North Florida Real Estate Update | November 4, 2026

A quick look at what's new in our area and the housing market this week.

Florida voters pass Amendment 3

Amendment 3 passed with 62% of the vote. It raises the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028. People who become Florida residents after December 31, 2026 wait five years for the larger exemption. Source: CBS Miami

Mortgage rates ease a little

Freddie Mac reported the average 30-year fixed rate at 7.24% for the week of October 29, down from 7.32% the week before. Source: Realtor.com

Safer streets coming to West Tharpe Street

Tallahassee's Blueprint agency secured a $23.5 million federal grant for sidewalks, turn lanes and drainage on Tharpe Street from Ocala Road to Mission Road. Construction is expected to begin in 2030. Source: Tallahassee Reports

New homes planned in Gainesville

Gainesville won $25 million in federal funding to bring hundreds of new affordable homes to the Lake Terrace and Pine Meadows neighborhoods. Source: Gainesville City Commissioner Bryan Eastman

Rents level off nationally

National rents rose 0.1% over the past year in October, the first increase since mid-2023, and many properties are still offering move-in specials. Source: Chandan Economics

Thinking about buying, selling or renting in North Florida? I'm always happy to talk it through.

Camille Duke
Licensed Florida Real Estate Broker | Jeep Girl Realty, Inc. | BK3323552