These Florida Cities Have Astronomical Home Prices Compared To Typical Market Predictions

The cost of living in Florida is a pretty penny, and their skyrocketing prices for rentals and home purchases reflect that. While Miami is known to be one of the most expensive in the luxury world, the common person is showing demand elsewhere.

Florida Atlantic University's College of Business did a study on the average price of homes listed as of July 31. They ranked different cities based on the percentage difference in market expectations if there were to be steady growth (premiums/discounts).

Fort Myers takes the crown for the highest premium increase in the state at 62%. The values of homes average at $430,131, which is more than half of what people should be paying. The market predicted it would be $265,142.80.

North Port-Sarasota-Bradenton region, just south of Tampa, currently has properties centered around $502,186. If the market stayed at a steady incline, the anticipated price would have been $322,430. This is about $180,000 more than what was expected of buyers. It's about a 56% premium to put down on a home.

It ranks fourth in the state because the gap isn't as shocking as it is in Fort Myers, which leads to Miami.

The Magic City has a boastful economy, and because of this, it comes in last place out of those researched in the state since the value between the average price and predicted price is only a 37.68% difference.

Shockingly, buying a home in this popular region is less than on the West Coast. A typical listing in the South Florida town is $467,759. The expected monetary listing was $339,742.70.

As far as the Top 100 national market ranks, Fort Myers sits at No. 3, North Port-Sarasota-Bradenton is at No. 11 and Miami-Fort Lauderdale is at No. 38.