9 Cities in Florida Where Renting Is Now More Expensive Than Owning

Nicole Spector

Sat, Jun 7, 2025, 5:02 AM 3 min read

Florida, with its balmy weather, expansive beaches and laid-back communities, continues to attract new residents every year. In the fourth quarter of 2024, closed sales of existing single-family homes totaled 56,496, up 1.1% compared to the previous-year figure, according to Florida Realtors. Still, home prices in Florida are, overall, cooling. The average Florida home value is $389,400, down 3.2% over the past year. Does this mean now is the time to buy your Florida dream home?

Find Out: Renting vs. Owning a Home: Which Will Be Cheaper in 2025?

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You’ll need a lot of research and personal financial guidance to answer that question. One big thing you’ll want to consider is how much rents average in your desired city. How do they compare to average monthly mortgage costs in the area? To help show where renting is much costlier, GOBankingRates analyzed the average cost of rent and mortgages in different cities. These are the nine spots in Florida where rents currently cost more than mortgages.

• Average value of single-family home: $290,046

• Average monthly mortgage cost: $1,517

• Average monthly rent: $2,067

• How much more rent costs than mortgage, annually: $6,599

Check Out: 3 Best Florida Cities To Buy Property in the Next 5 Years, According To Real Estate Agents

• Average value of single-family home: $233,845

• Average monthly mortgage cost: $1,223

• Average monthly rent: $1,791

• How much more rent costs than mortgage, annually: $6,812

• Average value of single-family home: $394,070

• Average monthly mortgage cost: $2,062

• Average monthly rent: $2,633

• How much more rent costs than mortgage, annually: $6,852

• Average value of single-family home: $300,252

• Average monthly mortgage cost: $1,571

• Average monthly rent: $2,210

• How much more rent costs than mortgage, annually: $7,668

• Average value of single-family home: $368,694

• Average monthly mortgage cost: $1,929

• Average monthly rent: $2,629

• How much more rent costs than mortgage, annually: $8,404

• Average value of single-family home: $381,289

• Average monthly mortgage cost: $1,995

• Average monthly rent: $2,717

• How much more rent costs than mortgage, annually: $8,662

• Average value of single-family home: $298,288

• Average monthly mortgage cost: $1,560

• Average monthly rent: $2,290

• How much more rent costs than mortgage, annually: $8,754

• Average value of single-family home: $325,771

• Average monthly mortgage cost: $1,704

• Average monthly rent: $2,569

• How much more rent costs than mortgage, annually: $10,380