Many metro areas in Florida are experiencing a decline in condo prices due to the rise of homeowners association fees, homeowner’s insurance, and the difficulty in securing a condo mortgage. However, there are places in Florida that buck this trend and are seeing a double-digit increase in condo prices. These lucky homeowners are earning as much as $137 per day passively simply by being lucky enough to buy a Florida condo in the first quarter of 2023. We analyzed condo prices by comparing the prices of the first quarter of 2023 to those of 2024, and we have come up with a list of places in Florida where condo prices have risen, and the lucky owners are building equity passively.
Winners in the Florida Condo Market
Condo owners in Clewiston, Tallahassee, Okeechobee, and The Villages are the big winners here. They are experiencing a double-digit gain in condo prices when you compare the prices of the first quarter of 2023 to the first quarter of this year.
Clewiston condo owners are leading the pack in terms of the absolute dollar gain. They have gained $50,000 in a year, which translates to a passive income of $137 per day. Pensacola and Naples condo owners are also benefiting from this trend, gaining over $35000 in a year, or around $100 per day.
1. Clewiston, FL metro area
- Median Home Price 1st Q 2023: $140,000
- Median Home Price 1st Q 2024: $190,000
- Percentage Change: 26.32%
- Net Gain: $50,000
- Daily Price Change: $137
The biggest winners in the Florida condo market are the homeowners in the Clewiston metro area. Condo prices rose over 26% from the first quarter of 2023 to the first quarter of this year!
This translates to a net gain of $50,000 or a daily gain of $137. It’s amazing to think that someone who bought a Clewiston condo in the first quarter of 2023 is now passively earning $137 per day in equity.
2. Tallahassee, FL metro area
- Median Home Price 1st Q 2023: $164,000
- Median Home Price 1st Q 2024: $199,350
- Percentage Change: 17.73%
- Net Gain: $35,350
- Daily Price Change: $97
The Tallahassee metro area comes in second, experiencing a 17.73% increase in condo prices, which equates to a net gain of $35,350 or a passive income of $97 daily!
3. Okeechobee, FL metro area
- Median Home Price 1st Q 2023: $83,250
- Median Home Price 1st Q 2024: $95,000
- Percentage Change: 12.37%
- Net Gain: $11,750
- Daily Price Change: $32
The Okeechobee metro area comes in third, with a 12.37% rise in condo prices from a median of $83,250 to $95,000.
4. The Villages, FL metro area
- Median Home Price 1st Q 2023: $181,167
- Median Home Price 1st Q 2024: $203,500
- Percentage Change: 10.97%
- Net Gain: $22,333
- Daily Price Change: $61
Condo owners at The Villages have something to celebrate! They are experiencing a double-digit condo price increase of 10.97%, which equates to a net gain of $22,333 or a passive income of $61 daily!
5. Ocala, FL metro area
- Median Home Price 1st Q 2023: $130,817
- Median Home Price 1st Q 2024: $144,650
- Percentage Change: 9.56%
- Net Gain: $13,833
- Daily Price Change: $38
Condo owners in the Ocala metro area are seeing a rise of 9.56%. Condo prices increased from a median of $130,817 to $144,650.
6. West Palm Beach, FL metro area
- Median Home Price 1st Q 2023: $256,000
- Median Home Price 1st Q 2024: $277,150
- Percentage Change: 7.63%
- Net Gain: $21,150
- Daily Price Change: $58
West Palm Beach is seeing a 7.63% increase in condo prices, which equates to a net gain of $21,150 or a passive income of $58 daily!
7. Pensacola, FL metro area
- Median Home Price 1st Q 2023: $464,000
- Median Home Price 1st Q 2024: $502,000
- Percentage Change: 7.57%
- Net Gain: $38,000
- Daily Price Change: $104
Pensacola condo owners are one of the biggest winners in terms of absolute dollar gain. These homeowners have lucked out, earning a passive income of $104 a day. The median home price has increased 7.57%, equating to a net gain of $38,000.
8. Palatka, FL metro area
- Median Home Price 1st Q 2023: $319,250
- Median Home Price 1st Q 2024: $345,000
- Percentage Change: 7.46%
- Net Gain: $25,750
- Daily Price Change: $71
Palatka condo owners are seeing a 7.46% increase in condo prices, which equates to a net gain of $25,750 or a passive income of $71 daily!
9. Deltona, FL metro area
- Median Home Price 1st Q 2023: $293,250
- Median Home Price 1st Q 2024: $316,667
- Percentage Change: 7.39%
- Net Gain: $23,417
- Daily Price Change: $64
Due to a 7.39% increase in condo prices, Deltona condo owners have seen a net gain of $23,417 or a passive income of $64 a day.
10. Naples, FL metro area
- Median Home Price 1st Q 2023: $496,167
- Median Home Price 1st Q 2024: $532,500
- Percentage Change: 6.82%
- Net Gain: $36,333
- Daily Price Change: $100
Naples condo owners are among the biggest winners in terms of absolute dollar gain, with a net gain of $36,333, or $100 per day. Condo prices have increased 6.82%
11. Port St. Lucie, FL metro area
- Median Home Price 1st Q 2023: $260,733
- Median Home Price 1st Q 2024: $279,000
- Percentage Change: 6.55%
- Net Gain: $18,267
- Daily Price Change: $50
Due to a 6.55% increase in condo prices, Port St. Lucie condo owners have seen a net gain of $18,267 or a passive income of $50 a day.
12. Fort Lauderdale, FL metro area
- Median Home Price 1st Q 2023: $229,000
- Median Home Price 1st Q 2024: $241,967
- Percentage Change: 5.36%
- Net Gain: $12,967
- Daily Price Change: $36
Fort Lauderdale condo prices are increasing by 5.36%, which equates to a net gain of $12,967 or a passive income of $36 daily!
13. Gainesville, FL metro area
- Median Home Price 1st Q 2023: $181,500
- Median Home Price 1st Q 2024: $188,717
- Percentage Change: 3.82%
- Net Gain: $7,217
- Daily Price Change: $20
Condo owners in the Gainesville metro area are seeing a rise of 3.82%. Condo prices increased from a median of $181,500 to $188,717.
14. Miami, FL metro area
- Median Home Price 1st Q 2023: $391,000
- Median Home Price 1st Q 2024: $402,083
- Percentage Change: 2.76%
- Net Gain: $11,083
- Daily Price Change: $30
Miami has seen a small increase in condo prices (2.76%), which equates to a net gain of $11,083 or a passive income of $30 daily!
15. Jacksonville, FL metro area
- Median Home Price 1st Q 2023: $269,333
- Median Home Price 1st Q 2024: $273,500
- Percentage Change: 1.52%
- Net Gain: $4,167
- Daily Price Change: $11
Jacksonville’s median home price is seeing a slight positive increase, increasing 1.52% from $269,333 to $273,500.
16. Cape Coral, FL metro area
- Median Home Price 1st Q 2023: $337,083
- Median Home Price 1st Q 2024: $341,250
- Percentage Change: 1.22%
- Net Gain: $4,167
- Daily Price Change: $11
Cape Coral condo prices are in the green, seeing a slight positive in median home price, increasing 1.22% from $337,083 to $341,250.
17. Tampa, FL metro area
- Median Home Price 1st Q 2023: $240,667
- Median Home Price 1st Q 2024: $243,417
- Percentage Change: 1.13%
- Net Gain: $2,750
- Daily Price Change: $8
Tampa condo prices are up slightly, seeing a positive in median home price, increasing 1.13% from $240,667 to $243,418.
18. North Port, FL metro area
- Median Home Price 1st Q 2023: $368,467
- Median Home Price 1st Q 2024: $369,952
- Percentage Change: 0.40%
- Net Gain: $1,486
- Daily Price Change: $4
I almost did not include North Port since the gain of 0.40% is small but it’s worth mentioning since North Port condo prices are bucking the trend and in the green.
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