Updated July 22, 2026. Florida’s housing story in 2026 is not “prices crashed back to 2019.” It is “many markets never clawed back to their peak.”
Statewide, Zillow’s typical home value peaked near $407,371 in May 2024 and was about $378,126 in June 2026 — still 7.2% below peak. That puts Florida among the largest state gaps in the country. Full state ranking: home buyers still stuck below peak by state.
Florida metro home prices vs peak (June 2026)
Among Florida’s largest metros, Southwest Florida still shows the deepest scars from the 2022 boom. Several other markets peaked later (2024) and have only partially given that back.
| Metro | Peak month | Peak ZHVI | June 2026 | % from peak |
|---|---|---|---|---|
| Cape Coral | 2022-08 | $415,554 | $338,436 | −18.6% |
| North Port | 2022-08 | $486,276 | $404,078 | −16.9% |
| Tampa | 2024-05 | $393,467 | $361,156 | −8.2% |
| Lakeland | 2022-09 | $324,782 | $298,822 | −8.0% |
| Deltona | 2022-09 | $361,292 | $332,408 | −8.0% |
| Palm Bay | 2024-04 | $367,259 | $344,486 | −6.2% |
| Orlando | 2024-05 | $411,559 | $387,301 | −5.9% |
| Jacksonville | 2022-09 | $374,300 | $353,742 | −5.5% |
| Miami | 2024-09 | $502,355 | $476,598 | −5.1% |
National metro ranking: 25 major metros still below peak. Search every metro: Home Prices by Metro.
Why Florida is different from Austin
Austin’s peak was mid-2022. Several big Florida markets — Tampa, Orlando, Miami, Palm Bay — printed their highs in 2024. That means:
- Some Florida “stuck” buyers are more recent than 2021 remote-work migrants.
- Insurance costs, HOA/condo special assessments, and migration slowdowns matter as much as mortgage rates.
- A 5–8% gap from a 2024 peak can still feel painful if you bought with little equity.
Cape Coral and North Port: the deep correction
Cape Coral (−18.6%) and North Port (−16.9%) are the Florida names that keep showing up in national “below peak” lists. They also appear in rent-correction stories — the same migration wave that bid up houses and rents later cooled. If you are comparing owning vs renting on the Gulf Coast, start with Rent vs Buy by State and Florida rent context on Rent by State.
What this means if you are buying or selling in Florida
- Sellers who bought near peak: Pricing to 2022/2024 highs is fighting the data. The June 2026 ZHVI is the better reality check.
- Buyers: Below peak ≠ cheap. Florida typical values remain elevated versus 2019, and insurance can erase a purchase “deal.”
- Budget: Stress-test payment + insurance with the home affordability calculator.
FAQ: Florida home prices 2026
Are Florida home prices falling?
Relative to each market’s post-2021 peak, several major Florida metros are still down. Statewide Florida is about 7% below its May 2024 high as of June 2026.
Is Miami crashing?
No. Miami’s June 2026 typical value is about 5% below its September 2024 peak — a pullback, not a wipeout.
Which Florida city dropped the most from peak?
Among large metros, Cape Coral and North Port show the deepest percentage gaps. See the national list for context.
Where can I compare Florida with other states?
Home prices by state, states still below peak, and the national home price index.
Method
Zillow ZHVI, middle tier, seasonally adjusted. Peak = highest month from January 2021 through June 2026. Current = June 2026. Updated July 22, 2026.