Florida is experiencing a significant decline in home values nationwide.
The state experienced strong growth of nearly 47% over five years, but is now undergoing a sharp correction as prices retreat from their peak in August 2024.
Zillow, an online real estate marketplace in the US, examined housing data from 2020 to 2025 to determine which states saw the biggest changes in property values over the past one and five years.
According to Zillow’s Home Value Index metric, which estimates typical home values in an area by averaging monthly Zestimate values, the average home value in Florida in August 2024 was $398,475.
In August 2025, that home value had fallen to $378,031. The dollar has depreciated by $20,444 in one year.
The 5-year change from 2020 to 2025 is 46.76%.
Nationally, the average home price in 2020 was found to be $267,853, increasing to $372,238 in 2024 and $375,810 in 2025.
Home warranty specialist Cinch Home Services said markets like Florida are adjusting after years of rapid price increases.
The company also said it will be interesting to see how all these values change heading into 2026, as Zillow already predicts home prices nationwide will fall 0.9% by the end of the year. ”
