Florida is still the state that attracts the most foreign buyers in the United States, but the 2026 market behaves differently than it did two or three years ago. Single-family home prices are holding, condos leave more room to negotiate, and mortgage rates are back near 7%. After several years of sharp price gains and bidding wars over every listing, the market has settled into a calmer phase, and that works in favor of investors who buy with the numbers in hand.
For Latin American investors looking to diversify their capital and protect their wealth, this year’s conversation comes down to two concrete decisions: what type of property to buy and where. In this guide we review the latest figures from Florida Realtors, MIAMI REALTORS and the National Association of Realtors (NAR), with numeric examples so each trend can be turned into a decision.
Florida’s market by the numbers: steady prices, slower sales
According to Florida Realtors, the statewide median price for an existing single-family home was $415,000 in September 2026, up 1.2% from a year earlier. Across the full third quarter, the median reached $420,000, a 2.4% gain. Condos and townhouses went the other way: their median fell 1.8% in September, to $293,500.
Sales volume cooled. Closed single-family sales totaled 20,537 in September, 3.5% fewer than in 2025, and pending sales dropped more than 7.5%. Florida Realtors chief economist Brad O’Connor links the slowdown to the rebound in mortgage rates.
The number that says the most is inventory. In August, active single-family listings in Florida fell 13% to about 94,610 homes, equal to 4.3 months of supply. Condos, by contrast, sat at 7.7 months. Put simply, homes are scarce and sellers hold more leverage, while condo buyers can sit down and negotiate. Are prices about to fall across the board? The 2026 data doesn’t point that way. What it shows are adjustments by segment and by area, especially in older condo buildings.
Mortgage rates and financing: what put the brakes on sales
At the start of the year, many expected rates to keep falling. They didn’t. Freddie Mac reported a 30-year fixed rate of 6.95% for the week of September 17, and that rebound explains much of the drop in pending sales. For cash buyers, the effect is close to zero. For anyone financing, it changes the return.
Financing example. A $415,000 home bought with 30% down ($124,500) leaves a $290,500 loan. At a 6.95% fixed rate over 30 years, the principal and interest payment comes to about $1,923 a month, before taxes, insurance and HOA fees. If the rate dropped to 6%, the payment would be close to $1,742. That’s $181 a month, roughly $2,170 a year, which makes a real difference in the return on a rental property.
Foreign national loans usually require larger down payments and somewhat higher rates than average, so it pays to run this exercise with a real quote before choosing the property. Condos add another filter: the lender evaluates the building, not just the buyer. According to MIAMI REALTORS, only 21 of the 2,397 condo buildings in Miami-Dade, Broward and Palm Beach are approved for FHA loans (0.9%), and since August 3, 2026, Fannie Mae has tightened its review of established condo projects.
Condos and single-family homes: two markets pulling apart
The gap between property types is probably the clearest trend of 2026. Single-family homes keep rising in price, with tight supply and steady long-term rental demand. Condos carry more inventory, pricier insurance and, in many older buildings, special assessments.
The root cause is the regulation that followed the Surfside collapse. Florida now requires periodic structural inspections and fully funded reserves in condo buildings, and many buildings with decades of use are passing the cost of catching up on to owners. A new building, on the other hand, starts with its reserves in order. That’s why, before buying a resale condo, it’s worth asking for the reserve study, the latest inspection report and the history of special assessments.
Pre-construction in Miami and Orlando: attractive entry price, tougher analysis
Pre-construction remains one of the favorite routes for Latin American buyers. In South Florida, MIAMI REALTORS reports place international buyers behind roughly half of new construction, pre-construction and condo conversion sales, with Colombia as the top country of origin for the third year in a row. In Orlando, many luxury pre-construction projects in Orlando are concentrated in master-planned communities with amenities, security and good access to the airport.
Pre-construction example. Picture a $600,000 unit with a deposit schedule of 10% + 10% + 10% + 10% over roughly three years of construction. Before delivery, you’ll have put in $240,000. If the property appreciates 3% a year over those three years, it would be worth about $655,636 at delivery. The theoretical gain of $55,636 is a 23% return on the capital deposited, before closing costs. The flip side: if prices stall, that capital sat idle without producing rent, and at delivery you’ll need to finance or pay the remaining balance. That’s why the developer’s track record, the delivery timeline and the contract terms matter as much as the price.
International buyers: lower volume, Florida still in the lead
NAR’s 2026 report on international transactions, covering April 2025 to March 2026, shows a clear pullback. Foreign buyers purchased 67,100 homes worth $45.3 billion, 14% fewer properties and 19.1% less dollar volume than the previous period. Even so, Florida kept the top spot with 20% of all international purchases, ahead of California (19%) and Texas (12%).
Two figures from the same report capture the foreign buyer well. The median price paid was $465,000, and 48% bought with cash, compared with 28% of all existing-home buyers nationwide. In addition, 56% of these purchases were made by foreigners already living in the United States on visas or as recent immigrants.
In South Florida, the international share is even larger. The latest MIAMI REALTORS profile shows foreign buyers accounted for 15% of the region’s dollar volume, with a median price of $558,700. Some 51% paid cash, and about 11% bought without ever visiting Florida.
What does this mean for you? Liquidity is still there in the areas where international buyers concentrate, such as Brickell, Downtown Miami and Miami Beach. And with less foreign competition than in past years, there’s more room to negotiate in segments where buyers used to fight over units. International demand, especially from cash buyers, also acts as a cushion when the local market cools.
Migration and population: the underlying demand is still there
Florida keeps welcoming new residents from other states and from abroad. The pace is slower than during the pandemic years, but net arrivals remain positive, and Miami ranked among the metros with the highest net inflow of homebuyers in the country in the first quarter of 2026. That flow sustains demand for both owner-occupied and rental housing, and it explains why single-family inventory keeps getting absorbed even with rates near 7%.
Luxury rentals and the $1 million plus segment
The high end plays by its own rules. In June 2026, Miami-Dade recorded 483 sales of properties above $1 million, up 29% from a year earlier, according to MIAMI REALTORS data. Many of those deals close in cash, which shields them from shifts in rates and condo financing rules.
Luxury rental demand comes from executives and professionals relocating from other states and from international tourism, which supports vacation rentals near the theme parks in Orlando and seasonal stays along the water in Miami. For investors, the key in this segment is real occupancy and the building or county rules. Many luxury condos ban rentals shorter than a set number of days, and Orange and Osceola counties have their own short-term rental regulations. A stunning property with rental restrictions can earn less than a simpler one without them.
Miami and Orlando: two markets with different logic
Florida is not one market, and in 2026 the differences between regions became more visible. In Miami, Brickell and Downtown attract most foreign investment, with new towers, proximity to the financial district and steady rental demand. The challenge is condo inventory: Miami-Dade had 12 months of condo supply in July, compared with 4.8 months for single-family homes. If you want to compare neighborhood by neighborhood, check our analysis of Miami investment areas before choosing a building.
Orlando has a more residential profile, with more accessible medians and strong demand for both long-term and vacation rentals. Lake Nona keeps growing around its medical city and master-planned communities, while Winter Park remains attractive as an established market with limited supply and well-rated schools. The city as a whole has slowed down: according to Redfin, the median sale price fell 2.5% in the three months through September, and homes take about 61 days to sell, compared with 52 days a year earlier. For buyers, that means time to compare and sellers who are more willing to give on price or closing costs.
Resilience, efficiency and technology: what moves prices today
A few years ago, energy efficiency and smart home features were extras. In 2026 they directly affect the cost of holding a property. Insurance is one of the heaviest expenses in Florida, and impact windows, newer roofs and other hurricane upgrades can qualify for premium discounts through a wind mitigation inspection.
Buyers also value smart systems for access control, climate and power usage, especially in properties rented out from a distance. An investor living in Bogotá, Caracas or Mexico City appreciates being able to check from their phone who enters the property and how much the air conditioning is costing.
Tax advantages and Amendment 3 on November 3, 2026
Florida has no state personal income tax, an advantage that remains in place in 2026. What is at stake this year is property tax. On November 3, 2026, Florida voters will decide on Amendment 3, a constitutional amendment that needs at least 60% approval to take effect.
The proposal would raise the homestead exemption, which applies to the primary residence of permanent residents, from $50,000 to $150,000 in 2027 and to $250,000 in 2028 for non-school taxes. For non-homestead properties, the category most foreign investors and rental properties fall into, it would cut the annual cap on assessed value increases from 10% to 5% starting January 1, 2027. Until the result is known, current rules stay in effect.
Assessment cap example. Picture an investment condo with an assessed value of $400,000 in an area that appreciates 12% in one year. Under the current 10% cap, the assessed value would rise to $440,000. Under a 5% cap, it would stay at $420,000. At an illustrative combined rate of 18 mills (1.8%), that $20,000 difference would mean about $360 less in tax that year, and the savings add up if appreciation continues.
Keep in mind that rental income from a U.S. property is taxed at the federal level and that, when selling, a foreign owner is subject to FIRPTA withholding. Planning the purchase structure with accounting and legal advice from the start avoids surprises when collecting rent or selling.
Mistakes that cost money in the 2026 market
The first is buying on the assumption that the appreciation of 2021 or 2022 will repeat. With medians rising between 1% and 3% a year, returns need to come from rent and from buying well, not just from appreciation. The second is treating Miami and Orlando as the same market, when they have different prices, inventory levels and tenant profiles.
The third, and maybe the most expensive, is underestimating operating costs. In an older condo, a special assessment of several thousand dollars can wipe out a year of returns. The same goes for an insurance policy that renews at a higher price or a rental restriction nobody checked before signing.
How to turn these trends into a buying decision
The 2026 numbers don’t describe a market in freefall or one in a frenzy. They describe a market that rewards analysis. If you’re buying with cash, Miami condos with healthy reserves offer negotiating room that didn’t exist in 2022. If you’re financing, single-family homes in Orlando, with medians near $405,000 and more flexible sellers, let you build more realistic rental numbers. If your horizon is five years or longer, pre-construction with a solid developer is still a way to buy at launch prices, as long as you’re clear on how you’ll pay the balance at delivery.
Before signing, it’s worth answering three questions with numbers: how much the property will cost you each month (mortgage, insurance, HOA and taxes), how much rent you can charge under the building and county rules, and what would happen to your investment if appreciation were zero for two years.
Frequently asked questions
Is Florida still a good market to invest in for 2026?
Yes, especially for investors with a medium to long-term horizon. Single-family prices keep rising at a moderate pace (+1.2% year over year in September), and condos offer more inventory and room to negotiate. The difference from past years is that results now depend more on choosing the right area and property type.
Will Florida home prices drop?
The 2026 data doesn’t show a broad decline. The statewide single-family median rose 2.4% in the third quarter, while condos show specific adjustments, sharper in older buildings with special assessments or financing restrictions.
Which is better in 2026, a single-family home or a condo?
It depends on your profile. Single-family homes have less supply and steadier prices, which favors appreciation and long-term rental income. Condos let you negotiate harder, but you need to review the building’s reserves, any pending special assessments and rental restrictions.
How does Amendment 3 affect a foreign investor?
If approved on November 3, 2026, the annual cap on assessed value increases for non-homestead properties would drop from 10% to 5% starting in 2027. That could slow the growth of property taxes on investment properties. The larger homestead exemption applies to the primary residence of permanent residents, not to rental properties.
Can a foreigner get a mortgage to buy in Florida?
Yes. There are foreign national loans that don’t require a U.S. credit history, although they usually ask for a larger down payment than a conventional loan and somewhat higher rates. With condos, the lender evaluates the building as well as the buyer.
Is it better to invest in Miami or Orlando in 2026?
Miami offers deeper international liquidity and a very active luxury segment, with higher entry prices. Orlando has more accessible medians, rental demand driven by tourism and a market that currently gives buyers more time. Many of our clients combine both cities to balance appreciation and rental income.
Your next Florida investment, backed by clear numbers
At Florida HomeGroup Realty we have guided more than 7,000 Latin American families through property purchases in Miami and Orlando, with support on foreign national financing, legal and tax advice. If you want to know which of these trends fits your capital and goals, book a consultation with our Florida investment team and let’s review real options together, with a full return analysis.
