November 28, 2023

Florida Homes: What Will $200,000 Buy?

Florida Staff | 9/1/2003
By Cynthia Barnett, Amy Welch Brill, John Finotti, Joan Hughes, Mike Vogel

Either way, $200,000 won't get you what it could five years ago. Median home prices have risen 50% since 1998.

Consider this: The $100,000 home you bought in 1998 is now worth $150,000. A $200,000 home is now worth $300,000. According to the Florida Association of Realtors, the median price of a resale home in Florida has jumped more than 51% over the past five years, from $97,500 to $151,200.

Those big gains aren't slowing down home sales either. Lawrence Yun, senior forecast economist for the National Association of Realtors, says existing-home sales will rise about 3% through this year, while existing-home prices will climb by about 6%.

And demand for Florida homes is fueling new construction, as well. Florida registered the second-largest gain in housing units in the year ended July 1, 2002.

So with prices rising robustly and demand still healthy, exactly how much home can you buy in various parts of Florida for $200,000? Florida Trend canvassed the state. We checked both rural and urban markets from Pensacola in the Panhandle to Key West. On the following pages, you'll find out, for instance, that while $200,000 can get you a 3,000-sq.-ft., two-story home in Taylor County overlooking a river, that same amount will buy you only a 513-sq.-ft. studio condo in Key West.


Broward / Palm Beach

West Palm Beach
Old Northwood Historic District near downtown West Palm Beach
Square Feet: 1,643
Bedrooms/Baths: 1 / 1
Age: 50
Selling Price: $195,000

The house has a carport and a detached one-bedroom, one-bath rental cottage with a one-car garage.

Fort Lauderdale
3 miles from downtown
Square Feet: 1,505
Bedrooms/Baths: 3 / 2
Age: 26
Selling Price: $195,000

This home, southwest of downtown Fort Lauderdale, is close to I-95, 595 and U.S. 441. While the kitchen and baths had been updated, the house had neither a garage nor carport.

West Palm Beach
3 miles from downtown
Square Feet: 1,200
Bedrooms/Baths: 2 / 2
Age: 25
Selling Price: $199,500

The condo, in a building that overlooks the Intracoastal, ocean and city, comes with two parking spaces and is on North Flagler Drive.

Square Feet: 1,246
Bedrooms/Baths: 3 / 2
Age: 6
Selling Price: $190,000

This home in the Silver Lakes development in southwest Broward County sold in two hours, says Stanley Rosen of Keyes Co. It has a one-car garage.

Miami-Dade / Monroe

Key West
Square Feet: 513
Bedrooms/Baths: Studio
Age: 75
Selling Price: $199,900

A studio condo, with bath and kitchen, on the second floor of an apartment building being converted into six condos. The 1928-era building is a few blocks from Old Town. The cheapest single-family detached home on the market in July was listed at $365,000.

Miami Beach: The $200,000 single-family home is a thing of the past. -- Norbert Machado, managing broker of Esslinger Wooten Maxwell, Miami Beach

Miami Beach
Square Feet: 1,050
Bedrooms/Baths: 2 / 1 1/2
Age: 37
Selling Price: $203,000

The Bay House condo is on the bay a half-block from Lincoln Road and has a pool, a balcony and wood floors. No single-family homes have sold in Miami Beach for under $200,000 in the last 15 months, says Norbert Machado, managing broker of Esslinger Wooten Maxwell's Miami Beach office.

Miami Beach
Square Feet: 641
Bedrooms/Baths: 1 / 1 1/2
Age: 22
Selling Price: $199,900

This seventh-floor condo unit is in an oceanfront building built in 1981. Donna Bloom of Coldwell Banker says $200,000 won't buy a single-family detached home on Miami Beach. As for condos at that price, "there's not really much at all."

Treasure Coast

Hutchinson Island
east of Stuart
Square Feet: 1,186
Bedrooms/Baths: 2 / 2
Age: 28
Selling Price: $205,000

Furnishings were included with this oceanfront condo. The building has a pool, tennis courts and gated security.

Port St. Lucie
Square Feet: 1,990
Bedrooms/Baths: 3 / 2
Age: 13
Selling Price: $200,000

The home comes with a 28-by-14 pool and is in a moderate, upscale neighborhood in St. Lucie West with lots of golf in the area.

Southwest / Tampa Bay

Ft. Myers / Naples

South Fort Myers
Ten Mile Canal neighborhood
Square Feet: 1,249
Bedrooms/Baths: 2 / 2
Age: 32
Selling Price: $200,000

This home, on a canal, is the cheapest waterfront property in the area, just a mile from Terraverde Country Club, a new golf course development.

Naples: "You can't find an empty lot on the coast in Naples for under $500,000." -- Michael A. Manuri, Naples Realty

Sabal Lake community
Square Feet: 1,749
Bedrooms/Baths: 4 / 3
Age: 4
Selling Price: $207,500

The house is in a master-planned community about six miles from downtown Naples. The home has a lake view and access to a community pool.

Tampa / St. Pete / Clearwater

St. Petersburg
Old Northeast
Square Feet: 1,210
Bedrooms/Baths: 3 / 2
Age: 78
Selling Price: $205,000

On the fringe of the popular and trendy Old Northeast neighborhood, just two miles from downtown, the home has hardwood and ceramic tile flooring and a fireplace.

South Tampa
Palma Ceia
Square Feet: 1,195
Bedrooms/Baths: 2 / 1
Age: 61
Selling Price: $200,000

Palma Ceia, five miles from downtown and just blocks from Hyde Park's trendy cafes and upscale shopping, is a Tampa hot spot. The home sold in 1988 for $49,500.

Pasco County
Trinity community
Square Feet: 2,194
Bedrooms/Baths: 4 / 2
Age: 4
Selling Price: $200,000

Located on the Pasco/Pinellas county line just a mile north of Palm Harbor, the house has a garden bath, walk-in closets and an oversized two-car garage.

Clearwater, Island Estates
Square Feet: 1,215
Bedrooms/Baths: 2 / 2
Age: 15
Selling Price: $239,000

It's tough to get anything on Clearwater Beach for anything below the high $300,000s. This older condo is the closest thing on the market for $200,000 with a view -- of the Intracoastal. The unit has been updated.

Clearwater Beach: "Honey, there isn't anything!" -- Elizabeth Seither, Executive Inc. Homes, when asked what was available on Clearwater Beach for $200,000.

Sarasota / Bradenton

Lakewood Ranch
Square Feet: 1,625
Bedrooms/Baths: 3 / 2
Age: 9
Selling Price: $200,000

Lakewood Ranch is a 7,000-acre master-planned community on the Manatee/Sarasota county line. The home has a pool, hot tub, walk-in closets and a two-car garage.

Nottingham neighborhood
Square Feet: 1,720
Bedrooms/Baths: 3 / 2
Age: 13
Selling Price: $199,000

Just two miles from trendy neighborhoods west of the Tamiami Trail that boast views of the bay and downtown, this ranch home has a pool and dual walk-in closets. It's a few blocks from Fruitville Road, a major thoroughfare connecting downtown with Interstate 75.



Southwest Orlando
Dr. Phillips area
Square Feet: 1,948
Bedrooms/Baths: 4 / 2
Age: 19 years
Selling Price: $199,000

The Dr. Phillips neighborhood remains popular for its solid feel: Older neighborhoods are known for suburban-style homes with large lots and mature landscaping. This home in the Sand Lake Hills subdivision is a 30- to 40-minute commute to downtown Orlando during rush hour.

Downtown Orlando
Lake Eola neighborhood
Square Feet: 1,000
Bedrooms/Baths: 2 / 1
Age: 49
Selling Price: $215,000

This cottage three blocks from Lake Eola in Orlando's downtown sold for $98,000 in 1990. The revitalization of downtown has more than doubled the price of this non-restored historic property.

Thornton Park neighborhood
Square Feet: 1,680
Bedrooms/Baths: 2 / 2 1 2
Age: 30
Selling Price: $202,000

The three-story town home's previous sale price of $90,000 in 1995 (with only one real improvement since) shows how things have changed in Thornton Park, just a mile or two from downtown Orlando. The neighborhood was once an area where people wouldn't walk after dark.

Lake Mary: "Most folks form their original impressions of Orlando from visits to Disney. They are surprised to know that we have older areas with oak-shaded brick streets and so many beautiful lakes, rivers and natural springs." -- Broker Doug Packard, Buyer's Realty Group, Seminole County

Osceola / Seminole

Osceola County
Square Feet: 2,226
Bedrooms/Baths: 3 / 3
Age: 5
Selling Price: $197,000

This three-car garage, golf course home is within walking distance of grocery stores and other amenities. It is a 30-minute drive to downtown Orlando and the airport. The house has a large screened-in-patio. "For $200,000, you can get a brand-new house that's at least 2,000 square feet, with a pool," says Realtor Cyn Ewald Zellner of Goodwin Realty of Kissimmee.

Lake Mary
Seminole County
Square Feet: 2,173
Bedrooms/Baths: 4 / 2 1/2
Age: 12
Selling Price: $204,900

Some of the best schools in the nation (as recently ranked by Newsweek) and a half-hour commute to Orlando make Seminole County among the hottest bedroom communities in Florida. This home has a screened-in, lagoon-style pool with a stone waterfall.

Space Coast

Cape Canaveral
Square Feet: 1,799
Bedrooms/Baths: 3 / 2 1/2
Age: 17
Selling Price: $194,000

This townhouse, just one block from the beach, features a living room that opens into a private garden, as well as a fireplace, custom tile counters and a large screened-in porch with an ocean view. "We're still affordable here," says Jean Starkey, owner of ERA Aladdin Real Estate of Brevard County. "You can have a beautiful view of the ocean for less than $200,000."



Green Cove Springs
Square Feet: 1,814
Bedrooms/Baths: 3 / 2
Age: 3
Selling Price: $199,750

Contemporary, single-story home located in gated Magnolia Point Golf & Country Club. The Clay County home is about 22 miles from downtown Jacksonville. It has a screened porch overlooking a lagoon and golf course.

Square Feet: 2,108
Bedrooms/Baths: 3 / 2 1/2
Age: 9
Selling Price: $200,000

Off Atlantic Boulevard in Jacksonville's fast-growing -- and increasingly congested -- Southside, this split-level home overlooks a man-made lake and has a two-car garage.

Downtown Jacksonville
Square Feet: 1,442
Bedrooms/Baths: 3 / 1
Age: 80
Selling Price: $199,900

The renovated 1923 bungalow is in Avondale near downtown shops and restaurants. It includes a sun room, formal living and dining rooms and an updated eat-in kitchen with new appliances.

Atlantic Beach
22 miles east of Jacksonville
Square Feet: 1,328
Bedrooms/Baths: 3 / 2
Age: 40
Selling Price: $199,900

A one-story bungalow on main street in one of the Jacksonville area's most sought-after beach communities. A recent renovation includes a new kitchen. The house sold for $81,000 in 1995.

St. Augustine /Palm Coast

St. Augustine
10 blocks from downtown
Square Feet: 1,144
Bedrooms/Baths: 2 / 2
Age: 11 1/2
Selling Price: $195,000

Located in a historically black section of
St. Augustine, Lincolnville is undergoing a rejuvenation, thanks its proximity to downtown and affordable land values. This custom-built, two-story Florida cracker-style home features cypress wood floors, beadboard cabinetry, a metal roof and a 480-sq.-ft. detached garage/workshop.

Palm Coast: The majority of Realtor Gail Downs' Palm Coast buyers are Baby Boomers retiring early.

Palm Coast
Indian Trail subdivision
Square Feet: 2,425
Bedrooms/Baths: 3 / 3
Age: New
Selling Price: $203,000

It's not easy to find a $200,000 sale in Palm Coast. This purchase included $188,500 for the home and $14,500 for the two lots it was built on. The home is 20 minutes from the beach.

Gainesville / Alachua

about 8 miles from downtown
Square Feet: 3,700
Bedrooms/Baths: 4 / 3
Age: 6
Selling Price: $208,750

The split-plan home with nine-foot ceilings sits on 3 1¼ 2 acres with a small pond. Despite the acreage, the house isn't zoned for horses, a disadvantage in Ocala.

Northwest Gainesville
Brookfield subdivision
Square Feet: 2,200
Bedrooms/Baths: 3 / 2
Age: New
Selling Price: $201,000

While environmentally minded Gainesvillians worry about what they see as sprawling growth on the west side, Brookfield is close-in by other Florida-city standards: It's just seven miles, or a 15-minute drive in traffic, to the University of Florida campus.

Gainesville: New subdivisions popping up west of the city are attracting a good mix of families with small children, single professionals and retirees moving to town in part because of its top-notch healthcare facilities. -- Bonnie Cameron, Cameron & Cameron Mortgage


Northwest Coastal

East Panama City Beach
Bay Point subdivision
Square Feet: 2,200
Bedrooms/Baths: 3 / 2
Age: 17
Selling Price: $200,000

This gated community home sits on the 12th fairway of the Meadows golf course. Features include a sunken living room with wood-burning fireplace and wet bar, Jacuzzi tub in the master bedroom and a screened-in porch. Beaches and downtown are only a few minutes away.

East Panama City Beach
Summerwood Community
Square Feet: 2,200
Bedrooms/Baths: 4 / 2 1/2
Age: 2
Selling Price: $200,000

This home, part of the Arvida/St. Joe Co. Summerwood development, includes a hot tub, enclosed patio, heated swimming pool, gas fireplace and cathedral ceilings.

Southeast Pensacola
East Hill area
Square Feet: 1,645
Bedrooms/Baths: 2 / 2
Age: 65
Selling Price: $207,500

Historic East Hill, five minutes from downtown, has become one of the most popular residential areas in Pensacola. On a large corner double lot, the home has hardwood flooring, ceramic tile, a formal dining room, a covered wraparound porch, brick courtyard and pool.

Southwest Pensacola
Chandelle subdivision
Square Feet: 2,200
Bedrooms/Baths: 4 / 2
Age: 4
Selling Price: $200,000

Southwest Pensacola is the fastest-growing area in Escambia County. This contemporary home has an enclosed pool. Chandelle is less than 10 minutes from the pristine beaches of Perdido Key and 20 minutes from historic downtown Pensacola.

Fort Walton Beach
Kenwood area
Square Feet: 2,200
Bedrooms/Baths: 3 / 2 1/2
Age: 18
Selling Price: $198,000

The golf course community home has a stone fireplace, sits on a large lot and has a pool. Close proximity to downtown, malls, Destin's beaches and Eglin and Hurlburt Air Force Bases makes the area attractive.

West Fort Walton Beach
Scottsdale subdivision
Square Feet: 2,376
Bedrooms/Baths: 4 / 2 1/2
Age: 23
Selling Price: $195,000

This home sits on a large corner lot in an older neighborhood minutes from downtown and has been remodeled to include tile and marble flooring. It has a pool, separate workshop, double garage and professional tropical landscaping.

Taylor County: "People call me all the time and say: 'Find me a place where I can't see my neighbor.' A lot of my clients are people who originally bought property in south Florida and planned to retire there, but now that it's time, it's too crowded and they want to get away." -- Karen Barnhill, Mayo's Southern Sky Realty

Northwest Rural

Indian Springs subdivision
Square Feet: 2,733
Bedrooms/Baths: 4 / 2
Age: 17
Selling Price: $194,900

An hour from Tallahassee, rural Marianna offers a bit more bang for the buck. Sitting on a five-acre lot, the home has an additional two-story garage/shop and is minutes from downtown Marianna and area schools.

Taylor County
Square Feet: 3,000
Bedrooms/Baths: 3 / 4
Age: 10
Selling Price: $217,000

This two-unit home has two screened-in porches overlooking the Steinhatchee River. The price included the lot next door, bringing the total land to an acre and a half.


Goose Creek subdivision
Square Feet: 1,968
Bedrooms/Baths: 4 / 2
Age: New
Selling Price: $199,000

It's tough to find a new home under $200,000 inside Capital Circle, the highway that rings the tree-lined inner city. The home sits on a quarter-acre lot and has a two-car garage.

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