Florida’s Best Cities for Affordable Waterfront Living

Americans often pay a significant premium for waterfront properties—nearly 75% more than the average home price. However, a recent study from Virtual Staging AI highlights two Florida cities, Naples and St. Augustine, as top locations for more affordable waterfront living.

Ranked 2nd and 10th in affordability nationwide, Naples and St. Augustine offer lower housing price-to-income ratios, meaning median home prices are more attainable relative to median household incomes. In Naples, this ratio is 5.85, while St. Augustine’s is 6.88. By comparison, Newport Beach, CA, ranks as the least affordable, with a high ratio of 57.54.

Naples provides a blend of luxury and affordability, featuring a median home price of $793,000 and a median annual income of $135,657—57% above the national average. This coastal city offers numerous lifestyle perks, from Gulf Coast boating to the Naples Botanical Garden. However, home prices vary, with coastal areas commanding higher prices.

Current median home prices stand at approximately $602,301 in Naples and $456,198 in St. Augustine, according to Zillow, with monthly rental rates averaging $5,700 and $2,263, respectively.

Source: Naples Daily News (07/02/24) Norman, Lianna

Bottom Line:

For those seeking waterfront living without an excessive premium, Naples and St. Augustine stand out as affordable options in Florida, offering a mix of lifestyle benefits and relative affordability.