This city is well-known for its jazz, cuisine, and tourism, but the housing market has shown a very different trend from its glamorous image.

In early 2021, the median home price was around $260,000, and as of 2026, it is reported to be around $300,000. The cumulative increase over five years is estimated to be about 17%.

From 2021 to 2022, prices rose gradually, supported by a national upward trend, but since 2022, the rate of increase has noticeably slowed. The threat of hurricanes and skyrocketing insurance costs have continued to suppress buyer sentiment.

Compared to the national average increase of 35-45%, this area has shown a much more modest trend, falling short of even half that rate.

The analysis suggests that a combination of a slowly declining or stagnant population, the burden of insurance costs due to hurricane risks, and a large inventory of older homes has contributed to this situation.

The primary concern is likely, 'With insurance rates continuing to rise, will home prices also increase?' Unless the insurance market stabilizes in the future, price increases are likely to remain limited.

For Korean households, the relatively low purchase prices are an advantage, but it seems essential to factor in insurance costs and disaster risks when calculating actual living expenses.