Which Florida City Has Seen Home Prices Skyrocket by Over 62% Since 2020?

The average American home value based on median sales prices has reached $412,000 as of September 2024. Experts point to several reasons why housing costs are soaring. For one, there is high demand and not enough homes. Seniors are holding onto their houses rather than downsizing, and investors are buying up real estate, making it hard for the average person to compete. New construction can’t keep up the pace with the demand for new homes, so existing home prices are skyrocketing.

Florida is one of the hardest hit states for rising home prices. In Florida, the median list price among all homes on the market was $449,900 in July 2024, up 33.1% — or $111,900 — from the start of the pandemic. To find the Florida cities hit the hardest by rising home prices, 24/7 Wall St. used media list prices from March 2020 to July 2024. We ranked cities are ranked by the percent change.

Why It Matters

Since the start of the pandemic, limited supply and rising demand have fueled a surge in home prices. Now, with mortgage rates at their highest levels in over a decade, many would-be sellers are staying out of the market, further exacerbating a long-standing inventory shortage. Historically, homeownership has been a reliable means of building wealth — but rising prices and elevated borrowing costs have priced millions of Americans out of the market. Still, location matters in the real estate business, and some parts of Florida have borne the brunt of rising prices, while others have been largely shielded.

25. The Villages, FL

Change in median list price since start of pandemic: +26.4% (+$79,050)
Median home list price: $379,000 in July 2024; $299,950 in March 2020
Median list price per square foot: $255 in July 2024; $184 in March 2020
Size of a typical listed home: 1,555 sq. ft. in July 2024; 1,728 sq. ft. in March 2020

24. Arcadia, FL

Change in median list price since start of pandemic: +26.6% (+$75,550)
Median home list price: $360,000 in July 2024; $284,450 in March 2020
Median list price per square foot: $221 in July 2024; $135 in March 2020
Size of a typical listed home: 1,561 sq. ft. in July 2024; 1,909 sq. ft. in March 2020

23. Tallahassee, FL

Change in median list price since start of pandemic: +29.1% (+$69,950)
Median home list price: $309,950 in July 2024; $240,000 in March 2020
Median list price per square foot: $194 in July 2024; $139 in March 2020
Size of a typical listed home: 1,577 sq. ft. in July 2024; 1,685 sq. ft. in March 2020

22. Gainesville, FL

Change in median list price since start of pandemic: +29.5% (+$82,500)
Median home list price: $362,500 in July 2024; $280,000 in March 2020
Median list price per square foot: $215 in July 2024; $150 in March 2020
Size of a typical listed home: 1,648 sq. ft. in July 2024; 1,803 sq. ft. in March 2020

21. Pensacola-Ferry Pass-Brent, FL

Change in median list price since start of pandemic: +32.9% (+$93,502)
Median home list price: $377,475 in July 2024; $283,973 in March 2020
Median list price per square foot: $204 in July 2024; $135 in March 2020
Size of a typical listed home: 1,805 sq. ft. in July 2024; 2,025 sq. ft. in March 2020

20. Sebastian-Vero Beach, FL

Change in median list price since start of pandemic: +33.1% (+$112,000)
Median home list price: $450,000 in July 2024; $338,000 in March 2020
Median list price per square foot: $259 in July 2024; $176 in March 2020
Size of a typical listed home: 1,760 sq. ft. in July 2024; 1,906 sq. ft. in March 2020

19. Palm Bay-Melbourne-Titusville, FL

Change in median list price since start of pandemic: +33.3% (+$99,650)
Median home list price: $398,750 in July 2024; $299,100 in March 2020
Median list price per square foot: $238 in July 2024; $163 in March 2020
Size of a typical listed home: 1,772 sq. ft. in July 2024; 1,858 sq. ft. in March 2020

18. Jacksonville, FL

Change in median list price since start of pandemic: +34.5% (+$107,507)
Median home list price: $419,000 in July 2024; $311,493 in March 2020
Median list price per square foot: $227 in July 2024; $154 in March 2020
Size of a typical listed home: 1,808 sq. ft. in July 2024; 1,961 sq. ft. in March 2020

17. North Port-Sarasota-Bradenton, FL

Change in median list price since start of pandemic: +34.5% (+$128,200)
Median home list price: $499,450 in July 2024; $371,250 in March 2020
Median list price per square foot: $287 in July 2024; $192 in March 2020
Size of a typical listed home: 1,730 sq. ft. in July 2024; 1,853 sq. ft. in March 2020

16. Orlando-Kissimmee-Sanford, FL

Change in median list price since start of pandemic: +36.5% (+$118,291)
Median home list price: $442,241 in July 2024; $323,950 in March 2020
Median list price per square foot: $238 in July 2024; $157 in March 2020
Size of a typical listed home: 1,859 sq. ft. in July 2024; 2,069 sq. ft. in March 2020

15. Punta Gorda, FL

Change in median list price since start of pandemic: +39.9% (+$114,122)
Median home list price: $399,997 in July 2024; $285,875 in March 2020
Median list price per square foot: $241 in July 2024; $162 in March 2020
Size of a typical listed home: 1,702 sq. ft. in July 2024; 1,760 sq. ft. in March 2020

14. Cape Coral-Fort Myers, FL

Change in median list price since start of pandemic: +40.6% (+$129,951)
Median home list price: $449,950 in July 2024; $319,999 in March 2020
Median list price per square foot: $267 in July 2024; $173 in March 2020
Size of a typical listed home: 1,718 sq. ft. in July 2024; 1,794 sq. ft. in March 2020

13. Deltona-Daytona Beach-Ormond Beach, FL

Change in median list price since start of pandemic: +43.1% (+$120,500)
Median home list price: $399,950 in July 2024; $279,450 in March 2020
Median list price per square foot: $247 in July 2024; $161 in March 2020
Size of a typical listed home: 1,673 sq. ft. in July 2024; 1,756 sq. ft. in March 2020

12. Homosassa Springs, FL

Cute Homosassa Springs, Florida Sign by David Byron Keener

Cute Homosassa Springs, Florida Sign (Shutterstock.com) by David Byron Keener

Change in median list price since start of pandemic: +45.4% (+$102,100)
Median home list price: $327,000 in July 2024; $224,900 in March 2020
Median list price per square foot: $196 in July 2024; $124 in March 2020
Size of a typical listed home: 1,672 sq. ft. in July 2024; 1,829 sq. ft. in March 2020

11. Palatka, FL

Change in median list price since start of pandemic: +48.0% (+$103,000)
Median home list price: $317,450 in July 2024; $214,450 in March 2020
Median list price per square foot: $211 in July 2024; $121 in March 2020
Size of a typical listed home: 1,604 sq. ft. in July 2024; 1,701 sq. ft. in March 2020

10. Ocala, FL

Change in median list price since start of pandemic: +48.8% (+$101,597)
Median home list price: $309,950 in July 2024; $208,353 in March 2020
Median list price per square foot: $191 in July 2024; $118 in March 2020
Size of a typical listed home: 1,652 sq. ft. in July 2024; 1,752 sq. ft. in March 2020

9. Lakeland-Winter Haven, FL

Change in median list price since start of pandemic: +49.0% (+$115,045)
Median home list price: $349,945 in July 2024; $234,900 in March 2020
Median list price per square foot: $198 in July 2024; $128 in March 2020
Size of a typical listed home: 1,821 sq. ft. in July 2024; 1,836 sq. ft. in March 2020

8. Tampa-St. Petersburg-Clearwater, FL

Change in median list price since start of pandemic: +49.6% (+$140,950)
Median home list price: $424,950 in July 2024; $284,000 in March 2020
Median list price per square foot: $254 in July 2024; $159 in March 2020
Size of a typical listed home: 1,617 sq. ft. in July 2024; 1,757 sq. ft. in March 2020

7. Panama City, FL

Change in median list price since start of pandemic: +52.2% (+$154,232)
Median home list price: $449,900 in July 2024; $295,668 in March 2020
Median list price per square foot: $347 in July 2024; $185 in March 2020
Size of a typical listed home: 1,424 sq. ft. in July 2024; 1,542 sq. ft. in March 2020

6. Lake City, FL

Change in median list price since start of pandemic: +53.8% (+$118,000)
Median home list price: $337,450 in July 2024; $219,450 in March 2020
Median list price per square foot: $191 in July 2024; $114 in March 2020
Size of a typical listed home: 1,806 sq. ft. in July 2024; 1,852 sq. ft. in March 2020

5. Okeechobee, FL

Change in median list price since start of pandemic: +54.8% (+$123,900)
Median home list price: $349,900 in July 2024; $226,000 in March 2020
Median list price per square foot: $227 in July 2024; $131 in March 2020
Size of a typical listed home: 1,533 sq. ft. in July 2024; 1,657 sq. ft. in March 2020

4. Port St. Lucie, FL

Change in median list price since start of pandemic: +54.9% (+$159,421)
Median home list price: $450,000 in July 2024; $290,579 in March 2020
Median list price per square foot: $258 in July 2024; $161 in March 2020
Size of a typical listed home: 1,760 sq. ft. in July 2024; 1,829 sq. ft. in March 2020

3. Key West, FL

Change in median list price since start of pandemic: +61.3% (+$490,175)
Median home list price: $1,289,675 in July 2024; $799,500 in March 2020
Median list price per square foot: $905 in July 2024; $545 in March 2020
Size of a typical listed home: 1,512 sq. ft. in July 2024; 1,574 sq. ft. in March 2020

2. Sebring-Avon Park, FL

Change in median list price since start of pandemic: +61.6% (+$120,075)
Median home list price: $315,000 in July 2024; $194,925 in March 2020
Median list price per square foot: $198 in July 2024; $115 in March 2020
Size of a typical listed home: 1,580 sq. ft. in July 2024; 1,638 sq. ft. in March 2020

1. Naples-Marco Island, FL

Change in median list price since start of pandemic: +62.1% (+$295,000)
Median home list price: $770,000 in July 2024; $475,000 in March 2020
Median list price per square foot: $438 in July 2024; $246 in March 2020
Size of a typical listed home: 1,807 sq. ft. in July 2024; 1,900 sq. ft. in March 2020