Florida’s median home price in October 2023 was $405,000. The market is experiencing rising inventory, with a 27.7% increase year-over-year. Average days on market increased to 51 days. Popular areas include Tampa, Orlando, and Miami. Property taxes average around 0.97% of assessed value. Flood insurance is crucial in many areas, particularly coastal regions. The state has no state income tax, potentially attracting buyers. Common closing costs range from 2% to 5% of the purchase price. Understanding HOA rules and regulations is vital for many communities.