The Surprising Florida Cities Where The Most Homes Are Sitting Empty In The Fall of 2023

L. Cane

Generally speaking, home vacancies can be a sign of weaknesses in a real estate market. And in the period between 2017-2022, home vacancies decreased from just above 9% to 7%, while home values rose in many areas.

According to Today's Homeowner, in the spring of 2023, 16 million homes were sitting vacant at that time.

And now it seems that many of the country's vacancies are located in some of Florida's cities, which makes sense because a 2022 Lending Tree study found that almost 1.7 million homes in Florida were sitting vacant at that time.

However, the location of these cities may be surprising to some because an additional study found that the Florida cities with the most vacancies are mostly coastal. Often, Florida locales that have water access are thought to be desirable and hold their value.

Additionally, with the exception of one market, the markets in Florida with the most vacancies aren't among the most expensive real estate markets in Florida.

Determining The Florida Cities With the Most Vacancies: In November of 2023, the financial website Smart Asset released a study outlining the real estate markets throughout the United States with the most vacancies.

To come up with the list, the company analyzed 2022 census data from the nation's 343 largest cities.

There was no Florida city listed in the top 3. Those honors went to New Orleans, Tuscaloosa, and Detroit.

However, Florida made its first appearance at number 4 and continued to make appearances throughout the top 10. Let's have a look:

Pompano Beach #4: This city is located along the coast of the Atlantic Ocean, a little north of Fort Lauderdale. According to Redfin, home prices in Pompano Beach are down about 9% and have settled at around $328,000, which is less than the state average of around $403,000.

Pompano Beach gets a livability score of 70 by AreaVibes, with the best score in commute and housing and the worst score in crime and employment.

Fort Lauderdale #5: If you travel southward down the coast from Pompano Beach, you'll find Fort Lauderdale, where real estate is a bit more pricey. Redfin indicates that home prices in Fort Lauderdale are up around 1% from last year, and the median home price is around $520,000.

Fort Lauderdale gets a livability score of 76, with the highest scores for health and amenities and the lowest scores in crime and cost of living.

Clearwater #6: This city close to Tampa is on Florida's Gulf Coast and is known for its beautiful beaches. Real estate prices here have risen 8% over last year, according to Redfin. The current median home price is around $391,000.

Clearwater has a high livability score of 81, with numerous A ratings and the lowest rating being employment.

Cape Coral #10: Cape Coral is located in southwest Florida and is also on the Gulf of Mexico. It is considered to be one of the fastest-growing cities in Florida. Real estate prices have risen around 13% over the last year and have landed at a very pricey median home price of $961,000.

Cape Coral has a livability score of 77, with high marks for crime, housing, and health and a lower mark for commute.

Other cities that made the list were St. Petersburg, West Palm Beach, and Hollywood.

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