Location inside a FEMA flood zone drives most of the gap. Barrier island properties on Siesta Key, Lido Key, Longboat Key, and Casey Key are commonly in AE or VE zones, which require flood insurance on any federally backed loan and can carry annual premiums from twenty-five hundred to fifteen thousand dollars or more depending on elevation. Mainland and inland Sarasota properties are more often in Zone X, where flood coverage is optional and cheaper.
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