13 States That Have Cheaper Housing Than Florida
Because it enjoys a warm climate all year, Florida has always attracted Northerners flocking southward for a temporary respite from the cold snap of late fall to early spring. However, the Sunshinte State has seen a remarkable increase of people moving there permanently since the start of the pandemic.
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According to the U.S. Census, between July 2021 and July 2022 alone, Florida’s population increased by more than 400,000, making it the fastest-growing state for the first time in 65 years. For a state that already has the third-largest population in the country, those are stunning migration numbers.
That said, while housing in Florida was once rather affordable, the average Florida home value is now $399,807, up 3.4% over the past year and around $41,000 higher than the national average, according to Zillow. Although Florida has no state tax, the cost of living is right around the U.S. average, and while there exists cheaper houses in inland cities — Lake City, Pensacola, Panama City — Florida is getting more expensive all the time.
If you’re looking to pull up stakes and move to a new state to live in, Florida has features that would appeal to almost everyone. But it is by all means not the least expensive state for housing. If saving money is your prime objective, there are many states where housing is much cheaper than Florida, and many with as agreeable weather too.
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Here are 13 states that have cheaper housing than Florida. There are some important figures to consider, including recent Zillow average home values and median sale prices, April 2024 state median annual incomes (courtesy of CNBC Make It, using U.S. Bureau of Labor Statistics data) and the May 2024 median monthly rent, per Zillow Rental Data:
13. North Dakota
Average Home Value (Apr. 30, 2024): $257,599
Median Sale Price (Mar. 31, 2024): $185,300
Median Annual Income (April 2024): $48,830
Median Monthly Rent (May 2024): $950
12. Missouri
Average Home Value (Apr. 30, 2024): $247,255
Median Sale Price (Mar. 31, 2024): $228,267
Median Annual Income (April 2024): $45,080
Median Monthly Rent (May 2024): $1,300
11. Indiana
Average Home Value (Apr. 30, 2024): $241,778
Median Sale Price (Mar. 31, 2024): $222,667
Median Annual Income (April 2024): $45,470
Median Monthly Rent (May 2024): $1,368
10. Alabama
Average Home Value (Apr. 30, 2024): $228,241
Median Sale Price (Mar. 31, 2024): $218,050
Median Annual Income (April 2024): $41,350
Median Monthly Rent (May 2024): $1,400
9. Ohio
Average Home Value (Apr. 30, 2024): $227,542
Median Sale Price (Mar. 31, 2024): $188,417
Median Annual Income (April 2024): $46,690
Median Monthly Rent (May 2024): $1,289
8. Kansas
Average Home Value (Apr. 30, 2024): $226,870
Median Sale Price (Mar. 31, 2024): $271,868
Median Annual Income (April 2024): $45,250
Median Monthly Rent (May 2024): $1,200
7. Iowa
Average Home Value (Apr. 30, 2024): $217,641
Median Sale Price (Mar. 31, 2024): $197,583
Median Annual Income (April 2024): $46,460
Median Monthly Rent (May 2024): $1,092
6. Kentucky
Average Home Value (Apr. 30, 2024): $207,548
Median Sale Price (Mar. 31, 2024): $229,933
Median Annual Income (April 2024): $43,730
Median Monthly Rent (May 2024): $1,338
5. Oklahoma
Average Home Value (Apr. 30, 2024): $206,689
Median Sale Price (Mar. 31, 2024): $203,667
Median Annual Income (April 2024): $41,480
Median Monthly Rent (May 2024): $1,395
4. Arkansas
Average Home Value (Apr. 30, 2024): $206,394
Median Sale Price (Mar. 31, 2024): $212,230
Median Annual Income (April 2024): $39,060
Median Monthly Rent (May 2024): $1,403
3. Louisiana
Average Home Value (Apr. 30, 2024): $202,392
Median Sale Price (Mar. 31, 2024): $214,383
Median Annual Income (April 2024): $41,320
Median Monthly Rent (May 2024): $1,500
2. Mississippi
Average Home Value (Apr. 30, 2024): $179,749
Median Sale Price (Mar. 31, 2024): $185,300
Median Annual Income (April 2024): $37,500
Median Monthly Rent (May 2024): $1,400
1. West Virginia
Average Home Value (Apr. 30, 2024): $163,443
Median Sale Price (Mar. 31, 2024): $185,300
Median Annual Income (April 2024): $39,770
Median Monthly Rent (May 2024): $995
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