Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Florida and Texas. Updated for 2026.
Texas wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $310K and lower overall costs, Texas 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.
The monthly payment difference is $367/month — that’s $4,404/year or $132K over the life of a 30-year loan. Buying in Texas is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in Florida, you need a household income of approximately $130K/year. In Texas, you need $114K/year — less by $16K/year. The $16K difference is meaningful but manageable for dual-income households.
Texas offers meaningfully lower home prices than Florida, with median prices running 22% less ($85K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Florida may find Texas far more accessible, particularly when combined with local down payment assistance programs.
Florida has a moderate property tax advantage at 0.86% versus Texas's 1.8%. While the rate gap of 0.94% may seem small, it translates to an annual difference of approximately $2,183 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $17K in savings.
Both states offer down payment assistance for first-time buyers. Florida's Florida Hometown Heroes provides Up to 5% as 0% deferred loan, while Texas's TDHCA My First Texas Home offers Up to 5% DPA grant. 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: Florida and Texas are broadly similar in housing costs, with only $367/month separating them in total PITI payments. In cases like this, your decision should be driven by lifestyle preferences — job opportunities, climate, proximity to family, and quality of life — rather than pure cost savings. Either state offers a reasonable path to homeownership.