Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Florida homebuyers.
Pre-filled with Florida medians. Adjust for your property.
Estimated closing costs based on Florida tax rates and fees.
The median home price in Florida is $395,000, with property taxes averaging 0.86% annually. Florida's property tax rate is roughly in line with the national average.
Closing costs in Florida average $7K (1.8%% of purchase price). The state charges a 0.7% transfer tax on real estate transactions, which modestly adds to closing costs. Homeowners insurance runs approximately $4,200 per year. Insurance costs are notably high — factor this into your monthly budget.
Florida offers the Florida Hometown Heroes for first-time buyers: Up to 5% as 0% deferred loan. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Florida presents moderate affordability. The $395K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.