Real Estate Blog

Florida’s Panhandle region has charming coastal towns and lush inland cities. Many of these cities offer a blend of relaxed beach vibes, outdoor attractions like swimming, snorkeling, and fishing, and waterfront dining experiences showcasing fresh Gulf seafood. If you’re considering moving to this region, Florida’s median home sale price is $450,000. But that price may not fit into your budget.

At Redfin, we’ve collected a list of the most affordable places to live in the Florida Panhandle – and they all have a median home sale price under $450,000. From small towns like Marianna to big cities like Tallahassee, read on to find out what places made the list.

teal craftsman style home in florida

1. Marianna

Median home price: $171,000
Average sale price per square foot: $107
Median household income: $27,296
Marianna, FL homes for sale
Marianna, FL apartments for rent

Taking the first spot on our list of affordable places to live in the Florida Panhandle is Marianna. This charming town has a median home sale price of $171,000. Marianna has about 7,300 residents, so you’ll have a small-town feeling. Marianna has plenty of historic places and beautiful parks like Hinson Conservation & Recreation Area and the expansive Florida Caverns State Park.

2. Valparaiso

Median home price: $236,250
Average sale price per square foot: $207
Median household income: $77,837
Valparaiso, FL homes for sale
Valparaiso, FL apartments for rent

With a median home sale price of $236,250, Valparaiso is the second most affordable town. Valparaiso has a population of 5,000, so you’ll find it has a quaint, small-town vibe. It’s close to the beach town of Destin, but Valparaiso has plenty of waterfront spots to enjoy.

3. Brent

Median home price: $242,500
Average sale price per square foot: $151
Median household income: $44,053
Brent, FL homes for sale
Brent, FL apartments for rent

Next up is the city of Brent, a vibrant area just outside of Pensacola. The median home sale price is $242,500, meaning it’s about 215K less than the state’s average. Brent is home to about 23,000 residents, and you’ll find plenty of things to explore in the area.

4. DeFuniak Springs

Median home price: $255,000
Average sale price per square foot: $171
Average rent for a 1-bedroom apartment: $420
Median household income: $56,455
DeFuniak Springs, FL homes for sale
DeFuniak Springs, FL apartments for rent

Located in the heart of Walton County, you’ll find the charming small town of DeFuniak Springs. The area has a population of 6,500 and is known for its beautiful parks and historic places. DeFuniak Springs has plenty of great outdoor areas to explore, such as Lake Stanley Park and Twin Lakes, and is close to the popular Choctawhatchee and Holmes Creek Water Management Area.

Tallahassee, Florida Aerial

5. Milton

Median home price: $259,000
Average sale price per square foot: $158
Average rent for a 1-bedroom apartment: $837
Median household income: $70,299
Milton, FL homes for sale
Milton, FL apartments for rent

Fifth on our list of affordable places to live in the Florida Panhandle is Milton. With a median home sale price of $259,000 and a population of about 10,700, Milton is a great smaller city to call home. The town is located along the Blackwater River, so you’ll find plenty of parks and outdoor activities. You can also explore museums like the West Florida Railroad Museum and the Arcadia Mill.

6. Tallahassee

Median home price: $265,000
Average sale price per square foot: $185
Average rent for a 1-bedroom apartment: $1,225
Median household income: $52,899
Tallahassee, FL homes for sale
Tallahassee, FL apartments for rent

The state capital of Florida, Tallahassee, is a lively city with a median home sale price of $265,000. The city has a population of 201,700, making it one of the larger cities on our list. There are plenty of popular attractions and historic places to explore in the area, like Mission San Luis, Florida State University, the Railroad Square Art District, Cascades Park, and the Florida Historic Capitol Museum.

7. Panama City

Median home price: $279,900
Average sale price per square foot: $197
Average rent for a 1-bedroom apartment: $1,470
Median household income: $57,221
Panama City, FL homes for sale
Panama City, FL apartments for rent

An iconic Panhandle city is Panama City, a vibrant beachside city with a median home sale price of $279,900. Panama City has a population of 34,700 and is known for its beautiful parks and popular attractions. For example, you can enjoy pristine beaches with white sand and crystal-clear waters, perfect for sunbathing, swimming, and water sports like snorkeling or paddle boarding. Additionally, you can explore St. Andrews State Park, which offers opportunities for hiking, wildlife viewing, and relaxing picnics amidst the beautiful coastal landscapes.

Aerial view of downtown Pensacola, Florida from an altitude of about 500 feet during a helicopter photo flight.

8. Callaway

Median home price: $286,000
Average sale price per square foot: $168
Median household income: $61,743
Callaway, FL homes for sale
Callaway, FL apartments for rent

A suburb of Panama City, Callaway is a charming area in the Florida Panhandle to consider moving to. Callaway has a median home sale price of $286,000 and about 13,400 residents. In Callaway, you can explore the area’s natural beauty by kayaking or canoeing along the serene waters of East Bay, spotting wildlife such as dolphins and birds along the way.

9. Springfield

Median home price: $288,000
Average sale price per square foot: $186
Median household income: $52,188
Springfield, FL homes for sale
Springfield, FL apartments for rent

In between Panama City and Callaway is Springfield, the ninth city on our list. Home to about 8,200 residents, this quaint town may be for you. There are plenty of parks and local shops to explore while living in Springfield.

10. Pensacola

Median home price: $295,000
Average sale price per square foot: $193
Average rent for a 1-bedroom apartment: $1,322
Median household income: $67,722
Pensacola, FL homes for sale
Pensacola, FL apartments for rent

Last but not least on our list of most affordable places to live in the Florida Panhandle is Pensacola. There is plenty to do in this city, such as enjoying a beach day on the Gulf Islands National Seashore, known for its pristine beauty and clear waters ideal for swimming and sunbathing. Additionally, you can explore the historic downtown area with attractions like the Pensacola Lighthouse and Museum, stroll along the Pensacola Bayfront Stadium, or enjoy fresh seafood at waterfront restaurants.

Methodology: All cities must have over 5,000 residents per the US Census and have a median home sale price under the average median list price in Florida. Median home sale price and median sale price per square foot from the Redfin Data Center during February 2024. Average rental data from Rent.com February 2024. Population and median household income data sourced from the United States Census Bureau.

This post first appeared on Redfin.com. To see the original, click here.