Florida Mortgage Calculator
This planning example uses a $396,900 home value—the 2024 ACS median for owner-occupied homes in Florida—with 20% down and a 30-year fixed mortgage. The rate is the Freddie Mac national weekly average as of August 6, 2026; it is not a Florida rate, a personal quote or an offer to lend. Customize the inputs with a property-specific tax bill, insurance quote and lender rate.
State planning scenario
| Down payment (20%) | $79,380 |
|---|---|
| Mortgage principal | $317,520 |
| 30-year fixed rate | 6.69% |
| Principal & interest | $2,046.78/month |
| Property tax | $249.42/month |
| Homeowners insurance | $223.08/month |
| PMI | $0.00/month |
| HOA dues | $0.00/month |
| Estimated total | $2,519.28/month |
PMI is $0 in this example because the starting loan-to-value ratio is 80%. Change the down payment in the calculator to model a higher LTV. HOA dues default to $0 because there is no reliable statewide amount.
What is localized for Florida?
| Median owner-occupied home value | $396,900 (ACS 2024) |
|---|---|
| Property-tax planning proxy | 0.75% (ACS 2024) |
| Annual HO-3 insurance average | $2,677 (NAIC 2022) |
The tax percentage is median annual real-estate taxes paid divided by median home value. It is a ratio of statewide medians—not a statutory rate or a parcel-level effective rate. The insurance figure is a historical statewide average across policies and coverage amounts, not a current quote. Flood, earthquake, wind or other separate coverage may not be included.
How Florida compares with the rest of the country
The median owner-occupied home in Florida is 10% above the national median of $360,600, which makes it the 19th-most expensive state of the 50. The property-tax proxy ranks 26th and the homeowners-insurance average ranks 1st. Together, taxes and insurance account for 19% of the monthly payment modelled above.
| Planning input | Florida | National | Rank |
|---|---|---|---|
| Median home value | $396,900 | $360,600 | 19th |
| Property-tax proxy | 0.75% | 0.89% | 26th |
| Annual insurance average | $2,677 | $1,569 | 1st |
Rank 1 is the highest of the 50 states. Carrying the payment above at the standard 28% front-end ratio takes roughly $108,000 of annual household income before other debts — see house affordability by income to work backwards from what you earn.
States with a similar median home value: Delaware, Alaska, Connecticut, Virginia.
What to check before trusting this estimate in Florida
Insurance is expensive in Florida — 1st of the 50 states, averaging $2,677 a year. In the states where premiums run this high, availability is often the real problem: carriers restrict new business in exposed areas, deductibles for named storms or hail are set as a percentage of the insured value rather than a flat sum, and flood is never included. Get a quote for the specific address during your inspection period, not after closing.
Homebuyer resources in Florida
Florida Housing Finance Corporation is the state's housing finance agency. Programs, funding, income limits, purchase-price limits and eligibility can change; verify details directly with the agency before relying on them.
2026 county loan limits
In most of the United States, the 2026 one-unit conforming baseline is $832,750, with a general high-cost ceiling of $1,249,125. The general one-unit FHA floor is $541,287 and the general ceiling is $1,249,125. County limits vary, and higher special statutory limits apply in Alaska and Hawaii. Check the property county in the FHFA conforming-limit files and HUD's FHA limit lookup.
Sources and limitations
- U.S. Census Bureau ACS, median home value
- U.S. Census Bureau ACS, real-estate taxes paid
- NAIC homeowners insurance report
- NCSHA state housing finance agency directory
Review our calculator methodology and test examples and source definitions and formula changelog. Replace every default with a property tax bill, insurance quote and lender Loan Estimate before making a decision.
