The fight to make Florida more affordable

Florida continues to attract new residents from other states, particularly New York, and the influx has raised home prices in the largest cities as well as the surrounding smaller enclaves. The Florida Association of Mortgage Professionals (FAMP) is focused on two initiatives — a property tax amendment and a condo rule change — to address the affordability challenges facing the state. In an interview with HousingWire, FAMP President Orlando Diaz, a 30-year Florida mortgage veteran, said higher mortgage rates, rising taxes and HOA costs are squeezing buyers and existing condo owners, especially retirees on fixed incomes. “You can’t really legislate interest rates and and housing prices, but you can legislate insurance and taxes, so that’s where the association is focused,” Diaz said. Florida affordability under pressure Diaz said migration from higher-cost states has pushed demand and prices not just in Miami, Tampa and Orlando, but also in markets like Cape Coral, Port St. Lucie and Brandon. More than 870,000 people moved to Florida in 2024, according to Census data, with 50,000 of that number from New York. The median list price in Florida is down by ~2% year over year according t...