Alex Grichenko/Getty Images/iStockphoto
Commitment to our readers
The GOBankingRates editorial team is committed to providing you with unbiased reviews and information. We use data-driven methods to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our review methodology for products and services.
20 years
help you get rich
trusted by
millions of readers
While housing prices declined slightly last year, overall the Florida housing market is just like its sunshine state: hot, hot, hot.
However, not all of its cities and suburbs are on the same level of “fire” – in fact, some are downright cold and you’d be wise to pack your flip flops and take a little sobering up before planning your move.
To get the full scoop, GOBankingRates talked to real estate agents to find out where not to buy when it comes to Florida suburbs. Here are the three worst suburbs in Florida to buy property in the next five years, according to real estate agents.
Miami Gardens and Miami Lakes, Florida
Chelsea Werner, Global Real Estate Consultant a sotheby’sHad some wise words to share about some of Florida’s flood risks.
“I would avoid inland suburbs that have low elevations and are prone to flooding, such as Miami Gardens and Miami Lakes,” she said.
These neighboring suburbs may be far from the beach, but their low-lying areas can still be inundated when it rains heavily – and they are frequent in Florida during the rainy season. When they do, serious property damage can occur and insurance costs can be prohibitive.
“More and more people will want to buy land in the suburbs of Florida because you’ll get more bang for your buck. Also, a lot of the suburbs are not in such dangerous flood areas because some cities are closer to water, which helps with insurance,” Werner said. But he’s quick to point out that not all suburbs are created equal when it comes to flood risk.
Ruskin, Florida and other ultra-remote rural areas
Although the idea of a quiet, sprawling estate may seem appealing, Werner doesn’t think you should stray too far off the beaten path – Ruskin is a prime example.
“I would avoid suburbs that are too remote and rural, so you won’t be able to enjoy the benefits that living in a major city brings,” she shared. “You lose personal profit and the resale value will never be as high.”
Yes, you may have acres of land, but if you are too far from the nearest grocery store or hospital, that will get old very quickly. Needless to say, when the time comes to sell, you’ll find that not everyone is keen on that “middle of nowhere” lifestyle. The key is to find that sweet spot between location and convenience.
Largo, Florida
Omar Rainer, experienced Florida real estate investor and president FL Cash Home Buyers, LLCdrew our attention to Largo, a suburb near Tampa. At first glance, Largo may seem like a slice of heaven, but Rainer pointed to some storm clouds on the horizon – literally.
“Largo can be a beautiful place, but its susceptibility to hurricanes must be considered,” Rainer explained. “Being in a well-worn storm path means it’s likely to cost more on homeowners’ insurance than other areas of the state that are a little more untouched.”
Renner also pointed out another downside of Largo: “According to the site AreaVibes.com, the crime rate in Largo is 14% higher than the nation’s average, with property crime 17% higher than the rest of the country.”
Florida may still have a bright future
Both Werner and Renner emphasized that it’s not all doom and gloom in the Sunshine State — you just have to do your due diligence.
“For the most part, Florida’s cities and suburbs have good aspects and not-so-good aspects,” Renner shared. It is important to consider these factors carefully before making a decision.
Both agents advised that you should look for suburbs that strike a balance – not too close to flood-prone coastal areas, but not so far away that you lose access to city amenities. And of course, always check flood maps and crime statistics. When you’re done with all this, your ideal Florida suburb is waiting for you — just make sure you don’t forget to apply sunscreen.
