Looking for an affordable Florida house? How to make it happen.

If you’re on the market for a new home right now, we understand if you’re struggling while flipping through your hundredth Zillow listing or heading out to your dozens of open houses. And if you’re looking for an affordable Florida house? You might be wondering if there’s any hope at all.

It’s a tough market, to be sure. But at Garber Communities, we’ve been in the real estate business for decades, and we’ve seen a lot of sales. We’re here to reassure you that there is affordable Florida real estate out there.

Here are some facts and figures that prove it’s possible—and how you can make it happen.

Single family home prices in Florida

Let’s start with the basics. Prices for single family homes in Florida are probably higher right now than you remember. While that’s the case all over the state, location certainly matters. You’re going to see higher pricing in in-demand cities, but there are still many hidden gems with more reasonable home prices.

Here are a few selections.

• Average single-family home in Florida: $405,000
• Average single-family home in Orlando: $380,000
• Average single-family home in DeLand: $335,000

There are so many wonderful smaller towns that still provide access to metropolitan areas and have their own charm. Finding the right location can help in the search for affordability.

Interest rates for homeowners

Interest rates is a phrase you’ve definitely heard thrown around if you’re searching for a new home. They’re higher now, especially when compared to the lows that hit during the pandemic.

The average interest rate for a single-family home right now is 7 percent. For manufactured homes with lots rent, we’re seeing an average of 8.25 percent.

Rental prices in Florida

Deciding whether to rent or buy is a huge decision. Right now, however, renters aren’t necessarily better off. Rental rates are rising, and there’s an affordable home crisis in many cities.

In Orlando, for instance, the median mortgage is $2,700, with average rent not far behind at $2,200.

Putting it together

What does it all mean? Let’s look at an example.

Typically, manufactured homes are more affordable than single-family homes, even when the manufactured home is brand new. That typically means buyers can put a larger percentage down—even 20 percent.

With a mobile home that is about $200,000, the average monthly mortgage before lot rent is $1,200 a month with about 20 percent down. Even when you include lot rent (which at Garber Communities averages about $600/month), the monthly total is $1,800. At Garber, that amount includes property taxes and HOA fees. At some of our communities, it also includes lawn care and some utilities.

While interest rates are slightly higher on the manufactured vs. single-family home, the mortgage price is significantly less. Compared to renting, buying a manufactured home is likely still more affordable—and you are paying into something you actually own.

If you’re looking for an affordable house in Florida, you might consider a manufactured home. These days, manufactured homes are built differently, with modern finishes and top-of-the-line appliances. Many are located in sought-after communities with well-maintained amenities and manicured shared spaces, perfect for making connections with neighbors.

At Garber Communities, we offer manufactured homes—including brand-new homes—in a variety of communities around the state. Want to learn more? Give us a call at 407-949-8629. We’d be happy to discuss your options.

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