Mortgage Calculator in Florida

Calculate your monthly mortgage payment in Florida using the 2026 median home price of $417K and current local rates. Adjust the inputs below. Formula shown, sources cited — no account required.

Florida's housing market has seen sustained price appreciation driven by migration from high-tax states. The median home price of $417,000 reflects competitive conditions in Tampa, Orlando, and South Florida, though markets in the Panhandle and rural counties remain more accessible. Property taxes average 0.89%, moderate for the Southeast. What Florida buyers must account for is the documentary stamp tax — a state transfer tax applied at closing that adds to acquisition costs beyond the 1.8% average closing cost baseline. Flood insurance also represents a significant variable cost in coastal markets, sometimes adding hundreds of dollars per month to the housing expense. The Florida Assist Second Mortgage and the HFA Preferred program provide down payment assistance for income-qualified buyers. Use the mortgage calculator with Florida's property tax rate and make sure to model insurance — both homeowner's and any required flood policy — in your monthly total.

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Florida Housing Market at a Glance (2026)

$417K

Median Home Price

6.51%

Avg Mortgage Rate

0.89%

Property Tax Rate

10%

Typical Down Payment

Buying a Home in Florida: Costs to Know

Average closing costs1.8% of purchase price

On a $417K home, closing costs â‰ˆ$7,506

Median household income$77,735/yr

State income tax (top rate)None

First-Time Buyer Programs in Florida

Florida offers state-sponsored programs that can reduce your down payment or closing costs:

✓Florida Assist Second Mortgage
✓HFA Preferred

Buying a Home in Florida: No Income Tax Advantage

A standard mortgage payment in Florida is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $417K home in Florida with a 10% down payment at 6.51% over 30 years, your principal and interest payment comes to approximately $2,375/month— not including property taxes or homeowner's insurance.

Florida's property tax rate of 0.89% adds roughly $309/month to your total housing cost on a $417K home. This rate is near the national average of ~1.1%.

Florida vs. National Average

Metric	Florida	National Avg
Median Home Price	$417,000	$420,000
Property Tax Rate	0.89%	1.07%
Avg Mortgage Rate	6.51%	6.85%
Cost of Living Index	101.4	100

Questions You Might Ask — Mortgage Calculator in Florida

What is the average mortgage payment in Florida?

Based on the median home price of $417K in Florida with a 10% down payment and 6.51% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $2,375. Adding property taxes (~$309/mo) and homeowner's insurance, total PITI is typically $2,834–$2,934/month.

What is the property tax rate in Florida?

Florida has an average effective property tax rate of 0.89%. On the median home price of $417K, that equals roughly $3,711 per year — or $309 added to your monthly mortgage payment. This is near the national average of ~1.1%.

How much down payment do I need to buy a home in Florida?

The typical down payment in Florida is 10% — about $41,700 on the median $417K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like Florida Assist Second Mortgage.

What are closing costs in Florida?

Average closing costs in Florida are approximately 1.8% of the purchase price — about $7,506 on the median $417K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in Florida?

To afford the $417K median home in Florida under the 28% housing-cost rule, you need a gross monthly income of at least $10,121 — roughly $121K/year. The median household income in Florida is $77,735.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.