ST. JOHNS COUNTY, Fla — The median price for a home in St. Johns County is now more than half-million dollars. And still, it is one of the fastest growing counties in the United States.
The median price for a single family home in March was $558,700 according to the Northeast Florida Association of Realtors.
That's up almost 16 percent over the month before. And it’s about $200,000 more than Duval and Clay counties.
This means if a family puts down 20 percent of the cost and gets a 30-year loan with an interest rate of 5 percent, the monthly mortgage would be $3,035.
And if they’re going to spend the suggested 30 percent of their income on housing, they’d have to make $121,400 a year.
That is not the case for many people in the workforce.
According to U-S Census data, the median household income for a family in St. Johns is $77,323.
But still, the demand for a home in St. Johns County is high while the supply is low, even with all the new neighborhoods being built and approved at rapid rates.
There was a 7.2 percent drop in houses on the market from February to March in the county.
"We have a low inventory problem," Realtor Kathleen Floryan in St. Johns County said.
“People can’t find a house to buy, and if they find a house to buy, they’re getting what I’m calling buyer exhaustion. Which they’re exhausted trying to find something and fighting for the property," Floryan said.