Florida is one of the most popular places to go on vacation in the U.S. According to Visit Florida, The Sunshine State saw 137.6 million visitors in 2022, up 12.9% from 2021 and up 5% from its previous record in 2019.
For those who can afford it and know they will enjoy the environment on a frequent basis, buying a vacation home in Florida can be a wise investment. Plus, it’s an excellent state for retirees (no state taxes!), so if you decide to relocate there in your golden years, your vacation home could potentially transform into your permanent abode.
A new survey by GOBankingRates found that 22% of respondents choose Florida as their vacation home spot, making it the most popular location for this investment.
Where are the most affordable places to buy a vacation home in Florida? Let’s explore.
- Median home price, according to Zillow: $369,540
Fort Myers’ white sand beaches and safe neighborhoods are a Floridian treasure. Its beauty doesn’t come cheaply; according to PayScale, Fort Myers’ cost of living is 9% higher than the national average. Home values are climbing here — up 1.8% year over year, according to Zillow.
- Median home price, according to Zillow: $380,889
Its hip scene and friendly community make Cape Coral a lovely place to vacation — and it’s very close to Fort Myers. The cost of living here is steep — 9% higher than the national average, according to PayScale, but home prices have been ticking down. According to Zillow, they’re down 5.2% year over year.
- Median home price, according to Realtor.com: $472,000
Just a half hour from Fort Myers, Pine Island boasts a peaceful, laid-back environment with lots of opportunities for fishing and canoeing. With a median home price of $472,000, this is one of the more affordable Florida spots on this list.
- Median home price, according to Zillow: $261,114
Lehigh Acres is the most affordable part of Florida to own a vacation home, as featured on this list. The median home price is $261,114, up 1.9% year over year, according to Zillow. Lehigh Acres’ housing expenses are 11% lower than the national average, according to PayScale.
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