The Quiet Power of Homeownership in America’s Coastal Cities
- adriana
- Nov 17
- 4 min read
Imagine the possibilities of owning valuable, oceanfront real estate in Florida?
Now let’s get down to brass tacks. The average rental price in Miami, according to Zillow Rentals, is $3,100. While the rental price tapered slightly in 2025, it remains high compared to the national average. Rentals in this part of Florida are about 55% higher than the national average of $2,000. That’s why a greater focus is being placed on homeownership in America’s coastal cities, especially in SoFlo. Rent trends across South Florida reveal a sizzling-hot market with significant upside potential. Even with thousands of rental properties still available, it remains a landlord’s market.
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This is true for owners with investment properties, whether short- or long-term tenants. Property market experts estimate that the average rent for a studio apartment is $2,000 p/m. One-bedroom apartments go for $2,499 p/m. The average price for a two-bedroom apartment rises to $3,200 p/m. But if you need extra space, it’s possible to upgrade to a three-bedroom for $3,750 per month. Bigger yet, luxury four-bedroom homes can be rented for $10,000, or more, a month. The prices just keep rising from there. A standard house rents for around $3,100 per month*.
As a homeowner, you’re probably licking your lips looking at these figures. Renting out your oceanfront or bayfront property in South Florida is lucrative. The same goes for desirable real estate across many of America’s coastal cities. Granted, homeownership is not without its bugbears, especially as a rental.
Some of the challenges that homeowners regularly face in Florida include the following:
Insurance premiums
One-time assessments
Maintenance, repairs, and upkeep
Homeowners Association fees (HOA)
Vacancy periods in market downturns
Management fees on rental properties
Natural disasters (storms, flooding, etc.)
The condition of oceanfront real estate is another consideration. Recent scares in Miami have exacerbated concerns about the structural integrity of coastal real estate. Fortunately, stricter building-safety laws now mandate greater compliance with structural integrity standards. This is a win-win for landlords and tenants as it renews faith in America’s coastal cities. Now let’s turn our attention to the folks holding the title deeds.
Who Can Own a Home in America’s Coastal Cities?
That’s the $10 million question, given the outrageously expensive cost of lucrative real estate along the coast. Fortunately, there are many good deals to be had for anyone willing to roll up their sleeves and do a little work. Low-, middle-income, and high-net-worth individuals find homeownership to be the most effective way to build lasting wealth. It’s generational wealth that homeownership confers, particularly as it pertains to a portfolio of investments.
Standard mortgage approvals require mounds of paperwork. This process typically begins with a detailed look at the applicant’s credit score, earnings history, tax returns, debt/income ratio, and several other factors. With the median home price now over $400,000 nationwide, and more at the coast, it’s easy to see how homeownership is out of reach for many people. However, anyone can work towards owning their own home or renting it out for a passive income stream.
Mortgage providers tailor their offerings to their clientele. For example, a mortgage broker who works with veterans (service members who have honorably served their country) and eligible family members can facilitate a VA home purchase. That’s because veterans are part of an exclusive group that enjoys special mortgage benefits. VA loans are partially backed by the government, require no down payment, and may have qualification criteria that are a little easier for veterans.
That’s not to say credit reports and earnings are irrelevant; they certainly are, but a Certificate of Eligibility (COE) confirming veteran status greases the wheels to get the process moving. Often, the interest rates on a VA loan are comparable to or lower than the prevailing interest rate on traditional mortgage loans. With no down payment or PMI, it’s a little easier for veterans to own their own home. Bear in mind, there are origination fees and commissions associated with VA home loans.
Image by DepositPhotos
Why Own an Oceanfront Home in a Hurricane State?
Florida, the Sunshine State, is home to exquisite, ocean-facing properties. It just so happens to be a state with sunny skies pretty much year-round. It’s highly desirable with warm temperatures, palm trees, and a coastline as far as the eye can see. It’s also home to America’s entertainment playground with Universal Studios, Disney World, NASA, SeaWorld, the Everglades, Miami’s bustling nightlife, and of course, the Florida Keys and the Margaritaville vibe.
In fact, Florida is different in so many ways from the rest of the United States – it’s a melting pot of cultures, personalities, and entertainment attractions. For all of these reasons, millions of people want to own property in Florida. Sure, there are downsides, monster storms, and inclement weather, but Floridians deal with them because the benefits of Florida living far outweigh the pitfalls. The risks and the rewards go hand-in-hand, and with excellent disaster relief preparedness in place, Florida remains a top-tier destination for investors.