[doc30]

In the past 5 years, home prices have universally doubled at a minimum. In the cities near the coast, they have easily tripled. Property taxes get reassesed at the new value and all the hurricanes have destroyed affordable homeowners insurance. If you want to but a house in FL in a major city, a modest 1100 sq ft 2/1/0 would go for between $150K and 180K. That would carry about 2500 in property taxes and about 2500 in insurance per yearplus an equal amount for flood insurance if you need it. That's $7500 per year just in escrow costs and not the mortgage payment. Teachers in FL do not make enough money to buy and own their own home in FL.

[P-40]

Teachers in FL do not make enough money to buy and own their own home in FL.

It doesn't sound like many other employment groups will fare that well either. Might as well live in Vail, CO!

[retarmy]

Depending on where you live, you can pay more in taxes and insurance (if you can get it) than you do in a mortgage payment. Other places are just way, way out of reach of Florida teachers. I live in unincorporated Pinellas County, and my taxes are $3800+. Thankfully, I have USAA as my insurer and pay about $1800 a year in insurance, but because I live on a “mountain” (58 feet above sea level), I am not in a flood zone and therefore do not need flood insurance. If I lived in a city and needed flood insurance, it could cost an additional $2500 - 3000.

People like to think Florida is just for retirees, but we are getting much younger each year. New jobs, new opportunities, new families moving down here to get away from the cold, and to get away from the rust belt.

[SE Mom]

doc is correct- it doesn't matter where you live in FL now- costs have easily doubled.

My dil is an elementary school teacher- she and my son don't expect to be homeowners for quite some time.