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Florida home affordability calculator

The median Florida household earns about $71,000 a year, and the median home costs about $400,000 — 5.6 times income. With 10% down, no other debts, and the current 7.32% average 30-year rate (Freddie Mac, week of October 22, 2026), standard lending ratios support a home of about $189,506 , roughly $210,494 short of the median. The calculator is pre-filled with those figures — replace them with yours.

$189,506 max home price

Max loan amount
$149,506
Housing payment budget
$1,652
P&I budget
$1,027
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

How it works

Lenders cap the full housing payment — principal, interest, property tax, insurance — near 28% of gross monthly income, and all debt payments near 36%. In Florida, property tax at about 0.86% of value plus roughly $4,000 a year of homeowners insurance come to about $620 a month on the median home, and that comes out of the 28% budget before anything goes to the loan. On the median income the housing budget is about $1,652 a month, leaving $1,027 for principal and interest.

Homes in Florida spend about 55 days on the market on average. Florida has no state income tax and a near-average property tax rate with a Save Our Homes assessment cap for residents, but homeowners insurance is the most expensive in the country because of hurricane exposure — often rivaling the property tax bill itself.

Frequently asked questions

How much house can I afford in Florida on the median income?
On Florida's median household income of about $71,000, with no other debts, 10% down, and a 7.32% 30-year rate, the 28% housing guideline supports a home of roughly $189,506. That's about $210,494 below the $400,000 median home price.
What income do I need to buy a median-priced home in Florida?
Florida's median home costs about $400,000 — 5.6 times the median household income. Lenders' 28% front-end rule means the full payment, including about $620 a month in property tax and insurance, needs to fit inside 28% of gross monthly income. Try the calculator with your own income and down payment.
How much do property tax and insurance add in Florida?
On the median home, Florida's 0.86% effective property tax rate and about $4,000 a year in homeowners insurance come to roughly $620 a month — money that comes out of the housing budget before any goes to principal and interest.
Does Florida's income tax affect how much house I can afford?
Not directly — lenders qualify you on gross income. But Florida doesn't tax wages, so more of each paycheck is left for the payment than in an income-tax state.

Learn more: How much house can I afford?

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