Florida mortgage costs at a glance
The typical owner-occupied home in Florida is worth $396,900, and its owner pays $2,993 a year in property tax: 0.75% of its value, less than the 0.89% across the US. That's the 26th lowest of the 50 states and DC.
With 20% down and a 30-year loan at 7.24%, the payment on that home is about $2,635 a month: $2,164 of principal and interest, $248 of property tax and $223 of insurance. Use the calculator above to see the exact amounts for the home you’re looking at.
Sources:
- US Census Bureau: American Community Survey 2024, median home value (B25077)
- US Census Bureau: American Community Survey 2024, median real estate taxes (B25103)
- NAIC: Homeowners Insurance Report, data for 2022 (HMR-ZU), average HO-3 premium
Notes for Florida
- Property tax rates vary by county, city and school district, and many states lower the tax on a home you live in (a homestead exemption), so check the rate for the home you’re buying.
- A standard homeowners policy (HO-3) in Florida averaged $2,677 a year in 2022, against $1,569 across the US (the NAIC’s latest figures). Premiums have risen since, so get a quote for the home: costs depend on its value, age and area, and flood and earthquake cover are extra.