Florida's Housing Market in Trouble as Property Taxes Skyrocket

Florida's housing affordability crisis has been exacerbated by skyrocketing property taxes in the past five years, according to a recent Redfin study, which found that three of the five metropolitan areas reporting the biggest hikes since 2019 were in the Sunshine State.In Jacksonville, the median monthly property tax payment climbed by 59.6 percent between 2019 and 2025, the third-highest increase of any of the U.S.'s most populous metropolitan areas after Indianapolis and Atlanta .

'Somewhat ironically, the state's population boom has driven up home prices and property taxes along with it. The cost of owning a home has gone from affordable to unaffordable for a lot of local Florida residents and out-of-towners.'At the same time, more frequent and more severe natural disasters have raised home insurance premiums and driven insurance companies to either cut coverage in the state's most vulnerable areas or withdraw from Florida entirely.

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