CALCMONEY // HOME AFFORDABILITY // FL // CAPE CORAL
How much house can you afford in Cape Coral? Based on local median home prices, current FL mortgage rates, and Cape Coral property tax data.
$380,000
$2,493/mo
$106,842/yr
$194,700
Monthly housing costs of $2,493 represent 46.0% of Cape Coral's median gross monthly income ($5,417/mo). At 46.0%, median-income buyers in Cape Coral are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $380,000 |
| Down Payment (20%) | $76,000 |
| Loan Amount | $304,000 |
| Monthly PI Payment | $2,002 |
| Monthly Property Tax | $333 |
| Monthly Insurance Est. | $158 |
| Total Monthly PITI | $2,493 |
| Housing Cost % of Income | 46.0% |
| Required Income (28% rule) | $106,842/yr |
| Max Affordable Home | $194,700 |
$13,300
$3,166/mo
Cape Coral Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $380,000 | Cape Coral city median |
| Down Payment (20%) | $76,000 | Conventional loan |
| Monthly PITI | $2,493 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $106,842 | Annual gross |
| Max Affordable Home | $194,700 | Based on median income |
| FHA Down (3.5%) | $13,300 | Minimum FHA |
| Housing Cost % of Income | 46.0% | Median income: $65,000/yr |
| Property Tax Rate | 1.05% | $3,990/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Cape Coral is $380,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $304,000, generating a monthly P&I payment of $2,002. Adding property taxes ($333/mo) and homeowners insurance ($158/mo) brings total monthly PITI to $2,493.
Cape Coral's property tax rate of 1.05% is near the national average, adding a standard increment to monthly housing costs. On the Cape Coral median home, that is $333/month, or $3,990 per year.
Florida has no state income tax, improving effective take-home pay for Cape Coral residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Cape Coral's median income of $65,000/year can afford up to $1,517/month in total housing costs. Based on Cape Coral's mortgage rate of 6.9% and property tax rate of 1.05%, that translates to a maximum affordable home price of approximately $194,700 with 20% down on a 30-year loan.
To afford the median Cape Coral home priced at $380,000, you need an annual gross income of approximately $106,842. Total monthly housing costs (principal and interest of $2,002, property taxes of $333, and insurance of $158) come to $2,493/month, which equals 28% of the required income.
At the median home price of $380,000 and median household income of $65,000, the total monthly housing cost of $2,493 represents 46.0% of gross monthly income. This is well above the standard 28% threshold, making Cape Coral a challenging market for buyers at median income.
A conventional 20% down payment on the median Cape Coral home of $380,000 is $76,000. An FHA loan requires just 3.5% down — $13,300 — but adds mortgage insurance of roughly $260/month, bringing total FHA payments to $3,166/month.