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Whether you’re a renter who dreams of home buying or a future retiree who wishes to find the place to live out the rest of your golden years, what’s ultimately driving affordability in Florida’s last attainable housing markets are rates that already were low in the first place before the pandemic started. That implies that it’s not just the cost of living that’s low in these locations, but also the cost of buying a home. And that’s good news for homebuyers who have a real chance at owning a home in some of the nation’s top housing markets.
So more affordable locations of the US are in high demand as home purchasers browse for property that provide more room to spread out. That could mean moving farther away from a central areas into surrounding suburbs or from a costly neighborhood to a low-cost area. In the long run, this trend could mean that some of these markets become more expensive as demand goes up and supply starts to fall. But, for now, they’re still low-cost places to buy a home. It’s also worth noting that many neighborhoods are located in states with affordable housing taxes. That implies that they provide a lower cost of owning an apartment and can make them even more appealing for home purchasers.