Sarasota
Mortgages

Sarasota by the numbers

Median prices: Florida Realtors, August 2026 metro report. Loan limits: HUD and FHFA.

The metro's median single-family price fits comfortably under Sarasota County's FHA limit, so FHA and conventional both work for most inland purchases. The keys are a different market: Lido, Bird Key, St. Armands and Longboat Key regularly run past the $832,750 conforming limit, which makes jumbo and second-home financing the norm there.

What buyers in Sarasota should know

• Flood zone comes first on the islands and bayfront. Hurricane Helene's surge in September 2024 and Hurricane Milton's landfall on Siesta Key two weeks later hit the barrier islands hardest. Ask for the elevation certificate and get a flood quote before you offer. Lenders require flood insurance on homes in high-risk flood zones.
• Older condo towers are under new rules. Downtown, Lido and Longboat buildings from the 1970s–90s are working through milestone inspections and reserve studies, and some carry large special assessments. Read the condo milestone guide before you sign.
• Vacation rentals on Siesta Key are usually financed with DSCR loans, which qualify on the property's rental income instead of yours.
• Seasonal buyers using a second-home loan must keep the home for personal use, not as a full-time rental. See the second-home guide.
• Your tax bill resets after you buy. The seller's Save Our Homes cap doesn't transfer, so budget on the new assessed value, not the seller's last bill.

Where buyers look

• Downtown and the Rosemary District: walkable condo living, from older mid-rises to new towers.
• Lido Key, St. Armands and Bird Key: island homes and condos minutes from downtown, mostly jumbo territory.
• Siesta Key: beach condos and vacation rentals. See the Siesta Key page.
• Southside Village, Cherokee Park and Gillespie Park: established in-town neighborhoods with older single-family homes.
• Palmer Ranch and Osprey: gated communities south of the city.
• Lakewood Ranch and Venice: covered on the Lakewood Ranch and Venice pages.

Homestead and property taxes

If Sarasota is your primary residence, file for the homestead exemption with the Sarasota County Property Appraiser by March 1 of the year after you close. Details in the homestead guide.