Despite current housing market conditions, Port St. Lucie, Florida stills remains to be a more affordable option.

Prior to The Fed hiking up interests rates, the Port St Lucie housing market was booming with home buyers migrating from further South Florida and northern states, such as New York and New Jersey.

People discovered houses are cheaper than most coastal cities in Florida. Port St. Lucie has become known as one of the most fastest growing cities with a rate of population growth at 5.2% according to the U.S. Census Bureau. Its estimated population is now more than 217,000 people.

Now that interest rates have hiked up over 6%, buyers are slowing holding back from purchasing a home. While inventory is still lower than average, homes are staying on the market longer.

Port St. Lucie still remains a more affordable place to live. A home that costs $450,000 with about 2,000 square feet would cost almost double in other neighboring cities such as Palm Beach County or Broward County.

The availability to buy a new construction home with cheaper prices is also very desirable for home buyers.

For more information about Port St Lucie real estate, visit www.TheHuberGroup.com.