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So far this century, Nevada, Utah, Idaho, Texas and Arizona have seen the fastest population growth, according to Census data reported by Newsweek. Florida, however, has always been a hotbed for migration, and its population has grown by a whopping 40.9 percent over the past 24 years.
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Florida is traditionally popular with northerners who travel south from fall to spring in search of a quick escape from the cold and snow, thanks to the state’s year-round warm, sunny weather. However, since the pandemic began, the number of people moving permanently to the Sunshine State has increased dramatically.
The U.S. Census’ Vintage 2022 Population Estimates report reported that Florida had become the fastest-growing state for the first time in 65 years, with more than 400,000 more people living there in July 2022 than in July 2021. Those are astonishing migration numbers for a state that already has the nation’s third-largest population.
Florida was once very affordable, but with more people fighting for housing, Florida is getting more expensive. The median home value in Florida is now $399,944, up 3.2% over the past year and about $40,000 higher than the national average, according to Zillow.
While the average asking price for all homes in Florida is $431,600, 72% of sales are below asking price (as of April 30, 2024, according to Zillow). Even for those with a specific budget limit of $250,000 to buy a home, there are plenty of bargains to be found.
Larger cities like Jacksonville and Tampa have a greater selection of homes for every type of buyer. But in smaller cities like Ocala, Sebring or Winter Haven, homes may be less expensive and you may get more for your money.
Here are the 10 cities in Florida with the most homes you can buy for under $250,000. Below, you’ll find the total number of listings in the city and the number of listings under $250,000 for each (according to current Realtor.com stats), the percentage of listings under $250,000, and the median home price as of May 31, according to Zillow.
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10. Gainesville
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Total number of entries: 717
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Offers under $250,000: 101
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Percentage of offers under $250,000: 14.1%
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Average asking price for a home: $297,017
Gainesville is located in northern Florida and is home to the main campus of the University of Florida. Gainesville combines college town living with aspects of rural and suburban life, giving it a small-town feel within a big city. The BestPlaces Cost of Living score for Gainesville is 92.2, which is 7.8% lower than the U.S. average and 10.6% lower than the Florida average.
9. Winterhaven
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Total number of entries: 902
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Offers under $250,000: 118
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Percentage of offers under $250,000: 13.1%
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Average asking price for a home: $313,000
Affordable living in Florida is entirely possible if you’re willing to venture outside of the state’s many attractive larger cities. Winter Haven is a prime example of this. Perfectly located about 51 miles east of Tampa and about 47 miles southwest of Orlando, the Winter Haven area is popular for its family-friendly atmosphere and affordable cost of living.
8. Panama City
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Total number of entries: 803
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Offers under $250,000: 118
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Percentage of offers under $250,000: 14.7%
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Average asking price for a home: $299,333
The cost of living in Panama City is 8% lower than the national average and 12% lower than the state average, making it one of Florida’s most reasonably priced communities. Known for its high-quality healthcare, a typical doctor’s visit costs about $2, even without health insurance, according to Houzeo.
7. Tampa
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Total number of entries: 2,367
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Offers under $250,000: 121
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Percentage of offers under $250,000: 5.1%
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Average asking price for a home: $434,333
Tampa is by no means cheap. In recent years, home prices and demand have risen significantly as Tampa has seen a surge of new residents fighting over low inventory. Supply has recovered and the Tampa market is “somewhat competitive,” according to Redfin. Homes are selling for an average of about 2% below asking price and are selling in about 26 days.
6. Lake District
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Total number of entries: 1,207
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Offers under $250,000: 125
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Percentage of offers under $250,000: 10.4%
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Average asking price for a home: $338,583
Situated halfway between Tampa and Orlando, Lakeland residents find themselves in the enviable position of having to choose between theme park fun and weekend surf relaxation. Not only is it well connected, it’s also cheap. The cost of living is 10% lower than the national average and 14% lower than the Florida average.
5. Sebring
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Total number of entries: 557
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Offers under $250,000: 130
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Percentage of offers under $250,000: 23.3%
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Average asking price for a home: $243,167
Sebring is one of the more isolated communities in Florida — there aren’t many direct freeways running through this area to Miami, Tampa Bay, or Orlando. However, it’s an off-the-beaten-path gem for those looking for affordable housing. It’s one of the few cities on this list with a median listing price under $250,000 and has the second-highest percentage of homes available for less than that amount (23.3%).
4.Tallahassee
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Total number of entries: 890
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Offers under $250,000: 184
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Percentage of offers under $250,000: 20.7%
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Average asking price for a home: $300,717
Located in Leon County, Tallahassee is one of the best places to live in Florida. There are a surprising number of homes for sale under $250,000. According to Niche, it is the 50th best city to live in America, the 54th best city for public schools, and the 62nd best city to raise a family.
3.Pensacola
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Total number of entries: 1,609
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Offers under $250,000: 469
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Percentage of offers under $250,000: 29.1%
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Average asking price for a home: $313,250
Offering residents beautiful beaches and scenic views along more than 50 miles of Gulf Coast coastline, Pensacola is a haven for outdoor enthusiasts. Located in Florida’s panhandle, the city saw a 16.7% year-over-year increase in single-family home inventory from January 2023 to January 2024, according to the Pensacola News Journal.
2. Ocala
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Total number of entries: 3,133
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Offers under $250,000: 694
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Percentage of offers under $250,000: 22.2%
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Average asking price for a home: $299,283
Known as the “Horse Capital of the World” for its hundreds of thoroughbred ranches and training centers, Ocala is also home to cheap deals on a wide variety of home types. According to Realtor.com, the median home price for the Maricamp area in June was a pricey $565,200, while cheaper homes could be found in West Ocala, where the median price was a much more reasonable $192,500.
1. Jacksonville
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Total number of entries: 4,626
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Offers under $250,000: 1,014
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Percentage of offers under $250,000: 21.9%
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Average asking price for a home: $308,167
By far the most populous and largest city by area in Florida, Jacksonville has a whopping 21.9% of available single-family homes for sale under $250,000 right now, according to Realtor.com. The city is drawing many residents, businesses and jobs out of the city and into the suburbs, where there is a vast area available for development, so looking outside the city may be a wise move for the homebuyer looking to spend under $250,000.
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This article originally appeared on GOBankingRates.com: 10 Florida Cities Where You Can Buy Homes for $250,000 or Less
