What’s the cheapest city in Florida to live in?

Home listing prices in Florida’s high-demand areas often soar well above the national median. The cost of living in these places also reflects the expensive lifestyle. Still, many cities across the Sunshine State present more budget-friendly options for prospective homeowners. For mortgage brokers, having this information is beneficial—especially if your clients don’t want to break the bank to buy property.  

In this article, Mortgage Professional America has listed the cheapest cities in Florida to live in for home buyers. These locations combine affordable real estate prices with reasonable cost of living. We will highlight the median household incomes needed to comfortably support local expenses. You will also find the average commute times for each city. 

Top 10 cheapest cities in Florida to live in 

Florida is known for its sunny weather and vibrant lifestyle. But living in the Sunshine State doesn’t have to come with a high price tag. If you have clients who are looking for affordable places to call home, we found the 10 least expensive cities in this state. 

Check out this comparative table below: 

Let's take a closer look at each Floridian city below: 

1. Palatka 

• Average home value: $195,262 
• Median household income: $33,628 
• Mean travel time to work: 23.3 minutes 
• Cost of living score: 81.9 

For those who are after breathtaking views such as natural wetlands, beautiful rivers, and traditional ranches, Palatka is the place to be. The cost of living here is 18.1% lower than the national average and 20.6% lower than Florida’s state average. Palatka is the principal city of Putnam County. 

Travel is easy for renters and home buyers due to its transportation system. Residents can go to their workplace in less than 30 minutes. 

If your clients are looking for recreational activities and outdoor parks for leisure, here are some that they can visit: 

• Hank Bryan Park 
• Veteran's Memorial Park 
• James C. Godwin Riverfront Park 
• Ravine Gardens State Park 

Watch this video to discover some of the most picturesque sceneries in Palatka City: 

Are your clients looking for other locations aside from Florida? You can help them by checking out this guide to the cheapest states to buy a house in the US. 

2. Arcadia 

• Average home value: $241,094 
• Median household income: $116,142 
• Mean travel time to work: 30.3 minutes 
• Cost of living score: 81.1 

Arcadia is a small city in DeSoto County that serves as the county seat. It was founded in 1886 when a railway first connected the area. Today, Arcadia has transformed from a modest railroad town into a community with a rich historical heritage. 

Its downtown area is recognized as a historic district and features well-preserved, early 20th century architecture. It also has local shops and community spaces that reflect its colorful past. 

3. Daytona Beach 

• Average home value: $246,468 
• Median household income: $50,130 
• Mean travel time to work: 21.1 minutes 
• Cost of living score: 94.9 

For the third spot on the list of cheapest cities in Florida to live in, we have Daytona Beach. This is a coastal resort city in Volusia County known for its hard-packed beaches and popular motorsports events. 

Daytona Beach's economy is strongly supported by tourism. They have attractions like the Daytona International Speedway hosting events such as the Daytona 500. 

• Turie T. Small Elementary 
• Champion Elementary 
• Palm Terrace Elementary 
• Westside Elementary 
• R.J. Longstreet Elementary 
• Beachside Elementary 

4. Pensacola 

• Average home value: $254,255 
• Median household income: $72,699 
• Mean travel time to work: 21.5 minutes 
• Cost of living score: 89 

Pensacola is found in the northwestern part of the Florida Panhandle. It was established in 1698 and is one of the oldest cities in the country. The city has many historic buildings and museums that tell the story of its long past. 

For its cost of living, Pensacola scores 11% lower than the national average and 13.7% lower than Florida’s.  

If your clients are curious about Pensacola’s transportation system, let them know that the average commute time here is no more than 25 minutes. 

5. Fort Pierce 

• Average home value: $267,151 
• Median household income: $49,374 
• Mean travel time to work: 26.6 minutes 
• Cost of living score: 98.6 

This city was named after the Fort Pierce army post that was made in 1838 during the Second Seminole War. If your clients are interested in places with rich histories, try recommending Fort Pierce. Here are some tourist spots that they might want to visit: 

• Old Fort Park 
• Old Fort Pierce City Hall 
• Lincoln Park Main Street 
• Heathcote Botanical Gardens 
• Smithsonian Marine Ecosystem Exhibit 

Here is a walkthrough video if you want to see more of Fort Pierce’s beauty: 

Fort Piece is one of the cheapest cities in Florida to live in due to factors like the affordable cost of living. It scores 1.4% below the national average and 4.4% below Florida’s state average. 

6. Titusville 

• Average home value: $272,014 
• Median household income: $49,680 
• Mean travel time to work: 23.6 minutes 
• Cost of living score: 95.6 

The sixth cheapest city in Florida to live in is the county seat of Brevard County on Florida’s east coast. Titusville is located near the Kennedy Space Center and is known as the Miracle City. Titusville grew along with the space program and features local parks and historic areas such as: 

• Spell House 
• Pritchard House 
• Titusville Commercial District 
• St. Gabriel's Episcopal Church 
• US Space Walk of Fame and Museum 
• United States Astronaut Hall of Fame 
• Valiant Air Command Warbird Museum 
• American Police Hall of Fame & Museum 

7. Ocala 

• Average home value: $272,516 
• Median household income: $53,520 
• Mean travel time to work: 18.8 minutes 
• Cost of living score: 87 

Ocala is known for its equestrian culture. This city derives revenue from the horse industry and is known as the Horse Capital of the World. This is due to having large farms that house numerous thoroughbred horses. A lot of jobs are sustained by breeding and training these animals. 

On top of that, it offers affordable housing and plenty of outdoor activities. This makes it an attractive place for families and retirees who want to buy property. 

Watch this video to see more of what Ocala can offer: 

Aside from Ocala and other cheap cities in Florida to live in, your clients might be eyeing other locations in the country. Help them by recommending some of the most affordable places to live in the US. 

8. Winter Haven 

• Average home value: $282,609 
• Median household income: $59,604 
• Mean travel time to work: 28.3 minutes 
• Cost of living score: 91.6 

Winter Haven can be found in Polk County in central Florida. It is known for its many lakes, which are a key feature of the community. Winter Haven is part of the Lakeland-Winter Haven, Florida Metropolitan Statistical Area as a principal city. 

If your clients are into sports, Winter Haven provides residents with many opportunities for outdoor activities and sports events. This includes: 

• baseball 
• water skiing 
• kayaking 
• swimming 
• basketball 

9. Palm Bay 

• Average home value: $307,613 
• Median household income: $67,521 
• Mean travel time to work: 27.6 minutes 
• Cost of living score: 95.6 

Palm Bay has a cost-of-living score that is 4.4% lower than the national average. It is also 7.3% lower than the average score in Florida. This city has a suburban vibe with a mix of residential neighborhoods and commercial areas. Over the years, Palm Bay has experienced steady growth and modernization. 

Want to see how life is like for Palm Bay residents? Watch this and share with your clients: 

Clients will trust you more if you are knowledgeable about the locations where they want to buy property. Being trustworthy and well-informed are some traits that you should have to succeed in your profession. To know more about how to become a successful mortgage broker, check out this guide. 

10. Lakeland 

• Average home value: $313,108 
• Median household income: $60,947 
• Mean travel time to work: 23.5 minutes 
• Cost of living score: 91.6 

Lastly, we have Lakeland. Its cost-of-living score is 8.4% less than the national average and 11.2% below Florida’s state average. It is a city in Polk County, located between Tampa and Orlando. Founded in 1885 by Abraham Munn, it was named for its many lakes—with 38 named lakes within the city limits. 

On average, residents can reach their workplaces in less than 30 minutes. As for its economy, Lakeland relies on industries such as: 

• phosphate mining 
• cattle breeding 
• citrus farming 
• tourism 

Check out this walking tour of Lakeland: 

For the average home values, we use information gathered from Zillow. The cost of living scores are from BestPlaces. As for the median household income and mean travel time to work, we used the US Census Bureau’s QuickFacts.  

Where's the cheapest and safest place to live in Florida? 

While the cheapest on our list is the city of Palatka, it is not exactly the safest. Marco Island is the safest place to live in Florida. It boasts a low crime rate of just 4.97 despite having a population of 18,124. 

However, buying a home to live in this city isn’t cheap. The median list price for property here is a whopping $1,082,667. Its cost-of-living score is 113. This is 13% more than the national average and 9.6% higher than the Sunshine State. 

Real estate investing in Florida’s cheapest cities 

Real estate investing in Florida’s least expensive cities can be a lucrative venture. Your clients may choose to invest in property instead of buying a home for residential purposes. The low property prices and local features make these areas a smart choice for investment. 

Your clients’ return on investment (ROI) could be quick if they make the right decisions and formulate effective property investing strategies. For example, renting out their property in these cities might be a secondary source of income. Those who are looking for places to rent are attracted to locations with easy travel options. 

It is also likely that tourists will visit these places for their beautiful views and outdoor fun. With both residents and visitors interested, investing here can give your clients additional funds to help with other expenses. They might also be able to expand their portfolio. 

Overall, prioritize helping your clients find locations that offer a modest initial deposit and manageable monthly mortgage payments. This will make owning or investing in a home a realistic goal.  

Would you recommend any of these cheapest cities in Florida to your clients? Why or why not? Tell us in the comments below.