• TABLE OF CONTENTS
HIDE
 Front Cover
 Title Page
 Acknowledgement
 Table of Contents
 List of Tables
 List of Figures
 Introduction
 Housing affordability
 Housing supply on the MSA and county...
 Florida’s non-metropolitan...
 Economic impact of new residential...
 Conclusion
 Endnotes
 Back Cover






Title: State of Florida's Housing
ALL VOLUMES CITATION PDF VIEWER THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00087010/00004
 Material Information
Title: State of Florida's Housing
Physical Description: Serial
Language: English
Creator: Shimberg Center for Affordable Housing
Publisher: Shimberg Center for Affordable Housing
Place of Publication: Gainesville, Fla.
Publication Date: 2009
Copyright Date: 2010
 Record Information
Bibliographic ID: UF00087010
Volume ID: VID00004
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.

Downloads

This item has the following downloads:

PDF ( 3 MBs ) ( PDF )


Table of Contents
    Front Cover
        Front Cover
    Title Page
        Page 1
        Page 2
    Acknowledgement
        Page 3
    Table of Contents
        Page 4
    List of Tables
        Page 5
        Page 6
    List of Figures
        Page 7
        Page 8
    Introduction
        Page 9
        Page 10
        Page 11
        Page 12
    Housing affordability
        Page 13
        Page 14
        Page 15
        Page 16
        Page 17
        Page 18
        Page 19
        Page 20
        Page 21
        Page 22
        Page 23
        Page 24
        Page 25
        Page 26
        Page 27
        Page 28
        Page 29
        Page 30
        Page 31
        Page 32
        Page 33
        Page 34
        Page 35
        Page 36
        Page 37
        Page 38
        Page 39
        Page 40
        Page 41
        Page 42
        Page 43
        Page 44
        Page 45
        Page 46
        Page 47
        Page 48
        Page 49
    Housing supply on the MSA and county level
        Page 50
        Page 51
        Page 52
        Page 53
        Page 54
        Page 55
        Page 56
        Page 57
        Page 58
        Page 59
        Page 60
        Page 61
        Page 62
        Page 63
        Page 64
        Page 65
        Page 66
        Page 67
        Page 68
        Page 69
        Page 70
        Page 71
        Page 72
        Page 73
        Page 74
        Page 75
        Page 76
        Page 77
        Page 78
        Page 79
        Page 80
        Page 81
        Page 82
        Page 83
        Page 84
        Page 85
        Page 86
    Florida’s non-metropolitan areas
        Page 87
        Page 88
        Page 89
        Page 90
        Page 91
        Page 92
        Page 93
        Page 94
        Page 95
        Page 96
        Page 97
        Page 98
        Page 99
        Page 100
        Page 101
        Page 102
        Page 103
        Page 104
        Page 105
        Page 106
        Page 107
        Page 108
    Economic impact of new residential construction
        Page 109
        Page 110
        Page 111
        Page 112
        Page 113
    Conclusion
        Page 114
    Endnotes
        Page 115
        Page 116
    Back Cover
        Page 117
Full Text



SGw
[iuing


















Douglas White
Florida Housing Data Clearinghouse
Shimberg Center for Housing Studies
University of Florida

Robert C. Stroh, Sr.
Shimberg Center for Housing Studies
University of Florida




March 2010














Major funding for preparation this report provided by the State of Florida.

Florida Housing Data Clearinghouse
Shimberg Center for Housing Studies
M. E. Rinker, Sr. School of Building Construction
College of Design, Construction and Planning
University of Florida
Gainesville, Florida
http://flhousingdata.shimberg.ufl.edu


^^*SThe-ajpKB

Stteo Foi da's

Housing




Te- t^e.oFoid'sHusn,1














ACKNOWLEDGMENT



The Shimberg Center for Housing Studies acknowledges the Florida

REALTORS' for its financial support of the preparation and printing of this

report. Florida REALTORS' is the largest trade association in Florida with

more than 115,000 members and more than 17,000 member firms. Florida

REALTORS' provides services, continuing education, research and legislative

representation to its members.


Florida REALTORS' are committed to protecting, preserving and

enhancing the quality of life of all Floridians. For more information on the

association, please visit our website: http://www.floridarealtors.org.






The Stateoflorda' H i g 1


Contents
In tro d u ctio n ............................................................................................................................................................................................ 9
Florida's h ousin g Supply ........................................................................................................................................................................ 9
Data Description....... .................................................................. 9
G eograp hy .......................................................................................................................................................................................... 10
Single-Fam ily H housing ............................................................................ .................................................................................. 11
C on d om in ium .................................................................................................................................................................................... 12
M ulti-Fam ily H housing ........................................................................... ................................................................................... 13
Housing Affordability.................................................. ....................... ................ ........................... 13
Real Median Sales Price and Sales Volumes Changes 2007 to 2008................................................................... ...................... 42
The 2008 Single-Family Home Market .........................................................................42
The 2008 Condominium Market ................................................................... ...... 50
Housing Supply on the MSA and County Level....................................................................................................................... 50
Florida's M major M SA s.......................................................................................................................................................................... 50
Jacksonville, FL M SA H housing Supply........................................................................................................................ .................. 50
Miami-Fort Lauderdale-Pompano Beach FL MSA Housing Supply................................................................... ..................... 54
O rlando-Kissim m ee, FL M SA H housing Supply.................................................................................................. ........................... 57
Tampa-St. Petersburg-Clearwater MSA Housing Supply ............................................................ ...... 57
Florida's R em gaining M SA s .................................................................................................................................................................. 63
Cape Coral-Fort Myers, FL MSA................... .................................................. 63
Deltona-Daytona Beach-Ormond Beach, FL MSA Housing Supply.................................................................. ..................... 63
Fort Walton Beach-Crestview-Destin, FL MSA Housing Supply........................................................................ ..................... 67
Gainesville FL MSA Housing Supply .............. ............................................ ...... 67
Lakeland, FL M SA H housing Supply............................................................................................................................ .................. 67
N aples-M arco Island, FL M SA H housing Supply.......................................................................................................... .................. 67
Ocala, FL MSA Housing Supply.......................................... ......................................... ..........................73
Palm Bay-Melbourne-Titusville, FL MSA Housing Supply............................................................................... ........................... 75
Palm Coast, FL MSA Housing Supply .........................................................................75
Panama City-Lynn Haven, FL MSA Housing .......................................................................................................................79
Pensacola-Ferry Pass-Brent, FL MSA Housing Supply................................................................................................................79
Port St. Lucie-Ft. Pierce, FL MSA Housing Supply.................................................................................................................79
Punta G orda, FL M SA H housing Supply................................................................................................................ ........................ 79
Sarasota-Bradenton-Venice FL, M SA H housing Supply ....................................................................................... ...........................84
Sebastian-Vero Beach, FL M SA H housing Supply......................................................................................................... .................. 84
Tallahassee FL, MSA Housing Supply......................................................................... 87
Florida's N on -M metropolitan A areas ...................................................................................................................................................... 87
Northeast, FL Non-Metropolitan Area Housing Supply .................................................... ....... 87
Northwest, FL Non-Metropolitan Area Housing Supply.................................................................................... ........................... 87
Central, FL N on-M metropolitan Area H housing Supply .......................................................................................... ......................... 99
South, FL N on-M metropolitan Area H housing Supply............................................................................. ......... ................... ........ 109
Economic Impact of New Residential Construction........................................................................................ ........................ 109
T total Im pact on O utput............................................................................................................................................ .................. 109
Total Impact on Earnings.................................................................. ...... 109
Total Impact on Employment ................................................................. ....... 109
C o n clu sio n ........................................................................................................................................................................................... 114










Tables
Table 1. Single-Fam ily H housing Stock.......................................... ...................................................................... 14
T able 2. C ondom inium Stock .................................................................................................................................................................. 17
Table 3. M ulti-Fam ily H housing Stock w ith 9 or Less U nits..................................................................................... ............................21
Table 4. M ulti-Fam ily H housing Stock with 10 or M ore ............................................................................................ .........................25
Table 5. County Affordability Index....................................... ....................................................................... 29
Table 6..C county Affordability Index and Rank..................................... ......... ........... ....................................................................... 31
Table 7. Percentage of County Single-Family Sales Affordable at 70% of 2008 HUD Median Family Income ....................................... 33
Table 8. Percentage of County Single-Family Sales Affordable at 2008 HUD Median Family Income.................. ....... ............ .. 36
Table 9. Percentage of County Single-Family Sales Affordable at 130% of 2008 HUD Median Family Income .................................. ..... 39
Table 10. Yearly Change in Real Single-Fam ily Sales Price (2009 $)....................................................................... ............................. 44
Table 11. Yearly Change in Real Median Condominium Sales Price (2009 $) ........................................................ ............................47
Table 12. Jacksonville, FL M SA H housing Supply.............................................................................................................. .................. 50
Table 13. Baker County Housing Supply .................................................................. ....... 51
Table 14. Clay County Housing Supply.......................................................................... 51
Table 15. D uval C county H housing Supply......................................................................................................................... .................. 51
Table 16. N assau C county H housing Supply ................................................................................................. .................................. 52
Table 17. St. Johns County Housing Supply .................. ........................................... ....... 52
Table 18. Miami-Fort Lauderdale-Pompano Beach FL MSA Housing Supply.............................................. ................................ 54
Table 19. Brow ard C county H housing Supply............................................................................................................ ..................... 55
Table 20. M iam i-D ade County H housing Supply......................................................................................... ................................. 55
Table 21. Palm Beach C county H housing Supply....................................................................................................... ..................... 55
Table 22. O rlando-Kissim m ee, FL M SA H housing Supply ..................................................................... ............................................. 57
Table 23. Lake C county H housing Supply........................................................................................................................... .................. 58
Table 24. O range C county H housing Supply....................................................................................................................... .................. 58
Table 25. O sceola C county H housing Supply................................................................................................................ ........................ 58
Table 26. Seminole County Housing Supply ....................................................................... 59
Table 27. Tampa-St. Petersburg-Clearwater MSA Housing Supply.......................................................................... ..................... 59
Table 28. H ernando C county H housing Supply ......................................................................................................... .................... 59
Table 29. H illsborough C county H housing Supply.............................................................................................................. .................. 65
Table 30. Pasco C county H housing Supply.......................................................................................................................... .................. 65
Table 31. Pinellas County Housing Supply ............................................................... 65
Table 32. Cape Coral-Fort Myers (Lee County), FL MSA Housing Supply .......................................................... ....... 66
Table 33. Deltona-Daytona Beach-Ormond Beach (Volusia County), FL MSA Housing Supply ........................ ..... ..................... 66
Table 34. Fort Walton Beach-Crestview-Destin (Okaloosa County), FL MSA Housing Supply............................. ..................... 66
Table 35. G ainesville FL M SA H housing Supply................................................................................................................ .................. 69
Table 36. A lachua C county H housing Supply...................................................................................................................... .................. 69
Table 37. Gilchrist County Housing Supply ................ ...................................... ....... 69
Table 38. Lakeland (Polk County), FL M SA H housing Supply ................................................................................... ......................... 73
Table 39. Naples-Marco Island (Collier County), FL MSA Housing Supply ............................................. ................................... 73
Table 40. O cala (M arion County), FL M SA H housing Supply................................................................................. ............................ 73
Table 41. Melbourne-Titusville (Brevard County), FL MSA Housing Supply..................................................................................76
Table 42. Palm Coast (Flagler County), FL MSA Housing Supply ......................................................................... ......................76
Table 43. Panam a City (Bay County), FL M SA H housing ...................................................... ...........................................................76
Table 44. Pensacola-Ferry Pass-Brent, FL MSA Housing Supply ................................................................ .................................. 80
Table 45. Escam bia County, FL M SA H housing Supply ............................................................................. ................................... 80
Table 46. Santa Rosa County, FL MSA Housing Supply........................................................................... ................................... 80
Table 47. Port St. Lucie-Ft. Pierce, FL M SA H housing Supply.................................................................................. ..................... 82
Table 48. M martin C county H housing Supply ................................................................................................. .................................. 82
Table 49. St Lucie C county H housing Supply...................................................................................................................... .................. 82






The Stateoflorda' H i g 1


Table 50. Punta G orda (Charlotte County), FL M SA H housing Supply.................................................................... ..................... 84
Table 51. Sarasota-Bradenton-Venice FL, M SA H housing Supply............................................................................. ...........................85
Table 52. M anatee County H housing Supply..................................................................................................................... .................. 85
Table 53. Sarasota County H housing Supply........................... ......... ..... ............................................................................................ 85
Table 54. Sebastian-Vero Beach (Indian River County), FL M SA H housing Supply.................................................. ........................... 87
Table 55. Tallahassee FL, M SA H housing Supply............................................................................................................... .................. 88
Table 56. G adsden County H housing Supply..................................................................................................................... .................. 88
Table 57. Jefferson County H housing Supply............................................................................................................ ........................... 88
Table 58. Leon County Housing Supply ........................................................................ 91
Table 59. W akulla County H housing Supply............................................................................................................ ...... 91
Table 60. N northeast, FL N on-M metropolitan Area H housing Supply........................................................................... ..........................91
Table 61. Bradford County H housing Supply .............................................................................................. .......... ........................... 93
Table 62. Colum bia County H housing Supply................................................................................................................... .................. 93
Table 63. D ixie County H housing Supply.......................................................................................................................... .................. 95
Table 64. H am ilton County H housing Supply............................................................................................................. ........................ 95
Table 65. Lafayette County H housing Supply .............................................................................................. .......... ........................... 95
Table 66. Levy County Housing Supply......................................................................... 97
Table 67. M adison County H housing Supply..................................................................................................................... .................. 97
Table 68. Suw annee County H housing Supply................................................................................................................... .................. 97
Table 69. Taylor County H housing Supply......................................................................................................................... .................. 99
Table 70. Union County Housing Supply ......................................................................... 99
Table 71. N northwest, FL N on-M metropolitan Area H housing Supply........................................................................ .......................... 101
Table 72. Calhoun County H housing Supply................................................................................................................... .................. 101
Table 73. Franklin County H housing Supply............................................................................................................. ........................ 101
Table 74. Gulf County Housing Supply................................................................... ....... 103
Table 75. H olm es County H housing Supply........................................................................................................... ................... ........ 103
Table 76. Jackson County H housing Supply..................................................................................................................... .................. 103
Table 77. Liberty County H housing Supply............................................................................................................... ........................ 104
Table 78. W alton County H housing Supply............................................................................................................... ........................ 104
Table 79. W ashington County H housing Supply.......................................................................................................... ............... ....... 104
Table 80. Central, FL N on-M metropolitan Area H housing Supply............................................................................ ..................... 105
Table 81. Citrus County H housing Supply....................................................................................................................... .................. 105
Table 82. Putnam County H housing Supply.............................................................................................................. ........................ 105
Table 83. Sum ter County H housing Supply............................................................................................................... ........................ 106
Table 84. South, FL N on-M metropolitan Area H housing Supply ................................................................. .................................. 106
Table 85. D esoto County H housing Supply............................................................................................................... ........................ 106
Table 86. G lades County H housing Supply...................................................................................................................... .................. 107
Table 87. H ardee County H housing Supply..................................................................................................................... .................. 107
Table 88. H endry County H housing Supply........................................................................................................... ........................... 107
Table 89. H highlands County H housing Supply....................................................................................................... ........................... 108
Table 90. M onroe County H housing Supply.................................................................................................................... .................. 108
Table 91. O keechobee County H housing Supply ..................................................................................................................................... 108
Table 92. Value ($1000s) & N um ber of N ew Units Constructed in 2008 ......................... ....... ............................................... 110
Table 93. Im pact on O utput ($1000s) ........................................ ..................................................................... 111
Table 94. Im pact on Labor Earnings ($1000) ........................................................................................................ ........................... 112
Table 95. Impact on Employment ................................................................. ...... 113










Figures
Figure 1. Florida's 4 M major M metropolitan Areas............................................................................................................... ................... 10
Figure 2. Florida's Rem gaining 16 M metropolitan Areas ................................................................................................ ......................... 10
Figure 3. Florida's 4 N on-m metropolitan Areas .................................................................................. ................................................... 11
Figure 4. Percentage of Florida's Single-Family Housing Stock................................................................................. ..................... 11
Figure 5. M edian 2008 Single-Fam ily Sales Price............................................................................................................. ................... 12
Figure 6. Percentage of Florida's Condom inium Stock............................................................................................. ........................... 12
Figure 7. M edian 2008 C ondom inium Sales Price................................................................................................... ........................... 12
Figure 8. Percentage Decrease in Single-Family Sales 2007 to 2008........................................................................ ...................... 43
Figure 9. Change in Real Median Single-Family Home Sales Prices (2009 $) ......................................................... ......................43
Figure 10. Change in Number of Condominium Sales 2007 to 2008..................................................................... ......................43
Figure 11. Change in Real Median Condominium Sales Prices (2009 $)........................................... ...........................................43
Figure 12. Jacksonville, FL M SA .......................................... ............................................................................................................ 50
Figure 13. Jacksonville MSA Real Median Single-Family Sales Prices (2009 Dollars)............................................... ..................... 53
Figure 14. Jacksonville MSA Real Condominium Sales Prices (2009 Dollars)............................................................... ..................... 53
Figure 15. M iam i-Fort Lauderdale-Pom pano Beach, FL M SA ................................................................................. ......................... 54
Figure 16. Miami MSA Real Median Single-Family Sales Prices (2009 Dollars) ........................................... ................................ 56
Figure 17. Miami MSA Real Median Condominium Sales Prices (2009 Dollars) ........................................ ............................... 56
Figure 18. O rlando-K issim m ee, FL ........................................ .. ........................ ......................................................................... 57
Figure 19. Orlando-Kissimmee MSA Real Median Single-Family Sales Prices (2009 Dollars)........................... .......................... 60
Figure 20. Orlando-Kissimmee MSA Real Median Condominium Sales Prices (2009 Dollars) ................................... ............... 60
Figure 21. Tam pa-St. Petersburg-Clearw after M SA ............................... ..................................................................................... 57
Figure 22. Tampa-St. Petersburg-Clearwater MSA Real Median Single-Family Sales Prices (2009 Dollars)............................................. 60
Figure 23. Tampa-St. Petersburg-Clearwater MSA Real Median Condominium Sales Prices (2009 Dollars)......................................... 60
Figure 24. Cape Coral-Fort M years, FL M S................................................................................................................. 63
Figure 25. Cape Coral-Ft. Myers MSA Real Median Single-Family Sales Prices (2009 Dollars).................................................... 62
Figure 26. Cape Coral-Ft. Myers MSA Real Median Condominium Sales Prices (2009 Dollars) ......................... .... ..................... 62
Figure 27. Deltona-Daytona Beach-Ormond Beach, FL MSA................................................ ...................................................... 63
Figure 28. Deltona-Daytona Beach-Ormond Beach MSA Real Median Single-Family Sales Prices (2009 Dollars) ............................... 64
Figure 29. Deltona-Daytona Beach-Ormond Beach MSA Real Median Condominium Sales Prices (2009 Dollars)............................... 64
Figure 30. Fort Walton Beach-Crestview-Destin, FL MSA................................................................................................................. 67
Figure 31. Fort Walton Beach-Crestview-Destin MSA Real Median Single-Family Sales Prices (2009 Dollars)....................................... 68
Figure 32. Fort Walton Beach-Crestview-Destin MSA Real Median Condominium Sales Prices (2009 Dollars).................................... 68
Figure 33. G ainesville, FL M SA ........................................... ............................................................................................................. 67
Figure 34. Gainesville MSA Real Median Single-Family Sales Prices (2009 Dollars).................... ................................................. 70
Figure 35. Gainesville MSA Real Median Condominium Sales Prices (2009 Dollars)............................................. .......................... 70
Figure 36. L akelan d, FL M SA .................................................................................................................................................................. 67
Figure 37. Lakeland-Winter Haven MSA Real Median Single-Family Sales Prices (2009 Dollars) ........................................................71
Figure 38. Lakeland MSA Real Median Condominium Sales Prices (2009 Dollars).................... .................................................. 71
Figure 39. N aples-M arco Island, FL M SA ........................................... ................................................. 67
Figure 40. Naples-Marco Island MSA Real Median Single-Family Sales Prices (2009 Dollars).................... ................................ 72
Figure 41. Naples-Marco Island MSA Real Median Condominium Sales Prices (2009 Dollars) ..........................................................74
Figure 42 O cala F L M SA ....................................................................................................................................................................... 72
Figure 43. Ocala MSA Real Median Single-Family Sales Prices (2009 Dollars)....................................................... .......................... 74
Figure 44. Ocala MSA Real Median Condominium Sales Prices (2009 Dollars)..................................................... .......................... 75
Figure 45. Palm Bay-Melbourne-Titusville, FL MSA............................................ ............. .................... ............................ 75
Figure 46. Melbourne-Titusville-Palm Bay MSA Real Median Single-Family Sales Prices (2009 Dollars) .............................................77
Figure 47. Palm Bay-Melbourne-Titusville MSA Real Median Condominium Sales Prices (2009 Dollars) .............................................77
Figure 48. Palm C oast, FL M SA ........................................... ............................................................................................................ 75
Figure 49. Palm Coast MSA Real Median Single-Family Sales Prices (2009 Dollars) .............................................. ......................78






The Stateoflorda' H i g 1


Figure 50. Palm Coast MSA Real Median Condominium Sales Prices (2009 Dollars)............................................ ........................... 78
Figure 51. Panam a City-Lynne H aven FL, M SA ........................ ... ............... ................................................................................... 79
Figure 52. Panama City-Lynne Haven MSA Real Median Single-Family Sales Prices (2009 Dollars) ........................ .............. 81
Figure 53. Panama City-Lynne Haven MSA Real Median Condominium Sales Prices (2009 Dollars)........................................... .. 81
Figure 54. Pensacola-Ferry Pass-Brent FL, M SA ............................................................ ........... .. .... .................................... 79
Figure 55. Pensacola-Ferry Pass-Brent MSA Real Median Single-Family Sales Prices (2009 Dollars)...................................................... 83
Figure 56. Pensacola-Ferry Pass-Brent MSA Real Median Condominium Sales Prices (2009 Dollars).......................... ...................... 83
Figure 57. Port St. Lucie-Ft. Pierce, FL M SA ................................... ...... .................................................................................. 79
Figure 58. Port St. Lucie-Ft. Pierce MSA Real Median Single-Family Sales Prices (2009 Dollars)........................ ..... ..................... 86
Figure 59. Port St. Lucie-Ft. Pierce MSA Real Median Condominium Sales Prices (2009 Dollars)............................................ 86
Figure 60. Punta Gorda FL, MSA .............................. ................................................................ 79
Figure 61. Punta Gorda MSA Real Median Single-Family Sales Prices (2009 Dollars)............................................. .......................... 89
Figure 61. Punta Gorda MSA Real Median Condominium Sales Prices (2009 Dollars)................................................. 89
Figure 63. Sarasota-Bradenton-Venice FL, M SA ............................ ............................ .................................................... 84
Figure 64. Sarasota-Bradenton-Venice MSA Real Median Single-Family Sales Prices (2009 Dollars) ............................................ 90
Figure 65. Sarasota-Bradenton-Venice MSA Real Median Condominium Sales Prices (2009 Dollars)........................ ............... 90
Figure 66. Sebastian-Vero Beach FL, MSA ........................................................... ............................ 84
Figure 67. Sebastian-Vero Beach MSA Real Median Single-Family Sales Prices (2009 Dollars)................................................... 92
Figure 68. Sebastian-Vero Beach MSA Real Median Condominium Sales Prices (2009 Dollars)......................... ..................... 92
Figure 69. Tallahassee FL, MSA......................... ... .................................................... ....... 87
Figure 70. Tallahassee MSA Real Median Single-Family Sales Prices (2009 Dollars)..................... .................... ..................... 94
Figure 71. Tallahassee MSA Real Median Condominium Sales Prices (2009 Dollars) ....................................... 94
Figure 72. N northeast, FL N on-M metropolitan Area................................................ ..................................... ....................................... 87
Figure 73. Northeast, FL Non-Metropolitan Area Real Median Single-Family Sales Prices (2009 Dollars) ...................................... 96
Figure 74. Northeast, FL Non-Metropolitan Area Real Median Condominium Sales Prices (2009 Dollars) ........................................ 96
Figure 75. N northwest, FL N on-M metropolitan Area .............................. .... ............. ........... .................................................. 93
Figure 76. Northwest, FL Non-Metropolitan Area Real Median Single-Family Sales Prices (2009 Dollars) ...................................... 98
Figure 77. Northwest, FL Non-Metropolitan Area Real Median Condominium Sales Prices (2009 Dollars) ...................................... 98
Figure 78. Central, FL N on-M metropolitan Area................................ .................. .... ....................... ............ ............................... 99
Figure 79. Central, FL Non-Metropolitan Area Real Median Single-Family Sales Prices (2009 Dollars) ..................... ..................... 100
Figure 80. Central, FL Non-Metropolitan Area Real Median Condominium Sales Prices (2009 Dollars)............................................ 100
Figure 81. South, FL Non-Metropolitan Area ........................ ................................................ ..................... 109
Figure 82. South, FL Non-Metropolitan Area Real Median Single-Family Sales Prices (2009 Dollars) ............................................ 102
Figure 83. South, FL Non-Metropolitan Area Real Median Condominium Sales Prices (2009 Dollars) ..................... ..................... 102










INTRODUCTION

This study is a compendium of facts on Florida's housing. The
data highlight the tremendous diversity in housing characteristics
across the state, particularly between the 39 urban counties and the
28 rural counties, as well as between coastal and non-coastal coun-
ties. The characteristics of Florida's housing reflect the characteris-
tics of the state's population.
In the first part of the report, property appraiser data files are
used to examine Florida's housing stock. First the housing stock is
separated into three broad categories: single-family housing, con-
dominiums, and multi-family housing, which are further separated
into complexes with two to nine units and complexes with ten
or more units. This separation highlights the difference between
the rural, urban, and coastal counties. Single-family housing units
dominate, but condominiums are an important source of hous-
ing in some coastal counties. Other broad trends are discussed in
this section including the total number of units, the median age of
units, and the median sales price of units in each county. The coastal
and large urban counties tend to have the largest number of units
and the highest median sales prices when compared to the rest of
the state.
The issue of housing affordability is examined in the next section.
The most affordable housing is generally located in rural counties
in the interior and northern part of the state. In general, the least
affordable counties are either coastal counties or located in major
metropolitan areas.
The report then examines how the sales volume and real median
sales price has changed between 2007 and 2008 for both single-
family housing and condominiums.
The next section looks at the housing supply and the real median
single-family and real median condominium sales price for each
metropolitan statistical area (MSA) and the four non-metropolitan
areas. The section also examines the individual counties that make
up multi-county MSAs and/or non-metropolitan areas, and looks at
the differences in those counties.
The final section examines the impact of new residential construc-
tion in Florida in 2008. This section examines the number and
value of new single-family and multi-family homes built in Florida
in 2008, and their impact on the Florida economy. Specifically, this
section examines the impact on output, earnings, and employment.


FLORIDA'S HOUSING SUPPLY

Florida's housing stock includes single-family units, multifamily
units, and mobile homes. Although all three types of housing units
are represented, the housing inventory is dominated by the single-
family home. About 58 percent of the state's single-family hous-
ing stock is located in four major metropolitan areas: Jacksonville,
Miami-Fort Lauderdale-Pompano Beach, Orlando-Kissimmee, and
Tampa-St. Petersburg-Clearwater. Although not a type of structure,
condominium housing is an important housing category in some
areas of the state. The Miami-Fort Lauderdale-Pompano Beach
MSA alone has 51 percent of the state's condominiums. Significant


concentrations of condominiums are also found in Collier, Lee,
Pinellas, and Sarasota Counties. Clearly, condominiums tend to be
a coastal phenomenon. By contrast, mobile or manufactured hous-
ing is largely a rural, inland phenomenon.

Data Description
To understand and analyze Florida's stock of housing, tax assess-
ment records from the 67 county property appraisers are examined.
From all 67 counties, the Shimberg Center extracts data on the four
major categories of residentially coded parcels: single-family, mobile
home, condominium, and multi-family housing, which is further
divided into multi-family housing with 9-or-less units and multi-
family housing with 10-or-more units. This results in a database
that contains information on residential parcels of land and most
residential structures in Florida including: parcel identification; land
use code (vacant residential, single-family, condominium, etc.); total
assessed value; assessed land value; year in which structure was built;
square footage of the structure; parcel size; date and price of the two
most recent sales; ad valorem tax jurisdiction; homestead exemp-
tion; and location of the property by section, township, and range.
The database contains most but not all residential structures, exclud-
ing: (1) residential structures located on land that is not residentially
coded, such as residential structures located on land that has an
agriculture coding or residential structures that have a commercial
coding; (2) manufactured housing not classified as real property
(this problem is discussed in more detail later in the report); and
(3) structures that are not one of the four major residential land use
categories examined. The data, unless otherwise noted, are for the
final tax roll year 2009.
Use of the individual county property appraiser data allows us
to reasonably compare housing characteristics in the counties with
each other. However, there are gaps and limitations in these Depart-
ment of Revenue (DOR) data sets. Gaps occur because in some
counties, certain fields of data are not included in the records or are
missing for specific property types. For example, in many coun-
ties the year built information and/or square footage is missing for
condominiums 1 and/or multi-family units.
The sales data also has some limitations. In a few cases only one
year of sales data is reported. Limitations on the data can occur for
two reasons. First, only the two most recent sales prices and year
of those sales are reported. Any time a parcel sells, the older of the
two sales is lost. If one examines the county sales history, for every
county the number of sales has increased over time, and there are
two potential explanations for this observation. The first is that sales
really have increased over time, and the second is that this increased
frequency is just a statistical anomaly due to properties selling mul-
tiple times, eliminating the older records. In an attempt to over-
come this problem, we have merged sales data from the previous
eight roll years (2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007







-TeStof.loida' Hoig 1


and 2008) with the current roll year (2009). The combination of
the different roll years allows us to capture more sales for each parcel
and should increase the accuracy of the sales price time series. While
this change makes the sales price and number of sales time series
more accurate, the decreasing number of sales is still partially a rem-
nant of the ways the sales are reported to use. As we add more roll
years to the dataset, this problem should decrease in significance.
A second limitation in the data is that definitions vary somewhat
across counties; an example of this is square footage. Property ap-
praisers calculate and use more than one measurement of square
footage in their appraisal process. Thus, this characteristic can vary
across county and possibly over time within the county. Another
reason square footage can vary is the presence of multiple buildings
on a parcel, which show up in the value for square footage field2.
Another problem that has to be addressed when creating the
database is that the data must be cleaned. For example, any sales
that are determined to be a "non-arms-length" transaction (by the
DOR transaction code) are deleted. Additionally, any observations
with obvious mispricing (due to data entry or other error) or which
are not considered a sale for purposes of the report are deleted. For
example, the older of two recent sale prices for a newly constructed
home is usually the sale of the lot; a price not comparable to the
sale price after the home has been constructed. Finally, data entry
problems exist that have required the development of screening
rules to eliminate information that falls outside reasonable
boundaries.
Despite these problems, the property appraiser data provides
information on Florida's housing stock that is not otherwise
available. For example, decennial Census data, because of de-
lays due to its release and the fact that it is only conducted once
a decade, means that variables such as median housing prices
may be dated and less than accurate. The Census is also subject
to inaccuracies in evaluating housing unit characteristics be-
cause it relies on the evaluation by the occupants for estimates
of numerous variables such as property value and age. Other
sources, while current and valuable are subject to limitations of
geographic coverage or amount of information available.3
The following section describes the existing single-family
housing stock in Florida. Subsequent sections provide detailed
information on the condominium market and the multifamily
housing market. Although manufactured housing accounts
for a significant portion of residential housing units in many
rural counties, we are unable to describe and discuss Florida's
manufactured housing stock because comprehensive, accurate
data are not available from the property appraiser data at our
disposal. Accurate data on manufactured housing is difficult
to obtain for several reasons. First, a manufactured home is
only classified as real property if the owner owns both the home
and the lot. It is these homes that are included in the property
appraiser files. Other manufactured housing, perhaps the larger
share, is located on rented sites and carries a tag from the Division
of Motor Vehicles.4


Geography
The housing data are examined at the county level and the metro-
politan statistical areas (MSAs) level. A MSA is an area with a high


Figure 1. Florida's 4 Major Metropolitan Areas


bknd. )Iqe M affpban An,
Ik J.-
hInk & &U-
Y JlrPendlju


Figure 2. Florida's Remaining 16 Metropolitan Areas


pEadt. C..
mw...6.Mrc.e..a.

m-

= trt- m
1PrCVIT >
Pw6
rIf 8i 111


degree of social and economic integration, a population of 100,000
or more, and contains at least one city of 50,000 or more. The MSA
is named after its central city or cities. Florida has 20 MSAs that
contain 39 of its 67 counties.
The state's 20 metropolitan areas (MSAs) are further divided into
"major" metropolitan areas (4 MSAs) and "other" metropolitan
areas (16 MSAs). The four major MSAs are Miami-Ft. Lauderdale-
Pompano Beach, Jacksonville, Orlando-Kissimmee, and Tampa-
St. Petersburg-Clearwater. As Figure 1 shows, a total of sixteen


.*--









Figure 3. Florida's 4 Non-metropolitan Areas



























Figure 4. Percentage of Florida's Single-Family Housing Stock
Figure 4. Percentage of Florida's Single-Family Housing Stock


Permcag aol lorlda'i SingleSFamly Housing Saock
[: Lt] aM t %
< toln %
"i Ol"
** i
use*'''"


a...-OS "


counties make up the four major MSAs. The 16 remaining MSAs
include twenty-three counties, which are shown in Figure 2.
A total of 39 of Florida's 67 counties are therefore found in met-
ropolitan areas, with the remaining 28 being non-metropolitan.5
These remaining 28 counties are further categorized, as shown in
Figure 3, into four regional groups: Northwest, Northeast, Cen-
tral, and South, according to categories used by the University of
Florida's Bureau of Economic and Business Research.


Single-Family Housing6
Summary data by county, with aggregations to metropolitan
and state totals, are included in Table 1. There are 4.86 million
single-family housing units in the state of Florida and the total
assessed value of these units is $846.2 billion. A total of 72.2% of
these units are occupied by their owner; the remaining units are
renter-occupied. The number of single-family sales in 2008 totaled
171,718 which is equal to 4.5 percent of the total single-family
housing stock in this state. The median 2008 single-family sales
price was $194,300.
As shown in Figure 4, Florida's housing is geographically concen-
trated.
The four major MSAs contain 2.8 million single-family units and
these units comprise about 57.6 percent of the total housing stock
in the state. Thirty-nine percent of the major MSA total, compris-
ing nearly 22.5 percent of the state, is found in the Miami-Fort
Lauderdale-Pompano Beach MSA. The Tampa-St. Petersburg-Clear-
water MSA (which we will refer to as Tampa Bay) has 27 percent of
the major MSA total which is 15.6 percent of the state total. The
Orlando-Kissimmee MSA has 20 percent of the major MSA total,
representing 11.7 percent of the state's single-family stock, and the
Jacksonville MSA has 7.9 percent of the state total.
The 16 other MSAs contain 36.4 percent of the state's single-fam-
ily housing stock, while the 28 non-metropolitan counties contain
only 6 percent. The non-metropolitan counties show the extremes
of population densities in the state. For example, Lafayette County
has only 925 single-family units. Other counties with less than
2,000 units include Glades, Hamilton, Liberty and Union County.
Counties with the largest number of sales transactions in 2008
are, as expected, the largest counties in population. Fifty-three
percent of the single-family transactions in the state in 2008 were in
the major MSA counties. Another 40.5 percent of all sales in 2008
were in the other MSA counties, while the remaining 6 percent were
in the non-metropolitan counties.
The highest single-family median sales prices in 2008 were in
Monroe ($576,500), Miami-Dade ($330,000), Collier ($320,000),
Walton ($314,900), and Palm Beach ($285,000) Counties. Other
counties with median sales prices above $250,000 include Broward,
Franklin, Martin, and St. John's.
As shown in Figure 5, the sales price data further illustrate the
differences between urban and rural counties and between coastal
and non-coastal counties. The highest mean prices in 2008 are in
coastal counties, several of which are not major urban counties (for
example, Monroe). At the other extreme, counties with the lowest
mean house prices are generally rural, slow growing, and located in
the interior or panhandle of the state.






-TheSta e oflor'g 1


Figure 5. Median 2008 Single-Family Sales Price


MImlian 200 Singh-.Family Salns Piat
U Less man sioe."m
C) so1.ooo00 a 14
sI $ ,ooo l, W .moo
^| y"f.OO to ia.moO
I >?,&


Figure 6. Percentage of Florida's Condominium Stock


Percenag ol Honrs Condommwnm Stock
Li mf c4am..d .
j Less hn 1%
4.0 to. .9s
m 1.2o "


- p


Condominiums Figure 7. Median 2008 Condominium Sales Price


The role of condominiums in providing housing in a county is
another indicator of the differences in housing stock across counties.
Table 2 contains summary information on the state's stock of con-
dominiums. As expected, condominiums are an important source
of housing in coastal counties where a number of retirees live, but
not in interior counties. Summing across counties indicates that
there were 1,568,927 condominiums in the state in 2009, and
38.2 percent of these units are owner-occupied, much less than the
72.2 percent owner-occupied percentage found in the single-family
stock. A total of 785,883 units, or 50 percent of condominium
units in the state, are located in the Miami-Fort Lauderdale-Pom-
pano beach MSA. Figure 6 shows the geographical distribution
of condominiums across the state. In total, the non-MSA counties
have less than 1.6 percent of the total condominiums in the state,
and almost 77.5 percent of these are found in two counties: Monroe
and Walton. Other coastal metropolitan counties have a much
smaller stock of condominium units than the three southeast coun-
ties, but condominiums still play a major role in the provision of
housing in those counties. For example, Collier County's 95,396
condominium units far exceed the 76,447 single-family housing
units in the county.
Discussion of the characteristics of condominiums in the state is
limited by the lack of data in a number of the data fields in some
counties. These fields include year built, age, and price. The fol-
lowing description is based on the available data.
The number of condominium sales in the state totaled 68,210
units in 2008. Of these 24 percent occurred in Miami-Dade
County, 11.3 percent in Palm Beach County, and 14.6 percent in
Broward County. These three southeast counties accounted for
about 50 percent of all condominium transactions in the state. Fig-
ure 7 shows the median sales prices for condominiums vary widely


C4


MedMn 20M Codomlnlun Saes Price
SNu C-auminnm
B Lss.aaoh- SIMON
* oac coo wgae'rrm
* 27 .000 U60.1
I UWs.oO 44o,
" ""'""'""*ILM


r


lET


..,1
across counties. The median price of condominium units sold in
the state in 2008 was $188,745. Counties with median sales prices
at/or above $360,000 were Taylor ($464,500), Gulf ($397,000),
Monroe ($395,000), Flagler ($370,000), Escambia ($370,000),
Walton ($365,000) and Franklin ($360,000). The relatively high
price of portions of the condominium stock in Florida appears to
reflect the steep premium paid for the ocean accessibility that is an
attribute of many condominiums in coastal settings and the retire-
ment clientele for the units.


C









Multi-family Housing
We divide the multifamily stock, consistent with the appraiser
data, into two categories: complexes with less than 10 units and
complexes with 10 or more units.
Table 3 contains summary information on the state's stock of
multifamily properties containing fewer than 10 units. There are
about 161,698 multifamily properties that contain fewer than 10
units in the state of Florida, and these multi-family units contain
at a minimum around 304,000 residential units. Approximately
62 percent of these are found in the four major metropolitan areas,
with another 34 percent located in other metropolitan areas. Only
4 percent of these small multifamily complexes are found in non-
MSA counties. Almost twenty percent of these units are found
in Miami-Dade County. Only twelve of the non-MSA counties
have more than 100 such complexes, with Monroe having almost
38 percent of the non-MSA total. Other non-MSA counties with
more than 100 properties were Columbia, Citrus, Putnam, DeSoto,
Hardee, Hendry, Highlands, Madison, Sumter, Okeechobee, and
Walton County. These numbers again point to the differences that
are observed between the urban, coastal counties and the rural,
interior counties of Florida. As with condominium units, which are
also likely found in multifamily structures, it is apparent that urban
and coastal counties are the predominant settings for such structures
while the rural and interior counties are characterized by a largely
single-family housing stock.
Table 4 contains information on multifamily complexes with 10
or more units. With a total of 14,064 complexes in the state, there
are about 9 percent as many of these larger complexes as there are
of complexes with less than 10 units, but these complexes have at a
minimum 746,000 residential units, or almost two and a half times
as many residential units as the smaller multi-family complexes. A
total of 23.2 percent of these larger complexes are located in Miami-
Dade County, with 13.2 percent in Broward County and 12.2
percent in the Tampa Bay MSA. The four major MSAs contain
approximately 66.7 percent of all complexes of this type. The other
MSAs contain 27.3 percent of the state total, with Volusia, Alachua,
and Leon Counties having more than 350 complexes. The Alachua
and Leon numbers reflect the concentration of college students in
those communities. Non-MSA counties contain only 6 percent of
the state's stock of larger apartment complexes.



HOUSING AFFORDABILITY

The affordability of housing is an important issue nationally and
in the state of Florida. Households are concerned about it because
affordability affects their ability to become a homeowner, as well
as the size and amenities of the home they are able to purchase.
Real estate salespersons and other industry participants also are
concerned, because the number of households able to afford the
purchase of a home is an important determinant of single-family
sales activity in their local markets. Housing affordability also has
become an important public policy issue, as home ownership is
viewed as being an important goal for both individual and societal
reasons.


Three factors are the primary determinants of the affordability
of housing. These are household income, housing prices, and
mortgage rates. For a household considering homeownership, an
additional factor is the rate of appreciation in housing prices. This
chapter begins with a discussion of affordability using a homeown-
ership cost index measure. It then investigates issues of housing
affordability using a concept called cost burden.

Housing Affordability Index
One measure of housing affordability is the cost of homeowner-
ship, commonly conveyed through housing affordability indices.
A housing affordability index for an area brings together the price
and the income elements that contribute to housing affordability.
The most common index construction method is that used by the
National Association of REALTORS (NAR). The NAR index
measures the ability of the median income household in an area to
purchase a median priced house. In addition to the median income
and median house price in an area, index construction requires
the current mortgage interest rate, assumptions about the down
payment required to purchase the median price home, and the
maximum percentage of household income that can be spent on
housing. An index of 100 indicates the typical (median) household
in the area has sufficient income to purchase a single-family home
selling at the median price.8 Median house prices are calculated
from the DOR county property appraiser datasets. Median house-
hold incomes are purchased from Claritas.
Although important, median sale prices in a county or MSA do
not alone determine housing affordability. A second important fac-
tor is the income of area residents. The highest household incomes
in Florida are generally in the coastal counties that also contain
many high priced housing units. However, median household
incomes and single-family house prices in an area are only moder-
ately correlated which can lead to significant differences in housing
affordability across counties and MSAs.
Our index construction method can be represented by the follow-
ing formula:


Arm. ., Index


Median household income
Qualifying income x 100


Qualifying income is defined as the income needed to qualify
for a mortgage to finance an existing median-priced home. As an
example, the median household income in the Alachua County
in 2008 is $38,450, the median 2008 sales price of a single-family
home is $196,000, and the 30-year mortgage interest rate of 6.04
percent' yields a mortgage constant of 0.006021, the calculated af
fordability index is 71.45:


$38,450
4 x 12(0.95 x $196,000) x 0.006021


* 100


$38,450
- _* "100
$53,815

=71.45











-TeStof.loida' Hoig 1


NI NI ON NI ON ~


o-oo
0 0 0 o6
0 0 0 GO ^t- 0f


aooo" a--o f"o' -
gw 'w ^


N O ~YXN:


oooo
oooo
o~oo



0 N 0
0 0 H0 0
0 0 0 0
1~ f G 0
^ s ^


88888
omoooi
~~oool
m-~No
iff~~iffW




aoaoaoaoy
"a~"g
" "
N~SNNn:
'I


NIH









NI ON
OND N NI 0
iff 2 , = !





" " a


S
N ON ON
ON N O


S; 1 O S
GO NI N ON
H11 0






ys t- ~^ i
" "


NI N N CD ON NF NI [ [9 r D ON ND OND
SNI I N H NIO H H
O; [ ON [ [ NI~ NI NI


ON o N O NI[ I
o- o~ $ 99 H


GO GU)oo
oC GO 0 G' >


I N o N0
NI Ho


Hg"e H
S 3P SS


0 8 0 N ON
0 0 0 0
^)-m H 0
nm GsO ) 0 0
^ ^ ^


E



9r
pao
.e a
111111

iPa
.B

ai
Ld0


H
H


go


L -T~ iff


m ~mn~~~ ~~og
"8" 6: o
9 9
r- NO` XI= OY)~9~




8 ~~R~~% ~fiGM
oo-oo, --o,


I w n


ooo 9
000 e


8hh~
ood





~66$


01 O\O\O\~O\ih


8=IP ~1~SP
~~~ol ~~~~ol
~ ----~


~~NR
~~MS

~I"$
ininin


o .6
if-'A


aoaoao~
~=R~
N


fl m
ll cl


989,

,,,o


RS"~z %
~~oo, m

n-Ne m
N


















ON NI N N m
N~ NI N N NI NI NI N


ao o a ~ oo
ON ON ON N ON


O NI O nS ^sg
CNI [ ON 0 ON
H NI~ N HHn ~


o o o'








NI ON
H 8


0 0 0 0
0 -1 M0 O-i
fl 0'r^ I-"oC 0


GO U-) r- or f1l







M" M" 'o


NIH


0 ^







a s


o o c






fi fi ir
6 w s


NI O NI
NI N N 0


0' 04
"iO'i'


--t- 0\ f
^o o i~ r -


N ON -N N N0~ 0-
N N N NI NI




R ,ml 1. 1"~~
8 ~ ~cl c6 l


ao aor oS





" -i ~~ 0
NI NI
NIH


ON) NI NI ON 1- -^
No -N~ ON ~ ~

^9 ?3 C o SS

0o 0 0 -i ,_;



1~~ 0' M o ^' C 0
ot o o0 00 1


'C


'C


I 'C


. 8


2 -a


0 0
0 0 0
0 U)



^ ^ '
^ ^


?i8
So ;


tI



.e O


8 888
s
~ 4~W


oooov,
oooo~
88~~~
inaininin


888
"ON.

iffiff~


nsn c.
N N ~ ~ ~ i cl I i 1


~ 8 fi S ~ 48~ ~~F 6 ~%8
o o o o -o, ood o o-,


s "


~ ~1~ p~g
~ ~~ol ~~ol


0` ~

M P~
N R
~A ~A


~RJ
~co


RxS

SR~
iffiff
O
iff


O~R

"60,

iffiff~


a ^ ^


o f.l el
1-1 M" !










-TeStof.loida' Hoig 1


ON~~~ F, ,o ,o
ON t -~ ci ~ c
ci N CiN ci ci


o=" o~ooo~ooo
0 0 0 t 0 0 0 0
cil GO" ci cit 0ci"cici0 0" ^'


ci Ct
ci C


-< r-i' o'
N Ct


coocoococo
O 16 0 o 0 c e 0 0




S. . . . .=
Oni f-1n 0n 0 0 0 0


0 R8 0 0 0 0 0 0^










f-l O" l f-l f- fl ^t O O



0 I ~^ 0" 0 ^ 0





0 0 0 0 0 0 0 0 0 0






w ^w _" ssw w


ci i O
ci O


oocoO


-Ic


O ci ON O a N -
W, W W =


ci i C ci N c
oN ~ t c O


V""=~


ci c0 ci N O N^ ^
. . . . . .




o 8" o ooo




f^ = M ~ f100 ^ I


fl f
--) o f





a w w ^



*6 *6 *
0 0 tSo


ci v 4
S gS S5 S gS %




a" m a







ci t cici^ ^ O
i N N ON N N ON c
aoaaoaaoaac c


a
",
s
p
Ps


x
s

a

3

E



9r
pao
.e a
111111
iPa
.B

ai
Ld0


4888=8~8
~=0~NN"8


coo


~m~5~"~~a =~so
O. OIXIS
~ xlln


~2~~X~55~8%





~~P=ss~~O


a0 5


Si


S8~S~IP:




~14FXRa

1~Ii~~~l
%"
iff


Aa~~=
XS~X=
%"~,~,'A
iff


-I M GO
-i ^0 fl
-i 0 fl
W W W


d d
'0 0~


""11 =8


~~ll ll cl


mil 2
Q 0K KK















en?1
4~ -


i/ o o o e
r- 1^ o o

o" .-" i" ^" CT







e~nQt- -
o o o o -4




en m oON














oo 0r~r~0
r


o o o













v3 o m g^
o-^ r r.~
CT n ~ ^


"" '
m ^ o .i
















0 0


01 01 \Ot tb
m '- 6






a\ ^r o m f
My^ vi


o e o l i


SPa


0 en 0


- 'S


ya R
y3 N y
8 ^ /


~- en
00's


21 -


co o


sTh~h

0~""




0 d ct


0 0 0 Q e Q *
o en -


o8
^ *
F-i
^ i


o 5 n


01 en 4 ( E; i
'? 9 s? ^ S F- 17' ^!


1 e o ,


0 t0 0
t3 I$ I
sa .& ^( .


0 0


K ouh


01 0






o r oC ON




o o o0 a
-~sa f
8N6




Itt l

Hal i ^1


2



.i2


~ m a m a~ v~ 3 m o ~ m 3
~ ~ ~ ~ ~
3 - - 3 - N N


1-- *-
.- y


X"~X
ij,,


c


F, E
6


m
~
6


- oo

oo
^r


Sm
io m
m r~~


fifi~~~;"
r--~nN~
3~~3c;
a


% C; B XAa
s -. E9 ~ v? r- Oi rl
mpamv~~
m 3


e
| a















014
N ,f


N oi e


2~~ 8 8 8 8 8 8 8 8 8N 988 8
S o o o o o o o o o oo o m
n I r E n ( E m I r i N i


So 0 0












o 0 0 0


oo o y3 .-
o 0"
00 6- $3 ^
s" ^ ",
-' r I


m" w d o


i/ 0 i^




i/^ m ~



y3 m I



a- ?r ob ^
^r N I I
SN O -i


9^0 t 0 00 T 000`












r- C oo y -
~~ 4
"^ 7- r- m m ~- r~ ^
^ ii 'i ~ i T^ K ^ ^


- N o o o


~o en c o r" e


IN IN Qt 01iN r o
-I D en 01 en


r^ 3 w ^ ^ ^


eg


01 ( ON O c
o o 't -;


&
l0l0


0
0 0

Y 3


0 4

0 < 0t
. ^ I
=3 'S jr


t m




2 0




0


I ll H
^ *s' s "0


10 o


T h
"5 Th
Cr05


t a
it it


^^i B S


Po-r
0pif a Cj


-TheSta e oflor'g 1


I e


^s
,u u

|^|'

-


$II


r vO V~


"o 5 5
> U 0u


2o

~i2


i~
ij, ,
v~m N


~MM'
m
~m~v~


$~X
M O $ v~
o o d o v~


'~ MMP 8;
o o d o o ; o


g R
io
io




p~ ~









8 ~
a,


~? 6 G; M M m
m CI m m m
m







a 8 O S: s 1 6
0` 0` 9 0` 0` 0` 0` 0`


2~ 3 "
m $ M v~ 1
3


S "


0 .


P X




6 fi
~n


co


M 23
m


y3 f


,g



d~~
FrUZ















~en0
Xe .Ra


e 4







014


8 8 4 8 8 ^ M P








0 O r 0 O .0 en i
o o o o oo o N
r~e


0 T h O O i O 0 h I I
N 0










0o0o 0 0 o 6 0
ffuuua Q fup-u pl uMu ^


ft I I

Th Tu 0 O h0 hS






a


o1


~ ff00


- iO O0 ^









So om o c o
0o 0o


0 0


ON


e i


o o
%'S


43'^


88 fi
- 0 1
8 = =


r~~ oo |~


m -


0 o 01 (
01 C


Qt i


ThU


Th

0


2

5



'sr

g S


mU








3
cr




i


=?
8 S
m ri


B k~
In Nij


r~~ i/^
IN 00
IN m


~~ooo








~~~~~
oomo8
ooood


G-i 0 f


Fn o o ~ ~ ~ o

X~
m m


cod


v~oR
ood





~OM
m n


fI m


"fi 5


00 00
C^ ff\


0 0 !
0 0


\d c


88~4~
aaa~~
R"R


~88
~R4


8 8
8 8 R


8 8 ~ M fi
8 8 ;j ~~
ift


8~X
X~O`
Fn E






ON~






8PO'
~A





"fi~
or-v~
N N


a8~5:
a a a ~ a ci
m rr
n n


~ ~ ~ ~ ~ ~ ~ ~~

d


S0


P


M





o N\D
a~ oNN


888fi
8 8 8 6
m
R


o a:
"A n
a


" " 8 8 5 8 B
d


ms -.
=;6 s


a


'D~s
m3N~


0









-TheSta e oflor'g 1


en en Qt^ >
en ci ~;~
m o IN !o
m m io ri






i^ o. if^
S
i/ /^ V


6 h O` R h ~ h
o o o = o o o o o m
o o o d o o o o o o





;j


Ci ci
t'


0 0 0 0ON 0 t


0` 0 0





'T m o^ ^
s:r~ 0









s "


0 0 0 0 0 Oi i


en r- en -T -T -
e ( 9i ID C OI ::




c o c c o al i
en eni C- i en -b Ci ci. ?o


o 't r-


<



0




a ^






S o
i |










$i
,-I








Slill




c











E-
1







..
.=.
cd 0

aU


S 8


fil 8 .
auaufuou


0 u




III


N8 W
N-ri Ci





8
M. s


N\o~ioa~
m-mm~





M8888
Nr-~n
"~M~~


SaP

ct
n n


~a~-~m
4"~,


~ a a c, % ~
G; ~:"
N^
FA


F; S:

00


8 ~ N N
v~ Cj ~
N


,,,,,, ~
-' S



















0 o-to oN--3
- 00-00







N\ 0\C\o\'\C \ \
0 = C= C= C=


0 0 'i -' c- 0 i 0 m m
00 00 0 0 0 0r



Cl mO r m N COZ 'C 't C, 00



0\ \ \ 0 \ o\ 0\ 0\ 0\ \ 0\ \ 0 \ 0\ 0 \


j0 j0 j0 j j -,
0N 00 0> 00
0 C. Co\ k 4
0 0 C.; 0 '-i^


C.;0 r
Cc -t C
r)C'Cd
r) 0


rsi Co 'C 0> -- N
o -iC C -t ir-
0 0 C= 0 -


C= C = c Cl
06 C 0o0o0^ 0^
rs" ~ s
'N m O- t< s
o rs o of^


'C -t -t C.; ZC
rsN CT O r) o
~- C i rio
r-i r~ ^irs
3w w
/A


'o -i C O

C; N; 'C
- Cl ,


CI






C-


H










Cl



0,-B




C






H




o .

-5-~.





C


CT- rs io in r~ O\ o rs \o
in Ci c in N O i N '
- rn CO rn 0> ON 0 COO
rV- c44 4 -- c
P- r iClN
t N C, C, =


C.; 0 -t -t COrs
o Cl -t Cl 0 O
0 0 ; 0 d -i


o o C 0o
^* i0 ID \Q
-i 0^i <0(-
"- 'Cr)m


rin 00 in CI 00 'C I
o e C O 0 0
)n i l0 00 I 0
r~~i m m r~ t~ o


C-
C







o
H.=
0



a,






I



Ct 3
2
L, 3r


S- -COt C N



0 C l'4C', C.;
Co= oN N
mNbt0>. '
-N--ct O
o>>- rn i 0o
rs o *-3r ^ 'i r;






Clir)C.;- en --
'C-OZa\ Cl









CO Clirl) 't




OC.;0 -.j 0\


COm0t\l N









C,
o r oo



0 r- 0 'i 0







AOOO



rA
oo o


A" C







con
mE" a I z








i



< c






I I


o d ",


o , ^


v0 Cl Cl
o rN'Cz
r-~m ri o 00
^ t^


c"h4 r4
ma r


o = \ 00
00 C l tC
" ""o


men o-
"' ri


rs ^t N -i C ON
0 rCN r

-i mr '0


v- Cl -t S-
0\ r< 0\o
0> C. 9o ^
3 lO


00 0 00 e> ON
11r- o O
N m M ON
CA o(
-r O\









aon
^ o
o
g 3
5=u
C^ c,0


CO -t Cl

W 0
&^o


C






4e



2-3 -
=5- 5

S ^ -s -
m '
d^ 's
3m~ = g










-TheSta e oflor'g 1


0 > O O O0 O O O0



= o mo = r-


Sei
00



~o












C,C
iCC

i=d
LCI

C-
H





C








H-














o .
- o-~.



C-





H



C




C



p




- s



i


m r-- N0> 0 'C0






1= 't cfl N > N m00
0I 0 0- 0 66- -i






0> 0> 0> 0> 0\0>0\ 0>0>0
o~ ~ o o -







14
0> 0 Ic 'CNlz mC m
- 00 0 0 000 r C,



ll ll VMSdd
(fl 00 C 0> t m~~ 0m

C!00 C N C-
N\ o 0n Cl -ClrSn Cl) 0l _
0>- 0o ^- -o Clo N rs t'C0






*- *- 0 0 0 0 00O



r-t o 0> <0 'C l 0000'- r)'^"
r<) rs ^t oo rs i oc s 'i f
o\ o in -i rsr~ o\ ^t







in 0 i N N00 0-ei





n 'C 00 kn '\t r-01f
-o r C- l o ClN e\ --r


i* i Ti o r-~ oo
;- id oo 'ri dt ; d t;^Oo ln
-i in d* o -i f OC r<)o\
,, 'n *i rs rsA &^M *i 'i
FA A AAA F f ^A 6f


mhl'f m N-
-t0 r 0> -vp v
0'-o c' a-s o' '




mo ei m 0
r) rsin -) r-t











-t n 00 0>



r> 0 Cl o


0-ri o6 6
l ri -t -t










--tn 'C 0
-tON m -i
0 0 Z m- *-


-5 rt Cl r m
o\ oo i s i
0 *-3m 0
ri ^fi r


CN oCo- 00 Cl qs
in 990 '9 Cl C
0 -0.4o Cl *- Cl



N C0 f -
00- CT '- ( 0> 'C
<-- -N -0 r i t
oo < o r< \ <


-t m-'o
N- 00
0 --





00 N-~ 'CN1
0\ 0\>0\o
i 113


N"mo

NO 0 N




00l 0>


rs t -:
- oi









C- 0>


'C -t 0s

00 (f ri


-s ri ^
*- ^ ^


-i 0\ 000N Nt. i ( 0
00 10> Cl N 0 cf (flN
0\ 0 t 0 r) 0 m r m l'l
Cf -n" r- l t "
Ic C, N '


- 00O n o-, Cl
N~ i-tn mon\f r-
0 -0,4 0 0 0


J J
-0 "p
hi i rs


't N 0>Cm = >q r -= C, I
- = ri ri 0
rs '.oc o r' c r- ~ s ^
C IC ^ < lrl C, lc -i 'i^


C,] o> 0e -; 0 c B M M 25
n n

rt r- ^> <* <
I C S
-E C, I C, C,.





s1 i i I g -1 $ g:


< a 0 l a 2 2
" a 2 M 2S A A a h 3

25 C, o 2 ,d






A o 2 | | ^i I 0^ *I


C, QC 0,
02 <, 0 H
E 2 4 m.
C, 0A B C) C, C, C
, u 0~~ .~ .~


m 0\
r- -i
r- 00
oo r-



















'- t C, I0 C,- 10



- r- 00 > 00



t-~ o tr-~~ r-~o
o\ o\ o\ o\ o\



rs 1or^o\1t13



N O0CN CN 't
o oC= C0 C 0
Cl 'C O -t.
Cfl 000 0 N


Sei

00












a,C











C-




LCI


,-.

C










o .


-m-,.




Cm


vO vp v v
j^ j^ j^ j^ a'- 8o^
o=oo o
0000 ON
0 i0- ; \-
c


N 'C m b -
N 'C -- N I
oCoC oo 'rC
- c Cl -
'- & r i


o NNCCNoo ON 0
Coo oc > e
'C 'tN"O N



d- d^ '6 ^ d-o o(



ot o C C< C 0r 0
-t 00 t
o o o *io ; *^
0 00 0
Cl c= = -en


oN r --o o
r~- -i
N"


= = m- N 0



C= C, = m N C= = m
0 0 -0i 0 0











* C * 0 0 00 n








0= 0 0= C= 0 m N C= m


6N 0> 0^ 6^ 6C 6 0> 6 6'C 6C C
0 ol 0 qs 0 0>) m~ Ns 0 en




= = C= = x O ON
oiooooooooo




















0 C=0 m N C= C 0N O
P0-000600009 (C








'C 'oC 0 oo o C 0 mt No 'C





o 4 r o C r r - o4 f/
&^ N &^ C Cl &^ -i


0 nC= C= t N0 'C=0
rs N~oo ^r s oroo < m
rN- -i C tC m r
ri






o -io C C C C C C C C

oooooooooo
o t 0 -- 0o r-t -t mo Cl 0 0



0 Cl -- 'C N > 'C 0 1n 1
-Cl s 'C l o


c= c=











= * CC CC Z
0> 0> 0> ON






o~ ~ ~ o\ C\ C



Cl d^ d- 0^ Cl- 0^ 0^ (fl ON
0= 0= 0= 0= 0= c= 9= c
666666oro^





rN 0 t 't 'C r- N r-
rs (fl 0 'C 'C C 'C^ ^o o






6Cl -c -1 Cl0 0>









N- rsi '-t 'i (N O l q r i)o




rs Cl 0 'C^ 'C '- 0> oo
www wwr^ dx

w w~;


Cl C= N oC oN C r ON
N oo ms fC,








o o C C C C C C 0
ooooooiOo
0= -o -o 0 o 0 CC N
0= 0= 0= 0= 0= 0==


N~ 'C -- 'C Cl Cl


in oo o
000

N0 'C 0 1'1




00 r-~ oo
CC CC 0\ U*\




0> 0> 0> ON


os o C0o
000













6oooo
N -~t 'C N>













N - ON




rr -i rsi
r' Cl 0











00m0
N t Cl en
- t N~ *- &^ ON







ww 3








onr o C 0





rn99lr
S0oo 0


C0>0 Ci m 0 =0
ClC=~


^~ i ^ & u~ o U f
25 d~o5 ~ C m
oQdrS2a~s.


C 0 'C CC ,
oK o KKo
*- y^ rs -- N>
& Nrw
'A 54A


C








ECX


p

- cs

ErTZ


~a


rI I









-TheSta e oflor'g 1


't 0> 0 C t I -'














0> N= N o m o '= = m
o a 0C C al C0



66666co6i


0


> -e














































^3 (uE
S0M














































sa,
>on






C,

iCC
3^





i=d
LCI
C-

0,-
r






< .|
H-














o 4^




o .
-1|








C



H



C



pp





~rT



n
d^

'5










o


U











^Im
= s-"


or- 0 o 0 Cl 0>- No
o a a a ia cn a ,i
io o o or^


-t C 3 Cl 3 -
'C Cl 0> l '
Cl Cl- -tN
Fn Clnnh


f- C t




o 00 o -t -t '-t N

ol 00 Cl N- N- 'C-
N\ 3 Iu*






Cl 8l &-t N -t
4





~F











0 ^ ^ T35m
% 3 1 ^|
Q0 S SS S


-t c<) ID 0> 0> 00
r- 14q o= o= o r
rN N t r- m
&^ l C N 0>
S


















o o r No
8 -dd-d


OO O 6~
o *_ 00 0>*_ t0Ni3
- 00 00





00 '- t 0 '-^t I
N\ *- 0 0*_ C>oZ
CTi ii ^ ^0


Sei
0
























































'm
~o













a
C


















































20
l-





































_mot
s g








0,-,
H-





Mc





















o .M
3ie
m












C
Cg


Hl




















C








C
4.
m



d^-




Sa
r r










co


I

EI'



IIII



























'I :C
r
I

1 O


^a

4^
0


C, o= r~- C,'i t oC, m~
Io o o= r- =

Nl c N 00
r= r oo






0 66 0m 0 0
o=o =t =oo =


l Co=0 =00== 'C 0 q C000


N n m0 C 0\ m r0- N >0 1o
r- Ic 10 C, x C


io io io o\
rN CN >
m 0> N C


00 m




N C,-

Naoo"r >



0l 0> z^
'C'C on
0o>oN\
CT-; r


jO jO jO jO 1
-t Ci i -
00 e 1 1
0^^^


00 'C '0
-*t m<- i-
i-N
FAt^


-t C> -
00 CN e1n-
0 '- i 'i ^


o a -t a 'C -i
o 'n 0 Cl


o o r-^o o(-


0> 0 0> 0> 0
'- '- m< m< -t u*l
&^ Cl 00 -*t --i^





o a -o a 'i *-








N 0 -t 0 0 q-i
t-~~ ri -oo n /



0\ 0 0> 0>
'- C-l 00 -st ^
m en
&^rsoo ^ *i
rsi o *i
&qR^ & i


0= C,' CA O= CT' f~ i
aOri 00o>o o N-
N 000 '= I
00o \ 0.nm)o>o
o" 5c4 0 0o"
n 'C CA
CA


0 m0
Cl0>,

Cl ,


ClN r~ 'C < S-
O
0 <0 n 0 f
*-i TlO '- o


N N m 0 0 C= m 00 N o o-
m X ~ -


0 3~ 0 CJ

-4 ~ C,
d I I
r^ r 3 ,
B 05


Do 4C nC
e AOO


00 0\ 00 Z
0> 0> 0> O\
; o\ N m


C, C,




Ci
ap vp vp \
0> 0> Cl e


N t 0
^ -t 0
0 00 rt-
-t Clf -^


o\ O\ s (ri
o^ o i \C
Jl J J
0> 0>C, e


N 00 N

r- o i
0 00 rt
-t Cl '-


0\d P-I 0 1/1

0\ -





0\ "n -i 00 m
-t N mrNe
0 0> -H -n ri








qn 00 0tmo
qn m 0t(1
N


5


a on ;-,
-e
o C



0 C I,
a a t


i-N
r< T /l










-TheSta e oflor'g 1


m rN- 0 *= 0 m m Z=


0 m.; '-6 c. rm -t 0 c.= c.m -t '1'
00 00 00 00 00 0 00 0000
0> 0> o\ 0> 0> 0> 0> \ 0> 0>0>


.2 -e















C,C


=
C



i20









LCI

< .

H



o .
- m-~.





C,


0^ 0 -
w wN


t Cl t N` N` Cl 'OO~fl
N o .\ 'Ci r0- i nN
io io r~ v; o r^ oo rs
SN- 00 w Ns ClN0
W -t Cl N W Wl


N C, c m N ~
So i o Co Co o C o C C i
N 0 0 0 0 0 0 -


c.; 00 ri

0 -


N C. q r r> -o -ooq N
io io r^: v; o r oo rs
- r- N i 00 rN- ClN0
n -t iNC


C.; m0 r\ -t 'C
00 Cl oe N --i
o '- S "vi r
0n -Clef q-I Cl r{
-< -^ 'Ci C.;
C.; en -D


r- 0"
= C
ll C


00 C.; 3--I
00 00 0*I






io o C C C
O 0 0t
0 -i i0


C o i r- 00 00 rN N i 0 n q m
n in 00 00 o 00 0 > i o n 0
- i o 'C N Ci Ci i -


0 0 0g08


-" $ C
oa ^ -,C C
F, CC C pu QC
C, i C O C,


o~~ <0 .a 2 C


m a" s <;
-S -1 o 2 A
ga Q a, "
o = Ai
s$ i I
0 p

0 U < -e S < ff

o 0 A 1
a: ^ ^ I I ^
A I f 0 I ^

c, 2 2 2 a
-d 2d 2 C, C
H2 55 d


< ;
M





<






0 H
C3"


r~- r~- r-- = o= o= f2 m
r~- r~- r> 14o O-i oo .o
N NN 0 0 0 C.


'N N qD I00 0


0000 0 00Z 00 00







i- 00 'tmm -


r- O>
o o\ "\ o o \ ior o\








00 Olr Clq -t (
aK1 0e 'C ~- i ~
- -ri ^ q" C;O -sv > ^





C N t -m, 'T




o Cl0>. m l o
OO 0 -1 0 0



00>0 0\ OC; N-
W K o n &s 'C
0 flt cN 'l I l
r<) o C\ r~ ^-\ o ^





o v-i in r~ n O M





o-i r- rr) Cn o
-c. C m 00
*-NO 00 O trt C.



0 0N 'C^ 0~ Clll ~
o ~ ~ oo ^ < i

o~ o o rs, '- f



ior nf ^ *i^ ib n
00 i 0 s Cls 0^

r'CI 000Z0 -
C Nlr


ONl 00 \ 0> m N r o O Nr
S0 1 0 C 'C 0 0 i
(N 0 r *- *- 0 *- 0 0 0 0 -;


H



C




C





- s




'"
e


'-t~l~ qn qn C.
00 Cr 90 'C < 00
' it o 0 0



















.B0. m



t-~ 00 O




0 0>





S O
c o m e, -
mioi~n


C~s











0,-.

0i


< .

H$








mo
"-e





0;3


o o
rn 0- j -
OOiOe'i N


oo rni 0>

NN N
r n '
&^ 0
w










0\ 0\> -

N


o o 0 0 0 0







C, CC '
rn o





0\ 0m0 00in
r<) oo *^- *^
f^


*^ q *^ rn *- *- *- *- *- -







r- NC











M 0, C= N C= N N NC C=rn
- r- 't ''










0o 0 0 0^ 0 0^ 0 0^ 0^ 0^ 0
r 0 o rn o r r- -- -







0000000000
r i 0 rn o 0 3 N '- o -
Sro o oo

*-i rn rn - A '^ 0> 0> -




6^ ^ 6 6 6^6^ 61 6 61 6 C





















0 ~00~0000-000^
ooooooooooN







o rn rn rn o N
Mr C C= M = N Nd =-






Ic C, m WiD






rs n ~~ r< r t C, -i < 'I,




t< C, C, S r~ ^


Cl m 'ti
" (CC





CA
6^ ^ ^ ^ ^ ^ 6 6 6 6 o
it N O t <^^00\^ \
d-irs o s 'i -10 0 ^-


o O O '-^ O O O O f


O )^t' -i ^tr) < S Nl


= -* m = r- r-
0 0' 0






* * NC <0 3 t



o r ro 0 0 0 0
0 o\ - CC 0\o





















N t C, t 0 n '






cp tp YpY p C, tpYO-
i i ri o
000ln0000












o- 0~ ^- ^- -- o CC< 0


- 0o o rn -t -i 0> '-^ ^
NW -C 0 Wi0 '






- rs rs '- n 'i o o








*- o Ns rn- ^ '- 0 ^- '
r -i N- rio n o o^



o o 0 0^ 0t 0^ 0^ 0-






-o -- o~ -s 0< 0> s o~ M




* *- 0o 0- N c '-i 0- o
OOOOOOOO0


r- r- r- m m n
in r-N OC C > r-N *_
000 0







o o o0 0 0







oIoc Cno







ir C, C (N N O

J J.
S000r 00 o

















rn C, C N O
oni or r0 0
C W 6Nt i 0
0003 00






mhcr NO>
NFSjA /A0>


0> 0 0 C\
l00 f-l
O N '?


o 0 0 c 0


NC C0 Ic O m 0CC = -
0N o rCrn r, m


i, D, &* > ^ ,** ,.
r r
r r0



-8 4 0 -
t| t 0 l C C O 0 O CS
11U m UU 110 ,1

o.3 =i -H fl t >~ T3 1 0 td .
iS~l ,i|^^ 35fil3&


FA 0


tt t
0
, 0 4

-s ~
C o
i


0"





0















Sr~


m


oUE







a|
0













0
g


0
a












a,
U


o










-TheSta e oflor'g 1


C,C,





C-







0,-



C









_o .















LCI


C" ""fl
^ o d



C0 0










o0 o0 0' 0' 0' 0
Cfl (N 00 '0 (N ^





0c 0 't0 -
N 0 cf 00 0 '0



cfl 00 0> 00 GO






















-= c= c= '= c=
o-~ o 0 0 0 o 0
m od vN 00 'od o6











0f 0N 0' 00 0- 0



N~ 0 cf 00 <0 '0
0f 0 0 000 GO






'0 N 0 0 0N -t





o~ oN 0 0 0 0-
o o- 0 ( 00 0 ^0
0 oo0> Cfl o( -




m ~oo













-0 c- 00 (N ^t *









00 CT- r< N^

0 - 0
0~ 0 0 ^








ca o a C
| g u 8














(3 c=u C
'A








































C
. . . .-
ooa~,Nz


C
C




Oe



.u~
(I)





Table 5. County Affordability Index

Metropolitan Area

Jacksonville, FL MSA










Miami-Fort Lauderdale-Pompano Beach, FL MSA






Orlando-Kissimmee, FL MSA








Tampa-St Petersburg-Clearwater, FL MSA








Cape Coral-Fort Myers, FL MSA


Deltona-Daytona Beach-Ormond Beach, FL MSA



Fort Walton Beach-Crestview-Destm, FL MSA


Gainesville, FL MSA




Lakeland, FL MSA


Naples-Marco Island, FL MSA



Ocala, FL MSA


Palm Bay-Melboume-Titusville, FL MSA


Palm Coast, FL MSA


Panama City-Lynn Haven, FL MSA



Pensacola-Ferry Pass-Brent, FL MSA




Port St Lucle, FL MSA


County

Baker County

Clay County

Duval County

Nassau County

St Johns County


Broward County

Miami-Dade County

Palm Beach County


Lake County

Orange County

Osceola County

Seminole County


Hernando County

Hillsborough County

Pasco County

Pinellas County


Lee County


Volusia County



Okaloosa County


Alachua County

Gilchrist County


Polk County


Collier County



Marion County


Brevard County


Flagler County


Bay County



Escambia County

Santa Rosa County


Martin County


2003

158 14

13785

118 82

10830

9952


83 26

75 78

7714


10427

103 75

10842

12057


12223

11296

10222

108 17


9669


10955


13377


9428

141 89


125 35


7457


10240


12451


12524


10689



13064

131 91


78 39


2004

13263

11763

10670

101 00

8629


6783

5936

61 93


91 12

88 97

8647

10936


10254

98 13

9042

9406


8668


9546


108 88


7976

105 12


10851


6033


9348


101 52


101 65


9023



12025

113 43


6431


2005 2006

10624 8792

10650 8633

9731 85 55

88 21 7483

75 00 63 35


56 33 50 74

49 69 41 62

50 82 47 67


71 10 5950

70 09 57 49

65 80 55 73

85 27 73 79


82 58 65 79

81 91 6896

73 62 6013

8201 71 81


66 91 59 72


78 48 66 23


8772 81 90


71 35 61 31

92 63 82 66


89 49 66 49


47 85 43 48


83 66 68 02


78 55 72 94


7818 6479


74 46 70 48



10324 9716

86 26 85 96


5649 4961


2007

88 00

9347

88 97

7729

71 83


5235

39 75

4906


6474

5974

58 37

7782


7748

7257

7059

73 55


65 46


73 34


9039


63 18

66 17


70 92


4646


6943


8299


75 71


7499



10049

9048


5551


2008

11332

11424

9995

91 06

83 39


68 29

4697

6844


86 81

8281

8654

9730


108 01

95 52

10022

9733


120 81


9412


10207


71 45

92 70


8646


6636



91 09


9437


93 22


8634



11790

10647


75 13









-TheSta e oflor'g 1


Table 5. County Affordability Index (continued)

Metropolitan Area County 2003 2004 2005 2006 2007 2008


Punta Gorda FL MSA


Sarasota-Bradenton-Venice, FL MSA




Sebastian-Vero Beach, FL MSA


Tallahassee, FL MSA


Northeast Nonmetropolitan Area


St Lucle County


Charlotte County


Manatee County

Sarasota County


Indian River County


Gadsden County

Jefferson County

Leon County

Wakulla County


Bradford County

Columbia County

Dixie County

Hamilton County

Lafayette County

Levy County

Madison County

Suwannee County

Taylor County

Union County


Calhoun County

Franklin County

Gulf County

Holmes County

Jackson County

Liberty County

Walton County

Washington County


Northwest Nonmetropolitan Area


Central Nonmetropohtan Area


Citrus County

Putnam County

Sumter County


105 68 8398 65 21 58 16 6669


10644 88 70 68 26 6843 7072


83 21 6700 5489 4979 55 89

100 26 8608 6971 63 25 7061


14411

13662

113 06

111 50


113 02 10200 85 68 7936

13351 10241 8437 7366

95 65 9043 8154 81 96

10025 8784 9499 9900


10971 9327 7795 6666 7030


15797

12799

14929

13600

13272

131 26

185 01

150 16

173 29

173 32


182 15

45 57

6749

18339

155 75

138 14

55 46

163 93


13745 11669 95 84 10214

10200 9023 7337 7695

10710 9077 10099 91 54

11440 11653 9718 10419

156 13 9662 8503 7354

9450 8200 7052 7497

135 71 13567 10768 9805

13205 9545 8095 93 81

13449 11907 9948 138 34

13096 16032 91 55 8804


13766 13873 12208 11379

3274 3292 31 98 41 32

51 25 4739 6418 5917

17260 16013 14484 12997

133 34 12569 108 53 9986

193 60 19240 9258 9791

38 94 33 22 40 08 43 41

138 21 115 80 11001 10004


112 91


10527


7428

8028


93 22

8427

90 18

115 25


91 54


11240

9667

131 54

165 94

9497

9644

14099

10059

135 04

109 05


10961

5062

5666

14987

109 17

103 73

51 82

120 78


135 39 11002 87 16 7438 7902

146 83 121 80 9908 8347 86 13

9956 7596 6926 6010 61 65


South Nonmetropohtan Area


DeSoto County

Glades County

Hardee County

Hendry County

Highlands County

Monroe County

Okeechobee County


14824

160 05

190 14

17684

141 62

41 83

124 89


12776 8048 73 15 7712

133 26 10534 7859 7971

15275 14630 11284 9320

12279 9001 6958 7595

121 22 8844 71 88 7672

2929 2428 2484 2650

98 84 85 38 6970 7779


10904

101 80

113 24

99 82

9706

3452

9447











Table 6. County Affordability Index and Rank
County 2008 Affordability 2008 Rank
Hamilton County 165.94 Most Affordable
Holmes County 149.87 2
Madison County 140.99 3
Taylor County 135.04 4
Dixie County 131.54 5
Lee County 120.81 6
Washington County 120.78 7
Escambia County 117.90 8
Wakulla County 115.25 9
Clay County 114.24 10
Baker County 113.32 11
Hardee County 113.24 12
St. Lucie County 112.91 13
Bradford County 112.40 14
Calhoun County 109.61 15
Jackson County 109.17 16
Union County 109.05 17
DeSoto County 109.04 18
Hernando County 108.01 19
Santa Rosa County 106.47 20
Charlotte County 105.27 21
Liberty County 103.73 22
Okaloosa County 102.07 23
Glades County 101.80 24
Suwannee County 100.59 25
Pasco County 100.22 26
Duval County 99.95 27
Hendry County 99.82 28
Citrus County 99.53 29
Pinellas County 97.33 30
Seminole County 97.30 31
Highlands County 97.06 32
Columbia County 96.67 33
Levy County 96.44 34
Hillsborough County 95.52 35
Lafayette County 94.97 36
Okeechobee County 94.47 37
Brevard County 94.37 38
Volusia County 94.12 39
Flagler County 93.22 40
Gadsden County 93.22 41
Gilchrist County 92.70 42
Putnam County 92.48 43
Indian River County 91.54 44
Marion County 91.09 45
Nassau County 91.06 46
Leon County 90.18 47
Lake County 86.81 48







T-t e.oFordason,2 1


Table 6. County Affordability Index and Rank (continued)


Osceola County
Polk County
Bay County
Jefferson County
St. Johns County
Orange County
Sarasota County
Sumter County
Martin County
Manatee County
Alachua County
Palm Beach County
Broward County
Collier County
Gulf County
Walton County
Franklin County
Miami-Dade County
Monroe County


86.54
86.46
86.34
84.27
83.39
82.81
80.28
77.63
75.13
74.28
71.45
68.44
68.29
66.36
56.66
51.82
50.62
46.97
34.52


49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
Least Affordable

























0) E
(fL


o) O







-w
IL <






































rt
o
a0


















^3

S "







Q ^

Lc I


Sl2 C t t ) t l 00 m l 00 C C 0 0















S t t C 00 0 0 0
S00 t t t C CT m t -




0 Cl 0 t ^ O Cl N 0 C N 0 0 Cl 4 - C, r N







C DN t 00 0 0 ) 0 0
oor~Q Q0 oi c oi QC; t~' v-i QC; (c
l Cl Ci '-i ( t O ~ Cl 0i ( V C 0 C- 0 0 CDT CD Cl CCD rt 0 C 0
































Dl l CD C C l C C l C C) C








D D D CD C00000 CD CD C
0 00 0 0 0 0 0 00 0 0 m x m 0
't o D 't fo vo f) 'f t


















I 0 0 I J 1 1 I
0o 0
Q U u o n Q o









-TheSta e oflor'g 1


C, W -n
o c


n Co
_






o 00
s^-g









z .c
u2,
o wo






c0























N
oo5
E^-


































C
.t

B










c,
L,





No
r.





c-




08
v0



'"






,00
O
o)





CJ
*;
(^


C0N0 fl) m-] C c C 00C Cf
f N fl l f o N C t t N 't C O N 0 f f 't C 0 fl
'C f) C0 't C] ] '- C) cn r- 't C] C] cn V C ] -1 -1 C) -













0 C] 't 'C N V N V N C] 't 'C 00 C













0 CX
CD CDt CD C N C] D C] C]D CD CD NCD CD N C' 00 c C C C C'

0 C) 00 r( N C M r 00 00 'n 0> N 'C 'C 'Cc c C '0cn C C D 'C r N r CD0




















00 0" 0 ] 0 ] 0" 0 C 0 C 00 0M 07 M M 't 't
o C- C] D 00 v ('t C 00 N (' 'CD c N 00 C C C] 'C cD 'CD C 'CD 'CD CD










C] '] zt zt cn 't 't 't C] cn C] 't cnO 't 'O 'z 't c 't 't 'z




























~ iaiO t.~m g Cs
a~ mb mmlM ZOO CO asj o
































-C







0(00
I- w .o

SLLr ..














CD) O










ao




C -





























o
r-

















01


't C] r- C] N C, C 0 C C









o Nl r- 'tt f l0> ~ C C 0 t '
o6l oR C'S (N Ci 6~ Ci^ Vi 6- C^ CN CO -- O N O~

Cl C] '- Cl '- C '- '- Cl v C] C] Cl 't' o















'6 00 N D 0l 00 C C C
'C Cfl '- C] 0> N~ 't*l 't*l 'C C '*l ~ t -I 'C C]
v~ C]N t -i rfl 0>^ 'tl N~ 'tl '- 0 --













'C .- C 'C '- V^ 't*l ('t) 'C N~ 'C 'C V^ 0> N 00 *-
0> 'CT 0> C] 'C C] ^ 0> 00 -- 'C '^ 't 00 C] 'tl 'C
'tl C 'tl C] 00 -- N~ 'C C 0>^ 'C C C N~ '- c 'l -
0" r N 'C C] 0 00" 0 Q 00"0 0




































C) C) C) C) C) C) C) C) C) C) C) C) CD CD CD CD CD
(- 0> 0>i 'T^ 'Cl ('t C] 'ti N~ CT 00 '- '- Cf Cfl












0 0 t 00 N 00 0 N 0 0 0 0 0 00 0 0
oK o { oK'NK 44 N o N ~i 5





















Cfl Cfl Cfl C] 't) 't Cfl '**"t ~ Cfl C] l Cfl Cfl Cfl Cfl C]



















CD CD CD C) C) C) C) C) C C C, C C, C C C C
0 N N 0> 00 0> 'C C] 0 00 0f 0t 0 0 0> 0>
C C C 0 c 0> 0> 0> N 0 0 0 ] 0









m C, CCr








o z C 0



0 u

C ^ 0 S .a -0 ^ S t 5
u- l & H 0
U i l l l l l l-l l l l
P^ P- Pi -i (Y (l Yl (l Yl (Y (l ^ ,> !> !> !









-TheSta e oflor'g 1


-U2
Ba

o111
(D C ^

LL -0 -70
0)
IL u<




ELL Z
5"






=, -











ct^
0- C, .




0 0
w| n
nlL I









-e 0

























CDl
0
I
rt
F3



S,

$"
a)


;a
cj
*


B
28


5r,





U


ND C, C) fl) 00 'lt "l v N C) w m "fl C) x] 0 O C) "] mf
r] C] C C 00 D 00 Cri cfl C C N 0 rfl 70 00 CC> Cl 00 't C 00 Cl
C o r c'i ^t A 6 5 A 6 6 A c-^ ^ *} -^ r'5) 6*} A* o6 'iA 6-^ ^ o6 o
t'Cl tD Cl fl C] N' D fl fl 'C rf) *t* ND ND ND N^ 'tl Cl 00 ND fl ('t












Cl Cl (N C, C> 't 't C> 't C] V ND 't C ('t ND C N V cfl C C>
D 00 ND 't ND V j- I c n 0 '0 N oo x n m l m fl-
(00 ND ( N r-1 C C C> 't1 V





C] C] -qtC




' C> ) C>) 't- N 'xC N D C v C> Cl C 'tO 0 N t C V N
v~ N~ 'tl C ('t C '- N~ D N~ ND 00 C>^ N 'tl v~ C>^ v~ r~ '- N~ ('t C
col- ( rr) 2 ~ r o oo CT O = ~ r ) CT^ CT^ ^ o ^ -i vi O ~










00 0 l (' 0 0 0 0 0 0 C> 0D C N 0 C> C>0 00 0 0' 0 0 0 N C










o o C C C C C C C C C C CD CD CD CD CD CD CD CD C) C) C)
o o C C C C C CD CD CD C C CD CD CD CD CD CD C C CD CD CD
0 '0 0f 0 m 0 C C0 C0 f 00 C> C 0 0

0 't ND N 'tO N D ND 't 't zt r' ND fl) r 't N ^ t 't

















U 'U U U U, U > ,,
~b~~N ~ ~ ~ ~mb l
- 111 111H i
1 1 ri 1 11 1mNMI m 1
<^ a oa 55 oa a
NN i i




~~~b~ b N~3~~~b M~ O~0












00 0000000 0000 0z0 00000



























cog
-U2 E
M
I C/
| E
a,o



a, .9 te





LL --
Q- 0,






(U S


E d-2
^"B



z aS















CDl
C.


















0
03
oK
L
's




~Cc




Fr,
a







Is

a








as
OO3
o
Un


Nr f 0 't a M a> C, m C D 0 x m N r C ' N r N

a'- N f a> f r g 0 C N N ) 0 C - N











ci A c6 ^ ci c' a> rn 6 c' ci cn a> ci c' n! cc 6
N C C > a a q -0 a> 'I- N 'C) a c N > r 'C C, 'CD a






la> c Cc C N 't ? l Cf rn n 0 a rn cc a> N ^ a> a> a n
00 q ~ -- 00 'Crl N l C l


rN- -0 m x 't Clo







a > C, aN 00 o N C l a N W n C N C 0 'C
C, I 0 't M x C, CD CD0 3 6I I0 s
C) a> cc 't Cl C N Cl a 't 'C a> a> n0c n a >0 0l C) C,














io~ 1111 ioo m ~ 13 13 1
Ina i ~a>cc' I a I N I IIi I C I 'N Cl










CD D C CD CD D C C C) C) C) C) C) C) C)









o a a a a a a a a a06 0 0 0 0 0 0 0 0
Ql Ql Ql Q' col3" "
o rn 'C ~ ~ a> a a Cl > 't 0 0 'C cc c Cl a> C 0 C Claf









ccc0 0 0 0 0 0 0 0 0 0 rn { N 5 S S N dS 6 c >Or ~ S








000 ~~ 56 *~ 00M N ~ o NN








'3 -r ^ ~0

_33 0 ~~ 0
U' -O -~ U~ 2 d zOO Co







-^ 6 0 6 gee^^^^ I


0, I'D I'D t C 00 00 C) 0 Z t CD't 0













- ^t- N 0 ^ 0 0 N N N- 0
Cl 0CD 0 3 0 M 'Cf Cl
't 't Cl - - Cl


4S w.

0) a,
(D C r


5"
a, .9 8


Q- a, .


- 0




E d,-5
z c2






-E 0
















(Cl -
0>i



















0
L.,


'OE
L
sm





*a
I"




$'







TO



s 'a






C1





u


00 00 00 00 00 00 00 00 0
flNN0000 C00 0000
CD CD N o N 6 N-
i~O ~ m~~~~~Nm~N~ En


0 U
*> 0-0 0 *60 0o l S6o6 ^ 5
^ ~ ~ 2 gog( ^ |g

0 o ^- 0 s ^ .3 = (
0= 2-% JU 3 03 O
U 0
U U .2 -- -. U U
S17
ct E u i
O= d ^ a ^-
g. S S s& &^ ^^ >^


- 0 ) 0 m (t (' 'C 't 'C VO '!t Il P 't 'C 'C
m m' 00 N- 0, mt 0 C ,( 0 '
0 C 0 00 0 't N i c 0 C 0 'C0 0
m l' 00 \Z f \ f 0 N1 m Z f f
N; 'C 0 00 00 0 0 'C 'C 'C
-S -S Cl S S

















N r- ; '- '- 'C | - r- C) r 'N N 't 't l" C) N m'
0 O N 't fl fl Cl N ON ON Cl rfl 00 00 0 'tl 0 C 'tlI 'tI:
cr o6 r A r ci A A A r) 5 6 A o6 A oC 6 x C
' 00 'C 00 N 't 00 00 00 00 00 N rn 00 00 N r'


- ( (
o-co
0 0 C

EmS



E .w no
z a)

-Mo



C <

OE

Eoo
z c0




























S





0



CD
*;=







o-




















o


N- -i CON I' I' "l I' N 'C N I 'C x 'lt N- x m CD O rN
I'D C IN'D I'D 00 mt N ' 00 m C- m' t ~ '
SO N O 'C 'Ci rl N N 0 N
cfl 't - - N- 1










C C' 't x 00" xl 0 't I'D CD
N- 00 00 00 00 't 00 00 mt 00 00 CD N- C 't "l 't
CO r(' (t 'tll 00. r (' r Cl 'C N C 't i 'i C rC l O( C00 O N C l 'C oN 0 'C

Cl Cl ('t CN fl f 'Ci C O Ci CN 00) C- 00 f Ci ( ('t ('tN fl ( ('tN ONi











v^ oo o^ C D C^'i ri o o o D CD m^ m-l m D r ^ v o










CD CD CD C D C D CD CD CD CD D CD CD CD CD C C C CD C C C C CD C C C
00 C, O CD x' I0'D N- I'D m' I'D x 't N Nx0 O 0
n 0 O C C Cc Cl ON 'C ON = 't Cc 'C cl C N- n 0
m CD 0 m 0 m 0 00 CD m ON 00 m I' CD m CD m I' 00
N N I' I'C 00 I'C I'C 00 00 I'C 00 N N 00 N 0















CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD
CD CD CD CD CD C C CD CD CD C C CD CD CD CD CD CD C C CD CD CD
'C m 00 ~ 't C D o 'C n C, C, m 00 mN O 'C m' C N C
^D vj 5o ad 4~ '-i 6 D r^oN 'i-5 i r{ vS Sod r{ r{ SD N~ i SD r{
't I'D^ ^ 't^ v 't*l I'D I'D 't*l 't*l 'tl mr I'D m~ ~ r) ^ ~ 't*l 't


















a ^ 0 -i a 0 0 2 ^ 0
0 0S S C 0 o 0 s t ^ ^ =
^ il iM Ng~ l !^! ^ 3! ^^^


































l~ ~ ^ 2 ^ _ 00 -S -^ 0 0
<; m m .m 5 m -o o ;C
00 0000000 0 000 0 ~~0000
M~b~OmM ~ ~ m~b+g +g 3
~~9 ~lqq~~bcc~~o
U U U Uw~~n
mNM~m= m U









-TheSta e oflor'g 1


W



ci
I L U ) <















0
S(c a
























































00~
o aT
























































oCD
CD

















CD
aC
0
(1 ) 01


2u .
Q m^


U) ^p
_ (D0s
S m 0
1"2 c





iS 2
-" I 0 4



rt


o







r~i
'S








.8


C1

gr,




as




5r,








o
SU


C, 0> 00 ] C C, mf m Ccf C C 't r- rfl "f N" ] C
4t 'C l 00 C> v 't ('t C> 0 0 0o C ' 0 0 o N 't rfl 00 0
Sm C '5 t r 0 CD O C o ) & o l00 n C] -0 00
00 00 N 00 N 'C C> 'C 00 00 C N- N N N 00 00 N t 'C N Nt '- N- 't













C 00 00 C 't m N C m x 0 't C m C 0) C) C ] 00
-~^ C]^ ^ '0 0 ', 't 0 'C- (t t N C 't 'ON C C] 't 00 C
] 00 C]C-0 (' 00 C 0 C '
C] 00 (') C> ] ] C]- ] '










rN N 0 ( C) 00 0 C] ^ 't C> 0 0 't C] 'C) 0 x m C C> 't 't
] C C] 'i C> 00i 'CT 0o o (t 00 t C ]^ O N 'tO N- xt m "'zt C> C0 n mt 0' 'C
'C 'C 'C 0 C] C> 00 0 't ( C> 0= C]c 't -r C] 'C Nr ('t 0n
'C N O 't N C 00 C) fl 00 't O C) C 't 00 r- C C)> r 'C D N 00 C) t
~ - ] O- C]^ ~ O] ] C] C] C] -l- O C] C] C C] 0 C] C] C]






















0 a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
O C>^ 00 '^ C] V~ N 0 C]( N^ 'C^ N cfl C]) 0N 0 00 t 'tl 'Cl N 'C^ 0 'C 'C 0
r-r- oo~i~o~m o m ~ ~ O m0
























't (t 'C 'tl 00 N 0 N 0 C> O0 N C C )C 0 t 't N N 0 C] C> C D 00
't fl fl N l) fl N fl N OO 00 fl N N 0 't C, C) N- 'C N- 00 00 00 r N N 00







00 0 0 0 0 0 0 0 0 0 0 0 0 0 0000 0 0 0 00 0 0








o ar 0D 0~ 0*l 0~ 0^ 0 0*l 0- 0^ 0N 0^ 0- 0l 0 0 0D 0O 0O 0N 0 0 0 0 0 0
o>C C> D CD D 0 D 'C 0 0 0 CD ]C C> C) 0 C) C) )0
CD CD CD CD CD CD C ^ ^ ^ ^ v ^D CD) CDl CDl CD^ CDl CD^ CD CD CD CD*l CD^ CD CD







odd Si4~ {N5SS oS6SdSr 5' S S- &

00 C fl IO m1 I, C, C) C, x C, fI fl 't C, 1 1 !
fI' 't zt zt l fl' 't 't f It f z ' It f i 'C







I I I a I 3 I S I I I I I I
0 ht 0 N~ a 0~ 00 00
,,oo o oo~ \ ON4





. m~ C CC f

U UO
































0









U-
_ () 0)





























cD





c o
c ,





















tc
C] m
1" c
I ^*-
^ p "






-" I 0 4












's






'u


c,


















rt























vp


't 00 't C> C0> 0 C> V C> V C> V C] Cfl cc C]
0fl 0 C] C>o Cl cc c C 't 't C] C>- 00 r- 0 0
cc N 'Z rN ^ 0 N ^ ^ ND o N c cc 'z cc C]
















fn) N C] D ('t C] 't 0 't C> 0] q^ C] 0 cc V
00 'C fl) q ~ f q~ 00 C>0 t N C> r- C] 0 C> 0 't

~ fl C] f












v'" -" r" ^ c C] C] 0 ''Z 00 C> fl
0 c ('t 0 C ] C> r- c O 0 N C> 'l N
C>^ N~ Vf 'tl cfl cc N~ 'tl -- 00 'tl -- C>^ 'tl 0 'C

0] C] o C, C, rC] C]- C] C] C ] C ] C] C] -


























0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
'-l N t N c 0 D fl) 't C> C] C> N N
f't f't fC> r D > C D ] cl C > C
rc r- o N & D0 r{N c5 Nd i









N N f c N N N N f C D CD CD CD CD










D CD 0D C) C) C) C> ) C> C> N C] l C] C, C0




















f C C f 1 o
0 0 0 0 a Zu
0 u u 1 u Iu I = 0 a a 0
0 0 a 20 u u u 0 U E

0- C a i i a i i >
b ~ b~~M ~ ~ ~ I ~ ~ -M
mON ~ mM ~ bbN~ ~ ~ a
'~b N~ ~ 0 0~ M
M~~~~M ~ ~ ~&M H 0






The Stateoflorda' H i g 1


The denominator is the annual mortgage payment, multiplied
by 4, because the income needed to qualify for a 5 percent down,
6.04-percent interest rate, monthly payment loan is assumed to
be four times the annual mortgage payment. This is equivalent
to a household spending 25 percent of their monthly income on
mortgage costs, and is consistent with the qualifying ratio used by
residential mortgage lenders. The calculated index of 71.45 indi-
cates that median household income in the area is 28.55% below
the amount typically needed to qualify for the loan. The higher the
calculated affordability index, the easier it is for a household in the
area with median income to purchase a median-priced home, and
the lower the affordability index, the harder it is for a household
with the median income to purchase a median priced home.10
We calculate affordability indices (Table 5) for all counties in
Florida. Our index calculations differ from those of the NAR
because we use the property appraiser data as the source for home
sales transaction prices rather than the Multiple Listing Service@
used by the REALTORS and our median income is household
rather than family income. Our numbers are therefore not directly
comparable, but do give an indication of relative affordability across
the state.
Due to the manner in which Claritas calculates the median
household income, the county-specific indices cannot be directly
compared year-to-year, but the overall trends in the counties can be
discussed. As can be seen in Table 5 the number of counties with
an index value below 100 totaled forty-one in 2008, which is down
from the 60 it has been the past two years, but still an increase from
14 in 2003. Even with the decrease in sales prices seen over the last
two years, these numbers point to a lessening of affordability in
Florida between 2003 and 2008.
Table 6 ranks the affordability of each county. Forty-one Florida
counties had an affordability index below 100 in 2008. The most
affordable counties are generally rural counties in the interior of the
state, mostly in the north part of the state. It should be emphasized
that most of the counties with the highest affordability indices also
had fewer than 300 transactions in 2008. The small number of
transactions is not surprising in small counties, but may be indica-
tive of the level of competition in the market and therefore the lack
of pressure on housing prices.
In interpreting the affordability indices for each county, several
caveats should be considered. First, as a result of the limited sales
transactions in some smaller counties, the median sale price may
vary considerably from year-to-year. This fluctuation in the esti-
mated median house price produces an exaggerated variability in the
calculated affordability index. Second, the calculation of the index
using median house prices and incomes may mask the distribution
of affordability across the various income brackets within a county
or MSA. For example, if house prices in a county tend to be tightly
distributed around their median value, while incomes are more
widely dispersed, then affordability problems will exist at the lower
income ranges that are not identified by the affordability index.
Thus, standard indices based on median house prices and median
incomes are only one measure of housing affordability. What the af-
fordability indices provide is an indication of the relative change in
affordability within counties over time, and the relative affordability
of housing across counties.
Another complaint that has been raised against the affordabil-
ity index is that it assumes that the household has no other debt.


However, many buyers carry some form of debt whether it is credit
card debt, student loans, and/or car payments, and this debt reduces
the affordability of the median priced home. In an effort to address
some of the criticisms of the affordability index and make the
potential buyer more realistic, the Shimberg Center is continuing to
report our new measure of affordability based on work done by Stan
Fitterman at the Florida Housing Coalitionl 1. This measure cal-
culates the maximum sales price that a household can afford taking
into account the cost of taxes, insurance, and assuming the house-
hold has some other debt burden besides their house payment. The
following assumptions are used to calculate the maximum affordable
single-family sales price. First, it is assumed that the monthly debt
of the household is 15% of their income. Second, the household is
assumed to make a 5% down payment. The tax rate is the county's
total millage rate as reported in 2008 Florida Property Valuations
and Tax Data. The remaining assumptions are the household takes
out a conventional 30 year loan with a 6.04% interest rate, and
the annual cost of insurance is 1.25% the value of the home. The
following tables report the number and percentage of single-family
sales that are affordable for households making 70%, 100% and
130% of the 2008 HUD median family income for the respective
county. These tables give a more detailed look at affordability for
different households in each county and should help to contextual-
ize the affordability index.


Real Median Sales Price and Sales

Volumes Changes 2007 to 2008


The 2008 Single-Family Home Market
As can be seen in Table 10, which shows the yearly change in
real median sales prices between 2001 and 2008, the real median
sales price for single-family homes decreased 22% between 2007
and 2008. For the third straight year, the number of single-family
sales has decreased. The year-to-year change in the number of sales
was 15.3% lower in 2008 than 2007, and this is on top of a 40.5%
decrease between 2006 and 2007. All told, the number of statewide
single-family sales is down 61.9% since their 2005 peak.
Figure 8 shows how the number of single-family home sales has
changed across the state. Only ten counties experienced an increase
in the number of single-family home sales between 2007 and 2008.
Seven counties saw over a forty percent decrease in their number
of single-family home sales. Eleven counties experienced decreases
of 30-39.99%, and seventeen experienced decreases of 20-29.99%.
Finally, sixteen counties experienced decreases between 10-19.99%,
and six experienced decreases of less than 10%.
Figure 9 shows the change in real median sales prices between
2007 and 2008. All but three counties saw a decrease in the real
median single-family home sales price. Four counties ( Lee, St. Lu-
cie, Hamilton, and Osceola) saw real median sales price decreases of
over 30 percent. Twenty-one counties saw decreases between twenty
and twenty-nine percent, twenty-seven counties saw decrease of
between ten and twenty percent, and twelve counties saw decreases
between zero and ten percent.











Figure 8. Percentage Decrease in Single-Family Sales
2007 to 2008


Figure 10. Change in Number of Condominium
Sales 2007 to 2008


ajdc'


Figure 9. Change in Real Median Single-Family Home
Sales Prices (2009 $)


Figure 11. Change in Real Median Condominium Sales
Prices (2009 $)


Change in Real Median Single-Family Sales Price 2007 to 2008
n -30 to-442%
n -20.0 to -29.99%
-10.0 to-19.99%
I -0.0 to -9.99%
I 10.7% or Less


ChlngesM l Kl Mbdea ConOndonnm SaO Pnce 2001 to 20W
I 1i ...Sn aS .6..
-30% wO M.,

* to 4.j w u
rn l!ir2nlne
[1 ho Csmlnlia


A-









-TeStof.loida' Hoig 1


0 0

0





N 0




















a y,
o -t








'0
0 -








ov
















] 0`
o -t


en 0^ '0 tl C]
'0 o- 'o -t CC
[^ ^r^ I
io ^ ^o ^o


-0 0



3 C3 U U c

(S g S^ a

^s u ;: g g *s -br
5 >,ES ^. ^ E (9
-^ o( (9 0 -
muQ^-M 0 u


00c C>











o co o







cr en c







- oC ',
o ,o
a00 0







m (NI
in [^ i
t^O\D


0 0 0 0 00 2 0 0
Nd-CC- -C> N
'tit0 'V en CCt






0 5








^fs
000 o g 0U







S" <,



e "f 2

.Ej S: S
Coo~












2/ 0 j
;jO O U UP~P
FF
F 0
0m


ZC




FF
O H (9


C" In -
nd N r
OCC N


C> en
0 -
o tn
o 01
CT\ o



o0
0o


e








co~












enen
0 0













0 0
C]I"

















ocr
rCC]
t~~00
i M



0\ 0\

0^ -


0-^

vo v
0^00^
S00r




mm


iov























0 \
2nUi2
enC.2 cl
en -


t -G -
v>n ^r ^


dc] tn


b0 0
cc -t
N 'd


o o

en -
C i


n& 00
en
m


'0
'ow -iO`0


o~o

o o C
U U U
0 3
eg ca c


0(
(9c O
0

o~ u


CA





0 C 6







E.
S e
Coo
~2
S C)^

SI I







ct ct_ G
Z P. P.
^~ ~ 0
'a -a F F 2
coc) C),


o o
00 0
o0

"C\


S s -t i t -





I II II 311 1 111
o f o a ,f fm


<
Co
2


-g
o ^



c 2
.) S
I C)


mC H










Te-eoFr.da' .osin,291


J J


00 00
00 t
SC]


o0 0 0 0
_~ 01 0
S 8 S
^^Sl


.0 -0 0^ 0 0^
>n o n

M m^1"o r
ofl 0c> i
0 b '0


0
n 0



0 0



0 C




0
S0



0o
o o










-0
0 0
0
r..
ONo


00

CQ)

E0


6o^,^&C]
J C> OC l





C] 0. '0 C> 0 C0 q
Oc r-- V- x

i^ o o o o 0^ '
n C> oo n C> V-





J J
c n (ni O c ^^ 'D '^'


6C\0oWr~i'00
-C]
tn i -. o ^ 1 -, 00






C5 -4 06 06 06 0 i
od ^ ^ tn i^ m ^


o ^ od od od toi d 0


0 ^ 0& 0- C] C
C] -
, C^,C^^ y
SCC "^ 1 3
i ^ S En ^


0$f
Q))
scQ)
0~,


a -
0 2





r- oc m








C'6



J
000 '



-o C >o












'- 0^ V
(N| (N|
o^ ^r


v0 0 v0 0 0 v0
0 0- 0 0 0 O
0. C> t- *^-r C> -
01 ^-r ^ o (^^
,__ '0f '0 C] -Sod
C]--


s C ]- s ;
0` 0` S ?r d ^rno
d i2^M
^-H [< ^H ln ln l


0



0 0
- S o u U(u
^^U U(c Qf fiffiffi


0
"Q)'.
0





















00
* 00
o ci -


'o C, 0 C


o 00 0 ) m o 0
ima c 0oN1c







N 00 C0
^3 od ^ ^ o ^, r


o^!
0 0
0D 0 0
ND


m
S 2cS
r-2r^


0 0 0
cn~~n
.'nND


C -


C 3 ?-5 ^
| I-M EoU g,- g
0 M p0 0=
~~ O Q W -
ao o E
c ood ~"s


0
> O 0
C


ZA


0 0
z O
2 'iNa\


cZ


z o
| -


N ol
d2


z q
N


C-
N


bl Y?
. 0- 0'
<1 l -1


0 0 0 0

ZN oca
2N


a1!^
0 0 00 0
0 0


"0 0









iN









-TheSta e oflor'g 1


zzci


00
N-
0 0
o C]
0 N
N




3r-
0 0
0 C]
C]
-N




00
o C





t 0
(N

00



o C
C]
0n 0




orC






0
(N


(N


00
(N0
0 0



C]
(N





C
0
-I00















o C
0



















C
0








C






C-
Cu


ai a
N> oo
' (
rC] o6
C


zz 1D


v0
ZZ< j
z o





z '
< <
^^


v0


<;< o
s sCT
**- b^ y






bb0
<1<1
i


o 0
-f -g ^ C o rS
CO O 5 C
|~~U I ^ U U II|
Co 0 C g g 0


m E MM
~~~~~- W ~ U ~ t


ZZZ0R


.zzz 0zzt






o 0bbb


o ama
S< < < ^<<2<
006ZZZ ZZ^-Z
C IN C


ZZZrZZZZ


0 60 oo- C
C O
~ ~ ~ U
- $U~0 U C
-U,
d4 -~ .L
1 gru


o O

TU
IIe


2
$, -


FL





r 0
~- ~- ~ m


NC> cn
q~0 cn
























mo 0



^i









o -





"z


o3 0
ri



ND C


od 0^ 0^
o a ~
* N i
- C Cf


zzzttz



00b~








zzzc~.




NDb~


0 0 00 00 v0 0 v0
o"0- 0^- 0 o^0-


N D cni ~ ~


C> ND --
a\ ^o ^o

rf o- od



.i NDt (N






0^ 0^ 0^
0 0i0
Oj00C]
m i1 o ^



t^ ( '-
-*l ^- ^-



c ^




? S ^


06 0 0
1C
Z0.ZZZ~Z
C] Nb m


0 0 0 0
o CT C> 1
"a N


liliiLi
0 00 0 0 IN 0
o~, IN C]C


3 5


- ?- N V,

C>
C]r i


00 0
00 ND







-TheSta e oflor'g 1


The 2008 Condominium Market
The 2008 Florida condominium market saw a 30.4% decrease
in the number of condominium sales between 2007 and 2008, and
this is on top of the 47.7% decrease in the number of sales between
2006 and 2007 and 20.6% decrease in the number of sales between
2005 and 2006. All told, the number of statewide condominium
sales is down 71% since their 2005 peak. Along with this decrease
in number of sales, the real median sales price decreased by 19.2%.
Figure 10 shows how the number of condominium sales has
changed across the state. Only seven counties saw the number of
condominium sales increase. Eleven counties experienced declines
in the number of condominium sales of forty percent or more. An-
other six experienced declines between thirty and forty percent, and
fifteen counties experienced declines of less than thirty-percent.
Table 11 shows the yearly change in real median condominium
sales prices between 2001 and 2008, and Figure 11 shows the
change in real median condominium sales prices between 2007 and
2008. Table 11 shows that the statewide real median condominium
sales price decreased by 19.2% between 2007 and 2008. This
decline comes after a 2.3 percent decrease between 2006 and 2007,
which was preceded by a very modest increase between 2005 and
2006, and points to a drastic change in the state's condominium
market that had been seeing double digit returns for the four previ-
ous periods.
As Figure 11 clearly shows, 36 counties experienced real median
sales price decreases, with eleven counties experiencing real price
declines of thirty percent or more. Another twelve counties experi-
enced declines between twenty and thirty percent. Another thirteen
counties saw real decreases of at least twenty percent.



HOUSING SUPPLY ON THE MSA

LEVEL


Florida's Major MSAs
The four "major" metropolitan areas are: the Jacksonville MSA,
the Miami-Fort Lauderdale-Pompano Beach MSA, the Orlando-
Kissimmee MSA, and the Tampa-St. Petersburg-Clearwater MSA.


According to 2008 Census' population estimates, 63% of Florida's
population is found in these four MSAs, and they also contain ap-
proximately 58% of Florida's single-family housing units, 69.6%
of the condominium stock, and approximately 62% and 67% of
the multi-family 9-or-less units and multi-family 10-or-more units,
respectively. The following section discusses each of these "major"
MSAs in detail.


Jacksonville, FL MSA


Figure 12. Jacksonville, FL MSA


As can be seen in Figure
12, the Jacksonville MSA is
located in the northeast cor-
ner of the state and contains
five counties. Of these five
counties, three are coastal
counties (Nassau, Duval, and


St. Johns) and the remaining
counties are Baker and Clay.
According to the Census'
2008 population estimates,
the Jacksonville MSA has
approximately 7.6% of the
state's population; however
the population is concentrated in Duval County, which has 61% of
the MSAs population. This difference in population is reflected in
the housing supply as can be seen in Tables 12 through 17 which
show the Jacksonville MSA housing supply and the individual
counties that make up the MSA.
The Jacksonville MSA has 7.9% and 2.9% of Florida's single-
family housing stock and condominium stock, respectively.
Knowing that the population is concentrated in Duval County, it
is not surprising to see that it contains nearly 65% of the MSA's
single-family housing stock. Notice that Duval County has a mean
year built of 1978 for single-family housing which is actually older
than the state's value of 1985. The other counties in the MSA have
mean-year-built values of 1993, 1990, 1991 and 1995. These values
suggest that Duval County is relatively built out, and that popula-
tion is expanding to the neighboring counties. St John's County
only has 54% of the number of condominiums that Duval County


Table 12. Jacksonville, FL MSA Housing Supply
Single- Mobile Condominium
Family Home
Total Units/Properties 382,248 32,967 44,743
Homesteads 287,441 21,366 15,613


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


1983
1987
$162,316
$127,258
$194,659
$151,614
$62,045.09
$74,407.97
$238,697
$192.000


1989
1990
$60,042
$53,466
$71,586
$64,560
$1,979.42
$2,359.97


1995
2003
$174,234
$118,000
$182,459
$120,000
$7,795.77
$8,163.77
$222,081
$149.900


Total

459,958
324,420


Multi-Family Less than
10 Units
8,067
1,910


21,999
1968
1970
$202,738
$145,491
$229,832
$158,537
$1,635.49
$1,854.05


Multi-Family 10 or
More Units


77,809
1981
1980
$5,092,722
$2,050,350
$5,095,717
$2,050,350
$3,463.05
$3,465.09











Table 13. Baker County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
Total Units/Properties 3,955 2,158 0
Homesteads 3,208 1,604 0


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


1993
1996
$105,495
$92,410
$130,446
$118,914

$417.23
$515.91
$166,842
$160,000


1990
1993
$52,179
$46,446
$64,359
$59,616

$112.60
$138.89


Total

6,113
4,812


Multi-Family Less than
10 Units


Multi-Family 10 or
More Units


159
1991
1999
$129,415
$74,740
$129,514
$74,740


$0.00
$0.00
$0
$0


69
(*)
(*)
$987,392
$987,392
$987,392
$987,392

$1.97
$1.97


$5.82
$5.83


Table 14. Clay


C


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


Table 15. Duval


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


county Housing Supply
Single- Mobile Condominium
Condominium
Family Home
53,389 9,399 2,328
42,394 6,460 992


1990
1993
$144,929
$125,443
$168,510
$143,678

$7,737.63
$8,996.58
$216,050
$190,000


1990
1990
$55,867
$52,512
$65,624
$61,864

$525.09
$616.80


1997
2002
$88,686
$80,483
$91,676
$82,388

$206.46
$213.42
$124,160
$111,350


County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
247,640 9,721 25,079
183,455 5,480 10,472


1978
1981
$142,966
$115,737
$175,742
$141,826

$35,404.15
$43,520.67
$207,676
$174,000


1986
1986
$54,740
$44,242
$65,331
$53,595

$532.13
$635.09


1997
2005
$146,207
$113,300
$154,652
$115,500

$3,666.73
$3,878.52
$212,739
$145,000


Total

282,440
199,407


Total

65,116
49,846


Multi-Family Less than
10 Units


Multi-Family 10 or
More Units


512
1981
1983
$172,116
$184,114
$178,051
$184,114


1,300
1984
1984
$5,262,718
$2,475,000
$5,262,718
$2,475,000

$221.03
$221.03


$56.45
$58.40


Multi-Family Less than
10 Units


Multi-Family 10 or
More Units


17,846
1962
1964
$182,406
$129,716
$199,252
$139,086

$1,013.27
$1,106.85


74,957
1980
1980
$5,380,301
$2,305,200
$5,382,166
$2,305,200

$3,082.91
$3,083.98







-TheSta e oflor'g 1


Table 16. Nassau County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
Total Units/Properties 19,803 5,933 3,665
Homesteads 14,524 4,225 593


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


1991
1995
$209,861
$158,266
$249,002
$184,127

$4,155.87
$4,930.99
$291,473
$232.850


1990
1991
$69,078
$65,124
$82,101
$75,933

$409.84
$487.11


1989
1985
$382,885
$294,525
$397,334
$299,250

$1,403.27
$1,456.23
$476,851
$316.500


Total

29,401
19,342


Multi-Family Less than
10 Units


555
1984
1985
$308,304
$269,630
$335,476
$295,920

$120.55
$131.17


Multi-Family 10 or
More Units


1,209
(*)
(*)
$1,757,667
$939,942
$1,798,009
$994,348

$42.18
$43.15


Table 17. St. Johl


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


ns County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
57,461 5,756 13,671
43,860 3,597 3,556


1995
1997
$249,390
$185,593
$286,174
$206,747

$14,330.21
$16,443.82
$334,440
$260 450


1993
1993
$69,451
$60,210
$83,755
$72,653

$399.76
$482.09


1993
1995
$184,281
$132,891
$191,324
$140,000

$2,519.31
$2,615.59
$231,051
$169900


Total

76,888
51,013


Multi-Family Less than
10 Units


2,927
1982
1983
$251,370
$162,225
$315,679
$193,276

$439.40
$551.81


Multi-Family 10 or
More Units


274
1994
1996
$2,947,321
$867,352
$2,947,321
$867,352

$114.95
$114.95


has, but St. Johns County's condominiums have 70% the total as-
sessed value of Duval County's. A similar, if not as drastic, dynamic
is at play in Nassau County which has only 15% of the number of
condominiums that Duval County has, but Nassau County's con-
dominiums have 38% of the total assessed value of Duval County's.
Both of these facts imply that condominiums serve different roles
in the housing supply for these two counties. In St. Johns County
and Nassau County, condominiums are serving more of a second-
house or investment role than they are in Duval County. This fact
is reflected in the homesteaded condominiums in each county.
Figure 13 shows the real median single-family sales price increase
for the past 10 years in the Jacksonville MSA and the five underly-
ing counties. As can be seen, the Jacksonville MSA experienced
real price increases that mirrored the state between 1999 and 2004.
However, after 2004 the MSA experienced slower real price growth
than the state. As would be expected the two coastal counties have
the highest real median single-family sales price in the Jacksonville
MSA. All five counties that make up the Jacksonville MSA experi-


enced real price decreases between 2006 and 2008. All five counties
experienced real median single-family sales price decreases of over
ten percent between 2007 and 2008 with Baker County experienc-
ing an 18.5% year-to-year decrease. St. Johns County has experi-
enced back-to-back years of real median single-family sales price
decreases of ten percent or more.
Figure 14 shows the real median condominium sales price
increase for the past ten years in the Jacksonville MSA and the five
underlying counties. As this Figure shows, the Jacksonville MSA
real median condominium sales price has not increased as fast as the
state's median. Jacksonville had a higher real median condominium
sales price than the state until 2003 when the state's real median
condominium sales price went higher than the MSA's. Clay County
experienced a 26.7% decrease in real median sales prices between
2006 and 2007, one of the largest in the state, and all the counties
saw real condominium sales price decreases of over 10 percent with
St. Johns County experiencing a 22.8% year to year decrease.









Figure 13. Jacksonville MSA Real Median Single-Family Sales Prices (2009 Dollars)
S$400.000


$350.000 -


$300.000


$250,000


$200,000


$150,000


$100,000


$50,000


So


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 14. Jacksonville MSA Real Condominium Sales Prices (2009 Dollars)
$500,000

$450,000

$400.000 I I

$350,000 I


- Baker County
S Clay County
Duval County
- Nassau County
St. Johns County
-Florida
-Jacksonville, FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


i Baker County
i Clay County
m Duval County
m Nassau County
St. Johns County
-Florida
-Jacksonville, FL MSA


$300.000

$250,000

$200.000

$150,000

$100.00o

$50,000

so







-TeStof.loida' Hoig 1


Miami-Fort Lauderdale-Pompano Beach FL

MSA


Figure 15. Miami-Fort Lauderdale- As can be seen in Figure
Pompano Beach, FL MSA 15, the Miami-Fort Lauder-
dale-Pompano Beach MSA is
located in the southeast cor-
ner of the state, and is made
up of Broward County,
Miami-Dade County, and
Palm Beach County. Ac-
cording to the 2008 Census
population estimates, this
MSA contained 29.5% of
the state's population and
has nearly twice the popula-
tion of next largest MSA
(in fact, the non-major
MSAs when combined only have 30.8% of the state's population).
This MSA has 22.5% of the state's single-family units, 50% of its
condominiums, 37.6% of the multi-family units with 9 or fewer
units, and 41.3% of multi-family units with 10 or more units. One
important item of note in this is MSA is how different the median
and mean single-family sales prices are. For the MSA as a whole, the
2008 Mean Sales Price is $167,000 higher than the 2008 Median
Sales Price.
According to the 2008 Census' population estimates, Miami-
Dade County is the largest county by population, and if it were
treated separately, it would be the second largest MSA by popula-
tion. It contains 7.7% of the state's single-family housing stock and
22% of the state's condominium stock.
According to the 2008 Census population estimates, Broward
County is the second largest county by population. It contains
7.6% of the state's single-family housing stock and 16.2% of the
state's condominium stock.


According to the 2008 Census' population estimates, Palm Beach
County is the third largest county by population. It contains 7.1%
of the state's single-family housing stock and 11.9% of the state's
condominium stock. Notice that, for single-family housing, the
mean just value is over $129,000 higher than the median just value.
This difference indicates that the presence of some extremely valu-
able single-family housing in Palm Beach County.
Figure 16 shows that the Miami-Fort Lauderdale-Pompano Beach
MSA has always had higher real median single-family sales prices
than the state. What is interesting is how much the spread between
the state and the MSA has increased over the preceding ten years. In
1999 there was only about a $25,000 difference and by 2008 that
difference had grown to almost $100,000. These three counties
are obviously having a large effect on the overall state median. All
three counties in the Miami-Fort Lauderdale-Pompano Beach MSA
experience a real median single-family sales price decline between
2007 and 2008 with Broward County decreasing 19.7 percent,
Miami-Dade decreasing 12.9 percent, and Palm Beach declining
25.8 percent.
Figure 17 shows that the real median sales price for condomini-
ums for the Miami-Fort Lauderdale-Pompano Beach MSA has
increased and decreased at the state's rate for the last ten years. This
result is not that surprising due to the fact that 50% of all condo-
minium sales occur in the three counties that make up the MSA.
Real median condominium prices had risen drastically between
1999 and 2006; however Broward and Palm Beach County have
experienced significant back to back years of real condominium
sales price decreases.


Table 18. Miami-Fort Lauderdale-Pompano Beach FL MSA Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Condominium Total
Family Home 10 Units More Units
Total Units/Properties 1,092,270 8,092 785,883 1,886,245 60,800 5,808
Homesteads 833,485 4,112 350,201 1,187,798 17,032 53


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


1980
1983
$227,229
$160,580
$282,358
$204,752

$248,195.50
$308,411.13
$457,611

$290,000


1981
1980
$64,840
$55,668
$71,469
$64,279


1984
1981
$156,290
$103,410
$168,376
$115,588


$524.69 $122,825.62
$578.32 $132,324.16
$328,216


$210,000


78,906
1964
1965
$243,102
$203,889
$261,909
$220,920

$14,780.59
$15,924.06


134,972
1969
1969
$3,090,141
$1,049,827
$3,091,442
$1,054,279

$17,947.54
$17,955.10












Table 19. Broward County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
371,609
288,508


1980
1980
$210,589
$162,920
$257,763
$201,670

$78,256.70
$95,787.07
$363,648

$275,000


Mobile
Home
4,125
2,373


1980
1980
$66,647
$61,720
$75,548
$73,390


Condominium

254,192
121,360


1984
1981
$116,952
$82,730
$126,040
$90,240


Total

629,926
412,241


Multi-Family Less than
10 Units
18,481
4,021


51,014
1966
1966
$231,273
$197,940
$247,686
$208,440

$4,274.16
$4,577.49


$274.92 $29,728.23
$311.63 $32,038.48
$202,790


Multi-Family 10 or
More Units
1,851
24

84,143
1972
1971
$3,233,412
$919,910
$3,236,416
$926,080

$5,985.05
$5,990.61


$139,900


Table 20. Miami-Dade County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
Total Units/Properties 373,021 315 344,964
Homesteads 286,616 90 147,777


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Table 21. Palm



Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


1973
1971
$221,254
$159,996
$302,328
$224,188

$82,532.29
$112,774.60
$507,184

$330,000


1963
1961
$126,467
$31,500
$135,276
$34,224


Total

718,300
434,483


Multi-Family Less than
10 Units
31,716
10,717


1984
1983
$194,554
$126,900
$210,019
$139,480


1960
1958
$271,322
$229,290
$294,746
$251,539

$8,605.24
$9,348.15


$39.84 $67,114.06
$42.61 $72,448.95
$450,731


Multi-Family 10 or
More Units
3,263
22

0
1965
1966
$2,633,666
$1,138,183
$2,634,111
$1,138,192

$8,593.65
$8,595.10


$296,900


Beach County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
347,640 3,652 186,727
258,361 1,649 81,064


1988
1989
$251,428
$158,267
$287,221
$179,595

$87,406.51
$99,849.46
$562,578

$285.000


1983
1981
$57,484
$49,684
$61,358
$53,258


1983
1981
$139,151
$81,113
$149,077
$85,000


$209.93 $25,983.32
$224.08 $27,836.74
$229,729


Total

538,019
341,074


Multi-Family Less than
10 Units
10,603
2,294


27,892
1973
1975
$179,307
$138,227
$188,477
$143,097

$1,901.19
$1,998.42


Multi-Family 10 or
More Units
694
7

50,829
1983
1985
$4,854,239
$965,694
$4,855,026
$965,694

$3,368.84
$3,369.39


$130.000







T-t e.oFordason,2 1


Figure 16. Miami MSA Real Median Single-Family Sales Prices (2009 Dollars)


$450,000


$400.000


$350,000


$300,000


$250,000


$200,000


$150,000


$100.000


$50,000


So


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 17. Miami MSA Real Median Condominium Sales Prices (2009 Dollars)
$350,000


$300,000


$250,000


$200,000


SBroward County

Miami-Dade County

SPalm Beach County

- Flonda

- Miami-Fort Lauderdale-
Pompano Beach. FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Broward County

Miami-Dade County

Palm Beach County

-Florida

- Miami-Fort Lauderdale-
Pompano Beach. FL MSA


$150,000


$100,000


$50,000
sso.ooo











Table 22. Orlando-Kissimmee, FL MSA Housing Supply
Single- Mobile
Single- Mobile Condominium Total
Family Home
Total Units/Properties 567,855 31,935 101,393 701,183
Homesteads 398.215 18.931 23.588 440.734


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


1989
1991
$167,846
$136,185
$187,178
$151,340

$95,312.38
$106,289.77
$253,408


1979
1981
$63,218
$54,843
$71,497
$62,000

$2,018.85
$2,283.25


$209,900


1991
1994
$155,770
$83,265
$158,475
$87,500

$15,794.03
$16,068.30
$186,987

$150,000


Multi-Family Less than
10 Units
9,065
1,694

10,832
1979
1983
$133,662
$115,576
$137,196
$118,652

$1,211.65
$1,243.68


Multi-Family 10 or
More Units
1,169
2

202,807
1986
1989
$6,125,104
$2,754,520
$6,125,149
$2,754,520

$7,160.25
$7,160.30


Orlando-Kissimmee, FL MSA


Figure 18. Orlando-Kissimmee, FL MSA As can be seen in
Figure 18, the Orlando-
Kissimmee MSA is lo-
cated in the center of the
state and contains four
counties: Lake County,
Orange County, Osceola
County, and Seminole
County. According to the
Census' 2008 population
estimates, the Orlando-
Kissimmee MSA has
11.2% of the state's
population; however the population is concentrated in Orange
County, which has 52.2% of the MSAs population. This differ-
ence in population is reflected in the housing supply as can be seen
in Tables 22 through 26 which show the Orlando-Kissimmee MSA
housing supply and the individual counties that make up the MSA.
The Orlando-Kissimmee MSA has 11.7% and 6.5% of Florida's
single-family housing stock and condominium stock, respectively.
Knowing that the population is concentrated in Orange County,
it is not surprising to see that it contains 49% of the single-family
housing stock with another 21% located in Seminole County. Or-
ange County has nearly 68% of all of the Orlando-Kissimmee MSA
condominiums. Osceola and Seminole County have 13.5 percent
and 15.7 percent of the MSA's condominiums respectively. Condo-
miniums play different roles in the four counties that make up this
MSA. In Lake County 47 percent of the condominiums are owner
occupied, an owner occupancy way above the state's 38.2 percent
average. Seminole County is close to the state average with its 37
percent owner occupancy. However, both Orange County and
Osceola County are way below the state's average with owner occu-
pancy rates of 21.7 percent and 9.3 percent respectively. The Disney
theme parks most likely explain the large number of condominiums
and their low owner occupancy in Osceola and Orange County.


As can be seen in Figure 19 the real median sales price for single-
family homes in the Orlando-Kissimmee MSA has nearly doubled
between 1999 and 2006, but has significantly decreased over the
past two, but still remains 41 percent higher than it was in 1999.
However, this increase and following decrease, while large, merely
mirrors what has happened to the real median single-family sales
price in Florida. Every county in the Orlando-Kissimmee MSA saw
a real median single-family sales price decrease between 2007 and
2008.
Figure 20 shows that while the Orlando-Kissimmee MSA con-
dominiums have experienced a large run-up in real prices, their
median value remains below the state median at nearly the same rate
it did in 1999. All but Lake County saw significant decreases in real
median condominium sales prices between 2007 and 2008; again
these decreases largely mirror what happened to the state in general.


Tampa-St. Petersburg-Clearwater, FL MSA


As can be seen in Figure 21, the Tampa-St. Petersburg-Clearwater
Figure 21. Tampa-St. Petersburg- (Tampa) MSA is located
Clearwater MSA near the center of the state
on its western coast. The
Tampa MSA contains four
S counties: Hernando County,
Hillsborough County, Pasco
County, and Pinellas County.
According to the Census'
2008 population estimates,
the Tampa MSA has 14.9%
of the state's population. The
population is concentrated
in Hillsborough and Pinellas
.'low Counties. This difference in
population is reflected in the
housing supply as can be seen in Tables 27 through 31 which show
the Tampa MSA housing supply and the individual counties that
make up the MSA.








-TheSta e oflor'g 1


Table 23. Lake County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
89,598
63,812


1995
1997
$155,983
$140,161
$172,075
$152,339

$13,975.73
$15,417.57
$209,647

$185,000


Mobile
Home
19,878
11,983


1975
1977
$63,252
$55,600
$71,052
$64,013

$1,257.33
$1,412.38


Condominium

3,205
1,510


1993
1997
$167,270
$79,666
$174,931
$92,820


Total

112,681
77,305


Multi-Family Less than
10 Units
1,286
112


Multi-Family 10 or
More Units


3,629
1983
1989
$133,780
$115,092
$134,186
$115,967

$172.04
$172.56


$536.10
$560.66
$151,013

$135,000


10,900
1983
1989
$2,562,315
$961,501
$2,562,432
$961,501


$368.97
$368.99


Table 24. Orange County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
278,564
197,005


1989
1990
$176,243
$136,905
$196,297
$152,508

$49,094.94
$54,681.19
$272,371

$219,800


Mobile
Home
4,746
2,609


1986
1985
$51,594
$43,421
$56,945
$47,307


Condominium

68,510
14,914


1991
1994
$149,953
$85,000
$152,419
$88,033


Total

351,820
214,528


Multi-Family Less than
10 Units
5,209
1,045


Multi-Family 10 or
More Units


2,059
1978
1980
$134,520
$116,104
$138,172
$119,524

$700.71
$719.74


$244.87 $10,273.30
$270.26 $10,442.20
$190,793


162,589
1987
1990
$6,198,242
$2,777,887
$6,198,242
$2,777,887

$4,946.20
$4,946.20


$145,000


Table 25. Osceola County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
80,818
44,981


1994
1998
$145,429
$123,843
$153,950
$129,600

$11,753.26
$12,441.90
$225,544

$190,000


Mobile
Home
5,455
3,202


1987
1986
$70,941
$60,800
$80,199
$65,500


Condominium

13,724
1,272


1999
2001
$274,741
$106,900
$275,114
$106,900


Total

99,997
49,455


Multi-Family Less than
10 Units


Multi-Family 10 or
More Units


2,131
1983
1985
$150,068
$129,600
$151,800
$132,000

$141.21
$142.84


$386.98 $3,770.54
$437.48 $3,775.67
$222,255


367
1992
1995
$6,208,041
$3,590,558
$6,208,498
$3,590,558


$484.23
$484.26


$187,000













Table 26. Seminole County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
118,875
92,417


1984
1985
$172,353
$142,924
$199,782
$166,735

$20,488.45
$23,749.11
$270,959

$220.000


Mobile
Home
1,856
1,137


1981
1980
$69,866
$61,526
$87,889
$77,773

$129.67
$163.12


Condominium

15,954
5,892


1985
1985
$76,099
$67,815
$80,843
$70,645


Total

136,685
99,446


Multi-Family Less than
10 Units
1,629
420


3,013
1979
1983
$121,350
$110,813
$128,012
$115,376

$197.68
$208.53


$1,214.09
$1,289.77
$121,965

$118.000


Multi-Family 10 or
More Units
149
0

28,951
1986
1986
$9,133,213
$7,507,835
$9,133,213
$7,507,835

$1,360.85
$1,360.85


Table 27. Tamp


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Table 28. Herna



Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


a-St. Petersburg-Clearwater MSA
Single- Mobile Condominium
Condominium
Family Home
758,191 73,332 159,751
573,335 41,535 68,778


1986
1986
$139,878
$110,470
$159,202
$124,107

$106,054.22
$120,705.82
$210,830


1983
1981
$50,418
$43,048
$56,350
$47,809

$3,697.29
$4,132.26


$169,000


2001
2008
$117,632
$81,312
$126,192
$87,399

$18,791.79
$20,159.32
$207,877

$134,000


ndo County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
60,530 11,960 726
42,869 7,016 332


1990
1989
$120,151
$107,904
$131,670
$118,473

$7,272.75
$7,969.97
$151,406

$139.400


1986
1984
$55,946
$47,457
$62,340
$52,964

$669.11
$745.58


Housing Supply
Total Multi-Family Less than
10 Units
991,274 22,007
683,648 6,268

55,762
1978
1978
$152,130
$109,076
$164,804
$115,386


$3,347.92
$3,626.84


Total

73,216
50,217


Multi-Family Less than
10 Units
473
61


1,210
1987
1986
$142,458
$130,135
$144,778
$133,549


1988
1987
$66,305
$71,183
$71,599
$76,475

$48.14
$51.98
$84,362

$92.500


$67.38
$68.48


Multi-Family 10 or
More Units
1,720
21

121,305
1983
1983
$4,153,183
$974,306
$4,153,487
$974,306

$7,143.47
$7,144.00


Multi-Family 10 or
More Units
55
1

459
1990
1990
$2,089,536
$800,000
$2,089,955
$800,000

$114.92
$114.95







T-t e.oFordason,2 1


Figure 19. Orlando-Kissimmee MSA Real Median Single-Family Sales Prices (2009 Dollars)
$350,000


m Lake County
m Orange County
S Osceola County
SeminoleCounty
-Florida
- Orlando-Kissimmee, FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 20. Orlando-Kissimmee MSA Real Median Condominium Sales Prices (2009 Dollars)
$300,000


$250,000


m Lake County
m Orange County
m Osceola County
- SeminoleCounty
-Florida
-Orlando-Kissimmee. FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


$300,000


$250,000


$200,000


$150,000


$100.000


$50.000


so


$200,000



$150,000



$100.000



so0,00ooo



so











Figure 22. Tampa-St. Petersburg-Clearwater MSA Real Median Single-Family Sales Prices (2009 Dollars)
$300,000



$250,000 ,

SHernando County

$200,000
Hillsborough County


1 Pasco County
S150,000

Pinellas County


$100,000 Florida

-Tampa-St. Petersburg-
$50,000 Clearwater, FL MSA



so
So
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 23. Tampa-St. Petersburg-Clearwater MSA Real Median Condominium Sales Prices (2009 Dollars)
$300,000



$250,000

Hernando County

$200,000
Hillsborough County


PascoCounty
s$150,00ooo0

Pinellas County


$100,000 Florida

-Tampa-St. Petersburg-

Clearwater, FL MSA



so
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008







-TheSta e oflor'g 1


Figure 25. Cape Coral-Ft. Myers MSA Real Median Single-Family Sales Prices (2009 Dollars)


$350,000


$300.000


$250,000


$200.000


$150,000


$100,000


$50.000


$0


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 26. Cape Coral-Ft. Myers MSA Real Median Condominium Sales Prices (2009 Dollars)
$300,000


- Cape Coral-Fort Myers. FL MSA
-Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


m Cape Coral-Fort Myers. FL MSA
-Florida


$250,000



S200.000



$150.000



$100,000



$50,000



so









The Tampa MSA has 15.6% and 10.2% of Florida's single-family
housing stock and condominium stock, respectively. Hillsborough
County has 6.5% of the states single-family housing, and Pinellas
County has another 5% of the state's single-family housing. Pinellas
also has 103,232 condominiums or 6.5% of the state's total
As can be seen in Figure 22 the real median sales price for single-
family homes in the Tampa MSA has increased from $134,000
to $171,000 between 1999 and 2008. However, the Florida real
median single-family sales price increased at an even greater rate, so
that the spread between the Tampa MSA median single-family sales
price and the Florida median has increased. The counties in the
MSA as a whole saw real median single-family sales price decreases
between 2007 and 2008 of over 24 percent.
Figure 23 shows that while the Tampa MSA condominiums still
have a real median sales price below the state median. The real
condominium sales price had more than doubled between 1999 and
2005, but has decreased by more than $40,000 between 2005 and
2008. All four counties experienced real condominium sales price
decreases of at least 18 percent and up to 31 percent between 2007
and 2008. In Hernando, Pasco, and Pinellas County this decline is
the second straight year of real price decreases.

Florida's Remaining MSAs
Besides the six "major" MSAs, Florida has 16 other metropolitan
statistical areas. They are: the Cape Coral-Fort Myers MSA, the
Deltona-Daytona Beach-Ormond Beach MSA, the Fort Walton
Beach-Crestview-Destin MSA, the Gainesville MSA, the Lakeland
MSA, the Naples-Marco Island MSA, the Palm Bay-Melbourne-Ti-
tusville MSA, the Palm Coast MSA, the Panama City-Lynn Haven
MSA, the Ocala MSA, the Pensacola-Ferry Pass-Brent MSA, the
Port St. Lucie-Ft. Pierce MSA, the Punta Gorda MSA, the Sarasota-
Bradenton MSA, Sebastian-Vero Beach MSA, and the Tallahassee
MSA. These remaining 16 MSAs contain twenty-three counties
and, according to the 2008 Census' population projections, they
contain 30.8% of Florida's population. Thirty-six percent of the
state's single-family housing stock, approximately 29% of the con-
dominium stock and 34% and 27% of the multi-family 9-or-less
units and multi-family 10-or-more units, respectively, are located in
these MSAs. The following section will examine each of these MSAs
individually.

Cape Coral-Fort Myers, FL MSA

Figure 24 Cape Coral-Fort Myers, FL MS As can be seen in
Figure 24, the Cape
J Coral-Fort Myers,
FL MSA is located in
the southwest corner
of the state, and is a
single county, Lee
County, MSA. It con-
tains 4 % of the state's
single-family housing
stock and 5% of the
state's condominium
stock. As can be seen


in Table 32, the mean year built for condominiums is 1992, imply-
ing that this is relatively new construction in Lee County.
As can be seen in Figure 25 and Figure 26 the real median sales
price for single-family homes and condominiums in the Cape
Coral-Ft. Myers MSA has mirrored the states single-family and con-
dominium real median sales prices. Real median single-family sales
prices decreased by 44 percent, double the state's real decrease of 22
percent. The same trend is true for condominiums as well, with a
real decrease of 28.6 percent compared to the states real decrease of
19.2 percent.

Deltona-Daytona Beach-Ormond Beach, FL
MSA

Figure 27. Deltona-Daytona Beach-Ormond Beach


Ormond Beach, FL MSA
As can be seen in Figure 27, the Deltona-Daytona Beach-Or-
mond Beach, FL MSA is located near the center of the state on its
eastern coast and is a single-county MSA, Volusia County. Accord-
ing to the Census' 2008 population estimates, the Deltona-Daytona
Beach-Ormond Beach MSA has approximately 2.7% of the state's
population. It also contains 3.2% of Florida's single-family housing
and 1.8% of Florida's condominiums.
Figure 28 shows that while the Deltona-Daytona Beach-Ormond
Beach MSA has seen the real median single-family sales prices in-
crease between 1999 and 2006 followed by a real decrease between
2006 and 2008, but this trend was consistent with what happened
to real median single-family sales prices in the state. The spread be-
tween the state's real median and the MSA's has remained relatively
constant. The Deltona-Daytona Beach-Ormond Beach MSA saw
a real median single-family sales price decrease of 10.7% between
2006 and 2007 and 20.5% between 2007 and 2008.
Figure 29 shows that until 2003 the real median condominium
sales price reflected the state's median. After 2003, the MSA actually
had higher real median condominium sales prices except for 2006
when prices declined bringing the MSA back to the state median.
However, real prices increased between 2006 and 2007, once again,
bringing the real median sales price back above the state's real me-
dian. Even after experiencing a real 23.3% decrease between 2007
and 2008, the real condominium sales price remains slightly higher
than the state's real condominium sales price.






T-t e.oFordason,2 1


Figure 28. Deltona-Daytona Beach-Ormond Beach MSA Real Median Single-Family
Sales Prices (2009 Dollars)
$300,000


Deltona-Daytona Beach-
Ormond Beach, FL MSA
- Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 29. Deltona-Daytona Beach-Ormond Beach MSA Real Median Condominium
Sales Prices (2009 Dollars)
$300,000


SDeltona-Daytona Beach-
Ormond Beach, FL MSA
- Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


$250,000



$200,000



S150,000



$100,000



$50,000



so


$250,000



$200,000



$150,000



$100,000



$50,000



So













Table 29. Hillsborough County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
308,584
237,875


1985
1985
$142,531
$111,448
$159,534
$121,485

$43,982.76
$49,229.51
$231,541

$184.100


Mobile
Home
14,011
9,206


1987
1987
$65,651
$56,890
$78,490
$68,391

$919.84
$1,099.72


Condominium

43,640
16,642


1990
1988
$99,317
$79,387
$102,985
$81,323


Total

366,235
263,723


Multi-Family Less than
10 Units
4,778
525


14,072
1976
1979
$116,785
$87,564
$118,987
$89,371

$558.00
$568.52


$4,334.18
$4,494.25
$184,637

$145.000


Multi-Family 10 or
More Units
738
2

92,775
1981
1981
$5,886,458
$1,851,846
$5,886,502
$1,851,846

$4,344.21
$4,344.24


Table 30. Pasco County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
143,014
102,307


1987
1987
$123,923
$108,024
$133,708
$119,836

$17,722.77
$19,122.12
$172,673

$158000


Mobile
Home
29,437
15,876


1983
1983
$45,391
$40,375
$49,537
$43,914

$1,336.17
$1,458.22


Condominium

12,153
5,052


1984
1983
$71,584
$56,571
$75,904
$59,459


Total

184,604
123,235


Multi-Family Less than
10 Units
3,756
1,684


7,114
1974
1974
$106,422
$86,417
$117,574
$92,605

$399.72
$441.61


$869.96
$922.46
$104,212

$80000


Multi-Family 10 or
More Units
184
0

10,301
1991
1989
$2,186,782
$545,616
$2,186,782
$545,616

$402.37
$402.37


Table 31. Pinellas County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
246,063
190,284


1987
1988
$150,677
$110,810
$180,377
$130,774

$37,075.94
$44,384.23
$230,431

$165.000


Mobile
Home
17,924
9,437


1976
1973
$43,080
$38,790
$46,236
$41,405


Condominium

103,232
46,752


2008
2008
$131,156
$86,319
$142,307
$94,752


Total

367,219
246,473


Multi-Family Less than
10 Units
13,000
3,998


33,366
1979
1978
$178,678
$122,624
$196,018
$130,227

$2,322.82
$2,548.23


$772.16 $13,539.51
$828.74 $14,690.63
$228,088


Multi-Family 10 or
More Units
743
18

17,770
1982
1983
$3,071,301
$775,000
$3,071,929
$775,000

$2,281.98
$2,282.44


$135.000








-TheSta e oflor'g 1


Table 32. Cape Coral-Fort Myers (Lee County), FL MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
198,437
121,055


1991
1995
$182,039
$110,780
$197,022
$117,110

$36,123.22
$39,096.40
$239,779

$152,000


Mobile
Home
17,084
7,496


1982
1982
$60,394
$48,625
$65,634
$51,520

$1,031.77
$1,121.29


Condominium

79,772
23,515


1992
1994
$180,248
$122,340
$183,950
$124,740


Total

295,293
152,066


Multi-Family Less than
10 Units
8,368
1,257


Multi-Family 10 or
More Units


19,248
1987
1984
$116,723
$77,220
$120,933
$77,595

$976.74
$1,011.96


$14,378.78
$14,674.07
$269,595

$185,900


16,477
1985
1985
$1,993,907
$575,245
$1,993,907
$575,245


$370.87
$370.87


Table 33. Deltona-Daytona Beach-Ormond Beach (Volusia County), FL MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
153,182
112,477


1986
1985
$127,077
$103,474
$145,272
$116,918

$19,465.87
$22,253.02
$195,280

$165,000


Mobile
Home
7,605
4,621


1988
1990
$60,636
$47,786
$69,047
$53,106


Condominium

28,639
7,263



($)
($)
$169,249
$126,800
$174,793
$135,270


Total

189,426
124,361


Multi-Family Less than
10 Units
11,318
5,264


Multi-Family 10 or
More Units


11,653
1986
1985
$108,649
$98,036
$115,973
$105,165

$1,229.69
$1,312.58


$461.13 $4,847.12
$525.11 $5,005.91
$260,905


19,983
1980
1981
$1,523,775
$406,315
$1,523,941
$406,315


$690.27
$690.35


$205,000


Table 34. Fort Walton Beach-Crestview-Destin (Okaloosa County), FL MSA Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 61,067 2,884 13,524 77,475 837 156
Homesteads 41,881 1,641 1,195 44,717 85 3


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


1984
1986
$156,759
$115,647
$182,834
$136,683

$9,572.81
$11,165.12
$250,565

$195.000


1986
1987
$55,105
$44,907
$64,172
$52,840

$158.92
$185.07


1990
1990
$286,932
$229,000
$291,519
$231,000

$3,880.46
$3,942.50
$426,480

$305.000


3,158
1973
1975
$203,085
$146,022
$208,693
$146,567

$169.98
$174.68


5,083
1983
1985
$1,392,045
$685,119
$1,393,079
$685,119


$217.16
$217.32









Fort Walton Beach-Crestview-Destin, FL
MSA

Figure 30. Fort Walton Beach-Crest- As can be seen in Figure
view-Destin, FL MSA 30, the Fort Walton
Beach-Crestview-Destin,
J FL MSA is located in the
x northwest corner of the
state along the Gulf of
Mexico, and is a single
county, Okaloosa County,
MSA. It contains 1.3%
of the state's single-family
housing stock and 0.9% of
the state's condominium
-A stock. As shown in Table
34, Okaloosa County has
extremely expensive condominium sales prices, and actually ranks as
having the ninth highest condominium prices in the state for 2008.
As can be seen in Figure 31, the real median sales price for single-
family homes in the Fort Walton Beach-Crestview-Destin MSA
mirrored the trend of single-family sales prices in the state. Real
median single-family sales prices experienced a real decline of 6.5%
between 2007 and 2008, a 7 percent between 2006 and 2007, and
this was after they showed almost no real change between 2005 and
2006.
Figure 32 highlights the expensive nature of condominiums in the
MSA and the real decline in condominium sales prices over the last
three years. Real median condominium sales prices decreased 28.5
percent between 2007 and 2008, 5.3 percent between 2006 and
2007, and 8.4 percent between 2005 and 2006.

Gainesville, FL MSA


Figure 33. Gainesville, FL MSA As can be seen in Figure
33, the Gainesville, Fl MSA
is located in the northern
interior of the state, and it
contains two counties: Ala-
chua County and Gilchrist
County. It contains 1.2% of
the state's single-family hous-
S ing stock and 0.5% of the
state's condominium stock.
Table 36 shows that Alachua
County has a relatively large
*-* number of large multi-family
housing units. Alachua County has at least 36,000 residential units
in multi-family housing. Since the University of Florida is located
in Alachua County, there is a large student population that requires
these multi-family housing units.
Figure 34 shows that the real median single-family sales price in
the Gainesville MSA has increased and decreased along with the
state's real median single-family sales price. The Figure also shows
that Alachua County's single-family housing is more expensive than
Gilchrist County's. While the spread closed 2007, it once again


widened in 2008. It should be noted that while Gilchrist County
has shown a large real increase in prices between 2006 and 2007.
That real increase in Gilchrist County was completely given back
by the real decrease in single-family sales prices in 2008. Figure 35
shows that only Alachua County has condominium sales. The sales
price trend is similar to what has occurred in the state, and while
condominiums have seen a large real return since the start of the
decade, they have still priced below the state median.

Lakeland, FL MSA


Figure 36. Lakeland, FL MSA


As can be seen in Figure
36, the Lakeland, Fl MSA
is located in the center of
the state, and is a single
county, Polk County, MSA.
It contains 3.3% of the
state's single-family housing
stock and 0.6% of the state's
condominium stock. Table 38
shows that Polk County has a
large number of multi-family
housing facilities with 9 or
less units.


Figure 37 shows that the real median single-family sales price in
the Lakeland MSA has increased and then decreased at a similar
rate as the state. Figure 38 shows that condominiums saw almost
no real return between 1999 and 2004, but saw large price increases
between 2004 and 2006, followed by a real price decrease of 11
percent between 2006 and 2007. However, Polk County was one of
the few counties that saw real median condominium prices increase
between 2007 and 2008. Even with this increase, Lakeland's condo-
miniums are still priced well below the state median.

Naples-Marco Island, FL MSA


Figure 39. Naples-Marco Island,
FL MSA


As can be seen in Figure 39,
the Naples-Marco Island, FL
MSA is located on the south-


west coast, and is a single
county, Collier County, MSA.
It contains 1.6% of the state's
single-family housing stock
and 6% of the state's condo-
minium stock. As can be seen
in Table 39, Collier County is
the third highest priced mar-
ket for single-family homes
in the state of Florida. Notice
the difference in the mean
and median single-family sales
price for 2008, implying that the upper end of single-family home
sales is extremely high in Collier County.







T-t e.oFordason,2 1


Figure 31. Fort Walton Beach-Crestview-Destin MSA Real Median Single-Family Sales Prices
(2009 Dollars)


$300,000



$250,000



$200,000



$150,000



$100,000



$50,000


Fort Walton Beach-Crestview-
Destin. FL MSA
-Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 32. Fort Walton Beach-Crestview-Destin MSA Real Median Condominium Sales Prices
(2009 Dollars)


500,000

$450,000

$400,000

$350,000

$300.000

$250,000

5200.000

$150,000

5100,000

$50,000

$0o


SFort Walton Beach.Crestview-
Destin. FL MSA
- Florida


19 2000 2001 2002 2003 2004 2005 2006 2007 2008
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008













Table 35. Gaine


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


sville FL MSA Housing Supply
Single- Mobile Condominium
Condominium
Family Home
57,259 8,207 7,483
43,967 5,924 2,536


1984
1983
$137,995
$117,000
$166,544
$144,500

$7,901.43
$9,536.15
$222,136

$195,000


1989
1990
$56,001
$50,300
$67,099
$61,500

$459.60
$550.68


1992
1993
$104,593
$97,800
$107,140
$101,000

$782.67
$801.73
$143,491

$135,000


Total

72,949
52,427


Multi-Family Less than
10 Units
1,661
93


4,895
1976
1980
$140,117
$118,400
$141,629
$119,700

$232.73
$235.25


Multi-Family 10 or
More Units
768
65

31,332
($)
($)
$1,435,126
$85,600
$1,438,172
$96,756

$1,102.18
$1.104.52


Table 36. Alachua County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
55,008
42,309


1984
1983
$139,446
$118,300
$168,210
$145,900

$7,670.64
$9,252.88
$223,425

$196 000


Mobile
Home
5,686
4,127


1989
1989
$57,376
$51,875
$67,992
$61,800

$326.24
$386.60


Condominium

7,483
2,536


1992
1993
$104,593
$97,800
$107,140
$101,000


Total

68,177
48,972


Multi-Family Less than
10 Units
1,652
93


4,851
1976
1980
$139,781
$118,600
$141,302
$119,900

$230.92
$233.43


$782.67
$801.73
$143,491

$135 000


Multi-Family 10 or
More Units
681
2

31,123
($)
($)
$1,606,350
$85,800
$1,606,350
$85,800

$1,093.92
$1,093.92


Table 37. Gilchrist County
Single-
Family
Total Units/Properties 2,251


Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


1,658


1986
1989
$102,530
$85,025
$125,845
$111,557

$230.79
$283.28
$166,968

$146.500


Housing Supply
Mobile
Mobile Condominium
Home
2,521 0
1,797 0


1990
1992
$52,899
$46,764
$65,086
$60,854

$133.36
$164.08


Total

4,772
3,455


Multi-Family Less than
10 Units
9
0


44
(*)
(*)
$201,765
$89,536
$201,765
$89,536


$0.00
$0.00
$0


$1.82
$1.82


Multi-Family 10 or
More Units
87
63

209
1981
1984
$94,860
$74,828
$121,749
$102,672

$8.25
$10.59






T-t e.oFordason,2 1


Gainesville MSA Real Median Single-Family Sales Prices (2009 Dollars)


SAlachua County
SGilchnst County
-Florida
-Gainesville, FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 35. Gainesville MSA Real Median Condominium Sales Prices (2009 Dollars)
$300,000


m Alachua County
m Gilchnst County
-Florida
-Gainesville, FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 34.


$300,000


S250,000



$200,000



$150,000



$100,000



$50,000



So


$250,000



$200,000



$150,000



$100,000



$50,000



SO







Figure 37. Lakeland-Winter Haven MSA Real Median Single-Family Sales Prices (2009 Dollars)


$300,000

$250,000

$200,000


$150,000

$100.o0

liii


Figure 38. Lakeland MSA Real Median Condominium Sales Prices (2009 Dollars)
$300,000

$250,000


$200,000

$150,000

$100,000

$50,00 -

so -


m Lakeland, FL MSA
-Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


)0U,UUU


m Lakeland, FL MSA
-Florida


S2 2 2 2 2 2 2 2
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Ill







T-t e.oFordason,2 1


Figure 40 shows that the real median single-family sales price
in the Naples-Marco Island MSA is higher than the state median.
After experiencing large real sales price increases early in the decade,
real prices peaked in 2006. Since then Collier County experienced
an 8.15 percent decline in real median single-family sales prices
between 2006 and 2007, followed by a real decline of 27.5 percent
between 2007 and 2008. These declines have brought real prices
back to their 2003 value.
Figure 41 shows that the Naples-Marco Island MSA real median
condominium sales price is higher in the state's real median sales
price. However, after three years of double digit real price increase,
there was a 4.5 percent real decline in condominium sales prices
between 2006 and 2007, and a 24 percent decline between 2007
and 2008.


Ocala, FL MSA


Figure 42. Ocala FL, MSA As can be seen in Figure
42, the Ocala, FL MSA is
located in the center of the
state and is a single-county,
Marion County, MSA. It
contains 2% of the state's
single-family housing stock
and 0.4% of the state's con-
dominium stock.
Figure 43 shows that the
real median single-family
sales price in the Ocala MSA
has followed a similar trend
as the state over the years,
but remains below the state median. Figure 44 shows that condo-
miniums experienced double digit increases in real median sales
prices between 2003 and 2006, however those price increases have
stopped and been reversed. Real median condominium sales prices
fell by 10.5 percent between 2006 and 2007, and decreased another
37 percent between 2007 and 2008.


Figure 40. Naples-Marco Island MSA Real Median Single-Family Sales Prices (2009
Dollars)
S600.000


$500,000







$300,000



$200,000



$100,000



so
1999 2000 2001 2002 2003 2004 200 2006 2007 2008
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


SNaples-Marco Island, FL MSA
- Florida













Table 38. Lakeland (Polk County), FL MSA Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 160,534 32,035 8,566 201,135 4,333 288
Homesteads 108,048 18,873 2,796 129,717 362 4


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales


1982
1987
$119,529
$104,345
$135,896
$118,848

$19,188.40
$21,815.91
$206,418


1987
1987
$50,847
$46,057
$59,556
$54,431

$1,628.88
$1 907 87


($)
($)
$71,994
$63,000
$75,871
$70,000

$616.70
$649.91
$128,942


12,336
1979
1980
$98,830
$87,259
$99,684
$87,823

$428.23
$431 93


16,574
1983
1980
$1,794,221
$474,800
$1,794,230
$474,800

$516.74
$51674


Price $180,000 $121,000




Table 39. Naples-Marco Island (Collier County), FL MSA Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 76,447 3,455 95,396 175,298 1,971 92
Homesteads 49,666 1,475 27,865 79,006 286 0
Total Number of
Residential Units 3,110 13,216
Mean year built 1991 1982 1991 1977 1985
Median year built 1995 1980 1991 1974 1989
Mean assessed value $407,949 $77,529 $294,850 $203,114 $5,177,390
Median assessed value $239,971 $60,459 $178,488 $160,719 $2,578,885
Mean just value $464,594 $87,434 $312,498 $207,090 $5,177,390
Median just value $278,619 $68,388 $187,687 $163,277 $2,578,885
Total assessed value
milss.) $31,186.46 $267.86 $28,127.51 $400.34 $476.32
Total just value milss.) $35,516.81 $302.09 $29,811.08 $408.17 $476.32
2008 Mean Sales Price $533,804 $408,100
2008 Median Sales
Price $320,000 $244,500




Table 40. Ocala (Marion County), FL MSA Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 99,781 24,769 6,501 131,051 3,641 117
Homesteads 71,089 14,570 3,939 89,598 1,669 1
Total Number of
Residential Units 8,773 1,607
Mean year built 1989 1986 1988 1976 1984
Median year built 1993 1985 1987 1980 1983
Mean assessed value $122,480 $44,882 $71,147 $140,548 $2,457,408
Median assessed value $107,901 $38,743 $61,075 $104,239 $959,001
Mean just value $142,003 $52,840 $75,197 $164,057 $2,458,439
Median just value $125,399 $45,528 $64,721 $122,400 $959,001
Total assessed value
milss.) $12,221.19 $1,111.67 $462.53 $511.74 $287.52
Total just value milss.) $14,169.22 $1,308.79 $488.86 $597.33 $287.64
2008 Mean Sales Price $182,792 $92,928
2008 Median Sales
Price $160,000 $78,000






-TheSta e oflor'g 1


Figure 41. Naples-Marco Island MSA Real Median Condominium Sales Prices (2009
Dollars)


$400,000


$350,000


$300.000


$250,000


$200,000


$150,000


$100,000


$50,000


so T


/ Naples-Marco Island, FL MSA
- Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 43. Ocala MSA Real Median Single-Family Sales Prices (2009 Dollars)
$300,000


$250.000



$200,000



$150,000



$100.000



$50,000



SO
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


m Ocala, FL MSA
- Florida


r








Figure 44. Ocala MSA Real Median Condominium Sales Prices (2009 Dollars)
5300.000


$250,000


$200,000


$150,000


$100,000


$50,000 -


SO -


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008




Palm Bay-Melbourne-Titusville, FL MSA Palm Coast, FL MSA


Figure 45. Palm Bay-Melbourne-
Titusville, FL MSA


As can be seen in Figure
45, Palm Bay-Melbourne-
Titusville, FL MSA is located
in the center of the state on its
eastern coast, and is a single-
county, Brevard County,
MSA. It contains 3.7% of the
state's single-family housing
stock and 2.2% of the state's
condominium stock.


Figure 48. Palm Coast, FL MSA


As can be seen in
Figure 48, Palm Coast,
FL MSA is located on the
northeastern coast, and
is a single-county, Flagler
County, MSA. It contains
less than 1% of the state's
single-family housing
stock and only 0.28% of
the state's condominium


S As can be seen in Figure 46, stock. While there are
the real median single-family few condominiums in the
sales price in the Palm Bay- .- MSA, with a median sales
Melbourne-Titusville MSA is price of $370,000, they
slightly below the state aver- rank as the fourth most expensive in the state.
age. This is another MSA that showed a real median single-family As can be seen in Figure 49, real median single-family sales prices
price decreases between 2006 and 2007 and between 2007 and are comparable to the state median. Real median single-family
2008, 11.8 percent and 10.9 percent respectively. Here too, real sales prices decreased by 13.4 percent between 2006 and 2007, and
median single-family housing sales price have dropped back below between 2007 and 2008 and are now slightly above what they were
their 2005 level. Figure 47 shows that condominiums experienced a in 2004. Figure 50 shows that since 2003 the real median condo-
real sales price decrease and are also priced below the state median. minium sales price has been higher than the state median. The me-
After two years of real price declines, condominiums are now priced dian year built for Flagler County's condominiums is 2003 implying
below what they were in 2004. that these condominiums are relatively new construction. Being
new construction and being located in a coastal county are likely


- Ocala, FL MSA
- Florida


il;lllllll








-TheSta e oflor'g 1


Table 41. Palm Bay-Melboume-Titusville (Brevard County), FL MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
177,859
132,617


1996
1999
$133,164
$109,030
$154,857
$124,800

$23,684.43
$27,542.74
$226,155

$185,000


Mobile
Home
11,151
7,008


1992
1994
$46,912
$44,220
$50,969
$47,600

$523.11
$56R 35


Condominium Total

35,107 224,117
12,070 151,695


1987
1985
$130,200
$96,090
$139,858
$102,270

$4,570.91
$4,910.00
$218,988


Multi-Family Less than
10 Units
2,941
771


Multi-Family 10 or
More Units


7,819
1986
1984
$189,339
$140,000
$204,448
$146,000

$556.85
S601 ?2


20,996
1990
1989
$2,743,036
$768,000
$2,743,162
$768,000


$715.93
6715 97


$160,000


Table 42. Palm Coast (Flagler County), FL MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
37,325
25,585


1997
2000
$168,058
$137,763
$184,074
$150,643

$6,272.77
$6,870.55
$236,478

$185,450


Mobile
Home
1,543
983


1990
1990
$61,550
$53,402
$74,890
$63,869

$94.97
$115.56


Condominium

4,448
904


1997
2003
$258,436
$194,300
$261,155
$195,500


Total

43,316
27,472


Multi-Family Less than
10 Units


981
1997
2003
$160,925
$154,485
$162,839
$154,732

$148.69
$150.46


$1,149.52
$1,161.62
$409,766

$370,000


Multi-Family 10 or
More Units


8
(*)
(*)
$2,241,632
$1,174,164
$2,241,632
$1,174,164


$20.17
$20.17


Table 43. Panama


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


City (Bay
Single-
Family
53,125
34,635


1983
1986
$147,612
$118,146
$181,718
$144,101

$7,841.86
$9,653.75
$238,101

$194,900


County), FL MSA Housing
Mobile
Mobile Condominium Total
Home
9,026 19,024 81,175
5,265 1,102 41,002


1991
1994
$59,334
$54,735
$68,981
$62,730


1995
2001
$200,644
$184,025
$202,069
$185,772


$535.55 $3,817.05
$622.62 $3,844.17
$278,386


Supply
Multi-Family Less than
10 Units


Multi-Family 10 or
More Units


3,069
1983
1984
$178,039
$143,509
$184,773
$145,240

$205.10
$212.86


4,873
1983
1984
$1,885,917
$726,629
$1,887,718
$726,629


$273.46
$273.72


$267,000







Figure 46. Palm Bay-Melboume-Titusville MSA Real Median Single-Family Sales Prices (2009 Dollars)
5300,000


$250,000


$200,000

V I f


II.\


$100,000

? C fl fU'i 1 ^1 ^ ^ 1 1A


03U,UUU


SPalm Bay-Melbourne-Titusville,
FL MSA
-Florida


1I 1 1 I 111
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


'igure 47. Palm Bay-Melboure-Titusville MSA Real Median Condominium Sales Prices (2009 Dollars)
$300,000

$250,000


$200,000

1 'in nln


>:U,UU


SPalm Bay-Melbourne-Titusville,
FLMSA
-Florida


$100.000 *


1III 1
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


y/_000'






-TheSta e oflor'g 1


Figure 49. Palm Coast MSA Real Median Single-Family Sales Prices (2009 Dollars)
$300,000


m Palm Coast. FL MSA
- Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 50. Palm Coast MSA Real Median Condominium Sales Prices (2009 Dollars)
5600,000



$500,000



$400,000 I I


m Palm Coast, FL MSA
-Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


$250.000



$200,000



$150,000



$100.000



$50,000



50


$300,000



$200,000



$100.000



so









explanations for the difference between the state's real median sales
price and Palm Coast's real median sales price. But even here, real
median condominium sales prices decreased by 28 percent between
2007 and 2008.

Panama City-Lynn Haven, FL MSA

Figure 51. Panama City-Lynne As can be seen in Figure
Haven FL, MSA 51, the Panama City-Lynne
Haven, FL MSA is located
L on the coast in Florida's
panhandle, and is a single
county, Bay County, MSA.
It contains 1.1% of the state's
single-family housing stock
and 1.2% of the state's con-
dominium stock. As can be
seen in Table 43, Bay County
has expensive condominium
sales prices in 2008.
.Figure 52 shows that the
real median single-family
sales price in the Panama
City-Lynne Haven MSA has increased and decreased along with the
state's real median single-family sales price. Figure 53 shows that
while condominiums were in line with the state median until about
2002, when they started to experience a large real increase in prices.
However, real condominium median sales prices declined between
2005 and 2006 and again between 2007 and 2008. While these de-
creases have reduced real prices below their 2004 values, they have
not completely erased the gains seen since 2002.


Pensacola-Ferry Pass-Brent, FL MSA

Figure 54. Pensacola-Ferry As can be seen in Figure 54,
Pass-Brent FL, MSA the Pensacola-Ferry Pass-Brent,
FL MSA is made up by two
S northwest counties, Escam-
bia County and Santa Rosa
County, in Florida's panhandle.
It contains 2.9% of the state's
single-family housing stock
and 0.7% of the state's con-
dominium stock. As can be
seen in the following tables,
the Pensacola-Ferry Pass-Brent
MSA had relatively expensive
*-)L condominiums in 2008.
Figure 55 shows that the
Pensacola-Ferry Pass-Brent MSA's real median single-family sales
price is below the state's real median. Single-family homes in Santa
Rosa have been more expensive than Escambia County, but the
spread has increased since 1999. Both Escambia County and Santa
Rosa have experienced real median single-family sales price decreases
for the 2005 to 2006, 2006 to 2007, and 2007 to 2008 time frame.
Figure 56 shows that real median condominium sales prices have


been greater than the state's median since 1999. However, the two
underlying counties have experienced rather different markets. Es-
cambia County has tended to see large price increases one year fol-
lowed by decreases the following year. Santa Rosa had experienced
three years of real price decreases until 2007, where it saw a real
increase. However, that increase was followed by a decrease in 2008.


Port St. Lucie-Ft. Pierce, FL MSA


Figure 57. Port St. Lucie-Ft. As can be seen in Figure
Pierce, FL MSA 57, the Port St. Lucie, FL
MSA is located on the eastern
coast of the state, and is a two
county, Martin County and
St. Lucie County, MSA. It
contains 2.9% of the state's
single-family housing stock
and 1.9% of the state's con-
dominium stock. As can be
seen in Table 48 and Table 49,
Martin County has only half
the number of single-family
* homes as St. Lucie County,
but its single-family homes have higher assessed and just values.
This fact implies that the single-family homes are more valuable in
Martin County.
As can be seen in Figure 58 the real median sales price for single-
family homes in Martin County has consistently been higher than
in St. Lucie County. The Port St. Lucie- Fort Pierce MSA real
median single-family sales price closely resembles the state's median
in performance over the last ten years. Both Martin and St. Lucie
County experienced double digit real price decreases between 2006
and 2007 and again between 2007 and 2008. These decreases have
erased any price gains made since 2003. Figure 59 shows that while
single-family homes may be worth more in Martin County, condo-
miniums have a higher real median sales price in St. Lucie County.



Punta Gorda, FL MSA


Figure 60. Punta Gorda FL, MSA


As can be seen in Figure 60,
the Punta Gorda, FL MSA is
made up of Charlotte County,


S. and is located on the southern
Gulf coast. It contains 1.4% of
the state's single-family housing
stock and 0.9% of the state's
condominium stock.
Figure 61 and Figure 62
shows that the real median
single-family sales price and
real median condominium
sales price in Punta Gorda has
performed in a manner similar
to the state. Note that the real median single-family sales price
declined between 2005 and 2006, between 2006 and 2007, and








-TheSta e oflor'g 1


Table 44. Pensacola-Ferry Pass-Brent, FL MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
141,268
103,069


1981
1984
$110,617
$90,316
$124,821
$102,357


Mobile
Home
11,87;
6,36


198;
1989
$36,539
$30,44;
$40,27:
$34,13'


Cond m T l Multi-Family Less than
Condominium Total 10 Units
10 Units
8 10,497 163,643 2,
4 1,594 111,027


1992
1990
$225,327
$198,110
$229,646
$202,031


$15,626.66 $434.01 $2,365.26
$17,633.17 $478.37 $2,410.59


$171,155

$150.000


Multi-Family 10 or
More Units


560
252


7,317
1976
1981
$111,944
$91,749
$114,774
$94,677

$286.58
$293.82


15,002
1984
1983
$2,478,940
$1,278,864
$2,478,940
$1,278,864


$500.75
$500.75


$419,388

$370.000


Table 45. Escambia County,
Single-
Family


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


Table 46. Santa



Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


93,837
66,625


1977
1977
$98,889
$78,857
$115,103
$92,003

$9,279.43
$10,800.96
$151,704
$135.000


FL MSA Housing Supply
Mobile
Mobile Condominium Total
Home
5,812 8,818 108,467
2,876 1,320 70,821


1988
1987
$26,191
$20,295
$29,553
$23,782

$152.22
$171.76


1992
1990
$228,270
$199,515
$232,646
$202,232

$2,012.88
$2,051.47
$433,516
$370.000


Rosa County, FL MSA Housing
Single- Mobile Condominium
Condominium
Family Home
47,431 6,066 1,679
36,444 3,488 274


1989
1993
$133,820
$114,251
$144,045
$122,206

$6,347.23
$6,832.20
$202,949
$182.000


1989
1990
$46,453
$40,804
$50,545
$44,817

$281.79
$306.61


1992
1996
$209,872
$175,750
$213,893
$175,750

$352.38
$359.13
$295,056
$275 100


Supply

Total


Multi-Family Less than
10 Units
1,907
192


Multi-Family 10 or
More Units


5,718
1974
1979
$112,617
$85,993
$116,040
$88,287

$214.76
$221.29


Multi-Family Less than
10 Units


12,861
1983
1983
$2,994,158
$1,610,695
$2,994,158
$1,610,695


$428.16
$428.16


Multi-Family 10 or
More Units


55,176
40,206


1,599
1984
1983
$109,980
$105,565
$111,076
$106,798


2,141
1984
1984
$1,230,193
$531,610
$1,230,193
$531,610


$71.82
$72.53


$72.58
$72.58


I


-


8
9
9
8
3

7











Figure 52. Panama City-Lynne Haven MSA Real Median Single-Family Sales Prices (2009 Dollars)
$300,000



$250,000 ,



$200,000


S Panama City-Lynn Haven, FL
$150,000 MSA

-Florida

$100,000



$50,000



$0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008



Figure 53. Panama City-Lynne Haven MSA Real Median Condominium Sales Prices (2009 Dollars)


Panama City-Lynn Haven, FL
MSA
-Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


$500,000

$450,000

$400,000

$350,000

$300.000

$250,000

$200,000

$150,000

$100.000

$50,000

so








-TheSta e oflor'g 1


Table 47. Port St. Lucie-Ft.


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
139,226
96,482


1990
1990
$167,671
$115,600
$187,664
$122,410

$23,344.21
$26,127.68
$222,754

$162.200


Pierce, FL MSA Housing Supply
Mobile Condominium Total Multi-Family Less than
Condominium Total 10 U
Home 10 Units
7,403 29,325 175,954 2,486
4,047 10,708 111,237 307


1987
1987
$69,268
$62,900
$74,954
$66,700

$512.79
$554.88


1985
1983
$127,132
$91,000
$134,824
$99,000

$3,727.77
$3,953.71
$203,318

$150.000


5,271
1973
1973
$118,767
$95,800
$122,421
$96,000

$295.26
$304.34


Multi-Family 10 or
More Units
123
2

2,845
1985
1985
$2,399,895
$814,510
$2,405,778
$830,910


$295.19
$295.91


Table 48. Martin



Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
45,464 3,100 14,685
34,178 1,793 6,057


1986
1988
$278,179
$173,254
$328,902
$200,065

$12,647.13
$14,953.18
$375,994
$257,500


1980
1979
$54,094
$52,040
$61,830
$58,150


1982
1980
$112,039
$77,000
$119,464
$83,000


$167.69 $1,644.96
$191.67 $1,754.33
$190,695
$125,000


Total

63,249
42,028


Multi-Family Less than
10 Units


Multi-Family 10 or
More Units


1,927
1977
1978
$140,880
$120,000
$146,151
$120,000

$137.08
$142.21


110
1985
1985
$2,376,713
$749,380
$2,389,496
$771,060


$133.10
$133.81


Table 49. St Lucie


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
93,762 4,303 14,640
62,304 2,254 4,651


1992
1992
$114,088
$99,200
$119,179
$101,800

$10,697.08
$11,174.50
$166,461
$148,000


1992
1991
$80,200
$72,300
$84,409
$74,700


1987
1985
$142,268
$117,600
$150,232
$136,400


Total

112,705
69,209


Multi-Family Less than
10 Units


3,344
1971
1970
$104,546
$70,100
$107,161
$70,500


$345.10 $2,082.81
$363.21 $2,199.39
$216,745
$180,000


Multi-Family 10 or
More Units


2,735
1985
1986
$2,419,270
$991,800
$2,419,387
$991,800


$158.18
$162.13


$162.09
$162.10











Figure 55. Pensacola-Ferry Pass-Brent MSA Real Median Single-Family Sales Prices (2009 Dollars)
$300,000


5250,000



$200,000
SEscambia County

1 Santa Rosa County
$150,000

-Florida


$100,000 Pensacola-Ferry Pass-Brent, FL
MSA


$50,000
5so~ooo -





1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 56. Pensacola-Ferry Pass-Brent MSA Real Median Condominium Sales Prices (2009 Dollars)


SEscambia County


SSanta Rosa County

- Florida


-Pensacola-Ferry Pass-Brent, FL
MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


$600,000



$500.000



$400,000



$300,000



$200,000



$100,000



SO







-TheSta e oflor'g 1


Table 50. Punta Gorda (Charlotte County), FL MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
65,421
42,917


1988
1989
$149,346
$123,200
$161,925
$133,650

$9,770.34
$10,593.30
$195,442

$156,950


Mobile
Home
5,460
2,539


1984
1982
$50,609
$38,587
$55,276
$41,079

$276.33
0301 81


Condominium

14,198
3,995


1990
1987
$161,313
$109,236
$165,425
$114,750


Total

85,079
49,451


Multi-Family Less than
10 Units
1,170
210


6,001
1982
1985
$175,577
$128,368
$179,749
$129,493

$205.43
1210 31


$2,290.32
$2,348.71
$234,784

$153,000


Multi-Family 10 or
More Units
79
1

5,827
1990
1988
$1,007,495
$35,236
$1,007,495
$35,236

$79.59
'79 59


between 2007 and 2008. Charlotte County was one of the few that
saw real median condominium sales prices increase between 2006
and 2007. However, that real increase was transitory, as real median
condominium prices decreased by almost 50 percent between 2007
and 2008, returning prices to a level not seen since before 2004.

Figure 62. Punta Gorda MSA Real Median Condominium Sales
Prices (2009 Dollars)


Sarasota-Bradenton-Venice, FL MSA


Figure 63. Sarasota-Bradenton- As can be seen in Figure
Venice FL, MSA 63, the Sarasota-Bradenton-
Venice, FL MSA is made
up of Manatee County
and Sarasota County, and
is located on the southern
Gulf coast. It contains 4.4%
of the state's single-family
housing stock 5.2% of the
state's condominium stock.
Figure 64 shows that the
real median single-family
sales price in the Sarasota-
Bradenton MSA has con-
sistently been above the state median, but that the spread between
the two has increased over the last few years. Manatee County and
Sarasota County had similar real median sales prices in 1999, but
between 2003 and 2007 Manatee County has experienced a higher
real increases and a single-family unit cost got to be around $50,000
more than in Sarasota County. However, after two straight years
of real price declines, Manatee County's median single-family sales
price has returned to Sarasota County's level.
Figure 65 shows that condominiums have performed similarly to
the state. The two counties behaved similarly to each other until


2007. While the real median price spread between the two counties
had remained between thirty and forty thousand dollars between
1999 and 2006, two years ago prices took drastically different
turns. Manatee County saw a real median condominium sales price
decrease of 16.5 percent, lowering real condominium sales prices
below their 2005 value. However, Sarasota County saw a real me-
dian sales price increase. This real increase has increased the spread
of condominium prices between the two counties to over $90,000.
While both counties experienced real price decreases of over 20
percent between 2007 and 2008, this increase in the spread between
these two counties' condominium sales price has remained.


Sebastian-Vero Beach, FL MSA


Figure 66. Sebastian-Vero Beach FL, MSA


As can be seen
in Figure 66, the
Sebastian-Vero
Beach, FL MSA
is located in the
middle of the state
on the east coast,
and is a single
county, Indian Riv-
er County, MSA. It
contains 1% of the
state's single-family
housing stock and


18% of the state's condominium stock.
Figure 67 and Figure 68 shows that the real median single-family
sales price and real median condominium sales price in the Sebas-
tian-Vero Beach MSA have increased and decreased along with the
state's real median prices. The real median condominium sales price
decreased almost 40% between 2007 and 2008, almost twice the
real decrease that the state saw.













Table 51. Sarasota-Bradenton-Venice FL, MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
212,285
147,963


1985
1987
$202,480
$143,734
$225,747
$158,700

$42,983.51
$47,922.62
$320,714

$230,000


Mobile
Home
24,457
11,292


1977
1976
$52,533
$48,003
$55,553
$50,600

$1,284.79
$1.358.67


Condominium

81,048
32,355


1985
1982
$203,561
$122,589
$214,780
$128,600


Total

317,790
191,610


Multi-Family Less than
10 Units
8,664
2,468


17,570
1971
1973
$258,084
$133,544
$291,640
$139,561

$2,236.04
$2.526.77


$16,498.23
$17,407.53
$302,266

$184,500


Multi-Family 10 or
More Units
485
3

15,482
1989
1990
$1,945,234
$427,200
$1,945,923
$427,200

$943.44
$943.77


Table 52. Manatee County Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


Single-
Family
83,713
59,938


1986
1990
$204,354
$159,996
$227,666
$175,682

$17,107.10
$19,058.62
$300,088
$230,500


Mobile
Home
12,812
5,878


1977
1974
$49,171
$42,271
$52,274
$43,847

$629.98
$669.74


Condominium

30,655
12,176


1985
1983
$144,010
$103,917
$151,507
$112,872


Total

127,180
77,992


Multi-Family Less than
10 Units
4,539
1,024


10,333
1972
1974
$192,028
$121,381
$204,838
$124,101

$871.62
$929.76


$4,414.62
$4,644.44
$214,135
$155,300


Multi-Family 10 or
More Units
281
0

13,032
1993
2002
$1,936,667
$82,478
$1,936,667
$82,478

$544.20
$544.20


Table 53. Sarasota County Housing
Single- Mobile
Family Home


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


128,572 11,645
88,025 5,414


1984
1986
$201,260
$133,700
$224,497
$145,600

$25,876.41
$28,864.00
$340,360
$229,000


1978
1977
$56,231
$53,500
$59,161
$55,700


Supply

Condominium

50,393
20,179


1984
1982
$239,787
$139,000
$253,271
$146,300


Total

190,610
113,618


Multi-Family Less than
10 Units
4,125
1,444


7,237
1969
1971
$330,769
$160,658
$387,154
$171,800

$1,364.42
$1,597.01


$654.81 $12,083.61
$688.93 $12,763.09
$362,624
$212,500


Multi-Family 10 or
More Units
204
3

2,450
1984
1985
$1,957,034
$726,050
$1,958,672
$726,050

$399.23
$399.57







T-t e.oFordason,2 1


Figure 58. Port St. Lucie-Ft. Pierce MSA Real Median Single-Family Sales Prices (2009
Dollars)


$400,000


$350,000


$300,000


$250,000


$200,000


$150.000


$100,000


$50,000


so



Figure 59.
Dollars)


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Port St. Lucie-Ft. Pierce MSA Real Median Condominium Sales Prices (2009


SMartin County
I St. Lucie County
-Florida
- Port St. Lucie, FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Martin County
St. Lucie County
Florida
- Port St. Lucie, FL MSA


$300,000



$250,000



$200,000



$150,000



$100,000



$5000ooo



$0












Table 54. Sebastian-Vero Beach (Indian River County), FL MSA Housing Supply


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales
Price


Single-
Family
47,579
33,084


1988
1990
$218,072
$123,660
$242,636
$132,600

$10,375.67
$11,544.39
$307,068

$185.000


Mobile
Home
1,350
682


1984
1981
$49,911
$43,580
$54,595
$48,675


Condominium

14,767
5,255


1986
1984
$188,028
$104,420
$197,944
$112,160


Total

63,696
39,021


Multi-Family Less than
10 Units
788
104


1,680
1976
1978
$135,530
$111,340
$137,512
$113,295

$106.80
$108.36


$67.38 $2,776.62
$73.70 $2,923.04
$269,875


Multi-Family 10 or
More Units
45
0

3,382
1989
1987
$2,366,025
$894,620
$2,366,025
$894,620

$106.47
$106.47


$139.450


Tallahassee, FL MSA


Figure 69. Tallahassee FL, MSA As can be seen in Figure
69, the Tallahassee, FL MSA
is made up by four counties:
Gadsden County, Jefferson
County, Leon County, and
Wakulla County, and it is
located in the Florida's pan-
handle on the Georgia border.
It contains 1.8% of the state's
single-family housing stock
and almost none of the state's
condominium stock. As
*- can be seen in the following
tables, Leon County has the
vast majority of the multi-family units in this MSA, and all but
around 1,800 of the residential units associated with this multi-
family housing. This fact is due to the presence of the Florida State
University and its large student population in Leon County.
Figure 70 shows that while the state and the Tallahassee MSA had
similar real median single-family sales prices in late 90s, these real
median prices diverged in 2004 when the state's median showed
higher real increases than the Tallahassee MSA. However, as the
state experienced greater real price decrease between 2006 and 2007
and also between 2007 and 2008, the state's real median single-
family sales price has come back to the Tallahassee MSA real median
single-family sales price.
Figure 71 shows that the Tallahassee MSA real condominium sales
prices are solely dependent on Leon County and Wakulla County.
The MSA as a whole has real condominium sales prices below the
state median, but the market in Wakulla and Leon County appears
drastically different. Wakulla County has seen real prices drastically
decrease since their peak in 2004, while Leon County has seen real
prices nearly double since 1999.


FLORIDA'S NON-METROPOLITAN

AREAS


There are 28 remaining counties in Florida, and they are divided
into four regional groups: Northwest Non-Metropolitan, Northeast
Non-Metropolitan, Central Non-Metropolitan, and South Non-
Metropolitan, according to categories used by the University of
Florida's Bureau of Economic and Business Research. These remain-
ing 4 non-metropolitan areas contain 5.9% of Florida's population
according to the 2008 Census' population projection and contain
6% of the state's single-family housing stock, 1.6% of the condo-
minium stock and 4.1% and 6% of the multi-family 9-or-less units
and multi-family 10-or-more units, respectively. The following sec-
tion will examine each of these non-metropolitan areas individually.


Northeast, FL Non-Metropolitan Area


Figure 72. Northeast, FL As can be seen in Figure
Non-Metropolitan Area 72, the Northeast, FL Non-
Metropolitan Area is located
in the Florida panhandle, and
S is made up by ten counties:
Bradford County, Colum-
bia County, Dixie County,
Hamilton County, Lafay-
ette County, Levy County,
Madison County, Suwannee
County, Taylor County and
Union County. It contains
1% of the state's single-family
housing stock and almost
none of the state's condominium stock.
Figure 73 shows that the Northeast Non-Metropolitan area has
a significantly lower real median single-family sales price than the
state median. Six of the underlying counties experienced real me-







The Staefloi' H ng 1


Table 55. Tallahassee FL, MSA Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 89,220 14,927 4,266 108,413 2,380 440
Homesteads 65,105 10,062 852 76,019 222 2
Total Number of
Residential Units 6,849 25,354
Mean year built 1984 1989 1997 1978 1983
Median year built 1985 1990 2005 1979 1983
Mean assessed value $134,181 $46,832 $91,425 $154,331 $2,436,739
Median assessed value $113,208 $41,921 $90,000 $130,452 $820,979
Mean just value $157,252 $53,699 $92,135 $156,153 $2,436,876
Median just value $133,424 $48,715 $90,000 $132,376 $820,979
Total assessed value
milss.) $11,971.60 $699.07 $390.02 $367.31 $1,072.17
Total just value milss.) $14,030.07 $801.56 $393.05 $371.64 $1,072.23
2008 Mean Sales Price $204,325 $132,755
2008 Median Sales
Price $170,000 $132,500


Table 56. Gadsden County Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 10,561 3,350 0 13,911 76 39
Homesteads 7,711 2,475 0 10,186 13 1
Total Number of
Residential Units 687 592
Mean year built 1977 1991 0 1982 1974
Median year built 1978 1993 0 1981 1979
Mean assessed value $79,664 $45,786 $0 $246,976 $350,881
Median assessed value $61,366 $41,174 $0 $76,593 $61,064
Mean just value $93,498 $52,009 $0 $251,218 $351,880
Median just value $75,316 $46,405 $0 $77,200 $61,064
Total assessed value
milss.) $841.33 $153.38 $0.00 $18.77 $13.68
Total just value milss.) $987.44 $174.23 $0.00 $19.09 $13.72
2008 Mean Sales Price $152,580 $0
2008 Median Sales Price $150,450 $0


Table 57. Jefferson County Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 2,534 1,251 0 3,785 65 8
Homesteads 1,794 840 0 2,634 19 0
Total Number of
Residential Units 297 95
Mean year built 1985 1992 0 1977 (*)
Median year built 1985 1993 0 1980 (*)
Mean assessed value $92,440 $49,442 $0 $133,277 $279,149
Median assessed value $71,150 $42,889 $0 $102,208 $99,715
Mean just value $117,537 $59,730 $0 $139,374 $279,149
Median just value $98,409 $54,359 $0 $105,212 $99,715
Total assessed value
milss.) $234.24 $61.85 $0.00 $8.66 $2.23
Total just value milss.) $297.84 $74.72 $0.00 $9.06 $2.23
2008 Mean Sales Price $189,643 $0
2008 Median Sales Price $173,250 $0






Figure 61. Punta Gorda MSA Real Median Single-Family Sales Prices (2009 Dollars)
SS300,000


$250,000

$200,000


hi


m Punta Gorda, FL MSA
-Florida


I I I I I I I 1
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 62. Punta Gorda MSA Real Median Condominium Sales Prices (2009 Dollars)


$350,000
$300,000
$250,000
$200,000
S150,000


$100,000
$50.000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


SPunta Gorda, FL MSA
- Florida


5 1n nnf


frn -lfl n


$5U.0UU


-


vtvvv

SO0' O'I I


mfi


~illll







T-t e.oFordason,2 1


Figure 64. Sarasota-Bradenton-Venice MSA Real Median Single-Family Sales Prices (2009 Dollars)
I $400,000


$350.000


$300.000


$250,000


$200,000


$150,000


$100,000


$50,000


SO


SManatee County

1 Sarasota County

-Florida

- Sarasota-Bradenton-Venmce, FL
MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 65. Sarasota-Bradenton-Venice MSA Real Median Condominium Sales Prices (2009 Dollars)
I $350,000


$300,000


$250,000


$200,000


$150,000


$100,000


$50,000


so


SManatee County

SSarasota County

- Florida

- Sarasota-Bradenton-Venice, FL
MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008













Table 58. Leon C



Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


Table 59. Wakull


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


county Housing Supply
Single- Mobile Condominium
Condominium
Family Home
69,159 6,768 3,976
50,461 4,447 770


1984
1985
$145,174
$120,936
$169,892
$143,446

$10,040.07
$11,749.53
$215,147
$177,000


1988
1989
$46,115
$41,624
$52,717
$48,283

$312.11
$356.79


1996
2004
$88,875
$90,000
$89,461
$90,000

$353.37
$355.70
$132,713
$132,250


la County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
6,966 3,558 290
5,139 2,300 82


1990
1996
$122,876
$106,325
$142,874
$122,607

$855.96
$995.26
$160,654
$139,900


1990
1992
$48,264
$42,663
$55,037
$49,178

$171.72
$195.82


($)
($)
$126,393
$119,136
$128,791
$121,160

$36.65
$37.35
$133,695
$135,000


Total Multi-Family Less than
10 Units
79,903 2,162
55,678 157

5,748
1978
1979
$150,853
$133,697
$152,454
$134,950


$326.14
$329.61


Total

10,814
7,521


Multi-Family Less than
10 Units


Multi-Family 10 or
More Units
388
1

24,649
1984
1983
$2,713,881
$976,217
$2,713,936
$976,217

$1,052.99
$1.053.01


Multi-Family 10 or
More Units


117
1998
2005
$178,307
$125,915
$180,336
$126,327


18
(*)
(*)
$652,361
$448,177
$652,361
$448,177

$3.26
$3.26


$13.73
$13.89


Table 60. Northeast, FL Non-Metropolitan Area Housing Supply
Single- Mobile Condominium Total Multi-Family Less than Multi-Family 10 or
Family Home 10 Units More Units
Total Units/Properties 46,318 35,476 561 82,355 650 297
Homesteads 32,901 23,405 65 56,371 192 120


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


1979
1980
$91,480
$71,975
$111,258
$90,741

$4,237.18
$5,153.25
$142,614
$130.000


1991
1992
$48,182
$41,700
$54,909
$48,270

$1,709.31
$1,947.94


2,318
1975
1980
$135,208
$86,471
$143,580
$91,319


1996
2000
$171,919
$168,600
$175,171
$169,999

$96.45
$98.27
$267,097
$216.500


3,444
1973
1977
$322,574
$71,477
$330,696
$86,854

$95.80
$98.22


$87.89
$93.33






T-t e.oFordason,2 1


Figure 67. Sebastian-Vero Beach MSA Real Median Single-Family Sales Prices (2009 Dollars)
S$300,000


$250,000



$200,000



S150,000



$100,000



$50,000



so


m Sebastion-Vero Beach, FL MSA
-Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008



Figure 68. Sebastian-Vero Beach MSA Real Median Condominium Sales Prices (2009 Dollars)
S300,000


$250,000



$200,000



$150,000



$100,000



$50,000



SO


m Sebastion-Vero Beach, FL MSA
-Florida


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008













Table 61. Bradfo


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


Table 62. Colum


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


rd County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
5,507 2,394 20
4,067 1,562 14


1975
1976
$90,127
$70,567
$111,174
$87,494

$496.33
$612.24
$140,211
$130.000


1989
1990
$50,170
$45,174
$57,080
$51,765

$120.11
$136.65


Total Multi-Family Less than
10 Units
7,921 1(
5,643


$101,131
$97,948
$147,500
$125,000

$2.02
$2.95
$151,100
$151.100


bia County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
12,550 6,790 45
9,384 4,844 28


1981
1985
$102,358
$85,425
$120,007
$103,860

$1,284.59
$1,506.09
$158,220
$147.929


1992
1994
$52,810
$48,337
$57,658
$53,526

$358.58
$391.50


Total

19,385
14,256


$67,557
$62,023
$70,116
$66,895


$0.68
$0.70


Multi-Family Less than
10 Units
222
15


783
1980
1985
$146,959
$110,552
$148,410
$112,366


1981
1980
$79,704
$70,625
$87,042
$86,098

$3.59
$3.92
$153,000
$153.000


$32.62
$32.95


Multi-Family 10 or
More Units
20
1

321
(*)
(*)
$720,799
$380,000
$721,636
$380,000

$14.42
$14.43


Multi-Family 10 or
More Units
33
1

1,450
1977
1979
$1,151,436
$659,606
$1,151,932
$659,606

$38.00
$38.01


dian single-family sales price decreases between 2006 and 2007, and
all the counties except for Taylor saw real price decreases between
2007 and 2008. Figure 74 shows that very few of these counties
have condominium sales, but there are a few counties with extreme-
ly expensive condominiums in this non-metropolitan area.



Northwest, FL Non-Metropolitan Area


As can be seen in Figure 75, the Northwest, FL Non-Metropol-
itan Area is located in the Florida panhandle, and is made up of
eight counties: Calhoun County, Franklin County, Gulf County,
Holmes County, Jackson County, Liberty County, Walton County,
and Washington County. It contains approximately 1.2% of the
state's single-family housing stock and 0.8% of the state's condo-
minium stock. As can be seen in the follow tables, these counties
can vary greatly in size from just over 1,100 single-family units to
22,500 single-family units.


Figure 75. Northwest, FL Figure 76 shows that the
Non-Metropolitan Area Northwest Non-Metropolitan
area has had higher real
median single-family sales
price than the state median
between 2002 and 2005 and
2008. However, a more care-
ful examination revels that
this is only partially true.
Most of the counties have real
median single-family sales
prices below the state median,
but the Franklin County, Gulf
County and Walton County
have such high real median
single-family sales prices. They pull the entire non-metropolitan
area up. Figure 77 shows that very few of these counties have
condominium sales, but there are a few counties with extremely
expensive condominiums in this non-metropolitan area.







T-t e.oFordason,2 1


Figure 70. Tallahassee MSA Real Median Single-Family Sales Prices (2009 Dollars)


S300,000


$250,000



$200,000



$150,000







000

S50,000


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Gadsden County
Jefferson County
- Leon County
-Wakulla County
-Florida
-Tallahassee, FL MSA


Figure 71. Tallahassee MSA Real Median Condominium Sales Prices (2009 Dollars)
I 300,000


Gadsden County
Jefferson County
/ Leon County
SWakulla County
-Florida
-Tallahassee, FL MSA


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


$250,000



$200,000



$150,000



$100,000



$50,000



so













Table 63. Dixie County Housing Supply
Single- Mobile Condominium
Family Hom Condominium
Family Home


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


2,773 3,778 152
1,718 2,273 4


1979
1980
$70,268
$41,700
$88,048
$55,100

$194.85
$244.16
$113,748
$90,000


1985
1987
$41,061
$28,774
$48,103
$35,500

$155.13
$181.73


Total

6,703
3,995


Multi-Family Less than
10 Units


2006
2006
$202,122
$181,800
$202,929
$181,800

$30.72
$30.85
$226,520
$203,500


Multi-Family 10 or
More Units


(*)
$89,400
$89,400
$89,400
$89,400


(*)
$343,075
$265,450
$343,075
$265,450

$1.37
$1.37


$0.09
$0.09


Table 64. Hamilton County Housing


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


Single-
Family
1,922
1,344


1972
1972
$65,998
$54,532
$83,297
$68,790

$126.85
$160.10
$90,735
$65,000


Mobile
Home
1,316
947


1991
1993
$41,354
$38,542
$46,146
$41,520

$54.42
$60.73


Table 65. Lafayette County Housing
Single- Mobile
Family Home


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


925 758
653 472


1975
1977
$81,866
$65,731
$106,886
$96,802

$75.73
$98.87
$122,385
$130,000


1989
1987
$44,126
$36,370
$50,980
$42,763

$33.45
$38.64


Supply

Condominium

0
0


Total

3,238
2,291


Multi-Family Less than
10 Units
16
1


$343,844
$272,078
$343,844
$272,078


$0.00
$0.00
$0
$0


Supply

Condominium

0
0


Total

1,683
1,125


$5.50
$5.50


Multi-Family Less than
10 Units


Multi-Family 10 or
More Units
175
112

377
1969
1974
$65,810
$49,670
$78,759
$56,644

$11.52
$13.78


Multi-Family 10 or
More Units


$125,733
$130,472
$125,733
$130,472


$0.00
$0.00
$0
$0


$1,250,280
$1,250,280
$1,250,280
$1,250,280

$1.25
$1.25


$0.88
$0.88







T-t e.oFordason,2 1


Figure 73. Northeast, FL Non-Metropolitan Area Real Median Single-Family Sales Prices (2009 Dollars)


Bradford County
SDixie County
S Lafayette County
Madison County
Taylor County
-Florida


mColumbiaCounty
mHamilton County
m Levy County
m Suwannee County
- Union County
-Northeast Nonmetropolitan Area


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Figure 74. Northeast, FL Non-Metropolitan Area Real Median Condominium Sales Prices (2009 Dollars)


Bradford County
S Dixie County
Lafayette County
Madison County
Taylor County
- Florida


m Columbia County
SHamilton County
m Levy County
- Suwannee County
M Union County
-Northeast Nonmetropolitan Area


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


S1,400,000

$1.200,000

$1.000.000

$800.000

$600,000

$400,000

$200,000

0o


$300,000

$250,000


$200.000

$150,000


$100,000

$5000oo

So













Table 66. Levy


C


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


Table 67. Madison



Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


countyy Housing Supply
Single- Mobile Condominium
Condominium
Family Home
7,331 9,084 241
5,291 5,793 16


1982
1983
$110,641
$87,677
$137,969
$116,164

$811.11
$1,011.45
$153,429
$126.500


1991
1992
$49,628
$42,913
$57,535
$49,976

$450.82
$522.64


County Housing
Single- Mobile
Family Home
3,037 1,428
2,093 1,058


1964
1965
$67,874
$50,809
$87,394
$67,824

$206.13
$265.42
$111,527
$83.700


1991
1993
$42,452
$35,374
$48,383
$42,237

$60.62
$69.09


Total

16,656
11,100


Multi-Family Less than
10 Units
69
6


222
1983
1986
$129,475
$90,653
$137,098
$91,072


1993
1993
$154,766
$158,999
$156,226
$159,999

$37.30
$37.65
$203,300
$215.000


Supply

Condominium

0
0


0
0
$0
$0
$0
$0

$0.00
$0.00
$0
$0


Total

4,465
3,151


$8.93
$9.46


Multi-Family Less than
10 Units
226
139


460
1967
1972
$89,975
$59,148
$105,875
$71,739

$20.33
$23.93


Multi-Family 10 or
More Units
14
0

436
(*)
(*)
$574,082
$420,000
$574,082
$420,000

$8.04
$8.04


Multi-Family 10 or
More Units
23
5

242
(*)
(*)
$283,641
$92,567
$286,012
$92,567

$6.52
$6.58


Table 68. Suwannee County Housing Supply
Single- Mobile Condominium
Family Hom Condominium
Family Home


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


5,860 5,926
4,209 4,200


1980
1982
$89,228
$73,517
$111,335
$96,229

$522.88
$652.42
$144,282
$130,000


1992
1993
$48,412
$44,067
$56,339
$51,967

$286.89
$333.87


Total Multi-Family Less than
10 Units
11,786 5(
8,409 22


270
1980
1980
$132,119
$55,229
$132,515
$55,229


$0.00
$0.00
$0
$0


$7.40
$7.42


Multi-Family 10 or
More Units
13
1

396
(*)
(*)
$752,328
$384,081
$756,819
$384,081

$9.78
$9.84







T-t e.oFordason,2 1


Figure 76. Northwest, FL Non-Metropolitan Area Real Median Single-Family Sales Prices (2009 Dollars)
$600,000


I.l


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


Calhoun County

/ Franklin County

1 Gulf County

Holmes County

SJackson County

SLiberty County

SWalton County

SWashington County

-Flonda

-Northwest Nonmetropolitan
Area


Figure 77. Northwest, FL Non-Metropolitan Area Real Median Condominium Sales Prices (2009 Dollars)
$700,000


$600,000


$500,000
5soo.ooo


$400,000


$300,000


$200,000


$100,000


SO


1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


m Calhoun County

SFranklin County

m Gulf County

Holmes County

Jackson County

Liberty County

Walton County

Washington County

-Florida

- Northwest Nonmetropolitan
Area


$500.000


$400,000


$300,000



$200,000



$100,000



50


*













Table 69. Taylor County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
Total Units/Properties 5,164 3,002 91
Homesteads 3,153 1,539 2


Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


1980
1982
$81,739
$55,184
$93,753
$64,650

$422.10
$484.14
$117,020
$98,000


1992
1992
$47,702
$36,999
$53,380
$41,489

$143.20
$160.25


($)
($)
$232,972
$195,000
$233,986
$195,000

$21.20
$21.29
$471,833
$464,500


Total

8,257
4,694


Multi-Family Less than
10 Units


306
1984
1985
$269,755
$108,569
$289,986
$108,569


$10.79
$11.60


Multi-Family 10 or
More Units


113
(*)
(*)
$1,801,078
$1,801,078
$1,801,078
$1,801,078

$3.60
$3.60


Table 70. Union


Total Units/Properties
Homesteads
Total Number of
Residential Units
Mean year built
Median year built
Mean assessed value
Median assessed value
Mean just value
Median just value
Total assessed value
milss.)
Total just value milss.)
2008 Mean Sales Price
2008 Median Sales Price


County Housing Supply
Single- Mobile Condominium
Condominium
Family Home
1,249 1,000 12
989 717 1


1980
1980
$77,349
$66,283
$94,772
$86,050

$96.61
$118.37
$144,413
$138,000


1992
1994
$46,089
$42,551
$52,839
$49,147

$46.09
$52.84


Total

2,261
1,707


Multi-Family Less than
10 Units
3
0


$134,642
$134,670
$134,642
$134,670

$1.62
$1.62
$185,000
$185,000


$218,910
$40,018
$266,593
$174,736


$0.66
$0.80


Multi-Family 10 or
More Units
12
0

66
(*l


$109,047
$37,645
$109,047
$37,645

$1.31
$1.31


Central, FL Non-Metropolitan Area


Figure 78. Central, FL
Non-Metropolitan Area


As can be seen in Figure
78, the Central, FL Non-
Metropolitan Area made up
by three counties: Citrus
County, Putnam County,
and Sumter County. It
contains approximately 2.2%
of the state's single-family
housing stock and 0.1% of
the state's condominium
stock.
Figure 79 shows that the
Central Non-Metropolitan
area has a lower median


single-family sales price than the state median. In fact, Sumter
County has a similar price as the state, and without Sumter pulling
up the non-metropolitan median, it would be significantly lower
than the state median. All three counties that make up the Central
Non-Metropolitan area experienced real single-family sales price
decreases between 2006 and 2007 and also between 2007 and 2008.
Figure 80 shows that the Central Non-Metropolitan area has a
lower median condominium sales price than the state median. As in
the single-family market, all three counties experienced real median
price decreases in their condominium markets between 2006 and
2007, and Citrus and Sumter saw real decreases between 2007 and
2008 as well.




University of Florida Home Page
© 2004 - 2010 University of Florida George A. Smathers Libraries.
All rights reserved.

Acceptable Use, Copyright, and Disclaimer Statement
Last updated October 10, 2010 - - mvs