Florida Mortgage Calculator
Estimate your monthly mortgage payment in Florida based on the state median home price of $395K, a 0.86% property tax rate, and $4K/year homeowners insurance.
Why This Matters in Florida
In Florida, property taxes average 0.86% of assessed value. On the state median home of $395K, that adds $283/month to your mortgage payment — close to the national average. Combined with $350/month for homeowners insurance, your non-mortgage housing costs in Florida total $633/month before you even account for principal and interest.
Florida's median home price of $395K is in the moderate range nationally. Most conventional loan programs with 5-10% down are well-suited for this price range.
What to Expect for a Mortgage Payment in Florida
On the median Florida home priced at $395K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $2,247 per month. Add $283/mo in property taxes and $350/mo for homeowners insurance, and the total PITI comes to approximately $2,880 each month. That median price sits about 13% above the national median of roughly $350K, which directly shapes how much house most Florida borrowers can realistically target.
At $395K, Florida's median home price falls in a moderate range nationally. Buyers have the full spectrum of financing options available: conventional loans at 5–20% down, FHA loans at 3.5%, and VA loans at 0% for eligible veterans. Putting 20% down ($79K) eliminates PMI and drops the monthly payment to roughly $2,630, saving about $250 per month compared to the 10%-down scenario.
Homeowners insurance in Florida runs about $4K per year ($350/mo), which is well above the national average. Factors like severe weather exposure, claims history in the state, and insurer availability drive these premiums higher. Budget for this carefully — it is a non-negotiable part of your monthly PITI. Shopping multiple carriers and raising your deductible are the most common ways to reduce this cost. The Florida Hometown Heroes program can help offset upfront costs, making the overall purchase more feasible: Up to 5% as 0% deferred loan.