Florida has been one of the fastest-growing states in recent years, with an average population growth of between 350,000 and 375,000 per year over the past decade, according to U.S. Census Bureau data. Migration has been significant over just the past year, with Florida experiencing a population gain of 467,347 from 2023 to 2024.
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One of the reasons many people move to Florida is the lack of state income tax, which can provide a much-welcome tax break for many Americans. However, if saving money is the main reason you’re considering relocating to Florida, you may have some better options.
The median home value in Florida is currently $387,464, which is slightly above the U.S. median of $349,225, according to Experian. But there are several states where you can pay less for a home and pay $0 in income taxes.
Here are the states with no income taxes and cheaper homes than Florida.
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Alaska
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Median home value: $371,807
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South Dakota
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Median home value: $195,947
Tennessee
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Median home value: $224,239
Texas
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Median home value: $303,321
Wyoming
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Median home value: $357,698
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This article originally appeared on GOBankingRates.com: Florida Alternatives: 5 States With No Income Tax and Cheaper Homes
