Florida Mortgage Calculator
Estimate your monthly mortgage payment in Florida with local property taxes built in. The typical Florida home costs around $400,000, and the state's effective property-tax rate of 0.86% is below the U.S. average.
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Switch to biweekly payments
Half your payment every 2 weeks = one extra payment a year.
Add an extra payment
Set an "extra payment / mo" above to see the impact here.
Enter an extra monthly amount to see how much interest you'd save.
Amortization schedule
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Property taxes in Florida
Florida's effective property-tax rate is about 0.86% of a home's value each year — lower than the U.S. average of 1.1%. On the state's median home price of $400,000, that works out to roughly $3,440/year ($287/month) added to your payment.
For the full formula and a worked example, see the main Mortgage Calculator.
Buying a home in Florida
At a median price of $400,000, homes in Florida are about 5% more affordable than the U.S. median of $420,000. On a typical purchase with 20% down on a 30-year loan around 6.5%, the principal and interest comes to roughly $2,023/month. Adding Florida's property tax of about $287/month brings the housing cost to around $2,310/month before homeowners insurance, any HOA dues and — if you put down less than 20% — PMI. Because Florida's effective property-tax rate (0.86%) is below the national average, taxes here weigh more lightly on your monthly budget than in most states. Use the calculator above to swap in your own price, down payment and rate, and the local tax figure will adjust the total for you.