Florida housing supply makes gains in parts of Florida

Homebuyers in Miami, Tampa, Orlando and Jacksonville saw more affordable listings over the past year, while Miami and Jacksonville also made progress in reducing their housing shortages, according to a new Zillow analysis.

The share of listings considered affordable improved in all four Florida markets between May 2025 and May 2026, Zillow found. Jacksonville posted the highest share, with 33.3% of listings considered affordable, up from 29.3%. Tampa followed at 32.3%, up from 27.1%.

Orlando’s share rose to 27.6% from 23.1%, while Miami increased to 28% from 24.1%.

Zillow considers a listing affordable when a household earning the metro area’s median income would spend no more than 30% of its income on the monthly mortgage, assuming a 20% down payment.

Florida also saw some encouraging movement in its housing supply, the Zillow report found.

Miami’s housing deficit narrowed by 3,642 units to 68,324, while Jacksonville’s declined by 2,915 units to 10,328.

The gap grew in the other two metros included in the report. Orlando’s deficit increased by 6,000 units to 30,402, while Tampa’s rose by 678 units to 33,878.

Nationally, the housing deficit held near 4.7 million units in 2024, growing by about 43,000 homes. That was a much smaller increase than in the previous two years.

Zillow said new construction helped housing supply nearly keep pace with demand. The country added about 1.4 million housing units in 2024, supported by the highest number of newly completed multifamily homes in 50 years.

“The country is not yet building its way out of the hole, but we stopped digging,” said Orphe Divounguy, senior economist at Zillow.

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