A recent report from the National Association of Realtors (NAR) confirms that home prices in two major Florida metropolitan areas are among the highest in the United States. For the second quarter of 2025, both the Naples and Miami regions ranked in the top 25 most expensive housing markets nationwide, reflecting the state's complex and evolving real estate landscape.
The data highlights a significant affordability challenge in South Florida, even as the state's pandemic-era population boom shows signs of moderating. The Naples-Immokalee-Marco Island area secured the 15th spot on the list, while the Miami-Fort Lauderdale-West Palm Beach corridor came in at 24th.
Key Takeaways
- Data from Q2 2025 places the Naples and Miami metro areas in the top 25 most expensive U.S. housing markets.
- The Naples-Immokalee-Marco Island area ranked 15th, with a median home price of $780,000.
- The Miami-Fort Lauderdale-West Palm Beach area ranked 24th, with a median home price of $646,000.
- The findings are based on a report released by the National Association of Realtors in August 2025.
- Despite these high prices, Florida's massive population influx has slowed, with movers increasingly considering nearby states.
National Housing Price Trends in Q2 2025
The August 2025 report from the National Association of Realtors provided a comprehensive overview of the nation's housing market. It revealed that a majority of metropolitan areas experienced a rise in home prices during the second quarter of the year. However, the pace of these increases has started to slow compared to previous quarters.
According to the NAR, 170 out of 228 metro areas, or 75%, saw home price gains in the second quarter. This figure represents a decrease from the 83% of markets that reported gains in the first quarter of 2025. The data suggests a market that is still growing but potentially moving towards greater stability.
Slowing Price Growth
The report also noted a reduction in the number of markets with extreme price hikes. Only 5% of metro areas recorded double-digit price increases in the second quarter, a significant drop from 11% in the first quarter. This cooldown indicates that the rapid, post-pandemic price acceleration may be tapering off in many parts of the country.
Despite this national trend of moderating growth, several markets, particularly in California, Hawaii, and the Northeast, continue to command exceptionally high prices. Florida's inclusion on this list underscores its status as a high-demand, high-cost destination.
Florida's Most Expensive Markets Detailed
Two distinct regions in Florida stood out for their high housing costs, placing them firmly on the national stage. The analysis focused on median existing single-family home prices, a key indicator of affordability for typical buyers.
Naples-Immokalee-Marco Island
The Naples metro area ranked as the 15th most expensive market in the entire country. The median home price in this Southwest Florida region reached $780,000 during the second quarter of 2025. Known for its luxury properties, coastline, and appeal to affluent retirees and second-home buyers, the Naples market has long been one of Florida's priciest.
This high valuation places it ahead of several well-known expensive areas, including Barnstable Town, Massachusetts (Cape Cod), and the broader New York-Newark-Jersey City metropolitan area.
Miami-Fort Lauderdale-West Palm Beach
Further down the list but still within the top 25, the sprawling South Florida metropolis of Miami-Fort Lauderdale-West Palm Beach ranked 24th. The median home price across this densely populated corridor was $646,000 for the same period. As a major international hub for business, finance, and culture, the region continues to attract significant domestic and foreign investment, which helps sustain high property values.
Cost Comparison
To put Florida's prices in perspective, the most expensive market in the U.S. was San Jose-Sunnyvale-Santa Clara, California, with a staggering median price of $2,138,000. The second was Anaheim-Santa Ana-Irvine, California, at $1,431,500.
The Top 25 Most Expensive US Housing Markets
The NAR report identified the following 25 metropolitan areas as having the highest median single-family home prices in the second quarter of 2025. The list is dominated by markets in California.
- San Jose-Sunnyvale-Santa Clara, CA: $2,138,000
- Anaheim-Santa Ana-Irvine, CA: $1,431,500
- San Francisco-Oakland-Hayward, CA: $1,426,000
- Urban Honolulu, HI: $1,148,600
- San Diego-Carlsbad, CA: $1,025,000
- Salinas-Monterey, CA: $978,400
- Oxnard-Thousand Oaks-Ventura, CA: $958,100
- San Luis Obispo-Paso Robles, CA: $928,000
- Los Angeles-Long Beach-Glendale, CA: $879,900
- Boulder, CO: $859,500
- Bridgeport-Stamford-Norwalk, CT: $845,400
- Seattle-Tacoma-Bellevue, WA: $834,000
- Boston-Cambridge-Newton, MA-NH: $833,900
- Nassau County-Suffolk County, NY: $798,800
- Naples-Immokalee-Marco Island, FL: $780,000
- Barnstable Town, MA: $771,700
- New York-Newark-Jersey City, NY-NJ: $756,800
- New York-Jersey City-White Plains, NY-NJ: $752,600
- Newark, NJ: $749,600
- Washington-Arlington-Alexandria, DC-VA-MD-WV: $681,900
- Santa Fe, NM: $675,600
- Denver-Aurora-Lakewood, CO: $667,200
- Missoula, MT: $656,900
- Miami-Fort Lauderdale-West Palm Beach, FL: $646,000
- Reno, NV: $635,100
Broader Context of Florida's Economy
Florida's high real estate prices are deeply connected to its recent economic and demographic shifts. Between 2021 and 2023, the state experienced a massive influx of new residents, drawn by factors like warm weather, no state income tax, and a growing job market. In 2022, Florida was named the nation's fastest-growing state by the U.S. Census Bureau for the first time since 1957.
However, this intense migration has started to level off. A May 2025 report from moving company PODS indicated that while the Southeast remains popular, many people are now choosing states like North Carolina, South Carolina, and Tennessee. Experts suggest that rising living costs and concerns over severe weather in Florida are contributing to this shift.
Cost of Living in Florida
The cost of living varies dramatically across Florida. While major metro areas are expensive, many smaller towns remain affordable. For example, Zillow data shows the average home value in the small town of Chattahoochee is around $116,000, compared to nearly $294,000 in the nearby capital, Tallahassee. According to SoFi, the average personal consumption cost in Florida is approximately $50,689 per year, with housing and healthcare being major expenses.
The state's median annual income, based on 2023 Census data, is about $73,000. This disparity between typical incomes and the high home prices in markets like Naples and Miami highlights the growing affordability crisis for many residents. While some Florida cities are praised for their value, the latest NAR report confirms that others are competing with the most expensive locations in the nation.
