While condominiums are a very popular type of home purchase, single-family housing sales were still double the volume of condo sales in the second quarter of 2021. The sales price of homes in Florida was 290,000 U.S. dollars in 2020, but it varied greatly across different metros: from 127,000 U.S. dollars in Wauchula to 729,000 U.S. dollars in the most expensive metro, Key West. Rental property is also a major part of the Floridian residential property market. As of September 2021, the average monthly rent of a two bedroom apartment in Florida 1,670 U.S. dollars, but North Port-Sarasota-Bradenton and Miami-Fort Lauderdale-Pompano Beach metros were significantly more expensive.
Miami Beach, Florida is one of the most famous and popular beach communities in the United States. A two bedroom house in Miami Beach cost around 703,000 U.S. dollars in 2021. A condominium with the same number of bedrooms cost about 558,000 U.S. dollars. In 2020, the most expensive neighborhood of Miami for luxury residential property was South Miami Beach, where premium properties cost about 2,325 U.S. dollars per square foot. There is a great deal of foreign investment in the Floridian housing market, with buyers from Latin America and the Caribbean accounting for roughly one third of foreign buyer purchases.
