Select your role and state, we'll take you to the right portal.
Market Update, Florida
Median price at $383,897, average rent at $2,349, and mortgage rates at 7.40 percent. Here is what the latest Florida housing market data means if you own a rental.
The Florida housing market has stopped moving in the direction anyone predicted. Statewide prices are not falling and they are not rising either: Redfin's September median came in 0.027 percent below September 2025, which is as close to flat as a market gets. Two things did change this month, and both of them land on owners rather than on buyers. Mortgage rates jumped to 7.40 percent, and Florida property insurance, for the first time in years, started coming down.
The short version: Florida home prices are flat year over year, single family inventory is down 9.8 percent, closed sales fell 3.5 percent, the average rent in Florida is down $50 over twelve months, and the 30-year fixed rate at 7.40 percent has added about $231 a month to the payment on a median priced home compared with a year ago. Insurance is the one line item moving in owners' favor.
The three headline numbers are in the boxes above. Below are the remaining metrics. Redfin and Florida Realtors publish different medians because they measure different things, Redfin covering all home types and Florida Realtors reporting single family existing homes, so each figure is labeled with its source and the two are never combined.
| Metric | Latest reading | Change |
|---|---|---|
| Homes for sale (Redfin) | 209,206 (September 2026) | Down 5.7 percent year over year |
| Homes sold (Redfin) | 29,981 (September 2026) | Down 1.2 percent year over year |
| Homes sold above list price (Redfin) | 10.8 percent (September 2026) | Up 1.3 points year over year |
| Homes with price drops (Redfin) | 21.1 percent (September 2026) | Down 0.81 points year over year |
| Sale-to-list price (Redfin) | 96.6 percent (September 2026) | Up 0.4 points year over year |
| Median sale price, single family existing homes (Florida Realtors) | $415,000 (September 2026) | Up 1.2 percent from $410,000 in September 2025 |
| Median sale price, condo and townhouse (Florida Realtors) | $293,500 (September 2026) | Down 1.8 percent year over year |
| Median time to contract, single family (Florida Realtors) | 47 days (September 2026) | Down from 53 days a year ago |
| Months supply of inventory, single family (Florida Realtors) | 4.4 months (September 2026) | Down 13.7 percent from 5.1 months |
| Months supply of inventory, condo and townhouse (Florida Realtors) | 7.7 months (September 2026) | Nearly double the single family figure |
| Average rent versus national average (Zillow) | 17 percent above the $2,000 national average | Sept 30, 2026 reading |
| 30-year fixed mortgage rate (Freddie Mac) | 7.40 percent (Oct 15, 2026) | Unchanged on the week, up from 6.27 percent a year ago |
Redfin put the Florida median home price at $383,897 in September 2026, down 0.027 percent from September 2025 across all home types. That is a statewide median that has effectively not moved in a year. Homes took a median of 75 days to sell, one day faster than a year earlier, and 29,981 homes changed hands, down 1.2 percent.
Florida Realtors, measuring single family existing homes only, reported a September 2026 statewide median of $415,000, up 1.2 percent from $410,000 in September 2025. On the association's numbers, closed sales fell 3.5 percent to 20,537, median time to contract improved to 47 days from 53, and sellers received a median 95.7 percent of the original list price, up from 94.7 percent. The two data sets are not interchangeable. The gap between them is mostly condos: the Florida Realtors condo and townhouse median was $293,500 in September, down 1.8 percent, and condos sit on a 7.7 month supply against 4.4 months for single family homes. That is the clearest split in the state right now.
Florida Realtors Chief Economist Dr. Brad O'Connor named the cause directly in the October 16, 2026 release: "Higher mortgage rates are weighing on sales, particularly in the single-family market, but inventory and prices remain relatively stable, and the upper end of the market continues to perform quite well." September was the second straight month of declining year-over-year sales. Supply is tightening at the same time: single family active listings fell 9.8 percent to 95,799 and months of supply dropped 13.7 percent to 4.4. Redfin's wider all-home-types count also fell, down 5.7 percent to 209,206. Sellers who cannot get their number are not listing, and that is what is holding the median flat rather than letting it slide.
Redfin city stat cards, all three months ending September 2026. Arrow shows change year over year.
Rent: Zillow, Sept 30, 2026. Owning: principal and interest on the $383,897 Redfin median at 20 percent down, 30 years, at 7.40 percent (Freddie Mac, Oct 15, 2026) and at the 6.27 percent rate of a year earlier. Property taxes, insurance and any HOA or condo dues are excluded, and in Florida those three items are unusually large.
Zillow put the average rent in Florida at $2,349 as of September 30, 2026, up $19 over the month and down $50 over the year. Florida still sits about 17 percent above the $2,000 national average. Zillow counted 105,479 available rentals statewide and rated the Florida rental market temperature as warm, an upgrade from the cool reading it carried through the summer, which means renter demand is now growing faster than it was relative to the national average.
The useful reading is that rent has stopped falling. The twelve month change is still negative at $50, but the month over month number turned positive for the first time this year, and six of the seven monthly readings since April have been within $45 of each other. Pricing power has not returned to owners, but it has stopped draining away.
All six figures below are Zillow Rental Manager averages for all bedrooms and all property types, each read on the date shown. Our own office city, Margate, is not in this table: Zillow's Margate page was last updated September 24, 2025, thirteen months stale, and we will not print a year old number as if it were current. Fort Lauderdale is the closest fresh Broward County reading.
| Market | Average rent | Year over year | Read on |
|---|---|---|---|
| Miami | $3,100 | No change | Oct 15, 2026 |
| Fort Lauderdale | $2,602 | Down $98 | Oct 14, 2026 |
| Tampa | $1,995 | Down $75 | Oct 8, 2026 |
| Cape Coral | $1,967 | Down $33 | Sept 30, 2026 |
| Orlando | $1,888 | Down $97 | Oct 18, 2026 |
| Jacksonville | $1,609 | Up $4 | Oct 17, 2026 |
Miami at $3,100 is now flat year over year after a run of declines, and Jacksonville at $1,609 is the only market on the list that is up, by $4. Orlando and Fort Lauderdale are still the two softest, down $97 and $98 respectively. A statewide average that spans $3,100 and $1,609 is not a pricing plan for any individual property, which is the reason the submarket number matters more than the state number.
Florida is three or four different markets wearing one name. The Miami housing market is the most expensive and by far the slowest to transact: Redfin recorded a median of $649,691 for the three months ending September 2026, up 4.8 percent, with homes taking a median of 113 days to sell, seven days longer than a year earlier. Redfin scores Miami 9 out of 100 on competitiveness. Miami is also the state's rent leader at $3,100, which is what keeps yields workable at that price.
The Tampa housing market posted the strongest annual price gain of the three at 4.9 percent, to a median of $449,786, but the pace has turned: homes there now sell in a median of 60 days against 45 days a year ago, a fifteen day deterioration and the largest of the three metros. Tampa rent is $1,995, down $75 over twelve months. Rising prices and slowing sales in the same metro is the pattern to watch here.
The Orlando housing market is the only one of the three where the median sale price fell year over year, down 2.5 percent to $405,033, with days on market up nine to 61. Orlando was still the third most searched destination in the country among relocating homebuyers between April and June 2026 on Redfin's migration data, behind Las Vegas and Sarasota, so the demand side is not the problem. North of there, Jacksonville is the affordability outlet at $1,609 average rent.
Our Florida office sits in Margate, in the middle of Broward County, between Fort Lauderdale and Coral Springs. Fort Lauderdale rent is $2,602 as of October 14, 2026, down $98 over twelve months, which puts the Broward core about 11 percent above the statewide average and roughly $500 below Miami. Redfin scores Fort Lauderdale 12 out of 100 on competitiveness, with the average home selling about 5 percent below list and going pending in around 106 days. We have not quoted a Fort Lauderdale sale median here because Redfin's Fort Lauderdale card currently reports a three month window ending June 2026 rather than September, and mixing reference months inside one comparison produces a number that looks precise and is not. Owners in Coral Springs, Margate, Coconut Creek and Tamarac should read the Fort Lauderdale rent trend as their ceiling and price below it, because inland Broward does not carry the coastal premium.
This is the section that decides whether a Florida rental works, and this month it finally contains good news. The Florida Office of Insurance Regulation lists an average homeowners premium of $3,736 including wind coverage in the admitted market, which excludes Citizens and surplus lines carriers. On September 22, 2026 the regulator approved rate reductions ranging from 3.2 percent to 10.4 percent across four carriers covering more than 62,000 policies, and OIR reports that since January 2024, 48 companies have filed for rate decreases and 53 have requested no change. Citing an S&P Global report, OIR notes Florida was the only state with a homeowners insurance rate decrease in 2025, down 0.92 percent against a national weighted average increase of 5.5 percent. Insurance Commissioner Mike Yaworsky said he expects "to see more aggressive rate cuts in the near future and going into 2027."
Put that $3,736 next to the mortgage math and the Florida story becomes clear. Principal and interest on the median priced home is $2,126 a month. Average insurance alone is $311 a month on top of it, before property taxes and before any condo or HOA assessment. That single line item is larger than the $223 gap between rent and principal and interest, which is why owning is not actually cheaper than renting in Florida even though the two bars in the chart above say it is.
Condo owners carry the heavier version of this. The condo and townhouse median fell 1.8 percent to $293,500 in September while sitting on 7.7 months of supply, roughly double the single family figure, and the structural integrity reserve funding requirements that took effect for Florida associations are still working through building budgets as special assessments. A condo that prices like a bargain against the single family median usually has a reason.
On the weather, the 2026 season did reach Florida. Hurricane Isaias came ashore near Destin as a Category 2 storm with 105 mph winds on the night of October 9, 2026, the first hurricane of the Atlantic season, with damage concentrated in the Panhandle rather than in the Broward, Miami-Dade, Tampa or Orlando markets. Owners in the Panhandle should document and file now; owners elsewhere should still reprice coverage at renewal rather than assume a quiet season means a cheaper policy.
Freddie Mac reported the 30-year fixed mortgage rate at 7.40 percent on October 15, 2026, unchanged from the previous week and well above the 6.27 percent of a year earlier. The rate was 7.28 percent on October 1 and 7.03 percent on September 24, so the move happened fast.
What that costs in practice: principal and interest on the $383,897 Redfin median with 20 percent down is $2,126 a month at 7.40 percent. The same loan at last year's 6.27 percent would be $1,895. A Florida buyer is paying $231 a month more than a year ago for an identical house at an identical price, which is precisely why closed sales have now fallen year over year for two straight months while the median price has not budged.
For owners of rental property the consequence is straightforward. Every household that cannot clear a $2,126 payment plus $311 of insurance plus taxes stays in the rental pool for another year. That is what has held Florida occupancy steady through a year in which headline rents fell $50, and it is why the rent number stopped falling in September.
Get a free, no obligation rental analysis from a local Intempus expert, priced against current comps in your neighborhood.
Get Your Free Rental Analysis →No. Redfin reported a Florida median home price of $383,897 in September 2026, down 0.027 percent year over year, which is flat rather than falling. Homes for sale fell 5.7 percent and homes sold fell 1.2 percent. Florida Realtors separately reported a single family median of $415,000, up 1.2 percent, with months of supply down to 4.4 from 5.1. Sales have slowed under a 7.40 percent mortgage rate, but prices are holding and inventory is tightening, which is not what a crash looks like.
There are two credible answers because there are two data sets. Redfin reported a Florida median sale price of $383,897 for September 2026 across all home types, essentially unchanged from a year earlier. Florida Realtors reported a statewide median of $415,000 for single family existing homes in the same month, up 1.2 percent from $410,000 in September 2025. The gap is mostly condos: the Florida Realtors condo and townhouse median was $293,500, down 1.8 percent, and condos pull the all-home-types median down.
Zillow put the average rent in Florida at $2,349 as of September 30, 2026, up $19 over the month and down $50 over the year. That is about 17 percent above the national average of $2,000. Across the state the range runs from $1,609 in Jacksonville and $1,888 in Orlando up to $2,602 in Fort Lauderdale and $3,100 in Miami.
The published sources point in two directions and neither is a prediction we invented. Florida Realtors Chief Economist Dr. Brad O'Connor said on October 16, 2026 that higher mortgage rates are weighing on sales, particularly single family, while inventory and prices remain relatively stable and the upper end continues to perform well. On insurance, Florida Insurance Commissioner Mike Yaworsky said on September 22, 2026 that he expects more aggressive rate cuts in the near future and going into 2027. Taken together the sources describe slower sales with stable prices and falling insurance costs, not a price correction.
Hurting, and measurably. Freddie Mac reported the 30-year fixed rate at 7.40 percent on October 15, 2026, unchanged on the week and up from 6.27 percent a year earlier. Principal and interest on the $383,897 Redfin median with 20 percent down is $2,126 a month at 7.40 percent against $1,895 at last year's rate, so the same house costs $231 more a month. In Florida the mortgage is also not the whole problem, because the state's average homeowners premium of $3,736 adds about $311 a month before property taxes or any condo assessment.
For many owners, yes. Single family inventory is down 9.8 percent and months of supply down to 4.4, so a well presented rental faces less competition than the listing headlines suggest. Statewide rent rose $19 month over month in September after a year of declines, and every household priced out by the 7.40 percent mortgage rate stays in the rental pool. A free rental analysis will show what your specific home can earn today.
Sources: Redfin, Florida housing market, September 2026; Redfin city pages for Miami, Tampa and Orlando, all three month windows ending September 2026, read October 20, 2026; Florida Realtors, Monthly Market Summary for single family homes, September 2026 and the Florida Realtors release of October 16, 2026; Zillow Rental Manager, Florida rental market trends, last updated September 30, 2026, plus Zillow city pages for Miami, Fort Lauderdale, Tampa, Cape Coral, Orlando and Jacksonville read October 20, 2026; Freddie Mac Primary Mortgage Market Survey, October 15, 2026; Florida Office of Insurance Regulation rate decisions and market overview as reported by Florida Realtors, September 24, 2026; Hurricane Isaias landfall as reported by WLOX, October 10, 2026. Redfin covers all home types and Florida Realtors covers single family existing homes, so the two medians are reported separately throughout and never combined. Figures are the most recent published readings at the time of writing and are provided for general information, not investment advice.
We use third party cookies that help us analyse how this website is used, remember your preferences, and show content that is relevant to you. You can opt out by checking "Do Not Share My Personal Information" and clicking "Save My Preferences". You can opt back in at any time by unchecking the box and saving again.
See the exact 10-step process we use to screen every applicant, the qualification standards we hold, and how it protects your long-term returns.
Enter your email and we will send it over right away.