Mortgage Calculator & Closing Costs: Fort Lauderdale, FL
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fort Lauderdale, Florida.
Median Home Price
$475K
Population
183K
Avg Monthly Rent
$2,150
Property Tax Rate
0.86% *
* Property tax shown is the Florida state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Fort Lauderdale.
Fort Lauderdale vs Florida Median
The median home price in Fort Lauderdale is $475,000, which is 20% above the Florida state median of $395,000.
Mortgage Calculator — Fort Lauderdale, FL
Pre-filled with Fort Lauderdale median home price and Florida tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $475K home using Florida's 0.86% tax rate and $4,200/yr insurance.
5% Down
$3,806/mo
Down: $23,750
Loan: $451K
P&I: $2,852
Tax: $340
Insurance: $350
PMI: $263
10% Down
$3,642/mo
Down: $47,500
Loan: $428K
P&I: $2,702
Tax: $340
Insurance: $350
PMI: $249
20% Down (No PMI)
$3,092/mo
Down: $95,000
Loan: $380K
P&I: $2,402
Tax: $340
Insurance: $350
Income needed (28% rule): $133K/year with 20% down, $156K/year with 10% down.
Rent vs Buy in Fort Lauderdale
Rent
$2,150/mo
vs
Buy (10% down)
$3,642/mo
Price-to-rent ratio: 18.4 — A ratio between 15-20 means the rent vs buy decision in Fort Lauderdale depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Fort Lauderdale is $475,000, 20% above the Florida state median of $395,000. With a population of 182,760, Fort Lauderdale is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Florida average 0.86% annually. This moderate property tax rate means a $475,000 home in Fort Lauderdale would carry roughly $340/month in property taxes. Homeowners insurance in Florida runs approximately $4,200 per year. Insurance costs are notably high — factor this into your monthly budget.
Average rent in Fort Lauderdale is $2,150/month. The price-to-rent ratio in Fort Lauderdale is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Fort Lauderdale is a higher-cost market. At $475K median, buyers need significant savings or strong income. Down payment assistance through Florida's Florida Hometown Heroes program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Fort Lauderdale.