Buying a Condo in Florida (2026)
Buying a Florida condo in 2026 means buying the building, not just the unit. Any building three or more stories tall gets a structural milestone inspection at 30 years and every 10 years after, and every association must fund a structural integrity reserve study with no waiver of the required components. A resale seller must hand you the milestone summary, the SIRS, the turnover inspection report, the budget and financials and the Q&A sheet, and you have seven business days after receiving them to walk away. Fannie Mae and Freddie Mac dropped the Limited Review on August 3, 2026, so every building over 10 units now gets a full financial review before a conventional loan closes. The four things to read before you write an offer: the milestone report, the SIRS, the reserve line in the budget, and the special-assessment history.
Where the condos are right now
Live counts and medians from our city condo pages. The share column is condos as a percentage of every active listing in that city, which tells you where the condo market is the market.
| City | Active condos | Median list price | Share of all listings |
|---|---|---|---|
| Miami condos (Miami-Dade) | 4,110 | $525,000 | 78% |
| Naples condos (Collier) | 1,648 | $449,950 | 89% |
| Miami Beach condos (Miami-Dade) | 1,538 | $539,950 | 96% |
| Orlando condos (Orange) | 1,257 | $198,000 | 30% |
| Fort Lauderdale condos (Broward) | 1,123 | $499,000 | 53% |
| Sunny Isles Beach condos (Miami-Dade) | 1,013 | $749,900 | 100% |
| Fort Myers condos (Lee) | 966 | $229,000 | 75% |
| St. Petersburg condos (Pinellas) | 892 | $240,000 | 37% |
| West Palm Beach condos (Palm Beach) | 880 | $195,000 | 51% |
| Hollywood condos (Broward) | 878 | $370,000 | 60% |
| Aventura condos (Miami-Dade) | 869 | $460,000 | 96% |
| Sarasota condos (Sarasota) | 855 | $429,000 | 34% |
| Boca Raton condos (Palm Beach) | 852 | $309,500 | 50% |
| Delray Beach condos (Palm Beach) | 820 | $187,950 | 56% |
| Panama City Beach condos (Bay) | 752 | $377,000 | 93% |
| Tampa condos (Hillsborough) | 747 | $245,000 | 21% |
| Pompano Beach condos (Broward) | 735 | $285,000 | 67% |
| Bradenton condos (Manatee) | 576 | $221,500 | 29% |
| Clearwater condos (Pinellas) | 576 | $199,000 | 50% |
| Boynton Beach condos (Palm Beach) | 525 | $210,000 | 39% |
| Hallandale Beach condos () | 511 | $318,000 | 93% |
| Miramar Beach condos (Walton) | 492 | $540,000 | 61% |
| Jacksonville condos (Duval) | 475 | $185,000 | 12% |
| Pembroke Pines condos (Broward) | 473 | $190,000 | 54% |
| Lauderhill condos () | 469 | $129,900 | 76% |
| Deerfield Beach condos (Broward) | 464 | $155,000 | 65% |
| Sunrise condos (Broward) | 459 | $150,000 | 68% |
| Kissimmee condos (Osceola) | 406 | $230,000 | 14% |
| Destin condos (Okaloosa) | 395 | $525,000 | 54% |
| Tamarac condos () | 361 | $160,000 | 56% |
| Daytona Beach condos (Volusia) | 355 | $169,900 | 52% |
| Bonita Springs condos (Lee) | 353 | $448,500 | 88% |
| Punta Gorda condos (Charlotte) | 318 | $271,950 | 27% |
| Margate condos () | 308 | $125,700 | 65% |
| Lauderdale Lakes condos (Broward) | 294 | $109,450 | 85% |
| Coconut Creek condos () | 293 | $200,000 | 68% |
| Coral Springs condos (Broward) | 284 | $204,900 | 48% |
| New Port Richey condos (Pasco) | 254 | $120,450 | 25% |
| Cape Coral condos (Lee) | 247 | $215,000 | 50% |
| Hialeah condos (Miami-Dade) | 243 | $247,999 | 65% |
Active condo listings and medians from the MLS feeds behind our city pages as of 2026-09-06; cities with at least 50 active condos. Listing data is deemed reliable but not guaranteed and changes daily. Each link opens the live condo page for that city.
What changed, 2022 to 2027
| When | What changed | What it means for you |
|---|---|---|
| May 2022 (SB 4-D) | Milestone structural inspections and the structural integrity reserve study (SIRS) created after the Surfside collapse | Buildings 3+ stories have an engineer's report you can read; reserves for structural items can no longer be waived |
| July 2024 (HB 1021) | Board education, records, DBPR enforcement, criminal penalties for records violations | More of the association's paper is available to you, and faster |
| July 1, 2025 (HB 913) | SIRS deadline flexibility, reserves fundable by loan or line of credit with an owner vote, a two-budget pause on reserve contributions after a milestone inspection, repairs must begin within 365 days of a Phase 2 report, resale rescission extended to 7 business days | Budgets can look artificially low for two years after an inspection; ask whether a pause is in effect |
| March 18, 2026 | Fannie Mae and Freddie Mac removed the 50% investor-concentration cap for established projects | Buildings with many rentals became financeable again if the financials hold up |
| July 1, 2026 | Master-policy per-unit deductible capped at $50,000 for agency loans; you cover the gap with your HO-6 | Ask for the master policy declarations page; a high deductible is your cost |
| August 3, 2026 | Limited Review (Fannie) and Streamlined Review (Freddie) eliminated for buildings over 10 units | Every conventional condo loan now gets a full review of budget, reserves, litigation and repairs; allow time |
| January 4, 2027 | Minimum reserve allocation for agency loans rises from 10% to 15% of budgeted assessments, unless a reserve study updated within three years is being funded at its highest tier | A building at 10% today may be non-warrantable in four months |
The documents a seller must give you, and what to read in each
| Document | Why it matters | Where the answer is |
|---|---|---|
| Milestone inspection summary (Phase 1 and any Phase 2) | Whether the structure has substantial deterioration and what repair is required | The engineer's recommendations and the repair schedule; ask for the Phase 2 if one was ordered |
| Structural integrity reserve study (SIRS), or a statement that none exists | How much the roof, structure, waterproofing, fire protection, plumbing, electrical and windows will cost and whether the reserves are on track | The funding schedule versus the current reserve balance |
| Turnover inspection report (if turned over on or after July 1, 2023) | Condition of the building when the developer handed it to the owners | Deficiencies the developer left behind |
| Most recent year-end financial statement and current budget | Reserve contributions, operating deficit, delinquency rate | The reserve line, the bad-debt line, any HB 913 reserve pause |
| Frequently asked questions and answers sheet | Leasing limits, pet rules, pending litigation, special assessments | The litigation and assessment answers |
| Declaration, articles, bylaws, rules | What you can and cannot do with the unit | Rental minimums, approval rights, right of first refusal |
| Estoppel certificate (ordered by the closing agent) | Exactly what is owed on the unit and what you inherit | Approved but unlevied special assessments |
Delivery of these documents starts your cancellation clock: seven business days for a resale contract signed on or after July 1, 2025. Do not sign a contract that has the seller delivering them after inspection; get them before you write, or make delivery the first line of the timeline.
Milestone inspections and the SIRS, in plain terms
The milestone inspection is a structural engineer's assessment of the building, required at 30 years (25 where the local building authority requires it) for buildings three or more habitable stories tall, and every 10 years after. Phase 1 is a visual inspection; if it finds substantial structural deterioration, Phase 2 tests and probes, and repairs must begin within 365 days of that report. The SIRS is the money side: a professional estimate of remaining life and replacement cost for the roof, structure, fireproofing, plumbing, electrical, waterproofing and windows, with a funding schedule the association may no longer waive. Read them together. A clean Phase 1 with an underfunded SIRS is a building that will be fine structurally and expensive to own; a Phase 2 with a signed repair contract and a funded assessment is often a better buy than a building that has not inspected at all.
Financing a Florida condo in 2026
| Financing route | What the building must show | Typical use |
|---|---|---|
| Conventional (Fannie Mae / Freddie Mac) | Full review: reserves at 10% now and 15% from January 4, 2027 (or a funded reserve study), no critical repairs outstanding, adequate insurance with a per-unit master deductible under $50,000, litigation reviewed, owner-occupancy and delinquency within limits | Most buyers with 3% to 20% down |
| FHA | Building on the HUD approved list or single-unit approval; owner-occupancy and reserve tests similar in spirit | First-time buyers with 3.5% down |
| VA | VA-approved project; no down payment, no monthly mortgage insurance | Eligible veterans |
| Portfolio / non-warrantable | Lender's own rules; higher rate and down payment | Buildings that fail agency review, condotels, heavy-rental buildings |
| Cash | Nothing, which is why it dominates in older coastal buildings | Investors and second-home buyers |
The practical consequence of the August 2026 change is time and certainty: the lender's project review now happens on every conventional condo loan, and a building that fails cannot be fixed inside your contract window. Have the agent confirm warrantability, or get the building's most recent lender questionnaire, before you go under contract, and put a financing contingency in the offer that names the review.
Insurance: the master policy and your HO-6
The association insures the building under a master policy; you insure the interior, your contents, loss assessment and the master deductible gap under an HO-6. Since July 1, 2026, agency loans require the master policy's per-unit deductible to be no more than $50,000 and your HO-6 to cover the gap, so ask for the master declarations page and get an HO-6 quote on the actual numbers before the inspection period ends. Roof age drives both premiums; a building past its roof's insurable age will show it in the master premium and in the special-assessment history.
Estoppel certificate: what you inherit at closing
| Estoppel item | 2026 cap (adjusted for inflation by DBPR) |
|---|---|
| Standard certificate | $299 |
| Expedited, delivered within 3 business days | up to $119 additional |
| Unit with a delinquent balance | up to $179 additional |
| Delivery deadline | 10 business days from request |
| Valid for | 30 days delivered electronically or by hand, 35 days by mail |
Red flags that end the deal
- A building 3+ stories past its 30th year with no completed milestone inspection on file, or a Phase 2 ordered and no repair contract signed.
- A SIRS funding schedule the current budget does not meet, or a budget that says reserves are paused after a milestone inspection without saying what the repairs will cost.
- Special assessments approved but not yet levied: the estoppel will show them and you will pay them.
- A master policy with a per-unit deductible you cannot cover, or a roof past the age Citizens and the private carriers will insure without an inspection.
- A delinquency rate over roughly 15% of units, pending structural litigation, or a single owner holding a large block of units.
- Association fees that look low for the building's age. In a post-2025 Florida budget, low is not a feature.
Questions condo buyers ask
What documents must a condo seller give a buyer in Florida?
How long do I have to cancel a Florida condo resale contract?
What is a Florida condo milestone inspection?
What is a SIRS and why does it matter to a buyer?
Can a Florida condo association pause reserve contributions?
Why did my condo loan get denied on the building, not on me?
Who pays the estoppel fee in Florida?
Is now a good time to buy a condo in Florida?
Read next
- Homes for sale in Florida by city and county
- Miami condos for sale
- Naples condos for sale
- Miami Beach condos for sale
- Orlando condos for sale
- Fort Lauderdale condos for sale
- Sunny Isles Beach condos for sale
- Fort Myers condos for sale
- St. Petersburg condos for sale
- First-time home buyer guide for Florida
- Florida down payment assistance, all 67 counties
- Florida homeowners insurance: where it stands
- The Florida property tax reset explained
- Seller net proceeds calculator
EAB RE Investments LLC dba Momentum Realty is a Florida real estate brokerage, not a law firm, lender or engineer. Statutory references are to Chapters 553 and 718, Florida Statutes, as amended through HB 913 (effective July 1, 2025), and to Fannie Mae and Freddie Mac project-review announcements as published; figures are as of 2026-09-06 and change. This page is general information, not legal, lending or engineering advice; a Florida real estate attorney and a participating lender are the right sources for your transaction. Listing data deemed reliable but not guaranteed. Equal Housing Opportunity.