Brevard County's Remarkable Comeback: From Uncertainty to Economic Powerhouse
Once facing economic uncertainty after the end of the space shuttle program in 2011, Brevard County has transformed into one of the fastest-growing midsized economies in the U.S. Thanks to a boom in commercial space activity led by SpaceX and Blue Origin, plus growth in aerospace, defense, health care, and tourism, the Space Coast is thriving. Brevard recorded a record 93 launches in 2024 and could exceed 100 in 2025, while SpaceX plans major investments, including bringing Starship operations to the area. A new study ranks Brevard #1 in economic growth over the past five years among 100 midsized markets, and its future looks bright, with a projected Top 10 ranking this year. Growth is also fueled by a diverse mix of industries, top-tier education, and a steady influx of remote workers choosing Brevard's blend of livability and opportunity. Leaders are now focused on maintaining quality of life, investing in infrastructure, and protecting the Indian River Lagoon as the region continues to evolve into a hub of innovation and resilience.
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Home Insurance Costs Are Soaring and Buyers Are Feeling It
Home insurance is no longer just a small line item in the cost of homeownership, it’s becoming a real obstacle for many buyers. According to Zillow, average annual home insurance premiums have jumped 38% since 2019, significantly outpacing the 22% rise in household income over the same period. This sharp increase is largely due to two factors: First, home prices have risen nearly 50% since 2019, which means higher costs to repair or rebuild, and higher coverage requirements. Second, there’s been a noticeable uptick in catastrophic weather events that result in billion-dollar insurance claims, driving massive losses for insurance companies. As a result, many insurers have raised rates, tightened eligibility, or exited high-risk markets altogether. What used to be a relatively quiet part of the home buying process has now become a key factor in both affordability and availability. For prospective buyers, especially in areas prone to hurricanes, wildfires, or floods, it’s more important than ever to factor in insurance costs early in the home search process.
Inventory Is Up and Prices Are Down - A Look at Uneven
Housing Trends in 2025
As of May 2025, U.S. housing inventory remains highly uneven across states, with Florida and Texas alone making up 30% of total active listings despite comprising just 15% of the national population—both are over 30% above their May 2019 levels. Meanwhile, states like New York and Pennsylvania are still 43% below pre-pandemic inventory. Ten states, mostly in the South and Mountain West, have inventory above pre-pandemic levels, reflecting migration trends and building booms. Many of these same states—such as Colorado, Utah, and Florida—are also seeing year-over-year declines in median listing prices. Overall, 20 states have declining listing prices, and over 60% of the top 200 U.S. metro areas saw annual drops in April 2025, although most declines are modest. However, listing price data can be skewed by property mix, and more reliable price indexes still show upward trends in most major cities, with Tampa being a rare exception showing a slight dip