In the early ‘70s, my parents moved to the east coast of Florida, inland from Pompano Beach. They bought a brand new two-bedroom, two-bath condo overlooking the pool for about $20,000. They were in heaven to be away from the New York winters and to live in what they perceived as a “fancy” place.
In those days, Florida offered properties for all retirees in all price ranges to enjoy the sunshine and affordable living. However, things have changed a lot in Florida and it’s not your parents’ Florida anymore.
Those of us who live in Florida don’t have to be told how expenses have gone up in the last several years. Insurance, property taxes and HOA fees have all increased. Nevertheless, buyers are still coming just a little more well-heeded then in previous years. There are Florida counties where the income of people moving in from other states in 2022 surpassed that of existing residents, based on the most recent Internal Revenue Service and Census Bureau data.
Meanwhile, middle-class Florida residents are leaving and looking for a more affordable location. The Carolinas are providing an alternative to Florida, with lower property values and a lower cost of living.
Even mobile home communities, which were always an alternative for low-income retirees, are getting expensive. Most of them are now owned by corporations that may be buying them for investment development down the road.
The real estate developers are focusing their new construction on the high-end market with more upscale offerings. Lakewood Ranch, the master planned community in Bradenton, has properties ranging from townhouses in the $200,000 range to palatial houses listing at more than $3 million. According to Lakewood Ranch data, home sales grew from 2023 to 2025 in two price categories – $1 million-plus and below $300,000 – and decreased in the ranges in between where middle-class retirees would normally buy.
The influx of wealthier buyers is adding pressure to an already difficult housing market. The average home value in Florida was $372,000 in November – a decline from recent years but a significant increase from 2019 when the average was $246,000.
Then there is the ultraluxury market in and around Miami. The insanity of this market is totally unrelated to the average person. According to Miller Samuel, an appraisal and consulting firm, there were four real estate transactions above $100 million in 2025. What would my parents think?
Even the senior living communities in Naples, one of the super high-end housing areas in Florida, are starting at $600,000 and ranging to $9 million. So, if you’re thinking of growing old in a Florida senior care facility, you might have to reassess your plans.
The home pricing betting platforms are also getting very popular. Robinhood and Kalshi are accessible if you’re in the betting mood or just looking for another opinion on buying and selling properties. My opinion is that these platforms can be very dangerous to the average homebuyer who may be getting information based on a national trend and not applicable to their local area.
For sure, my parents would be shocked if they woke up in 2026 and saw the prices on similar two-bedroom, two-bath condos like they bought in 1973. But everything changes, and sometimes it changes too fast. If you’ve lived here for 20 years, you’re sitting pretty, but new retirees to Florida are having sticker shock.
