A new WalletHub analysis of 300 U.S. cities found no Florida city in the top 10 most affordable places to buy a home. The report, released May 19, 2026, evaluated factors like home prices, taxes, and vacancy rates. Florida’s best-ranked city, Palm Bay, placed 13th overall. "Home prices have surged in recent years, with the median sales price rising from $313,000 in 2019 to $403,200 in 2026," the report states. "While prices may be beginning to ease in some parts of the country this year, interest rates have climbed sharply." The average 30-year fixed mortgage rate increased from 2.65% in January 2021 to 6.37% in May 2026, according to the analysis.
WalletHub used 10 metrics to rank cities, including purchase and maintenance costs, tax rates, and vacancy rates. The top 10 most affordable cities were all outside Florida, with Flint, Michigan, and Detroit, Michigan, leading the list. Florida’s highest-ranked cities included Lakeland (33rd), Cape Coral (45th), and Jacksonville (77th). Palm Bay, a city in Brevard County, was the only Florida city to break into the top 20. Small cities in Florida performed better than larger ones, with Cape Coral and Lakeland placing higher than major metropolitan areas like Jacksonville and Clearwater (79th).
The report highlights challenges for Florida homebuyers, particularly in large cities where prices and rates remain high. "Interest rates have climbed sharply this year," WalletHub noted, adding that affordability is worsening for many buyers. In Brevard County, Palm Bay’s ranking suggests small-city affordability may offer some relief. However, the median home price in Florida is now over $400,000, making it difficult for first-time buyers even in lower-ranked cities. WalletHub’s findings come as Florida’s population continues to grow, putting pressure on housing markets statewide.
The analysis underscores a broader trend: while some parts of the country are seeing price declines, Florida’s market remains stubbornly high. For buyers in Brevard and other counties, the report suggests focusing on smaller cities or negotiating aggressively in larger ones. "The data is clear," said a local real estate agent. "Affordability is a struggle here, but there are still options if you’re willing to look."