How your housing costs change when you relocate. Based on 2026 data with 10% down, 6.5% rate, 30-year fixed.
Your housing costs will increase by approximately $1,392 per month ($16,704/year) when you move from Alabama to Florida.
If you sell your median-priced Alabama home ($230K) and buy in Florida ($395K):
Your Alabama equity falls $10K short of a 20% down payment in Florida. You may need additional savings or could consider a lower down payment with PMI.
Over 10 years, this move costs you approximately $167K in housing costs alone.
Housing costs more in Florida. The median home is 42% higher than in Alabama — a $165K jump. You may need to adjust your expectations on square footage or location, or come with a larger down payment to keep your monthly costs manageable.
Watch out for Florida's 0.86% property tax rate — that's $2,454 more per year than you're used to in Alabama (0.41%). Property taxes are often the hidden cost that surprises relocating buyers.
Insurance will cost you more in Florida — $4,200/year compared to $1,950/year in Alabama. That's an extra $2,250 annually ($188/month). High premiums are driven by severe weather risk in the region.
When you buy in Florida, expect about $7K in closing costs (1.8% of purchase price). This includes a 0.7% transfer tax. Budget for this amount on top of your down payment.
Florida's Florida Hometown Heroes offers Up to 5% as 0% deferred loan. If you haven't owned a home in three years (or are buying in Florida for the first time), you may qualify. Check eligibility requirements and income limits on Florida's housing finance agency website.