According to the latest National Association of Realtors® (NAR) survey, foreign buyers purchased 78,100 U.S. homes between April 2024 and March 2025, spending a combined $56 billion — a 44% jump from last year.
And when Canadians head south, there’s no question where they’re landing: Florida.
Florida Remains the #1 Choice for Canadians
Nearly half of all Canadian purchases (48%) in the U.S. last year were in Florida. Whether it’s a vacation getaway, retirement haven, or rental investment, Canadians overwhelmingly choose the Sunshine State for its:
- Year-round sunshine ☀️
- Beaches, golf courses, and leisure living
- Lower property prices compared to Toronto, Vancouver, and other Canadian hubs
- Strong rental demand in resort and coastal areas
Other popular destinations include Arizona (12%) and California (9%), but Florida continues to dominate thanks to lifestyle and affordability advantages.
What Canadians Are Buying
The survey shows that Canadians are focused on lifestyle-driven properties:
- 49% bought primarily for vacation use — the highest among all foreign buyers
- Condos and townhomes are especially popular for low-maintenance living
- 17% purchased in resort areas, close to beaches, golf, and attractions
The average Canadian purchase price fell to $437,500 in 2025 (down from $548,600 in 2024), suggesting buyers are becoming more selective and price-conscious.
Why U.S. Real Estate Still Looks Affordable
Even as U.S. home prices edge higher — the median existing-home price hit $414,000 in April 2025 — properties remain far more affordable compared to Canadian markets, where average prices in Toronto and Vancouver remain out of reach for many families.
With U.S. mortgage rates still high, many Canadians are paying cash:
- 57% of Canadian buyers in 2025 purchased without financing
- Cash avoids high U.S. borrowing costs but can be tough with a weaker Canadian dollar (0.715 USD/CAD in April 2025)
That’s why financing through a U.S. lender — rather than converting a large lump sum — is becoming an attractive strategy for many Canadian buyers.
How Lendworth USA Helps Canadians Buy in Florida
At Lendworth USA, we specialize in helping Canadians and foreign nationals finance U.S. property purchases without needing U.S. credit history. Our programs include:
- Foreign National Mortgages – competitive terms, no U.S. credit required
- Equity-based lending for fast, flexible approvals
- Vacation and investment property financing for condos, townhomes, and single-family homes
- Cross-border expertise — making the process smooth from Toronto to Tampa
The Bottom Line
Despite currency headwinds, high interest rates, and rising insurance costs, Canadians are still chasing sunshine, affordability, and lifestyle opportunities in Florida. For many, U.S. real estate isn’t just about buying a second property — it’s about securing long-term value and quality of life.
📞 Contact Lendworth USA today to explore mortgage options tailored for Canadian buyers. Whether you’re dreaming of a condo in Miami, a golf villa in Naples, or a vacation rental in Orlando, we’ll help you make it happen.