Estimate your monthly mortgage payment in Florida — principal & interest plus Florida property tax and homeowner’s insurance.
Buying a home in Florida: what to know
Finding balance rather than turning: Florida Realtors reported the single-family median at $415,000 in Aug 2026 (+1.2% YoY, a sixth straight monthly gain) while inventory fell 13% YoY — slower sales but holding prices, per economist commentary (thecurriergroup.com, Sept 2026). With a median home price of $375,470 (Zillow ZHVI, Aug 2026), 20% down means borrowing about $300,376 — within the 2026 conforming limit of $832,750 for most Florida counties. Property taxes run about 0.78% of assessed value (effective rate), and insurance averages $2,677 a year statewide — both baked into the calculator above. First-time buyers should check out Florida Hometown Heroes Housing Program and Florida Housing Homebuyer Loan Programs (Florida First / FL Assist) before shopping lenders.
Florida mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 |
| Median home price | $375,470 |
| Median effective property tax rate | 0.78% |
| Average homeowner’s insurance | $2,677/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (Aug 2026), Tax Foundation (2026 (2024 ACS data)), NAIC via Insurance Information Institute (2022 (published May 2025)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Florida first-time buyer programs
- Florida Hometown Heroes Housing Program — Up to 5% of the first mortgage (min $10,000, max $35,000) as a 0% interest, non-amortizing 30-year deferred second mortgage — no monthly payments, not forgivable — for full-time essential workers, active military, and veterans buying a first home; 2026-27 round opened July 13, 2026 with $50M. Official site
- Florida Housing Homebuyer Loan Programs (Florida First / FL Assist) — Florida Housing’s 30-year fixed first mortgages (FHA, VA, USDA, conventional via approved lenders) pair with second-mortgage DPA options: Florida Assist offers up to $10,000 as a 0% deferred second mortgage, and HFA Preferred conventional loans offer 3-5% DPA with reduced PMI. Official site
How to use this calculator
Start with Florida’s median home price (pre-filled above) or type the price of a home you’re eyeing. The calculator assumes 20% down — the threshold that avoids private mortgage insurance on conventional loans — and applies Florida’s median property tax rate and average insurance premium so the monthly figure reflects the true cost of owning, not just principal and interest. Adjust the rate to a quote you’ve received; even half a point moves the payment by hundreds on a Florida-priced home. Compare a 15-year term against 30 years to see the lifetime-interest tradeoff before you commit.
Worked example: a median Florida home
Take a median-priced Florida home at $375,470. With 20% down ($75,094), the loan amount is $300,376. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $2,079.74/month. Add property tax of about $244.06/month (0.78% of $375,470, divided by 12) and insurance of about $223.08/month ($2,677 a year), for a total estimated payment of $2,546.88/month. Over 30 years, total interest would be about $448,331. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Florida for 2026?
The 2026 baseline conforming loan limit for a one-unit property is $832,750 across most of Florida, per the FHFA’s November 2025 announcement. Higher limits apply in designated high-cost counties (Miami-Dade, Broward, Palm Beach, Monroe).
How much are property taxes in Florida?
The median effective property tax rate in Florida is about 0.78% of a home’s assessed value (Tax Foundation, 2026 (2024 ACS data)). On a $375,470 home, that’s roughly $2,929 a year, or $244.06 a month — already included in the calculator above. Actual bills vary by county and municipality.
How does Florida’s homestead exemption work?
The homestead exemption removes up to $50,000 from taxable value — the first $25,000 applies to all taxes including schools, and a second $25,000 (now inflation-indexed) applies only to assessed value above $50,000 and only to non-school taxes; it also unlocks the Save Our Homes assessment cap.
What is the Save Our Homes cap and does it transfer when I buy?
Save Our Homes limits annual assessed-value growth to the lesser of 3% or the prior year’s CPI change; the seller’s accumulated cap does NOT transfer to you — your assessed value resets to just (market) value on Jan 1 after the sale, though you can ‘port’ up to $500,000 of your own cap benefit to a new Florida home via Form DR-501T.
Is Florida really eliminating property taxes?
No — elimination would require a constitutional amendment passing the legislature and 60% voter approval; it has been debated but is not law, and there is no income tax in Florida, so property taxes remain the local revenue base.