How soaring home prices are pushing out the people who serve our communities — and why First Key Fund is stepping in to help.
Florida’s housing market has been heating up for years, but nowhere is the pressure more obvious than right here in Pinellas County. Once known for modestly priced coastal living, many neighborhoods throughout the county now reflect price-per-square-foot numbers that rival major metropolitan luxury markets.
And for veterans, first responders, teachers, and hardworking families, the dream of homeownership is slipping further and further out of reach.
📌 What Homes Cost Today: Price Per Square Foot in Pinellas County
Housing costs vary by neighborhood, but the countywide trend is unmistakable:
Prices are rising dramatically — often faster than incomes.
A general breakdown:
Entry-Level / Older Inland Neighborhoods
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$250–$325 per sq ft
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Typically smaller homes, older construction, farther from water
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Even these “starter” homes often exceed what many first responders or teachers can comfortably qualify for
Mid-Range Suburban Areas (Clearwater, Seminole, parts of Largo)
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$325–$450 per sq ft
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Updated homes, larger square footage, better school zones
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These neighborhoods used to be accessible to middle-income families — not anymore
High-Demand Coastal & Downtown Areas (Dunedin, Safety Harbor, St. Pete)
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$450–$650+ per sq ft
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Walkable areas, proximity to beaches, updated interiors
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A major strain on buyers trying to stay near their jobs and communities
Premium Waterfront & Luxury Zones (Beach communities, Causeway, Island enclaves)
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$700–$1,200+ per sq ft
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Many sellers now assume luxury-market pricing regardless of square footage
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These numbers simply do not align with local wages — especially public-service occupations
📈 A Market Detached From Reality
One of the most troubling patterns in recent years is the expectation gap between what homes were purchased for just a few years ago versus what homeowners now expect to sell for.
In countless examples across the county:
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A home purchased for $400k–$700k only 5 to 7 years ago is now listed for $1.2M–$1.8M,
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With price-per-square-foot increases sometimes exceeding 80% to 120%,
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Even when the home has minimal improvements.
This level of appreciation is not normal, not sustainable, and not aligned with income growth.
It’s simply market inflation, not added value.
And it’s pricing out entire groups of people who form the backbone of our communities — especially veterans, firefighters, police officers, EMTs, nurses, and teachers.
🚑 When Those Who Serve Can’t Afford to Live Here
Pinellas County depends on the very people who now cannot afford to stay:
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Paramedics driving from Hernando or Polk County
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Teachers commuting an hour each way
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Veterans competing against cash investors
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Police officers pushed into renting because their mortgage pre-approval can’t compete with inflated prices
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Nurses priced out of the cities they keep healthy
The result?
A workforce stretched thin, neighborhoods aging out, and a growing divide between income and housing availability.
Florida cannot thrive when the people who keep it safe, educated, and functioning are locked out of homeownership.
🏡 How First Key Fund Is Fighting Back
At First Key Fund, our mission is simple:
Make homeownership possible again — especially for our veterans, first responders, teachers, and hardworking families.
We do this by offering:
✔ 1% Interest Loans
Ultra-low interest so monthly payments become manageable.
✔ Zero Down Payment Options
Removing the biggest hurdle buyers face.
✔ A Sustainable Revolving Loan Program
Every loan repayment helps fund the next family — allowing the program to grow year after year.
✔ Community-Based Housing Support
We focus on helping local residents stay in the communities they serve.
💬 Why This Matters Now
As price-per-square-foot numbers continue climbing into unrealistic territory, more people are being forced out of the market entirely.
This isn’t just a financial issue — it’s a community stability issue.
Affordable homeownership:
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Builds generational wealth
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Keeps local workers local
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Reduces turnover in essential jobs
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Strengthens neighborhoods
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Protects Florida’s long-term economic health
The housing market won’t correct itself overnight.
But together, we can ensure that the people who serve our communities aren’t left behind.
📢 Join Us in Making Homeownership Possible
Whether you are a donor, a partner, or someone looking to help your local community thrive, First Key Fund is creating real solutions for real people — right here in Florida.
If you’d like to get involved or learn more about how our 1% homeownership program works, we’d love to connect.