Is it better to rent or buy a home in Florida?

The median gross rent in Florida, which is rent plus utilities, was $1,669 a month. Homeowners with a mortgage had median monthly owner costs of $1,959, and owners without a mortgage $673. The median value of an owner-occupied home was $359,000.

An owner who makes the home a permanent residence can apply for the homestead exemption, worth as much as $51,411 off the assessed value in 2026, though only $25,000 of it applies to school taxes. Apply to the county property appraiser by March 1. After the first year with the exemption, the Save Our Homes limit keeps the assessed value from rising more than 3% a year, or the change in the Consumer Price Index if that is lower. An owner who moves to a new Florida homestead within three years of January 1 of the year the old one was given up may be able to move part or all of that benefit, which the state calls portability.

For renters, section 83.49 of the 2026 Florida Statutes says a landlord must hold a security deposit in a separate account at a Florida financial institution, or post a surety bond. A landlord who rents five or more units must tell the tenant in writing within 30 days how it is held. When the lease ends, the landlord has 15 days to return the deposit, or 30 days to send written notice of a claim against it. The tenant then has 15 days to object.

The county property appraiser can answer questions about the tax side, and a Florida attorney can review a lease or a purchase contract.

Where to go from here.