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Most affordable place to live in Florida? Two Treasure Coast areas ranked first and second

NewsMost affordable place to live in Florida? Two Treasure Coast areas ranked first and second

If you want to live in the most affordable cities in Florida, you do not have to go too far.

Indiantown was ranked first among the most affordable places in Florida in 2022, moving up from eighth place in 2020, according to a study by Smspanrt Asset, a nationwide financial technology company. It ranked 107 in the U.S.

An area of Indian River County, which the study calls the “west Vero corridor,” ranked second in Florida and 115 in the nation.

The study analyzed closing costs, property taxes, homeowners insurance, mortgage rates as well as the median income. These are the annual averages for Indiantown and the west Vero corridor:

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The American housing market is in uncharted territory. In the face of surging demand and supply constraints, home values have skyrocketed recently, up 13.5% over the past year, and up 26.5% from the beginning of the pandemic. According to Realto  r.com, a   homesale platform and database, the national median listing price stands at $405,000, the highest ever.    Of course, in addition to supply and demand forces, three of the most important factors that drive home values are location, location, location. Indeed, life in some parts of the country is so desirable, that most homes on the market are listed for millions of dollars.     Using data from Realtor.com's report,    Wonder How High Home Prices Can Go? Here Are America's Most Expensive ZIP Codes in 2022   , 24/7 Wall St. identified the 10 most expensive ZIP codes for homebuyers in the United States. It is important to note that this list is not comprehensive, and only one ZIP code per state was selected to ensure geographic diversity. List prices are as of March 2022, and each ZIP code had to have at least 15 active listings. Population data came from the Census Bureau's American Community Survey and are five-year estimates as of 2020.    Among the ZIP codes on this list, the median list price for homes on the market ranges from $4 million to $15 million. These places fall into one of two categories, the first of which is small communities located just outside of major cities. Greenwich, Connecticut, for example, where most homes are selling for at least $5 million, is within commuting distance of New York City (   Here is a look at the town with the shortest commute in every state   ).     The other category that some of the places on this list fall into is resort communities - where residents have access to nice beaches, ski resorts, or golf courses.    Here is a look at America's 50 best cities to live   .

Indiantown housing

  • $4,250: Mortgage payment
  • $667: Property tax
  • $717: Homeowners insurance
  • $3,020: Closing cost
  • $43,406: Median income

West Vero Corridor

  • $4,754: Mortgage payment
  • $952: Property tax
  • $802: Homeowners insurance
  • $2,210: Closing cost
  • $48,083: Median income

The study did not give data on other Treasure Coast cities, but here’s how it ranked each county among other U.S. counties for affordability:

  • Indian River: 2,785
  • St. Lucie: 2,831
  • Martin: 2,983

The annual average mortgage payment in each county was:

  • St. Lucie: $11,367
  • Indian River: $11,963
  • Martin: $15,883

The other areas of Florida in the study’s Top 10 list were:

  • 3: Brent
  • 4: Combee Settlement
  • 5: Belleview
  • 6: Homosassa Springs
  • 7: Milton
  • 8: West Pensacola
  • 9: East Milton
  • 10: Brooksville

In the U.S., Tuba City, Arizona, was ranked the most affordable place to live.


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