6 Florida Places You Might Not Be Able To Afford Now Due to Fast-Growing Home Sale Prices

Home listings in Florida are up 40.1% year over year, according to RedFin. When a housing market has a supply increase like that, it tends to decrease home prices . But what’s true for the state overall isn’t necessarily true for every metro area.

Take, for example, the following Florida cities. Even though listings are up across the state, each of these metro areas is still seeing growth in housing prices.

Here’s a look at six Florida housing markets that have seen explosive sale price growth over the past two years.

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Lauderhill

Lauderhill home prices are up an impressive 62% compared to this time last year. The median home now sells for about $275,000. So what’s causing this growth?

One answer is the city’s location. It’s an 8.5-square-mile city within the Fort Lauderdale metro area, according to its official website. The region is home to miles of beautiful beaches and all of the amenities you’d expect from a large city. It’s even home to a few professional sports teams, such as the Stanley Cup-winning Florida Panthers.

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Coconut Creek

Next up is Coconut Creek — a community of about 57,000 people that sits just north of Fort Lauderdale, according to World Population Review. Home prices here are up 40.5% year over year and now sell for a median price of about $400,000.

Like Lauderhill, Coconut Creek has benefited from the ongoing growth of Florida’s major cities. As more and more people move to the area, many are settling in communities like Coconut Creek.

These places are close enough to the big city to make commuting reasonable. But they offer much lower housing prices than Miami and Fort Lauderdale proper. For example, while houses in Coconut Creek cost around $400,000, that figure shoots up to $615,000 for Miami and $540,000 for Fort Lauderdale.

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Estero

Estero is another Floridian city experiencing persistent growth in housing prices. The city’s median home now sells for $560,000, up about 21% year over year. It’s located between Naples and Fort Myers in the southwestern part of the state.

Estero’s population is relatively tiny, at around 38,000, according to World Population Review. But nature lovers will be hard-pressed to find a better place in Florida to call home. Nearby Fort Myers has hundreds of miles of shoreline; white, sandy beaches; and an average year-round temperature of 75 degrees Fahrenheit.

Pembroke Pines

Pembroke Pines is another place you might not be able to afford soon. Its median home sale price has grown 24.6% year over year, now sitting at $530,000.

This is also one of the largest cities in Broward County, with nearly 170,000 residents, according to its official website. That makes Pembroke Pines a solid choice if you’re interested in being close to Miami but aren’t interested in living within the city itself.

Weston

If your budget is a little higher than the other options on this list, Weston may also be worth considering. Its median home sells for $895,000 — more than double the price of Coconut Creek. The city is technically a suburb of Miami, as it’s located about 31 miles northwest of the metro area.

Maybe you want to live near Miami but don’t like the idea of buying a home in the city. If so, Weston would be a suburb to consider now before prices increase further.

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Ocoee

Redfin calls Ocoee one of the most competitive housing markets in all of Florida. Its median home sale price sat at $430,000 in July 2024.

Ocoee is a suburb of Orlando with a population of just under 50,000, according to its official website. If you’re interested in moving to central Florida, Ocoee offers a small-town feel without making you sacrifice easy access to the amenities of a larger metro area.

Putting These Numbers Into Context

These housing numbers offer a nice glimpse into the uneven growth of the Floridian housing market. However, things can change quickly.

For instance, Lauderhill’s year-over-year growth of 62% looks incredible, but that metric compares only housing data from last July to the data collected this July. A few unusually busy months of buying and selling could easily skew the results.

That’s just to say, don’t rush into buying a home in one of these areas just because prices look like they’ll never stop increasing. You may be able to get a deal in your dream Florida location sooner than you think.

^{*Housing market data sourced from RedFin, unless otherwise stated.}

This article originally appeared on GOBankingRates.com : 6 Florida Places You Might Not Be Able To Afford Now Due to Fast-Growing Home Sale Prices