Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Florida and Pennsylvania. Updated for 2026.
Pennsylvania wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $280K and lower overall costs, Pennsylvania offers meaningful savings compared to Florida. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Pennsylvania saves you approximately $896/month ($10,752/year) compared to Florida, based on median home prices with identical loan terms.
Pennsylvania offers meaningfully lower home prices than Florida, with median prices running 29% less ($115K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Florida may find Pennsylvania far more accessible, particularly when combined with local down payment assistance programs.
Florida has a moderate property tax advantage at 0.86% versus Pennsylvania's 1.36%. While the rate gap of 0.50% may seem small, it translates to an annual difference of approximately $411 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $3K in savings.
Homeowners insurance is significantly cheaper in Pennsylvania ($1,400/year) compared to Florida ($4,200/year). That's an extra $2,800 per year — or $233/month — eating into your budget in Florida. Florida's high insurance costs are often driven by severe weather risks (hurricanes, tornadoes, or wildfires), which also affect availability of coverage.
Both states offer down payment assistance for first-time buyers. Florida's Florida Hometown Heroes provides Up to 5% as 0% deferred loan, while Pennsylvania's PHFA Keystone Advantage offers Up to $6,000 DPA. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: insurance costs heavily tilt the scales. Florida homeowners pay $4,200/year for coverage versus $1,400 in Pennsylvania — a $2,800 annual gap. If you're budgeting for a home in Florida, make sure to factor in this ongoing expense. It can make an otherwise affordable market surprisingly costly month-to-month.