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Mortgage Calculator Florida — 2026 Payment Estimates
Pre-filled with Florida's estimated median home price of $405,000 and 0.89% effective property tax rate. Adjust any input for your specific situation. All calculations run in your browser.
Reviewed for accuracy June 2026 by Gary Sing
Median home price
$405,000
Monthly P&I (30yr)
$2,047.90
Property tax/month
$300.38
Est. total PITI/month
$2,500.15
Optional — unlocks affordability analysis
Enter gross income to check affordability
At the 28% front-end guideline, this payment requires ~$87,767/year in gross income. The monthly shown is principal and interest only — add ~$31 for taxes, insurance.
- ›A 15-year term saves $229,214 in total interest but raises the payment by $774/month
- ›Total interest ($413,244) exceeds the loan itself ($324,000) — every extra principal payment saves its full remaining interest
⚡ Total interest ($413,244) exceeds the loan principal — consider extra principal payments or a shorter term
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Florida mortgage payment scenarios — $405,000 home at 6.5%
Monthly P&I and estimated total PITI (principal, interest, tax, insurance) at three down payment levels. Property tax uses Florida's 0.89% effective rate; insurance estimated at 0.45% of home value annually.
| Down payment | Down amount | P&I (30yr) | P&I (15yr) | Total PITI (30yr) |
|---|---|---|---|---|
| 10% down | $40,500 | $2,303.89 | $3,175.19 | $2,756.14 |
| 15% down | $60,750 | $2,175.89 | $2,998.79 | $2,628.14 |
| 20% down | $81,000 | $2,047.90 | $2,822.39 | $2,500.15 |
P&I only (30yr and 15yr). PITI adds property tax (0.89%) and estimated homeowners insurance (0.45% annually). Does not include PMI — required when down payment is below 20%.
Property tax and insurance in Florida
Florida's effective property tax rate averages about 0.89%. However, homeowners insurance is the more critical wildcard — get insurance quotes before finalising any purchase, especially in flood zones or within 30 miles of the coast.
Florida property tax
Effective rate: 0.89%. On a $405,000 home, annual property taxes are approximately $3,605 — or $300.38/month. Many lenders collect this monthly into an escrow account.
Homeowners insurance
Estimated at 0.45% of home value annually — roughly $151.87/month on a $405,000 home. Rates vary by coverage, age of home, and local risk factors. Get quotes from multiple insurers before closing.
PMI (if under 20% down)
Private Mortgage Insurance is required on conventional loans with less than 20% down, typically costing 0.5–1.5% of the loan amount per year. On a $324,000 loan, PMI adds roughly $243.00–$405.00/month.
Income needed
The 28% front-end DTI guideline requires approximately $107,149/year in gross income to qualify for the median Florida home with 20% down. This is principal, interest, tax, and insurance — not counting other debt.
Florida housing market 2026
Florida is one of the fastest-growing states by population, driving persistent demand across Tampa, Orlando, Miami, and Jacksonville. Homeowners insurance has become a major financial variable after recent hurricane seasons — coastal property insurance can exceed $5,000–$10,000/year, significantly exceeding property taxes as a carrying cost.
Key numbers for Florida buyers
- Median home price: $405,000 (2026 estimate)
- Down payment (20%): $81,000
- Loan amount (80% LTV): $324,000
- Monthly P&I at 6.5% / 30yr: $2,047.90
- Est. PITI (with tax + insurance): $2,500.15/month
- Income needed (28% DTI): $107,149/year
- State income tax: None — a meaningful take-home pay advantage
Compare mortgage payments by state
📍 California
Median $750,000 · ~$3,793/mo P&I · 0.73% tax
📍 Texas
Median $315,000 · ~$1,593/mo P&I · 1.6% tax
📍 New York
Median $415,000 · ~$2,099/mo P&I · 1.4% tax
📍 Georgia
Median $325,000 · ~$1,643/mo P&I · 0.83% tax
📍 Arizona
Median $365,000 · ~$1,846/mo P&I · 0.6% tax
📍 North Carolina
Median $325,000 · ~$1,643/mo P&I · 0.77% tax
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Mortgage calculator Florida — frequently asked questions
What is the average mortgage payment in Florida?
Based on Florida's median home price of $405,000, a 30-year mortgage at 6.5% with 20% down produces a monthly principal and interest payment of $2,047.90. Adding property tax (~$300.38/month at 0.89%) and homeowners insurance (~$151.87/month) gives an estimated total PITI of approximately $2,500.15/month.
What is the median home price in Florida in 2026?
The estimated median home price in Florida in 2026 is approximately $405,000. Prices vary significantly by metro area — use this as a benchmark and enter the specific price you are evaluating in the calculator above.
How much income do I need to afford a house in Florida?
Using the 28% front-end DTI guideline, an estimated total monthly payment (PITI) of $2,500.15 on the median Florida home requires approximately $107,149/year in gross income. This assumes 20% down, 6.5% rate, 30-year term, and 0.89% property tax.
What are property taxes in Florida?
Florida's effective property tax rate is approximately 0.89%. On a $405,000 home, that is roughly $300.38/month or $3,605/year. Florida's effective property tax rate averages about 0.89%. However, homeowners insurance is the more critical wildcard — get insurance quotes before finalising any purchase, especially in flood zones or within 30 miles of the coast.
Is a 15-year or 30-year mortgage better in Florida?
At 6.5% on a $405,000 home with 20% down: the 30-year P&I is $2,047.90/month; the 15-year P&I is $2,822.39/month — $774.49/month more. The 15-year saves $229,214 in total interest. If the higher payment is affordable, the 15-year is almost always the better long-term financial choice.