Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between California and Florida. Updated for 2026.
Metric
California
Florida
Median Home Price
$785K
$395K
Property Tax Rate
0.73%
0.86%
Avg Closing Costs
$9K
$7K
Closing Cost %
1.2%
1.8%
Transfer Tax
0.11%
0.7%
Homeowners Insurance
$2,200/yr
$4,200/yr
First-Time Buyer Program
CalHFA Dream For All
Up to 20% shared appreciation loan
Florida Hometown Heroes
Up to 5% as 0% deferred loan
Verdict
California wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Florida has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.