Florida Home Buyers

Florida Home buyers

2017 Profile of Home Buyers and Sellers
Florida Report
Highlights
Characteristics of Home Buyers
 First-time buyers in Floridamade up 34 percent of all home buyers, a decrease from last year’s 35
percent. In Florida, 22 percent were first-time buyers.
The typical buyer was 45 years old this year, and the median household income for 2016
rose again this year to $88,800. In Florida, buyers were 54 years old and have a median
income of $83,000.
Sixty-five percent of recent buyers in Florida were married couples, 18 percent were single females,
seven percent were single males, and eight percent were unmarried couples. In Florida,
68 percent were married couples, 14 percent were single females, nine percent were
single males, and eight percent were unmarried couples.
Thirteen percent of home buyers in Florida purchased a multi-generational home, to take care of
aging parents, for cost savings, and because of children over the age of 18 moving back
home. In Florida, that share was 15 percent.
Eighty-nine percent of recent home buyers identified as heterosexual, three percent as
gay or lesbian, one percent as bisexual, and seven percent preferred not to answer. In
Florida, 88 percent identified as heterosexual, four percent as gay or lesbian, and less
than one percent as bisexual.

 Eighteen percent of recent home buyers in Florida are veterans and three percent are active-duty
service members. Twenty-five percent are veterans and three are active-duty service
members in Florida.

 At 30 percent, the primary reason for purchasing a home was the desire to own a home
of their own. In Florida, this was 26 percent.

Characteristics of Homes Purchased in Florida 
Buyers of new homes made up 15 percent and buyers in Florida of previously owned homes made
up 85 percent. In Florida, this share is 18 percent for new homes and 82 percent for
previously owned homes.
Most recent buyers who purchased new homes were looking to avoid renovations and
problems with plumbing or electricity at 36 percent. Buyers who purchased previouslyowned
homes were most often considering a better price at 32 percent. In Florida, 34
percent of new home buyers were looking to avoid renovations and problems with
plumbing or electricity and 34 percent of previously owned homes were looking for a
better overall value.
Detached single-family homes continue to be the most common home type for recent
buyers at 83 percent, followed by seven percent of buyers choosing townhomes or row
houses. In Florida, buyers bought single-family homes at 79 percent.
Senior related housing stayed the same this year at 13 percent, with 16 percent of buyers
typically purchasing condos and six percent purchasing a townhouse or row house.
Twenty-one percent of Florida Home buyers bought senior related homes in Florida.
There was a median of only 15 miles between the homes that recent buyers purchased
and the homes that they moved from. In Florida, it was 20miles.
Home prices increased slightly this year to a median of $235,000 among all buyers. Buyers
typically purchased their homes for 98 percent of the asking price. In Florida, the median
home price was $215,000 at 97 percent of the asking price.