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With fabulous beaches, Florida is one of the most popular American states. It is known for its rich history, warm climate, and a high-quality education system besides the booming tourism industry. For those who desire a lot of crazy action, there are amusement parks that offer fun for all ages.
Florida also features stunning wildlife, abundant lakes, as well as a plethora of natural resources. It is home to coastal towns near the Atlantic Ocean and large cities such as Orlando, Miami, and Jacksonville.
Are you interested in rent to buy homes in Florida? Bear in mind that the homeownership rate is higher than the average. With so many rent to own realtors and foreclosed homes, it can be hard to find the ideal rent deal.
We want to make your search experience as seamless and easy as possible. That’s why we have highlighted the best rent to own homes in Florida. Take a look below!
Purchasing a Home in Florida
At approximately $250,000, the median home value is still reasonable in Florida. The housing prices have gone up 3.6 percent over the past year. Likewise, the average selling price of homes is $247,600. If you’re searching for lease to purchase homes, note that the rent price is $1,780 on average.
It is also important to note that the prices vary widely from city to city. For example, the median home cost in Aventura is $316,000, while it goes as low as $184,500 in Tallahassee.
Generally speaking, the southern regions of the state feature the highest real estate price. A lot of regions have below-the-average home prices though. The cities like Palm Bay, Punta Gorda, Tampa, Ocala, and Pensacola have less competition and hence affordable home pricing.
Renting to Own a Home in Florida
Renting out a house provides various benefits to homebuyers. Rent-to-buy home and lease-to-purchase programs that don’t involve any credit check are ideal for those with bad credit. Otherwise, they would have a tough time qualifying for a mortgage.
If you decide to take this route, keep in mind that you will have to pay some fees such as rent credits and option fees. Unlike the rent cost, these fees do not impact the overall price despite counting as home equity.
Florida Cost of Living
Florida features the cost of living that’s about 2.8% higher than in other parts of the country. Even so, utilities are quite affordable in this state. Other living expenses are slightly higher or the same as the national average.
Miami Beach, for example, is one of the state’s most expensive cities with the extremely high cost of living (around 26% higher than the national average). On the other hand, Tarpon Springs, Tavares, Dunedin, and Edgewater are cities with the lowest cost of living despite being located in the vicinity of big metropolitan areas.
Situated in the southeastern part of the U.S., the state of Florida extends into a panhandle to the northwest. It’s bordered by the Straits of Florida, the Atlantic Ocean, and the Gulf of Mexico. It also has the border with Alabama and Georgia to the north.
Housing prices are on the rise across the state due to a growing number of international investors and buyers. Nevertheless, it is still possible to find affordably priced homes in many appealing regions and cities in Florida.
We know how important it is to find the best deal when buying a new home. It’s a big challenge for many homebuyers. They often have to experiment with a lot of options to find one that perfectly suits their needs. To narrow down your options, check out our rental listings and go from there.
Reported Annual Crime In Florida