Arcadia, Florida

Arcadia (population 7,800) is a quiet, rural town in southwestern Floria, about an hour east of Sarasota's sugar white beaches. It is in a region known for its Florida Cracker (cowboy) culture.

Tourists wander into Arcadia for its downtown row of antique stores as well as the 4th Saturday Antique Fair that the antiques' association holds every month. Locals also enjoy a handful of rodeos, the county fair, holiday parades and a fun annual watermelon festival.

The nearby Peace River is a perfect spot for canoeing, kayaking and camping. Its banks attract fossil hunters in search of ancient sharks' teeth.

Neighborhoods are modest, dappled with palm trees and tall oaks. Orange groves and woods dot the surrounding landscape.

Cost of Living

Arcadia is an affordable town with an overall cost of living 19% less than the national average.

The town is 38% less expensive than Destin, Florida, 4% less expensive than St. Marys, Georgia and 285% less than Carmel, California.

The median household income is $27,442.

Real Estate

The median home value in Arcadia is $134,202. This is a 4.5% increase over the previous year. For comparison, the national median home price is currently $248,850.

Estimates are that Arcadia values will decline by 1.5% over the next year.

The median rental price is $635 per month.



Arcadia has grown by 4% in the last decade.


The combined sales tax rate for Arcadia is 7.5%. This is the total of state, county and city sales tax rates.

Florida has a 6% state sales tax on vehicle purchases. DeSoto County does not publically state what its vehicle tax rate is.

Florida's property tax homestead exemption reduces the assessed value of a home by $50,000, so a residence that is really worth $100,000 is only taxed on $50,000. Residents age 65 and older who meet certain income limits may receive an extra homestead exemption of up to $50,000.

The property tax rate is approximately $1,040 per $100,000 in assessed value. The taxes on a $134,202 home are approximately $1,393 without a homestead exemption.

Florida does not tax Social Security.

Desire a Nicer Home Without a Mortgage Payment?

If so, consider a Home Equity Conversion Mortgage (HECM) for Purchase. This is a reverse mortgage that lets people age 62+ purchase a new home by using a reverse mortgage.

How does it work? Buyers must put down approximately 45% to 62% of the new home's purchase price, depending on the buyer's age and other factors. This money usually comes from the buyer selling his current home. The rest of the purchase funds come from the HECM loan.

For example, a person sells his home and nets $250,000 from the sale. With a HECM for Purchase Loan he can then buy a new $450,000 home by putting down $225,000 (50%), keeping $25,000 cash in his pocket and financing the remaining $225,000 home price with the reverse mortgage loan. Best yet, the buyer will have no monthly mortgage payments.

Talk to a reputable reverse mortgage lender for more information.



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