CALCMONEY // HOME AFFORDABILITY // FL
Find out how much home you can afford in Florida using local median home prices, current mortgage rates, and FL-specific property tax data.
Open Full Calculator$410,000
$2,635/mo
$210,563
$112,934/yr
| Median Home Price | $410,000 |
| Down Payment (20%) | $82,000 |
| Loan Amount | $328,000 |
| Monthly PI Payment | $2,160 |
| Monthly Property Tax | $304 |
| Monthly Insurance Est. | $171 |
| Total Monthly PITI | $2,635 |
| Required Gross Income (28% rule) | $112,934/yr |
| Max Affordable Price (28% rule) | $210,563 |
$14,350
$3,361/mo
Florida Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $410,000 | State median |
| Down Payment (20%) | $82,000 | Conventional |
| Monthly PITI (median home) | $2,635 | 6.9% rate |
| Required Income (28% rule) | $112,934 | Annual gross |
| Max Affordable Home | $210,563 | Based on median income |
| FHA Down Payment (3.5%) | $14,350 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Florida is $410,000, with a current 30-year fixed mortgage rate of 6.9%. A buyer putting 20% down on the median home would carry a loan of $328,000, resulting in a monthly principal and interest payment of $2,160. Once property taxes and insurance are added, total monthly housing costs reach $2,635.
Property taxes in Florida average 0.89%, near the national average of 1.1%. On the median Florida home, property taxes add $304/month to total housing costs.
Florida has no state income tax, which increases effective take-home pay relative to higher-tax states and can improve overall buying power for FL residents.
Using the 28% rule, a household earning Florida's median income of $67,900/year can afford up to $1,584/month in total housing costs (principal, interest, taxes, and insurance). Based on Florida's current mortgage rate of 6.9% and property tax rate of 0.89%, that translates to a maximum affordable home price of approximately $210,563 with 20% down on a 30-year loan.
To comfortably afford the median Florida home priced at $410,000, you need an annual gross income of approximately $112,934. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,160, property taxes of $304, and insurance of $171) come to $2,635/month, which should not exceed 28% of your gross monthly income.
Florida's average property tax rate is 0.89%, which is near the national average of 1.1%. On the median Florida home of $410,000, that means annual property taxes of $3,649, or $304/month. Because lenders include property taxes in your debt-to-income calculation, Florida's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Florida home of $410,000, that is $14,350. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($82,000 on the median Florida home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Florida-specific minimum down payment requirements beyond federal guidelines.