Whether you’re moving here from out of state, moving from one area of ​​Florida to another, looking for affordable housing options, or considering buying an investment property, you may want to know which markets offer cheaper rent. If you’re looking for the cheapest cities to rent in Florida, look no further than our list!

Living in Florida has so many benefits, from great weather all year round to beautiful places to enjoy in your spare time. Healthy living is very doable, the diversity here is fantastic, the economy is strong and the state is ranked #3 in higher education (According to US News). No wonder people love living in Florida!

While Florida may not have too many of the cheapest cities to rent in the US, it does have areas where homes are rented out for less compared to the rest of the state.

Florida Rental Statistics

Before we get into the cheapest cities to rent in Florida, let’s take a look at some general ones: rental facts and statistics:

  • The average rent in Florida is $1,790 per month, compared to $1,100 nationwide
  • In the US, rental rates have increased by 31% over the past decade
  • About 109 million Americans live in rental properties
  • The state with the highest number of rental units is California
  • As regards 33.75% of Florida households rent their home

What does all this mean to you? If you are a renter looking for affordable rental housing, you will want to know where to find cheaper rent in Florida.

Cheapest cities to rent Florida

Here are the Top 5 Cheapest Cities to Rent a Home in Florida, Let’s Dive In!

1. Lake City

  • Population: 12,352
  • Median Home Listing Price: $244,450
  • Average days on the market: 41 days
  • Typical Home Value: $107,206
  • Median household income: $38,000
  • Average Rental Price: $856

Home prices in Lake City are very reasonable compared to the rest of the state, making investing in rental properties here a good choice. This allows tenants to enjoy lower rates while allowing investors to generate solid rental income. Lake City is currently the cheapest city to rent in Florida!

2. Haines City

  • Population: 26,009
  • Median Home Listing Price: $334,450
  • Average days on the market: 35 days
  • Typical Home Value: $127,247
  • Median household income: $44,279
  • Average Rental Price: $1,024

Many are attracted to the region for its affordability and end up staying for the long haul. Due to the reasonably priced homes and the wide range of rental prices, the market is moving quickly. Houses remain on the market for an average of 35 days. However, affordable rent can be paid here for singles, couples and families who are attracted to the area for its economic sustainability.

3. Titusville

  • Population: 46,580
  • Median home price: $260,975
  • Average days on the market: 40 days
  • Typical Home Value: $141,580
  • Median household income: $46,609
  • Average rent: $948

The rent is affordable here, which attracts many to the area. While it’s not the cheapest Florida city to rent on our list, both the real estate and rental markets in Titusville thrive. Houses in this area are generally well-valued. Buying and renting a home here yields a reasonably good return.

4. Green Cove Springs

  • Population: 8,577
  • Median home price: $396,945
  • Average days on the market: 51 days
  • Typical Home Value: $189,973
  • Median household income: $57,009
  • Average rental price: $916

Rent here is affordable, and many people choose to live here rather than in nearby Jacksonville or Gainesville because of Green Cove Spring’s reasonable rent ranges.

Homes are selling at a faster rate here, averaging 51 days on the market, but the property market is still healthy and savvy investors can find good deals. All this and more makes it one of the cheapest Florida cities to rent!

5. Panama City

  • Population: 34,667
  • Median Home Listing Price: $343,700
  • Average days on the market: 49 days
  • Typical Home Value: $151,560
  • Median household income: $43,953
  • Average Rental Price: $945

While the real estate market is hot here, house prices are relatively affordable. Panama City’s median household income is lower than some of the other cities mentioned above, so people have slightly less income to spend. Rents are also higher here on average, but the lower offer of rents is still very affordable.

Panama City offers plenty to do, with a wide variety of cultural and recreational offerings.

Cheapest cities to rent Florida (final thoughts)

Which cheapest city to rent in Florida is calling you? All of these cities have thriving communities, healthy real estate markets and strong economies.

All of them attract new residents thanks to affordable rent, strong employment opportunities, good public schools and proximity to excellent attractions known around the world. Many of these people will be looking for communities with affordable rents and a thriving economy.

Cities like Lake City, Haines City, Titusville, Green Cove Springs and Panama City offer the best Florida has to offer without the high price tags!

Ready to rent in one of the cheapest cities in Florida?

If you would like to explore these communities further and see if investing in real estate in any of these cities is right for you, we invite you to contact FastExpert.com. As a company that connects people buying or selling a home with top real estate agents, we can match you with the perfect real estate agent who understands your motivation to invest in Florida.

We make it easy for you to hire the right broker and we provide convenient options to easily compare top brokers to simplify your selection. Give us a try and find out why more than 400,000 satisfied customers choose FastExpert!

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