Buying in Florida: what the numbers look like
Florida sits mid-pack for property taxes — 0.71% average effective rate (30th of 50, national average ≈ 0.94%), which works out to about $2,840 a year on the typical $400,000 home. On the insurance side, Florida homeowners average about $5,735 a year — 114% above the 50-state average, so get quotes early; the premium can move a deal's math. Hurricane exposure makes Florida one of the most expensive states to insure a home; many owners carry separate windstorm and flood policies.
Put together at an illustrative 6.5% rate (30-year, 20% down), the typical Florida purchase pencils out near $2,737/month: $2,023 principal & interest + $237 tax + $478 insurance. That's the number the calculator above starts from — swap in your real price, rate quote, and county figures to make it yours.
Property taxes & closing costs in Florida
The homestead exemption removes up to $50,000 of assessed value and the Save Our Homes cap limits assessment growth to 3%/year for primary residences.
Transfer tax: Documentary stamp tax of $0.70 per $100 (0.7%; Miami-Dade differs). Closing costs also include lender, title, and recording fees — typically 2–5% of the price all-in.
Florida at a glance
| Typical home value (Zillow, 2025) | $400,000 (18th highest) |
| Avg. effective property tax (2023) | 0.71% ≈ $237/mo |
| Avg. home insurance (2025) | $5,735/yr ≈ $478/mo |
| Example payment (typical home, 6.5%, 20% down) | $2,737/mo |
Frequently asked questions
How much is the mortgage payment on a typical Florida home?
The typical Florida home runs about $400,000 (Zillow, 2025). With 20% down ($80,000) on a 30-year loan at an illustrative 6.5% rate, the full monthly payment is roughly $2,737 — $2,023 principal & interest, $237 property tax, and $478 insurance. Adjust every input above to match your own price and quote.
What is the property tax rate in Florida?
Florida's average effective rate is 0.71% of home value — the 30th lowest — that is, 21st lowest in the nation (Tax Foundation, 2023 data). On the typical $400,000 home that is about $2,840 per year. The homestead exemption removes up to $50,000 of assessed value and the Save Our Homes cap limits assessment growth to 3%/year for primary residences.
How much is homeowners insurance in Florida?
Roughly $5,735 per year on average for $300k of dwelling coverage (Bankrate, 2025) — above the 50-state average of $2,682. Hurricane exposure makes Florida one of the most expensive states to insure a home; many owners carry separate windstorm and flood policies.
Nearby states & more tools
Compare: Georgia mortgage calculator · Alabama mortgage calculator · South Carolina mortgage calculator · Mississippi mortgage calculator — or see all 50 states compared.
Not sure of your price range? Start with the home affordability calculator, then fine-tune here. The full mortgage calculator has extra payments and PMI controls too.
Data & sources: Property tax — Effective property tax rate on owner-occupied housing, calendar year 2023 (Tax Foundation analysis of Census ACS data, published 2025). Home value — Typical home value, Zillow Home Value Index (ZHVI), 2025, rounded to the nearest $5,000. Insurance — Average annual homeowners insurance premium for $300k dwelling coverage (Bankrate/Quadrant 2025), rounded to the nearest $50. State-level figures are planning defaults, not quotes: property taxes vary by county and city, insurance varies by home and insurer, and home values move monthly. Every value prefills the calculator but remains editable. The 6.5% rate is illustrative, not an offer or a prediction — always enter a real quote.
Disclaimer: Educational purposes only — not financial advice. See our Terms of Use.