Florida is known across the US for its picturesque beach towns and retirement hotspots.
But the coastal town of St Augustine has managed to remain under the radar, earning it the title of America’s ‘best kept secret’ by real estate experts.
The historical Southern city, which was founded in 1565 – making it one of the oldest in the country – stands in marked contrast to the new developments rising across Florida.
Home prices in the city are significantly lower than in other coastal areas in the state, broker Jennifer Bryndal told Mansion Global.
However Bryndal, from agency Engel and Völkers in the area, said she expects prices to soar.
‘I believe we are the nation’s best-kept secret,’ she told the outlet.
‘As we appear on so many top-10 travel lists, we are growing fast.’
The average home in St Augustine is worth $443,043, according to housing marketplace Zillow. This is up from $286,377 five years ago.
The coastal town of St Augustine has managed to remain under the radar, earning it the title of America’s ‘best kept secret’ by real estate experts
The city, which is around an hour’s drive from Jacksonville, was established by Spanish colonists.
It is known for its Spanish colonial architecture, as well as its beautiful beaches on the Atlantic coast.
‘It’s a delightful little city by the sea,’ said Bryndal.
The city has also gone to great lengths to preserve its architectural heritage and beauty, including a rule which bans residences, including condos, from rising higher than three stories.
‘Compared to other coastal cities, St Augustine is truly a unicorn,’ Elizabeth Jennings, a global real estate advisor at ONE Sotheby’s International Realty, told Mansion Global.
‘When you think of the oldest [areas] in America, most people picture Virginia or New England.
‘We have a vibrant, historic district paired with beautiful beaches, warm weather, small-town vibes and an impressive culinary scene.’
The city is witnessing significant migration from people around the country, she said, which is driving up home values.
Home prices in the city are significantly lower than in other coastal areas in the state, said broker Jennifer Bryndal
The historical Southern city, which was founded in 1565 – making it one of the oldest in the country – stands in marked contrast to the new developments rising across Florida
The city has also gone to great lengths to preserve its architectural heritage and beauty, including a rule which bans residences, including condos, from rising higher than three stories
She points in particular to the neighborhood of West Augustine, which she calls ‘a little pocket town like Brooklyn’ in New York City, where she expects home prices to double or even triple in the next five to 10 years.
It is a prime neighborhood for growth, she said, because ‘we have new breweries, yoga studios, boutiques, cafes and distilleries popping up – and there are big plans to connect West Augustine with downtown. The opportunities are endless.’
St Augustine was also recently ranked fifth on a list of the most welcoming places on earth for 2025.
The ranking was drawn up by Booking.com, with entries identified based on the number of Traveler Review Awards each place has.
The rise in home values in St Augustine is in marked contrast to other parts of Florida, where values are flatlining after falling last year.
Florida has been building a lot of homes, which is limiting price growth, and an insurance and climate crisis has put many house hunters on edge.
Buyer demand is also lackluster because many people have been priced out of pandemic homebuying hotspots.
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