Current home values in Florida

Home values have been rising throughout Florida and are up 1.4% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $682,669, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Florida: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $682,669 home at 3.33% would give a typical Florida homebuyer a monthly payment of $2,401, assuming a 20% down payment.

How the Florida housing market stacks up

Family sitting on a beach
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Beaches in Florida provide a nice day activity for families

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Florida, they're predicted to rise 5.1%.

Homes right now are going on the market in Florida at a median price of $186 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Florida home prices over the last 10 years

Year Avg. Price
2020* $251,019
2019 $247,625
2018 $236,358
2017 $217,225
2016 $193,392
2015 $173,842
2014 $159,200
2013 $143,767
2012 $132,700
2011 $132,825
2010 $145,125
2009 $160,008

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Florida is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $464,727
2019 $370,000
2018 $355,000
2017 $330,000
2016 $292,500
2015 $265,000
2014 $242,500
2013 $217,500
2012 $197,500
2011 $192,500
2010 $215,000
2009 $232,500

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."