9 Affordable Places to Live on the Gulf Coast of Florida in 2024

February 13, 2024 by Alison Bentley

Reading Time: 5 minutes

Florida’s Gulf Coast is a picturesque region with a stunning coastline featuring powdery white sand beaches and warm turquoise waters. There are countless beachfront activities to participate in, whether relaxing by the shore, boating, or beachcombing. The region’s charming coastal towns like Naples, Sarasota, and Clearwater offer a blend of laid-back beach vibes, cultural attractions, and outdoor activities such as fishing, boating, and kayaking in the serene Gulf of Mexico.

If you’re looking to move to the area, the median home sale price in Florida is $450,00. If this number doesn’t fit your budget, don’t worry, we’re here to help.

Redfin has put together a list of the 9 most affordable places to live on the Gulf Coast of Florida. And all the cities have a median sale price under $450,000. Let’s jump in and explore these affordable areas.

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1. Panama City

Median home price: $279,900
Average sale price per square foot: $197
Average rent for a 1-bedroom apartment: $1,470
Median household income: $57,221
Panama City, FL homes for sale
Panama City, FL apartments for rent

The first city on our list of affordable places to live on the Gulf Coast of Florida is Panama City. Located in the Florida Panhandle, Panama City is known for its beautiful beaches and vibrant community. The city offers a variety of outdoor activities, including fishing, boating, and water sports. With a median home sale price of $279,900 and a population of about 34,700, Panama City is an affordable and picturesque place to live.

2. Pensacola

Median home price: $295,000
Average sale price per square foot: $193
Average rent for a 1-bedroom apartment: $1,322
Median household income: $67,722
Pensacola, FL homes for sale
Pensacola, FL apartments for rent

Second on our list is Pensacola, located in the western part of the Florida Panhandle. Pensacola is a historic city with a rich cultural heritage as “America’s First Settlement.” The city’s median home sale price is $295,000 and it has a population of 53,900, so you may want to consider living in this affordable place. Pensacola is home to beautiful beaches, a vibrant downtown area, and numerous historic sites, so there’s always something new to explore.

3. Largo

Median home price: $330,000
Average rent for a 1-bedroom apartment: $1,546
Median household income: $56,266
Largo, FL homes for sale
Largo, FL apartments for rent

You’ll find Largo, a vibrant and diverse city in the Tampa Bay area. With a median home sale price of $330,000 and a population of 82,500, you’ll be living in a mid-sized city. Largo has plenty of outdoor recreational activities, including parks and nature preserves, like John R. Bonner Nature Park and the Florida Botanical Gardens, and golf courses.

4. Fort Myers

Median home price: $377,600
Average rent for a 1-bedroom apartment: $1,675
Median household income: $57,403
Fort Myers, FL homes for sale
Fort Myers, FL apartments for rent

The riverfront city of Fort Myers is the next affordable place on our list. Fort Myers is a popular destination for outdoor enthusiasts and nature lovers. There are about 95,900 residents in the city, and there are plenty of things to do. For example, you can enjoy a variety of outdoor activities, including boating, fishing, and wildlife viewing. Fort Myers is also known for its vibrant arts and cultural scene as seen through landmarks like the Edison & Ford Winter Estates, Burroughs Home and Gardens, and Sidney & Berne Davis Art Center.

5. Cape Coral

Median home price: $385,500
Average rent for a 1-bedroom apartment: $1,989
Median household income: $72,474
Cape Coral, FL homes for sale
Cape Coral, FL apartments for rent

The “Waterfront Wonderland,” Cape Coral, is a vibrant city on the Gulf of Mexico. It’s just west of Fort Myers and offers a bigger city feel with about 216,900 residents. With a median home sale price of about 65K under the state average, Cape Coral is a great option if you’re looking to buy a home on the Gulf Coast. The city has many outdoor activities, including boating, fishing, and kayaking. Make sure to explore the beautiful canals and see the stunning beachfront properties.

6. Clearwater

Median home price: $393,000
Average rent for a 1-bedroom apartment: $1,834
Median household income: $59,358
Clearwater, FL homes for sale
Clearwater, FL apartments for rent

With a median home sale price of $393,000, Clearwater takes the sixth spot on our list of affordable places to live on the Gulf Coast of Florida. Clearwater is known for its stunning beaches where you can fish, beach comb, and relax. You can also explore the vibrant downtown area, where you’ll find parks like Coachman Park and concert venues like The Sound and Nancy and David Bilheimer Capitol Theatre.

7. St. Petersburg

Median home price: $400,000
Average rent for a 1-bedroom apartment: $1,907
Median household income: $70,333
St Petersburg, FL homes for sale
St Petersburg, FL apartments for rent

With its beautiful waterfront parks and vibrant arts scene, St. Petersburg is the next city. LSt. Petersburg is located on Tampa Bay and is home to about 261,300 residents. The median home sale price is $400,000, so it’s about 50K less than the state’s average. The city offers a variety of cultural and recreational activities, including museums, galleries, and outdoor festivals. St. Petersburg is also home to a variety of historic neighborhoods and landmarks like the St. Pete Pier and the Museum of the American Arts and Crafts Movement.

8. Tampa

Median home price: $416,250
Average rent for a 1-bedroom apartment: $1,608
Median household income: $66,802
Tampa, FL homes for sale
Tampa, FL apartments for rent

The eighth city is Tampa, located on the west coast of Florida. Tampa has a vibrant downtown area, home to landmarks like the Straz Center for the Performing Arts, the Tampa Theatre, and the Tampa Bay History Center. This city has a population of about 398,200, so you’ll have plenty to explore in this big city.

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9. Venice

Median home price: $446,500
Average rent for a 1-bedroom apartment: $1,742
Median household income: $68,843
Venice, FL homes for sale
Venice, FL apartments for rent

The final city to make our list of affordable places to live on the Gulf Coast of Florida is Venice. This beachside paradise is known for its beautiful beaches and historic downtown area. With a median home sale price of $446,500 and a population of 27,300, Venice has a variety of outdoor activities, including beachcombing, fishing, and boating. Venice is also known for its charming historic district and vibrant arts and cultural scene.

Methodology: All cities must have over 25,000 residents per the US Census and have a median home sale price under the average median list price in Florida. Median home sale price and median sale price per square foot from the Redfin Data Center during February 2024. Average rental data from Rent.com February 2024. Population and median household income data sourced from the United States Census Bureau.

If you are represented by an agent, this is not a solicitation of your business. This article is for informational purposes only, and is not a substitute for professional advice from a medical provider, licensed attorney, financial advisor, or tax professional. Consumers should independently verify any agency or service mentioned will meet their needs. Learn more about our Editorial Guidelines here.

Alison Bentley

Alison is part of the content marketing team and enjoys writing about housing affordability and home interior design ideas. Her dream home is a cottage-style house with a chef’s kitchen and a cozy room to store and play vinyl records.

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