Deciding between buying and renting in Florida just got easier. The state’s most affordable cities for homebuyers may make you rethink your lease-signing plans.
Some towns offer home prices so low that the monthly payment matches or undercuts rents in larger nearby cities.
If you’re ready to become a homeowner but have been intimidated by Florida’s rising prices, it’s worth looking into these 10 towns.
Affordable Florida Cities and Typical Home Prices
| Ranking | City | Average Home Cost |
|---|---|---|
| 1 | Quincy | $169,048 |
| 2 | Palatka | $202,610 |
| 3 | Avon Park | $206,572 |
| 4 | Holiday | $223,221 |
| 5 | Port Richey | $227,813 |
| 6 | Defuniak Springs | $229,162 |
| 7 | Inverness | $239,296 |
| 8 | Sebring | $240,004 |
| 9 | Lake Placid | $240,188 |
| 10 | Lake Wales | $243,784 |
1. Quincy - $169,048
The typical house in Quincy didn’t break $100,000 until August 2020, according to Zillow, but has since risen nearly 70%. Despite the high percentage increase, homes here remain incredibly affordable. Just 30 minutes from Tallahassee, this town could be an inexpensive alternative to the state capital, where home prices top $295,000. Buying the typical home in Quincy comes with an estimated monthly price tag of $1,292.
2. Palatka - $202,610
Located along the St. Johns River, the city of Palatka is home to around 11,000 residents and is steeped in small-town charm. From fishing and boating to golfing and even skydiving, there are enough local activities to keep anyone active. That’s not to mention popular annual events such as the Florida Azalea Festival, Bostwick Blueberry Festival, and Blue Crab Festival. The monthly cost of buying a home in Palatka? An estimated $1,548.
3. Avon Park - $206,572
This small town of around 10,000 residents offers golf courses, museums, and numerous public outdoor spaces. And with home prices just over $200,000, residents will have plenty of money left over each month to enjoy local attractions. The estimated monthly mortgage payment for the typical home in Avon Park is just $1,579.
4. Holiday - $223,221
Situated along the Gulf of America, northwest of Tampa, Holiday lives up to its name. Surprisingly affordable for a beach town, Holiday could be the perfect landing spot for budget-conscious homeowners who love water sports, beach combing, and boating. The average home in Holiday will set you back a very reasonable estimated $1,706 per month.
5. Port Richey - $227,813
Another Gulf-front Tampa suburb, Port Richey offers homes at a deep discount to Tampa’s average single-family home price of $384,000. Enjoy natural landscapes, miles of biking trails, and, of course, plenty of water-based activities. Prospective buyers can snag a home in Port Richey for an average estimated monthly cost of $1,741.
6. Defuniak Springs - $229,162
With a population of just over 6,000, Defuniak Springs is undoubtedly a small town. Still, there’s no shortage of things to do here, with a scenic historic district, outdoor activities, and a weekly farmers market. Located in the Florida panhandle, the city sits within two hours of Pensacola, Tallahassee, and Mobile, Alabama, and less than an hour from the popular waterfront destination of Panama City Beach. Buying the typical home in Defuniak Springs comes with an estimated monthly mortgage payment of $1,751.
7. Inverness - $239,296
Visit the longest paved recreation trail in Florida, the Withlacoochee State Trail, which is 46 miles long. But more than just bicycle enthusiasts will enjoy this small town of around 7,000: it also offers parks, live theatre, museums, and more. The average monthly cost of buying a home in Inverness? A budget-friendly $1,829.
8. Sebring - $240,004
The main attraction in this town is the Sebring Raceway, which hosts numerous race-related events throughout the year. What’s even more exciting, though, is that the entire city is eligible for the zero-down USDA home loan, thanks to its small population of just 11,000. Conventional borrowers purchasing in Sebring can anticipate estimated mortgage payments of $1,834 per month.
9. Lake Placid - $240,188
It’s not the city in New York, and they’ll probably never host the Winter Olympics here, but the small Florida town of Lake Placid offers plenty of charm in its own right. Known as the “Town of Murals,” you’ll find more than 45 large outdoor art displays scattered across the city. Living in Lake Placid is affordable as well, with the average home estimated to have a monthly mortgage cost of just $1,836.
10. Lake Wales - $243,784
While much of Florida is flat, the city of Lake Wales is known for its scenic rolling hills, the 205-foot Bok Tower, and the nearby Westgate River Ranch Resort & Rodeo, the largest dude ranch east of the Mississippi River. Local employment opportunities include agriculture, healthcare, and education, making it easy to afford the city’s average estimated mortgage payment of $1,863 per month.
Get Pre-Approved for Your Florida Home
Many towns and cities across Florida are affordable for just about any budget. From waterfront communities like Holiday and Port Richey to the small-town charm of Lake Placid and Defuniak Springs, Florida has a diverse variety of reasonably priced places to live. See what home price you qualify for by requesting your pre-approval today..
Methodology
To find the 10 most affordable housing markets in Florida, we started with average home prices as reported on the Zillow Home Value Index (ZHVI) Single-Family Home Time Series for November 2025. We assumed a 5% down payment, the typical requirement for first-time buyers. We then calculated the monthly payment on a 30-year fixed mortgage at 6.395%, the recent 30-day average from rate marketplace I Can Buy based on a buyer with a 700 credit score putting 5% down. We added PMI costs per mortgage insurance provider MGIC and tax rates by state from TaxFoundation.org. Homeowner’s insurance estimates were calculated using Nerdwallet’s cost in each state for $300,000 in dwelling coverage. We multiplied this rate by 67.8%, the U.S. average of total market value represented by the structure according to ResiClub (since homeowners insurance is based on the structure, not total value). We then multiplied this rate by the average home’s total market value. We assumed no HOA dues. To increase relevancy, we limited eligible cities to the top 3,000 largest by population nationwide per Zillow data.
Estimated payments are for example purposes only. Not a commitment to lend.
