Buying a home is one of the biggest investments. We share with you the 5 most expensive cities in Florida to buy a home.
Buying a home in the United States is one of the largest investments, so it can be quite expensive.
According to data from Zillow, a well-known real estate market company, the average value of a home in the U.S. is $363,438, 3.8% more than last year.
On the other hand, high mortgage rates have also increased monthly payments. According to Bankrate, as of July 23, the 30-year fixed mortgage rate is 6.87%, falling 5 basis points in the last seven days.
Home prices have inflated across the U.S., but there are some cities that are priced even higher. Location, size, age and the state they are in are some of the factors contributing to home values.
Florida is one of the states with relatively more affordable homes compared to other entities although above the national average value. Nevertheless, it has cities with homes worth millions of dollars.
The 5 most expensive cities in Florida to buy a house in
According to Zillow, the median home value in Florida is $398,077, higher than the national average and up 2.5% from last year.
According to a Stacker report, based on Zillow data, the metropolitan areas with the most cities in the top 30 most expensive cities in Florida are Miami-Fort Lauderdale-Pompano Beach; Key West; Cape Coral-Fort Myers; North Port-Sarasota-Bradenton; Orlando-Kissimmee-Sanford; and Sebastian-Vero Beach.
On the other hand, according to the most recent Zillow home value report data, the Florida cities with the most expensive homes are:
1. Jupiter Island
The median home value in Jupiter Island is $9,683,951, down 0.8% from last year.
2. Golden Beach
The median home value in Golden Beach is $7,609,088, up 2.5% from last year.
3. Fisher Island
The median home value on Fisher Island is $6,485,558, up 8.6% from last year.
4. Lake Buena Vista
The median home value in Lake Buena Vista is $5,310,757, up 5.8% from last year.
5. Manalapan
The average value of a home in Manalapan is $4,168,887, up 6.7% from last year.