Buying a Condo in Florida: Prices, Costs, and What to Check First

Buying a condo in Florida is one of the easier ways to own near the coast without the upkeep of a single-family yard. It is also a purchase that changed a lot after 2021. New state laws now require older buildings to inspect their structure and fund their reserves, which affects both your monthly dues and what you should ask before you sign. Here is what a condo in Florida really costs in 2026 and the checklist that protects you.

Key Takeaways

• Florida's statewide median condo-townhouse sale price ended 2025 at $310,000, down 4.7% year over year (Florida Realtors).
• Older buildings now owe a milestone structural inspection (at 30 years, or 25 within three miles of the coast) and a funded reserve study.
• Monthly dues plus possible special assessments matter as much as the sticker price, especially in older coastal towers.
• Before you buy, confirm the building's inspection status, reserve funding, and any planned assessments.

What a condo in Florida costs in 2026

Statewide, the median existing condo-townhouse price closed 2025 at $310,000, down 4.7% from the year before, on about 88,793 sales (Florida Realtors). Prices have softened more in some South Florida submarkets: Broward County's median existing-condo price was roughly $257,000 in December 2025, down about 9% year over year (MIAMI Realtors). For buyers, that softening means more room to negotiate than the frenzy years allowed, particularly on older units that need updating.

Price is only the starting point. With a condo you also buy into a shared budget, so the monthly fee and the building's financial health move the true cost up or down.

The costs that surprise condo buyers

Two line items catch people off guard. The first is the monthly association fee, which covers building insurance, shared maintenance, amenities, and reserves. Fees vary widely by building age, amenities, and how well the reserves are funded. The second is a special assessment, a one-time charge the association can levy to cover a major repair or to top up reserves. After the Surfside collapse, older coastal buildings have seen both monthly dues and special assessments rise to meet new reserve rules.

Insurance is the other moving part. Florida's average home insurance premium reached about $8,292 in 2025, an 18% jump over 2024 (Insurify). A condo's master policy covers the structure, but you still carry an interior HO-6 policy, and that premium has climbed too. Our guide to condo insurance in Florida walks through what each policy covers, and what HOA and association fees cover breaks down the monthly bill.

The new rules: milestone inspections and reserve studies

This is the part that did not exist a few years ago. Florida now requires condo and co-op buildings three stories or taller to complete a milestone structural inspection. The first inspection is due by December 31 of the year the building turns 30, or 25 if it sits within three miles of the coastline, and then every 10 years after (Florida DBPR).

Buildings must also complete a Structural Integrity Reserve Study, or SIRS, that sets how much the association must save for major components like the roof, structure, and waterproofing. Associations existing on or before July 1, 2022 had until December 31, 2025 to finish the SIRS, with reserve funding generally beginning January 1, 2026 (HB 913, 2025). A 2025 update gave associations some flexibility to phase in funding while they pay for milestone repairs, but the direction is clear: older buildings must put real money toward their structure.

Your pre-purchase checklist for a condo in Florida

Before you write an offer, ask the association or seller for answers to four questions:

• Has the milestone inspection been completed, and did the building pass?
• Is the SIRS done, and are reserves funded to match it?
• Are any special assessments voted, planned, or under discussion?
• What is the current reserve balance and this year's budget?

A unit can look perfect while the building behind it carries a six-figure repair bill. Those answers tell you whether the low price is a deal or a warning. When you are ready, browse South Florida condos and run your numbers against real Florida closing costs.

Shopping for a condo in South Florida? Pure Equity Realty will pull the building's inspection and reserve status before you fall in love with the view. Talk to us or start with our condo collection.

Frequently asked questions

Is buying a condo in Florida a good investment in 2026?

It can be, especially with prices softer than the 2021 to 2022 peak. The key is the building's finances. A well-funded association with a passed milestone inspection protects your value; an underfunded older building can hand you a large special assessment.

What are the new condo inspection rules in Florida?

Buildings three stories and up must complete a milestone structural inspection at 30 years (25 near the coast) and a Structural Integrity Reserve Study that requires funded reserves. Ask any building for its current status before you buy.

How much are condo HOA fees in Florida?

They vary widely by building age, amenities, and reserve funding, and older coastal buildings have seen fees rise to meet the new reserve rules. Always review the budget and reserve study, not just the monthly number.

Sources

• Florida Realtors (2025 year-end condo prices); Florida Senate HB 913 and Florida DBPR (milestone inspections, SIRS); Insurify (insurance premium).

Published June 25, 2026. General information, not legal or financial advice; confirm current law and building specifics with the association and your attorney.