Florida · FL

Florida Mortgage Calculator

Pre-filled for Florida: median home price $420,000, average property tax rate 0.83%. Adjust any slider to make it yours.

No state income tax. Homestead exemption available.

Florida housing at a glance

Median home price: $420,000
Effective property tax rate: 0.83% / yr
Annual property tax (median home): $3,486
Est. monthly tax escrow: $291
State income tax: None

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in Florida

The median home price in Florida is around $420,000 and the effective property tax rate averages 0.83%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

Because Florida has no state income tax, your net take-home pay is higher than in comparable-income states — which directly increases how much mortgage you can qualify for under DTI limits.

A 20% down payment on the median home in Florida is $84,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Top counties in Florida

Home prices vary significantly by county. The most populated counties in Florida tend to command the highest medians:

Miami-Dade County: $560,000
Broward County: $470,000
Orange County: $415,000

Adjust the home-price slider above to match the county you're buying in.

Transfer tax & closing costs in Florida

Florida charges a documentary stamp tax of $0.70 per $100 on the deed (0.7%) plus $0.35 per $100 on the mortgage. Miami-Dade has a lower deed rate.

Beyond transfer taxes, total closing costs in Floridatypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $8,400–$21,000.

Foreclosure & legal context

Foreclosure type: Judicial (court-supervised)
Security instrument: Mortgage
Deficiency liability: Recourse

Florida's homestead exemption shields up to $50,000 of assessed value from property taxes and protects unlimited home equity from most creditors — one of the strongest in the US.

Florida mortgage FAQ

What is the monthly mortgage payment for a median-priced home in Florida?: At the current 30-year fixed rate of ~6.81%, a $420,000 home in Florida with 20% down ($84,000) carries a principal-and-interest payment of ~$2,193/mo. Add property tax (~$291/mo at 0.83%) and homeowners insurance and your total is roughly $2,483/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in Florida?: The effective statewide property tax rate in Florida averages 0.83% of assessed value per year. On a $420,000 home, that works out to roughly $3,486 per year ($291/mo). Individual county rates vary.
Does Florida have a state income tax?: No, Florida has no state income tax — no state income tax. homestead exemption available. This can significantly improve affordability compared to high-income-tax states.
What are the closing costs and transfer taxes in Florida?: Florida charges a documentary stamp tax of $0.70 per $100 on the deed (0.7%) plus $0.35 per $100 on the mortgage. Miami-Dade has a lower deed rate.
What type of foreclosure does Florida use?: Florida uses judicial foreclosure, meaning a lender must file a lawsuit and obtain a court judgment before selling a property. Florida's homestead exemption shields up to $50,000 of assessed value from property taxes and protects unlimited home equity from most creditors — one of the strongest in the US.

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