We’re Real Estate Agents: These Are the 8 Florida Cities a $400K Budget Can’t Afford
Written by
Allison Hache
Edited by
Jasmine Browley
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Not long ago, a $400,000 budget could get you a comfortable home in many Florida cities. But with more than 1 million people moving to the Sunshine State since 2020, that same budget barely gets you in the door — literally.
With rising demand, limited inventory, pricey mortgages and increasing property insurance costs, many of Florida’s most desirable cities have seen median home prices climb past the $400,000 mark, making it harder for buyers to find move-in-ready homes in their price range.
Here are eight cities where $400,000 no longer stretches as far as it used to.
Bradenton
- Average home sale price: $435,500
Once a quieter alternative to Sarasota, Bradenton has become a sought-after destination for buyers looking for Gulf Coast charm without the premium price tag. However, as demand rises, so do home prices.
Why it’s expensive: The area offers a coastal lifestyle and proximity to amenities in Sarasota, Tampa and St. Petersburg at a more affordable entry point — though prices are catching up fast.
The downside: Flood insurance is getting pricey and hurricanes Helene and Milton damaged the area, making hurricane-proofing a priority.
Cape Coral-Fort Myers
- Average home sale price: $386,800
Cape Coral and Fort Myers have long been attractive for their Gulf Coast locations and laid-back lifestyle. While the median price is technically below $400,000, buyers at this price point are settling for smaller homes or fixer-uppers.
Why it’s expensive: Waterfront living, a surge in new construction and Florida’s low taxes continue to push prices higher.
The downside: Rapid growth has outpaced infrastructure development, leading to potential challenges with transportation, utilities and public services.
Clermont: From Hidden Gem to High-Priced Suburb
- Average home sale price: $440,000
Why it’s expensive: Many families are moving here to escape Orlando’s congestion while still being close to job opportunities.
The downside: Many homes need updates and homeowners association fees are climbing in newer developments.
Homestead: Gateway to the Keys
- Average home sale price: $485,000
Why it’s expensive: The area offers suburban living with access to Miami, making it a more affordable alternative for those priced out of the metro area.
The downside: Prices have skyrocketed due to high demand, but hurricane risks remain a concern.
Orlando: Entertainment and Tourism Capital
- Average home sale price: $388,100
Why it’s expensive: The city’s entertainment hubs, growing population and steady tourism revenue continue to attract new residents.
The downside: Buyers face a tough choice — older homes that may need updates or pricey new builds with high HOA fees. Property taxes and insurance are rising fast.
St. Petersburg: Sunshine City With Artistic Flair
- Average home sale price: $427,000
Why it’s expensive: It’s walkable, has cultural attractions and is flooded with new residents looking for coastal living without Miami prices.
The downside: HOA fees in new developments are sky-high, adding to the cost.
Sarasota: Coastal Elegance and Cultural Hub
- Average home sale price: $527,700
Why it’s expensive: Gulf Coast beauty, a vibrant cultural scene and an increasing number of affluent buyers have pushed prices higher.
The downside: High property taxes and soaring insurance premiums after Hurricane Milton add to the expense. Limited inventory means buyers may need to pay well above the asking price.
Tampa: Booming City on the Bay
- Average home sale price: $430,000
Why it’s expensive: A revitalized downtown, strong job market, and limited inventory have fueled intense competition, driving home prices up.
The downside: Many homes under $400,000 are outdated or need significant repairs.
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