Buying a Second Home in Florida
What changes when the Florida home is not your main address
A second home in Florida costs the same to buy as a primary one, about $262,592 for a typical condo and $396,809 for a single-family home on Zillow's home value index, but it is taxed and financed differently. You get no homestead exemption, lenders price the loan for a home you occupy part of the year, and an empty house needs a plan for storms and maintenance.
- Typical home value
- $375K Florida, Zillow, September 2026
- Past year
- −0.9%
- Past 5 years
- +18.6%
How a second-home mortgage differs from a primary loan
Lenders sort loans by occupancy: primary residence, second home and investment property. A second-home loan sits in the middle on price and down payment. Common features:
- Down payment: conventional second-home loans commonly start at 10% down. On the statewide condo value of $262,592 that is about $26,259; on a $396,809 house, about $39,681.
- Occupancy: you sign that you will use the home yourself for part of the year and keep it available for your own use. Misstating occupancy to get better terms is mortgage fraud.
- Property type: second-home loans are generally limited to one-unit homes, including condos and townhouses.
- Reserves: expect the lender to want several months of payments on both homes in your accounts after closing.
- Debt ratio: both housing payments count against your income.
For condos, check early whether the building is warrantable. A non-warrantable building narrows the lender list and usually raises the down payment.
Zillow Home Value Index, mid-tier, seasonally adjusted. Hover to see any date.
Data table
| Month | All homes |
|---|---|
| Dec 2012 | $137,888 |
| Dec 2013 | $159,013 |
| Dec 2014 | $174,323 |
| Dec 2015 | $191,493 |
| Dec 2016 | $208,002 |
| Dec 2017 | $224,615 |
| Dec 2018 | $240,223 |
| Dec 2019 | $250,318 |
| Dec 2020 | $272,004 |
| Dec 2021 | $332,010 |
| Dec 2022 | $393,135 |
| Dec 2023 | $400,867 |
| Dec 2024 | $396,947 |
| Dec 2025 | $376,536 |
| Sep 2026 | $375,361 |
Property tax without homestead
The biggest ongoing difference is property tax. A Florida homestead in 2026 gets up to $51,411 off assessed value and a cap on assessment growth of 3% or CPI, whichever is lower. A second home gets neither benefit.
- No exemption: you pay tax on the full assessed value.
- A looser cap: non-homestead property has a 10% annual cap on assessment increases, and it applies only to non-school levies. School taxes are assessed on full market value each year.
- Reset at purchase: the assessment moves to market value after you buy, so the seller's bill tells you little, especially if the seller had homestead.
Ask the county property appraiser's estimator for a non-homestead figure on the address before you write an offer. Amendment 3, on the November 3, 2026 ballot, includes changes for non-homestead property and needs 60% to pass; the outcome is unknown at this writing. This isn't legal or tax advice.
- Monroe County$963K
- Walton County$661K
- Collier County$552K
- Miami-Dade County$523K
- St. Johns County$493K
- Nassau County$485K
- Palm Beach County$476K
- Martin County$448K
- Broward County$422K
- Franklin County$422K
- Manatee County$408K
- Gulf County$404K
Show all 67
- Orange County$401K
- Seminole County$400K
- Sarasota County$399K
- Sumter County$388K
- Hillsborough County$376K
- St. Lucie County$371K
- Pinellas County$369K
- Indian River County$364K
- Lake County$360K
- Osceola County$359K
- Okaloosa County$353K
- Santa Rosa County$351K
- Flagler County$350K
- Bay County$343K
- Brevard County$342K
- Clay County$335K
- Lee County$334K
- Pasco County$328K
- Volusia County$325K
- Baker County$314K
- Gilchrist County$306K
- Hernando County$306K
- Jefferson County$306K
- Alachua County$299K
- Charlotte County$299K
- Polk County$296K
- Duval County$294K
- Leon County$291K
- Okeechobee County$289K
- Levy County$287K
- Wakulla County$286K
- Escambia County$280K
- Hendry County$270K
- Citrus County$269K
- Marion County$268K
- Columbia County$268K
- Suwannee County$267K
- Lafayette County$262K
- Glades County$257K
- Union County$257K
- Bradford County$253K
- De Soto County$250K
- Hardee County$235K
- Highlands County$231K
- Washington County$221K
- Dixie County$218K
- Putnam County$216K
- Hamilton County$207K
- Madison County$206K
- Liberty County$201K
- Gadsden County$200K
- Taylor County$197K
- Holmes County$181K
- Jackson County$180K
- Calhoun County$167K
Zillow index, highest to lowest.
- Key West$1.02M
- Palm Beach Gardens$696K
- Sunny Isles Beach$651K
- Miami$584K
- Boca Raton$580K
- Naples$546K
- Miami Beach$531K
- Coral Springs$522K
- Fort Lauderdale$510K
- Winter Park$466K
- Hollywood$442K
- Aventura$423K
Show all 33
- Sarasota$411K
- West Palm Beach$405K
- The Villages$392K
- Port St. Lucie$384K
- Venice$380K
- Tampa$376K
- Orlando$373K
- Vero Beach$362K
- Melbourne$358K
- Kissimmee$355K
- St. Petersburg$352K
- Bradenton$352K
- Pompano Beach$350K
- Delray Beach$345K
- Clearwater$341K
- Punta Gorda$335K
- Cape Coral$335K
- Fort Myers$305K
- Jacksonville$285K
- Ocala$264K
- Daytona Beach$251K
Zillow index, highest to lowest.
Canadian and out-of-state owners: day counts and filings
Canadians are the largest group of seasonal Florida buyers I work with, and the day count matters more than the purchase.
- Visitor stays: Canadians can generally stay as visitors for up to about six months a year. The 182-day figure is a CBP practice, and border officers apply it.
- IRS substantial presence test: a weighted 183-day formula counts all days this year, one third of last year's days and one sixth of the days from the year before. Crossing it can make you a US tax resident.
- Form 8840: the closer connection statement lets many snowbirds who meet the test show stronger ties to Canada.
- Health coverage: provincial rules on time outside the province vary, so check yours before planning long stays.
Owners from other states should also think about where the second home sits in their estate plan. A Florida property held in your own name can require a separate probate in Florida. Confirm all of this with a cross-border tax advisor or an estate attorney before closing.
Condo or house for a home that sits empty half the year
For part-time owners, the choice between a condo and a house is mostly about who handles the building while you are away.
- Condo: the association handles the roof, exterior walls and grounds, and many buildings have staff on site. You pay for it in monthly fees, and older buildings may carry assessments tied to milestone inspections and structural reserve requirements.
- House: lower monthly fees but full responsibility for the roof, the yard, hurricane shutters and the pool. Many owners pay a home watch service to check the property on a schedule.
- HOA single-family communities: a middle option where exterior maintenance or landscaping may be included.
Read condo and HOA rules on use and guests before you commit. Restrictions on who can stay in the unit when you are not there differ widely between communities, and they affect resale.
Insuring a part-time Florida home
Tell the insurer it is a seasonal home. Policies for homes that are not lived in year-round may have conditions about long vacancies, water shutoff or regular checks. A few points that apply to every Florida buyer matter more when you are not there:
- Wind mitigation and roof age drive the premium. A wind mitigation inspection documents shutters, roof attachment and other features that earn discounts.
- Hurricane deductibles are a percentage of dwelling coverage, often 2%, 5% or 10%, and apply once per calendar year.
- Flood coverage is a separate policy. Lenders require it in FEMA A and V zones. Citizens Property Insurance now requires flood coverage on most of its wind policies with dwelling coverage of $400,000 or more, and on all of them from January 1, 2027.
Get the quote during the inspection period so the number is in hand before your deposit is at risk.
Closing from another state or country
Most second-home buyers are not in Florida for the whole transaction, and that is routine. A few steps keep it clean:
- Remote signing: title companies regularly send closing packages to be signed in front of a notary where you live, or arrange online notarization where the lender allows it.
- Inspections without you: book the inspector and ask for a video walkthrough or a call afterward. Ask for the wind mitigation and 4-point reports at the same visit.
- Wire instructions: confirm them by phone with the title company using a number you found yourself. Wire fraud targets buyers who close remotely.
- How you take title: individually, jointly with a spouse, or through a trust. Each choice affects financing and estate planning, and lenders limit some options.
- Keys and utilities: set up power, water and internet before the closing date so the home is not left without power during storm season.
When the paperwork is done, walk the property on your first visit with the inspection report in hand and check every item the seller agreed to repair.
Where second-home buyers look, and what the data shows
Seasonal buyers cluster where older residents already live. Census data shows residents 65 and older make up 55.8% of Naples, 61.4% of Venice and 53.6% of Punta Gorda, against 11.3% in Orlando. Prices across those markets are wider than people expect, using Zillow values:
- Naples: $545,587 for all homes, $378,644 for condos.
- Sarasota: $410,998 overall, $263,924 for condos.
- Punta Gorda: $334,685 overall, $235,089 for condos.
- Fort Myers: $304,566 overall, $216,573 for condos.
- Daytona Beach: $251,316 overall, $153,811 for condos.
Statewide, condo values are down 3.9% over the past year, while all homes are down 0.9%. That gives part-time buyers more room to negotiate on condos than they had a few years ago, but price alone should not pick the building. Fees, reserve status and the insurance quote decide the real cost.
Florida: questions and answers
How much down payment do I need for a second home in Florida?
Conventional second-home loans commonly start at 10% down. On a $262,592 condo, the statewide typical value, that is about $26,259. Non-warrantable condos and some loan types require more.
Do second homes get the homestead exemption in Florida?
No. Homestead applies only to your permanent Florida residence. A second home pays tax on full assessed value, with a 10% cap on yearly increases for non-school levies only.
Can Canadians buy a second home in Florida?
Yes. Buying does not require US citizenship or residency, and it does not give you a visa or extra days. Plan stays around the roughly six-month visitor limit and the IRS substantial presence test.
Is property tax higher on a second home in Florida?
Usually yes, because there is no exemption and the assessment cap is looser. The assessment also resets to market value when you buy, so check the property appraiser's estimate rather than the seller's bill.
Do I need flood insurance on a Florida second home?
Your lender requires it in FEMA A and V zones, and Citizens requires it on most of its policyholders by 2027. Outside those cases it is optional, and it is still worth pricing for any home near water.
Get a shortlist that fits your budget
Tell me what you're looking for and I'll send real listings with the full cost of owning each one: HOA or condo fees, property tax at your price, insurance, and closing costs. No newsletters, no pressure.
- MLS listings, including ones that just hit the market
- Condo budget, reserves and inspection history checked before you offer
- Fully remote if you need it: video tours, e-signing, wire to escrow
Or reach me directly: (754) 203-9632 · [email protected] · WhatsApp on the same number
Run the numbers for your purchase
Data: Zillow Home Value Index (ZHVI), Zillow Research, latest month September 2026; U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates. Figures for small areas carry margins of error. These are planning numbers, not an appraisal of any property.