Florida Mortgage & Property Tax Guide 2025
Florida has an average property tax rate of 0.83% and no state income tax. The median home price is approximately $405,000.
Is Florida a Good State to Buy a Home?
Florida is the #1 destination for retirees and remote workers. No income tax, warm weather, and diverse housing options make it highly attractive, though insurance costs are a major consideration.
Property Tax in Florida
On a $405,000 home in Florida, you would pay approximately $3,362/year (280/month) in property taxes at the 0.83% average rate. Rates vary by county.
What is the average mortgage payment in Florida?
For a $620,000 home with 20% down at 7.2% over 30 years, expect to pay approximately $4,087/month including property tax and insurance in Florida.
How much income do I need to buy a house in Florida?
To comfortably afford a $620,000 home in Florida (28% DTI rule), you typically need a household income of at least $175,000/year.
Does Florida have a first-time home buyer program?
Yes. Florida offers state-level down payment assistance and mortgage credit certificate programs for eligible first-time buyers. Contact your local housing finance agency for current income and purchase price limits.