The desire for more space both inside and outside the home has increased for many Americans since the beginning of the pandemic. In addition to this additional space, most Americans also desire to have their personal freedoms. It is largely due to this desire for freedom from restrictive mandates that many Americans have relocated to Florida over the past few years. Of course, there is only so much space in the state of Florida for the estimated 1,000 people moving to The Sunshine State each day.
The average lot size in Florida
According to a study of homeownership and land use by HouseMethod, based on data from the U.S. Census Bureau, the average lot size in the U.S. is 25,240 square feet. Of course, this figure includes the square footage of both the house and yard. At the same time, houses are also getting bigger. Consequently, yards are getting smaller. So how do Florida lots compare to the rest of the country? Well, on average, Florida’s yard sizes are among the smallest in the U.S. While the average lot size in the U.S. is 25,240 square feet, Florida yards average about 11,043 square feet per home. Needless to say, this is less than the average lot size in the country. As expected, the influx of Americans moving to The Sunshine State is resulting in increased development. As a result, more planned communities with zero lot lines and smaller yards have been constructed in recent years in order to keep up with the demand.
The price per square foot mentality
In recent years, a difference in home buyer philosophy has resulted in larger homes being constructed. In a nutshell, more buyers have stopped thinking of houses as homes and instead as investment opportunities. Therefore, a shift in the mindset for buyers has focused more on the price per square foot of properties. As a result, there has been a push for larger homes being built at the expense of yard space. In other words, the larger the home the greater the resale potential.
With the home playing more critical roles for Americans in the post-pandemic roles, it is not surprising to see that homes are getting larger while yards are getting smaller. As with anything, it is important to find a balance between the two. For example, in markets such as South Florida, usable outdoor space is still very important to most home buyers. In addition, it is important to not solely focus on the price per square foot of a home. As always, it is recommended that you consult a local and knowledgeable real estate agent to better guide your decisions. Do you have questions about the South Florida real estate market? Contact Natasha today! Also, be sure to download our free Florida Home Search app for your mobile device. In this app, you will be able to search the entire South Florida MLS and also contact our team directly through the app with any questions.