But it’s a far cry from the other central Florida towns like Orlando and Ocala. Outside of Sebring and Avon Park are orange groves and tomato fields. Lake Okeechobee, the state’s largest lake, is just southeast. 

The micro-area median housing value for owner-occupied units was $176,900. But for October 2023, Highlands County had a median list price of $299,000.

Lake City

For decades, this agricultural community on I-10 and I-75 has been at Florida’s crossroads, earning it the nickname “Gateway City.” Between the beautiful Santa Fe River and an easy connection to Jacksonville and Tallahassee, Lake City is a historic place to live, proud of its old Florida Vibe. This part of North Florida is dotted with freshwater springs and rolling hills. Culturally, it has more in common with Georgia’s southern hospitality than Miami. 

Lake City’s median housing value of $205,400 made it the third most affordable region to live in Florida for 2022. Median sold prices for the city limits were $260,000 in October 2023.  

Homosassa Springs 

Live riverfront on the Florida Nature Coast. Homosassa Springs was named after a massive freshwater spring system today protected by a state park. The clear waters are known for their manatees, but the village is famous for its laid-back, old-world Florida lifestyle. It’s a fishing village at heart, where people flee to the waters for summer scallop season, cobia tournaments, and redfish.

Even though it is a low-lying waterfront area, the housing values are rather affordable at $239,700. In October 2023, median sold prices for the Citrus County area were $280,000.

Ocala FL 

This Central Florida city gives you great bang for your buck. Ocala the fifth cheapest place to live in Florida, but it’s also one of the top equestrian communities in the nation. But it’s not rural and rustic at all. Ocala truly has over 65,000 residents, a local college, historic parks, great shopping, and a neat downtown area with public art installations featuring thoroughbred horses. 

You don’t have to be a horse person to appreciate living in the low-cost Central Florida community. Location is another perk of Ocala living. It’s an hour’s drive from major destinations like Orlando, Tampa, and Gainesville. The median home value here was $243,200. The median home sold price in the third quarter of 2023 was $282,000.

The most expensive places to live in Florida 

The Villages 

In an interesting contrast, the fifth most expensive place to live in Florida is right outside the fifth cheapest place to live in Florida. The Villages is a master-planned retirement community just outside of Ocala. It’s a massive and still growing complex that spans three Florida counties. At 81,000 residents, it’s larger than its neighbor, and Marion County has one of the oldest average ages. 

It’s an amenity-rich lifestyle for retirement-age folks. Each neighborhood has a golf course, social clubs, and a community center nearby. Homes are available as condos, villas, or single-family residences. Median home values were $367,200, while October 2023’s median list price stood at $373,800.

Sarasota-Bradenton

Unsurprisingly, the Sarasota, Bradenton, North Port metro is one of the most expensive places to live in Florida. For several years, Sarasota reigned as one of the best places to live and retire in the nation. After all, it is waterfront, has a massive arts and culture tradition, is packed with restaurants, and is a top sports tourism hub. 

All that attention skyrocketed housing prices. Real estate does tend to be cheaper as you move south in the metro towards North Port, or northward and inland towards Bradenton. But in central Sarasota and the Manatee County beaches, you’ll find fabulous properties on some of the nation’s best beaches. Demand for its beachfront and golf community living will keep home values higher.

For 2022, the metro median home value was an estimated $460,000. Continued pressure has elevated its sale prices, which came in at a median of $515,000, a year-over-year increase of 3%.

Miami-Fort Lauderdale

What’s not to love about living in the Miami metro area? You have the Latin flair of central Miami and its world-famous vacation destination, Miami Beach. Fort Lauderdale is quieter but has become a rising star for housing and new developments. Pompano Beach has long been one of the best places to live on the East Coast for its high quality of life. 

Put them together, and the median housing values in this major metropolitan area were at $429,800. Single-family home prices were much higher, with a median of $602,500 in the year’s third quarter. That was a 5.7% year-over-year increase, showing that the Miami real estate market is still on the move despite a more challenging economic market in fall 2023.

Naples- Marco Island

An opulent lifestyle awaits in the southwestern corner of the Florida peninsula. Beautiful Naples and Marco Island are luxury destinations and considered top retirement communities. People come here to live on the waterfront near some of Florida’s best beaches. Those include Marco Island, which is at the tip of the Ten Thousand Islands National Park.

Not only is the average resident high among the highest in the state, but these cities have a high percentage of part-time residents. With so much waterfront here and a high concurrency concentration of affluence, the median home values are $541,500. As further testament to the market’s expensive nature, the median sales price in the third quarter was $770,000, a 3.1% year-over-year bump.

Key West

The most expensive real estate market in Florida is also its southernmost. Of course, the Key West metro includes all of the Florida Keys, which has more beautiful island living options and places like Marathon and Big Pine Key. 

It shouldn’t be a surprise that island living in the Florida Keys is an expensive place to buy a home. You’re limited by the size of the island and by the demand from people who want the island lifestyle. Not only do you have limited real estate in high demand, but everything has to be brought in from the mainland, which increases prices for new construction. Plus, the Keys are prone to being hit by hurricanes, leading to stricter building codes and higher homeowners insurance.

So, the median home value for the Florida Keys, particularly Key West, was $718,600. The October 2023  year-to-date median sale price for Key West real estate was $997,500.

Finding a Florida home

There you have it, the most affordable and expensive places to live in Florida for 2023. As you can see, by living away from the coast and in high-demand areas, you can find a home under the national median prices of the time. Living in major ocean destinations will require a higher budget, though.