Florida housing costs at a glance
| Florida | |
|---|---|
| Median home value (Zillow) | $405,000 |
| Average effective property tax | 0.76% |
| Typical rate for a new buyer (calculator default) | 1.0% |
| Average homeowners insurance ($300k dwelling) | $6,408 a year |
| 2026 conforming loan limit (one unit) | $832,750 in most counties; higher in Monroe County (Florida Keys) |
Example: median-priced home
Florida home for $405,000, 20% down, 6.5% 30-year fixed: principal and interest $2,048 + property tax $338 + insurance $534 = about $2,919 a month. Enter your own rate quote and the actual tax rate of the property for a precise figure.
Florida property tax and the homestead exemption
Florida property tax is set by counties, cities and school districts, typically around 1%–1.5% of the assessed value for a new buyer before exemptions. The homestead exemption takes up to $50,000 off the assessed value of your primary residence, and the Save Our Homes cap then limits increases in that assessed value to 3% a year (or inflation, if lower). The cap resets when a home is sold, so a buyer often pays much more than the previous owner.
Florida closing costs and insurance
- Documentary stamp tax: $0.70 per $100 of the price on the deed (usually paid by the seller), plus $0.35 per $100 on the mortgage note and a 0.2% intangible tax on the new mortgage, both paid by the buyer.
- Insurance: Florida has the highest homeowners insurance premiums in the country, about $6,400 a year for $300,000 of dwelling coverage, before separate flood insurance.
- No state income tax leaves more room in the budget for these costs; see the Florida paycheck calculator.
Other states
See also the Florida paycheck calculator and mortgage costs in other states.
Frequently asked questions
How much is homeowners insurance in Florida?
About $6,400 a year on average for $300,000 of dwelling coverage in 2026, the highest of any state, and flood insurance is extra.
What is the monthly payment on a median-priced Florida home?
On a $405,000 home with 20% down at 6.5%, principal and interest are about $2,048; with property tax at 1% and average insurance the total is about $2,920 a month.
What are documentary stamp taxes in Florida?
A state tax on deeds ($0.70 per $100 of the sale price) and on mortgage notes ($0.35 per $100 of the loan). New mortgages also pay a 0.2% intangible tax.
How does the Florida homestead exemption work?
It reduces the assessed value of your primary residence by up to $50,000 and caps future increases in the assessed value at 3% a year.
For information only; not a loan offer. Property tax, insurance and closing costs depend on the specific property and lender.
Sources
- Florida Department of Revenue – property tax
- FHFA – 2026 conforming loan limits
- NAHB analysis of Census ACS property tax data
- Zillow Home Value Index
- Insurify – home insurance by state
Rules checked: October 2026