Best Affordable Places to Live in Florida in 2024

Best Places to Live in Florida

When you’re thinking of the best places to live in Florida, your criteria will depend on your specific financial and family situation. While the cost of living in Florida is a bit higher than average overall, there are pockets of affordability. The specific features you’re looking for will help determine the best place to live in Florida for you. Starting the mortgage prequalification or preapproval process early can help you set your overall budget and narrow down your options. As you consider the best places in Florida to live, here are a few different options to consider:

Best Affordable Places to Live in Florida

1. Pensacola

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On Florida’s Gulf Coast, near Alabama, Pensacola offers pristine beaches with white sand and stunning gulf views. When you’re not relaxing on the beach, take a visit to the nearby National Naval Aviation Museum, all while enjoying a below-average cost of living.

Population: 53,876

Median Household Income: $59,119

Cost of Living: 90.9% of U.S. average

Median Rent Price: $1,800

Home Price-to-Income Ratio: 2.20

Average Property Tax: 0.82%

Housing Affordability: Housing in Pensacola is quite affordable, with a home price-to-income ratio of only 2.20. (The housing price-to-income ratio is defined as the median home price divided by the median household income.) In addition to relatively affordable rent and home prices, there are also plenty of first-time homebuyer programs in Florida consumers can take advantage of.

2. Ocala

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If you’re looking for a Florida place to live that’s not on the gulf or ocean, you might consider Ocala. Ocala is located in Central Florida, about 80 miles northwest of Orlando. While Ocala is within driving distance of Orlando or the Gulf of Mexico, you can also check out the local Silver Springs State Park, site of one of Florida’s early tourist attractions.

Population: 65,478

Median Household Income: $46,841

Cost of Living: 90.1% of U.S. average

Median Rent Price: $1,750

Home Price-to-Income Ratio: 3.41

Average Property Tax: 1.03%

Housing Affordability: While overall cost of living in Ocala is below the national average, the home price-to-income ratio is higher than in other Florida cities. Still, the home price-to-income ratio is below the national average of 4.1, so Ocala landed on our list of the best affordable places to live in Florida. If you’re considering buying a home in Ocala, you’ll likely want to start the mortgage preapproval process sooner rather than later.

3. Tallahassee

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As the capital of Florida, Tallahassee offers natural beauty, rich culture, and a vibrant food scene. Located on the Florida Panhandle, Tallahassee is a short drive from the Gulf of Mexico and is also the home of Florida State University.

Population: 201,731

Median Household Income: $49,077

Cost of Living: 88.4% of U.S. average

Median Rent Price: $1,480

Home Price-to-Income Ratio: 1.88

Average Property Tax: 0.93%

Housing Affordability: In addition to a below average overall cost of living, Tallahassee also scores well in home price-to-income ratio and median rent price. In fact, according to Zillow, the median rent price in Tallahassee has dropped $227 in the past year.

4. Vero Beach

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Nestled on the east coast of Florida between Daytona Beach and Miami, Vero Beach offers many of the benefits of beach living without the cost of some of the more expensive parts of Florida. At 85.9%, the cost of living in the Sebastian-Vero Beach metro area is significantly below the national average.

Population: 17,096

Median Household Income: $54,311

Cost of Living: 85.9% of U.S. average

Median Rent Price: $3,150

Home Price-to-Income Ratio: 7.53

Average Property Tax: 0.89%

Housing Affordability: While Vero Beach has an overall cost of living that is 15% below the national average, the same is not true for housing expenses. Vero Beach has a median rent price and home price-to-income ratio that are both significantly above the national averages. The average home value, though, is below the national average at $367,312.

5. Tampa

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As the largest Florida metro area on the Gulf Coast, Tampa/St. Petersburg offers some amenities not found in smaller cities, including professional sports and vibrant arts and culture. You can also visit Busch Gardens, the Tampa Zoo, and miles of Gulf Coast beaches.

Population: 398,173

Median Household Income: $59,893

Cost of Living: 96.7% of U.S. average

Median Rent Price: $2,342

Home Price-to-Income Ratio: 4.67

Average Property Tax: 1.15%

Housing Affordability: As a large metro area, Tampa/St. Petersburg has a wide range of housing prices. While the overall housing numbers are slightly above national average, you’ll find areas that are quite affordable as well as those that are less affordable throughout the metro area.

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Best Places to Live in Florida for Families

When you’re thinking of the best places to live in Florida, your criteria will depend on your specific financial and family situation. While the cost of living in Florida is a bit higher than average overall, there are pockets of affordability. The specific features you’re looking for will help determine the best place to live in Florida for you. Starting the mortgage prequalification or preapproval process early can help you set your overall budget and narrow down your options. As you consider the best places in Florida to live, here are a few different options to consider:

1. Melbourne

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Melbourne is a city in Florida located on the Atlantic coast, southeast of Orlando. It’s known not only for its beaches, but for the Gallie Arts District, located on Indian River Lagoon. Its relative affordability makes it a solid choice, and families will appreciate its abundance of schools, including 62 private schools.

Population: 86,441

Median Household Income: $55,543

Cost of Living: 94.4% of U.S. average

Median Rent Price: $2,150

Home Price-to-Income Ratio: 3.84

Average Property Tax: 0.92%

Housing Affordability: Like many Florida beach towns, there is a wide disparity in housing availability and affordability. While the overall cost of living in Melbourne is slightly below the national average, your best bet to find an affordable house is to look inland, away from the ocean.

2. Jacksonville

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As the most populous city in Florida (nearly twice as populous as Miami), Jacksonville has something to offer almost everyone. From beaches and other outdoor leisure activities to the NFL’s Jaguars, you’re sure to find an activity for your family. Do your homework when house-shopping for a family, as in any town some local public schools are better rated than others.

Population: 971,319

Median Household Income: $58,263

Cost of Living: 94.2% of U.S. average

Median Rent Price: $1,724

Home Price-to-Income Ratio: 4.89

Average Property Tax: 0.97%

Housing Affordability: The median rent price in Jacksonville has dropped $124 over the past year, according to Zillow, in line with recent national trends. And while the home price-to-income ratio in Jacksonville is slightly above the national average of 4.1, it’s offset by the below average total cost of living, and local home values are relatively affordable, at an average of $295,177.

3. Tampa

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The Tampa/St. Petersburg area is one of the largest in Florida, and offers some amenities that can’t be found in some of Florida’s smaller cities. This includes professional sports and a vibrant arts and culture scene. With Busch Gardens, the Tampa Zoo, as well as miles of Gulf Coast beaches, it’s no surprise this is one of the best places to live in Florida for families.

Population: 398,173

Median Household Income: $59,893

Cost of Living: 96.7% of U.S. average

Median Rent Price: $2,342

Home Price-to-Income Ratio: 4.67

Average Property Tax: 1.15%

Housing Affordability: As with any large metropolitan area, you’ll find a wide range in housing prices in the Tampa area. Although the overall housing numbers are slightly above the national average, you can still find some areas that are quite affordable.

4. Sarasota

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Located south of Tampa on Florida’s Gulf Coast, Sarasota has miles of pristine white-sand beaches as you would expect. It is the longtime winter home of the Ringling Bros. and Barnum & Bailey circus, and you can still visit the Ringling Museum of Art or commune with nature in the nearby Myakka River State Park. Families may also like the fact that Sarasota has some of the most highly rated schools in Florida.

Population: 57,376

Median Household Income: $62,615

Cost of Living: 106.0% of U.S. average

Median Rent Price: $2,875

Home Price-to-Income Ratio: 8.27

Average Property Tax: 0.98%

Housing Affordability: The home price-to-income ratio in Sarasota is significantly higher than that of other communities, signifying that it may be more challenging to find affordable housing. You may need to find a jumbo mortgage loan in order to get financing on some of Sarasota’s more expensive homes.

5. Naples

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Naples is one of the furthest south of all Florida communities on the Gulf Coast and families might appreciate its well-rated school systems. Located both on the beach and a short drive from the Everglades, it has something for everyone. The Naples Pier, first erected in 1888, is the city’s symbol — and a popular fishing and dolphin-spotting destination.

Population: 19,618

Median Household Income: $125,306

Cost of Living: 108.9% of U.S. average

Median Rent Price: $6,000

Home Price-to-Income Ratio: 4.73

Average Property Tax: 0.83%

Housing Affordability: Naples has a very high median household income, signifying its status as a desirable place to live. Unfortunately that also means the housing in Naples is not very affordable. While there may be some bargains available, cost-conscious families may want to look elsewhere.

Best Places to Live in Florida for Young Adults

1. Miami

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Miami is one of the more expensive areas in Florida, but for young adults, it’s a playground. Those on a tight budget would be wise to look at the suburbs, where there are more affordable options. With a lively nightlife on South Beach and plenty of Cuban flair, the area can be a great place for young adults looking to party.

Population: 449,514

Median Household Income: $47,860

Cost of Living: 120.6% of U.S. average

Median Rent Price: $3,400

Home Price-to-Income Ratio: 5.58

Average Property Tax: 1.01%

Housing Affordability: As the largest metro area and the widely recognized cultural capital of Florida, Miami is a very desirable place to live. That puts strain on housing prices, making them higher than the national average both to rent or to buy. The average Miami home value is $549,443, up more than 7% year over year. Homebuyers who can wait until the market cools a bit may find relief from the heat.

2. Naples

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Naples is located in Southwest Florida, directly on the Gulf Coast. The Naples Pier, first erected in 1888, is a popular fishing and dolphin-spotting destination. Outdoor enthusiasts can visit nearby Clam Pass Park and Delnor-Wiggins Pass State Park as well as take a short drive into the Everglades.

Population: 19,618

Median Household Income: $125,306

Cost of Living: 108.9% of U.S. average

Median Rent Price: $6,000

Home Price-to-Income Ratio: 4.73

Average Property Tax: 0.83%

Housing Affordability: Naples has a high median rent price as well as an above average home price-to-income ratio. So some families will have to hunt hard to find affordable options. The Lely and Naples Manor neighborhoods may offer some price relief, and, thankfully, Naples hasn’t seen the high price increases of other Florida locales, such as Miami.

3. Orlando

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Located in Central Florida, Orlando is well known as the gateway to some of America’s most famous theme parks, including Disney World and Universal Orlando. In addition to theme parks, Orlando is home to the NBA’s Magic and Lake Apopka.

Population: 316,081

Median Household Income: $58,968

Cost of Living: 104.8% of U.S. average

Median Rent Price: $2,128

Home Price-to-Income Ratio: 4.26

Average Property Tax: 1.02%

Housing Affordability: Orlando’s cost of living and other affordability metrics are around (though slightly above) the national averages. Still, the Orlando metro area is quite large, meaning that there will be pockets of affordability.

4. Miramar

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Miramar is located in southern Broward County, in between Miami and Fort Lauderdale. As such, residents are spoiled for activities, including big-city life, nature and wildlife or soaking in the sun at the beach. Truly, you can find something for everyone.

Population: 137,228

Median Household Income: $75,200

Cost of Living: 122.2% of U.S. average

Median Rent Price: $2,900

Home Price-to-Income Ratio: 4.22

Average Property Tax: 1.2%

Housing Affordability: Because it is nestled in between Miami and Fort Lauderdale, Miramar’s housing costs are tied to those of its larger neighbors. Still, as a relatively large suburb with a population of over 130,000, it offers a wide range of housing options depending on what you’re looking for.

5. Tallahassee

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Tallahassee is not only the state’s capital but the home of the state’s flagship university, Florida State. Located on the Florida Panhandle, Tallahassee is a short drive from the Gulf of Mexico and offers natural beauty, rich culture and a vibrant food and arts scene.

Population: 201,731

Median Household Income: $49,077

Cost of Living: 88.4% of U.S. average

Median Rent Price: $1,480

Home Price-to-Income Ratio: 1.88

Average Property Tax: 0.93%

Housing Affordability: According to Zillow, the median rent price in Tallahassee has dropped $227 in the past year. Additionally, the home price-to-income ratio is one of the lowest among metro areas in Florida. This makes Tallahassee a very affordable place to live in Florida.

Best Places to Live in Florida for Retirees

1. Pensacola

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Pensacola is the largest city on Florida’s panhandle, with crystal clear water and plenty of white sand beaches. It’s also home to the National Naval Aviation Museum, which can give you something to do when you’re not in a beach mood. You’ll also be able to take advantage of a cost of living that is below the national average.

Population: 53,876

Median Household Income: $59,119

Cost of Living: 90.9% of U.S. average

Median Rent Price: $1,800

Home Price-to-Income Ratio: 2.20

Average Property Tax: 0.82%

Housing Affordability: Located in Northwest Florida near the Alabama border, Pensacola is much closer to Alabama and Georgia than it is to pricier parts of Florida, and costs reflect that. When you compare the cost of living by state, you’ll see that Alabama and Georgia fall below Florida. This helps the cost of living and home price-to-income ratio in Pensacola is significantly below the national average.

2. New Port Richey

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New Port Richey is a small suburb on the Gulf Coast just north of Tampa. So while you’ll get many of the advantages of a larger city, you’ll still be a bit removed and able to enjoy a slice of country living.

Population: 17,332

Median Household Income: $40,319

Cost of Living: 96.7% of U.S. average

Median Rent Price: $2,000

Home Price-to-Income Ratio: 4.67

Average Property Tax: 1%

Housing Affordability: While the overall cost of living and median rent price in New Port Richey are below the national average, the home price-to-income ratio is relatively higher. You may have to explore several different types of mortgage loans to purchase the home that you’re looking for.

3. Brooksville

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Brooksville is a small city in rural Florida — north of Tampa and west of Orlando. While it’s not directly on the beach, the Gulf of Mexico is just a short drive away. If you’re looking to retire to a small town, Brooksville could be the sweet spot.

Population: 9,513

Median Household Income: $35,191

Cost of Living: 83.0% of U.S. average

Median Rent Price: $1,450

Home Price-to-Income Ratio: 1.83

Average Property Tax: 0.99%

Housing Affordability: As a small town, Brooksville is quite affordable, especially compared to some of the larger metro areas in Florida. Both the median rent price and the average price of homes to purchase are significantly below the national average. One of our best tips to qualify for a mortgage is to stay within your budget, and buying a home in Brooksville may make that easier.

4. The Villages

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The Villages is a census-designated place (CDP) located about 30 miles northwest of Orlando. The Villages is a master-planned and age-restricted community, specifically intended for retirees.

Population: 79,077

Median Household Income: $67,239

Cost of Living: 104.8% of U.S. average

Median Rent Price: $2,300

Home Price-to-Income Ratio: 1.49

Average Property Tax: 0.98%

Housing Affordability: Although the name suggests a quaint and small area, The Villages is actually quite large, stretching over parts of three counties (Sumter, Marion and Lake). Housing affordability is better than the national average. That might allow you to do a mortgage refinance on your first home and use your home’s equity to buy a second home in this retirement community.

5. Daytona Beach

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Home to NASCAR’s famous Daytona 500 race, Daytona Beach is located on Florida’s Atlantic coast. In addition to visiting the Daytona Speedway, you can check out the Museum of Arts & Sciences and Daytona’s beach boardwalk.

Population: 77,958

Median Household Income: $42,392

Cost of Living: 97.1% of U.S. average

Median Rent Price: $1,600

Home Price-to-Income Ratio: 4.07

Average Property Tax: 0.92%

Housing Affordability: Being directly on the beach means that there is a wide range of housing affordability in Daytona. Beach properties may sell for millions of dollars while homes that are further back may be more affordable. The median rent price in Daytona is below the national average.

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Best Places to Live in Florida Near the Beach

1. Sarasota

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Sarasota is perhaps best known as the former winter home of Ringling Brothers circus. In fact, you can still visit the Ringling Museum of Art in downtown Sarasota. In addition to miles of pristine beaches, you’re still close enough to the Tampa/St. Petersburg metro area to still take advantage of all that comes with living near a big city.

Population: 57,376

Median Household Income: $62,615

Cost of Living: 106.0% of U.S. average

Median Rent Price: $2,875

Home Price-to-Income Ratio: 8.27

Average Property Tax: 0.98%

Housing Affordability: Sarasota has a median rent price and home price-to-income ratio that is above the national average, although its average home value, at $458,371, has declined a bit in the last year. Do your homework, as different neighborhoods offer wildly varying prices. And if you’re financing your home purchase, consult a home loan help center to learn more about your options.

2. Naples

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Headlined and situated around the 1888 Naples Pier, Naples is one of the southernmost cities on Florida’s Gulf Coast. If you get tired of relaxing on the beach, Everglades National Park and the Big Cypress National Preserve are a short drive away.

Population: 19,618

Median Household Income: $125,306

Cost of Living: 108.9% of U.S. average

Median Rent Price: $6,000

Home Price-to-Income Ratio: 4.73

Average Property Tax: 0.83%

Housing Affordability: Both the overall cost of living as well as the housing affordability indicators place it above the national average, so actual beachfront property will be out of reach for many people. But there are pockets of more affordable homes inland, with good proximity to the sun and sand.

3. Cocoa Beach

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Nestled in Brevard County, just east of Orlando, Cocoa Beach sits on a barrier island in the Atlantic Ocean. Known as the gateway to the Kennedy Space Center Visitor Complex, it’s a must for those interested in space travel and NASA.

Population: 11,341

Median Household Income: $73,901

Cost of Living: 97.6% of U.S. average

Median Rent Price: $2,650

Home Price-to-Income Ratio: 2.84

Average Property Tax: 0.92%

Housing Affordability: In addition to an overall cost of living below the national average, it’s fairly affordable to buy a house in Cocoa Beach, even if you are a first-time homebuyer.

4. Delray Beach

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Delray Beach is located about 50 miles north of Miami, in Palm Beach County and part of the Fort Lauderdale metropolitan area. The Pineapple Grove Arts District has tons of public art and galleries for residents and visitors to enjoy, and you can also check out the lakeside Morikami Museum and Japanese Gardens.

Population: 67,030

Median Household Income: $69,804

Cost of Living: 122.2% of U.S. average

Median Rent Price: $3,250

Home Price-to-Income Ratio: 3.29

Average Property Tax: 1.11%

Housing Affordability: While the cost of living is above the national average, you may still be able to find affordable housing, depending on how far you’re willing to stray from the beachfront.

5. Destin

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Destin is located in Florida’s Panhandle, just a bit east of Pensacola, on a barrier island outside Choctawhatchee Bay. Enjoy the Gulf Coast beaches and boardwalk, or visit the dunes at nearby Henderson Beach State Park.

Population: 14,119

Median Household Income: $81,827

Cost of Living: 95.2% of U.S. average

Median Rent Price: $2,800

Home Price-to-Income Ratio: 2.20

Average Property Tax: 0.71%

Housing Affordability: Northwest Florida is generally considered to be less expensive than the areas on the Atlantic coast near Miami, and Destin is no exception. The cost of living and home price-to-income ratio are both below national averages.

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The Takeaway

Florida is a popular place to live, and the combination of no state income tax and warm weather make it especially attractive to retirees. While there are parts of Florida where the cost of living is above the national average, there are still many cities that can be quite affordable. No matter what you’re looking for, there’s a good chance that there is somewhere in Florida for you.

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FAQ

Where is the nicest but cheapest place to live in Florida?

Pensacola, on the Gulf Coast of Florida, near Alabama, is a great option for those looking for Florida beaches and natural wonders at affordable prices. If you’re thinking of relocating to Florida, look at the cost of living of various areas and balance that against each city’s amenities and other factors.

Where is the safest and most affordable place to live in Florida?

Safety is a major concern for those exploring their best place to live, with both crime and severe weather being factors that determine people’s preferences. Cape Coral, with an average home value that hovers just above the national average, would be one place worth a closer look.

What part of Florida is safest from hurricanes?

Consider an inland city such as Orlando or Gainesville if you want to live in a larger town. If you’re open to a small city, look inland in the northeast corner of the state, which is the region least likely to be hit by a hurricane. Even these places have some risk of severe weather, and insurance prices reflect that.

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