FAQs for the Financial Strategist
Is Brevard County actually growing, or is demand cooling? Brevard is still expanding. Florida’s official demographers estimate the county’s population at ~657,000 in 2024, up ~7.8% since 2020, with continued gains projected through 2030. Growth is being powered by high-wage aerospace/defense and health care, not just retirees. This results in home prices still appreciating in value. This is one of the many reasons we always tell Buyers not to focus on how long any particular home has been on the market. That’s mostly irrelevant and the data shows that unless the home is falling apart in front of you, it will sell. They all sell. Waiting just increases the likelihood of the Murphy’s Law of Real Estate: Waiting just gives more time for competition to show up.
How are the current prices, and are they stable enough to underwrite” Overall, closing prices are appreciating slightly and not sliding backward even after price reductions. In the past, cash buyers have consistently hurt those using financing. In recent months, this as decreased significantly which means that most homes are using a mortgage and are getting appraised and underwritten successfully. Buyers have heard that it’s a “Buyer’s Market” and have come in very aggressive and slow to act. Unfortunately, this has not helped them and has caused Sellers to remain steadfast. As Realtors, we see a more even market and think that’s the healthiest. Sellers are willing to allow inspections, financed deals, and will often repair items related to safety such as electrical, plumbing, and roof issues. If Buyers offer a reasonable offer price, they are highly likely to get a great home in great condition, at every price-point.
What about rents and yield support if I ever need to pivot to leasing? The average asking rent ≈ $2,006 county-wide (July 31, 2025), ~1.5% YoY—roughly in line with the U.S. average. Melbourne’s current average is ~$2,100. For a typical SFH at $380k, even a conservative rent of $2,000–$2,200 supports a credible gross rent yield of ~6.3%–6.9% before expenses. As always, it’s prudent to model all costs for the specific property and we are happy to help you through this financial analysis.
How resilient is the local job base? Although we are “The Space Coast,” employment is diversified and trending up. As of June–July 2025, the metro’s unemployment rate is ~3.9%–4.3% (near full employment), with BLS showing stable payrolls and Florida’s workforce agency reporting a +0.7% YoY job count increase (July 2025). Major anchors include NASA/KSC, SpaceX/Blue Origin, Northrop Grumman, L3Harris, Boeing, Embraer and a sizable health-care system including Health First, Orlando Health and several independent options. All sectors with sticky capex and long histories of stability.
Are Florida property taxes really lower, and what are the homeowner advantages? Florida homeowners can claim a Homestead Exemption up to $50,000 off assessed value and then benefit from the Save Our Homes assessment cap (limits annual assessed-value growth on homesteads). The exemption is also portable—you can transfer part of the benefit to a new Florida homestead. Effective tax rates vary by city/HOA, so its good to review each area, but the structural features (exemption + cap + portability) are clear pro-owner incentives.
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What are the transaction (closing) taxes and how predictable are they? Florida’s transfer taxes are straightforward and easy to model: •Doc stamp on deeds: $0.70 per $100 of consideration paid by the Seller. (Brevard follows the statewide rate outside Miami-Dade). •Mortgage note stamp: $0.35 per $100 of the note. •Intangible tax on new mortgages: 0.20% of the principal. These state-level rates are stable and transparent—no surprise mansion taxes or bracket cliffs.
Isn’t it best to wait until the interest rates go down? Historically, when modelling the housing market and the economy since the 70’s. an interest rate in the range of 4%-6% is considered healthy to balance all factors (Buyers, Sellers, inventory, price appreciation). We are currently running between 6.5% - 7.5%, so slightly higher. Because inflation has been persistent and the introduction of tariffs has introduced unknowns, most economists are now stating that even if the FED reduces the interest rate, mortgage interest rates will either stay the same or possibly increase. Given this uncertainty, we consider all scenarios: If mortgage interest rates were decreased, it will likely not be more than a point, and it may cause home prices to increase AND competition to increase because there is a fair amount buyers in a wait-state that may become unstuck. If prices remain within the same range, the market dynamics are expected to remain the same. If mortgage interest rates increase, this would signal an economy in distress with credit card debt and private loan debt likely escalating. So what is a Buyer to do? Given that a huge decrease in interest rates is very unlikely, the best time to buy is now when the Buyer has a fair and balanced opportunity to negotiate with the Seller. This does not mean low offers are being accepted. It means reasonable offers are being accepted, safety repairs are usually addressed, and Sellers will many times (not always) cover your agent’s brokerage’s compensation. (The Brokerage where they work gets paid, then the brokerage pays the agent their split). We have found in practice over the last year or so that asking the Seller to buy down the interest rate saves the Buyer the most money, rather than asking for price reductions. We have had great success with this as the Buyer saves noticeably at the beginning of the loan when a big portion of the payment goes to interest.
Insurance: isn’t Florida uninsurable? (The uncomfortable, accurate version.) Insurance on the coast went through a period where there were few carriers which caused prices to rise. However, the state’s regulator (FLOIR) reports multiple carrier rate filings and has continued re-underwrite policies since 2023. Premiums vary widely based on roof age, wind mitigation credits, condition of the home, and flood history. Brevard is not among the state’s highest-premium counties in recent comparisons, but buyers should still know to get quotes early so they can budget for this.
What’s the market regime: seller’s, buyer’s, or balanced—and why does it matter to the value of my new home? Inventory has normalized from pandemic lows. July 2025 data shows inventory up ~15% YoY and months’ supply approximately 4.6 for single-family homes (balanced). This means that it would take about 4 ½ months to sell all of the current inventory. We are currently holding the amount of inventory we saw prior to the pandemic. In practice, this result of this is that there is a reduction in bidding wars, improves negotiation power (credits, repairs), and allows Buyers a healthier way to get a great home at today’s prices, that is likely to continue in appreciation after closing.
Can I rent out my home when I am not in Florida? This depends on the specific neighborhood and if there is a Home Owners Association governing the rental restrictions. If this is a goal of yours, we would discuss your options and the neighborhoods that would allow this. Rental restrictions run a spectrum from no restrictions to 1-year minimum rental period and everything in between.
How do Florida taxes affect the total cost of ownership? Florida has no state income tax. For W-2 earners and many retirees, after-tax housing cost and purchasing power are materially better than in high-tax states. Florida also offers a homestead extension for homeowners with a primary residence in Florida which lowers property taxes and caps any increases that can be made in the tax rate per year. In general, real estate taxes may be higher or lower depending on where you are coming from, but overall, we hear that most people are either satisfied or happy with the tax rate for primary residences. Owning a second home or vacation home is taxed at a higher rate, so it is worth analyzing all of your properties to decide which will be your primary residence.