Why Now: No State Income Tax, Faster Sales and Rising Prices in Parts of South Florida
There are practical reasons South Florida remains attractive to buyers, and several of them are measurable. Florida's tax structure, the pace of sales and recent price trends all show up in published data. Here is what they say, and where the picture is mixed, so you can weigh it for yourself.
No state tax on personal income
The Tax Foundation's Florida page for 2026 states that Florida does not have an individual income tax. It also reports a 6.00 percent state sales tax rate, an average combined state and local sales tax rate of 7.02 percent, and an effective property tax rate of 0.78 percent on owner occupied housing value. Florida also has no estate tax or inheritance tax, according to the same page.
The absence of a personal income tax matters most to people who earn income and will live here, such as retirees and remote workers. Check your own situation with a tax professional, since residency rules and federal taxes still apply.
One tax issue to watch
The Tax Foundation published an analysis on October 20, 2026 of Amendment 3, which it describes as a proposed restructuring of Florida's local tax base that could affect the state's tax competitiveness. Read the ballot language and local reporting, and ask a tax adviser how it could affect a particular property.
Homes are selling faster in several cities
Redfin reports that the median time on market for September 2026 fell compared with a year earlier in Davie, from 90 days to 68, in Plantation, from 85 to 66, in Fort Lauderdale, from 130 to 104, in Aventura, from 165 to 137, and in Miami Beach, from 131 to 129. Weston went the other way, from 76 days to 81.
Prices are rising in some places and not others
Redfin's median sale prices for the three months ending September 2026 were up 16.5 percent in Davie to $544,741, up 14.1 percent in Fort Lauderdale to $604,712 and up 7.5 percent in Miami Beach to $599,714. Plantation was up 1.1 percent to $504,760. Aventura was down 3.8 percent to $456,782 and Weston was down 1.1 percent to $781,628.
That mixed result is honest information. Prices are not rising everywhere, and a one year change says nothing certain about the future. This research did not find a source for long term appreciation in these specific cities, so this post does not claim one. Ask your agent for multi year sales history for the exact neighborhood.
A word on mortgage rates and costs
Freddie Mac's survey of October 15, 2026 put the 30 year fixed rate at 7.40 percent, as reported by Bridge Point Business and Real Estate Advisors. Taxes are only one part of owning here. Insurance, flood and wind exposure and association fees can be significant, and Redfin rates wind risk as extreme in all six cities covered in this series.
How to decide if now is right for you
Start with your budget and your time horizon. If you plan to stay for years, short term price moves matter less than whether you can carry the payment comfortably. Get a written loan estimate, quotes for insurance, and the documents for any condo you consider.
Then compare the exact home with recent sales. The best reason to buy is not a headline. It is a home that fits your life, at a price supported by comparable sales and a payment that you can afford.
Sources: Tax Foundation, 2026 Florida Tax Rates and Rankings, and Amendment 3 analysis, October 20, 2026. Redfin housing market pages for Miami Beach, Aventura, Davie, Weston, Plantation and Fort Lauderdale, September 2026. Bridge Point Business and Real Estate Advisors, October 15, 2026. Viewed October 21, 2026.
If you're looking to buy, sell, or invest in South Florida, Dean's the one for all your real estate needs.
Dean Isenberg, call 305-929-DEAN (305-929-3326), toll-free 833-ONE-DEAN (833-663-3326), or visit ONEDean.com
