RES Luxury Group - 3/12/2024 2:30:07 PM

Moving to Florida: The Cost of Living in Citrus County and Beyond

If you're considering a move to the Sunshine State, you're making a great choice! As someone who has lived in Florida for nearly 25 years, I can confidently say that it's a fantastic place to call home. One question that often weighs on people's minds when moving to a new area is the cost of living. So, let's dive into the cost of living in Citrus County, and explore some neighboring counties as well.

The Gem of Florida: Citrus County

Citrus County is a hidden gem in Florida that not many people are familiar with. It's a rural and nature-oriented county, offering a wide range of outdoor activities and a relaxed lifestyle. Whether you enjoy water activities like exploring crystal-clear springs or indulging in cave exploration, hiking, horseback riding, golfing, or even playing ultimate Frisbee, Citrus County has it all. The abundance of wildlife, constant chirping of birds, and the warm sunshine make it an incredible place to live.

The Average Home Price in Citrus County

Now, let's talk about the average home price in Citrus County. As of 2024, the average home price is around $315,000. This represents a 3% increase from the previous year. In 2023, the average home price was $300,000, showing a 4% increase from 2022. The year 2020, when the pandemic hit, saw an average home price of $200,000, which then experienced a 15% increase in 2021, a 24% increase in 2022, and a 19% increase in 2023.

These numbers indicate a significant shift in home prices since the pre-COVID era. However, keep in mind that even with these increases, Citrus County still offers excellent affordability compared to other areas in the United States. You can find a beautiful home here for much less than what you might expect in other parts of the country. Additionally, the tax rates in Florida are favorable, allowing you to benefit from lower taxes.

Comparing Neighboring Counties: Hillsborough and Orange County

While Citrus County offers a more rural setting, let's take a look at a couple of larger neighboring counties and compare the average home prices.

Hillsborough County, home to Tampa, has an average home price of around $478,590, just under $450,000. This represents a 2% decrease in values compared to the previous year.

Orange County, where Orlando is located, has a median home price of just over $500,000, almost $510,000. Orange County is leading the pack with slightly higher home prices, and they have experienced a 1% decrease in values in 2024.

These comparisons give you an idea of the direction the market is heading in these counties. Typically, the larger counties serve as leading indicators, with smaller counties like Citrus County following suit. However, it's important to note that real estate market conditions can change over time, so it's wise to consult with a trusted real estate professional who can provide you with up-to-date figures and valuable guidance when making your decision.

Making Your Move to Florida

If moving to Florida is on your radar, I highly encourage you to explore this beautiful state further. The lifestyle, natural beauty, and affordability make it an attractive option for many. If you have any questions about other areas or need assistance, don't hesitate to reach out to a trusted real estate professional like my team, Aria's Luxury Group. We're here to help you navigate the market and make informed decisions. You can contact us at 352-794-1426.

Frequently Asked Questions

1. What is the average home price in Citrus County, Florida?

In 2024, the average home price in Citrus County is approximately $315,000.

2. How much did the average home price increase in Citrus County since the pre-COVID era?

Since 2020, the average home price in Citrus County has seen significant increases, with a 15% increase in 2021, a 24% increase in 2022, and a 19% increase in 2023.

3. How does Citrus County compare to neighboring counties in terms of average home prices?

Compared to neighboring counties like Hillsborough and Orange County, Citrus County offers more affordable home prices. Hillsborough County has an average home price of around $478,590, while Orange County's median home price is just over $500,000.

4. Are property taxes lower in Citrus County?

Yes, property taxes in Florida, including Citrus County, are generally lower compared to many other areas in the United States.

5. Should I consult a real estate professional when considering a move to Florida?

Absolutely! It's always advisable to seek guidance from a trusted real estate professional who can provide you with up-to-date market information and help you make informed decisions regarding your move.

Remember, moving to a new state is a big decision, and having the right support and knowledge can make the process much smoother. So take your time, explore your options, and consider all the factors before making the move to Florida!

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