Home Affordability for Florida (2026)
Florida (FL) Key Facts
Median Home Price
$390,000
Median Household Income
$63,000
Affordability Index
323
Price to Income Ratio
6.2
Max Affordable Payment (28% Rule)
$1,470
How This Calculator Works in Florida
This home affordability calculator estimates how much house you can afford in Florida based on your income, debts, down payment, and current interest rates. It accounts for Florida's property tax rate and insurance costs to give you a realistic maximum home price. Enter your financial details to see whether the median-priced home in Florida is within your reach.
Florida Overview
Florida has a median home price of approximately $390,000 and a median household income of $63,000, yielding a price-to-income ratio of 6.2. Because Florida has no state income tax, residents keep more of their gross pay, effectively stretching their housing budgets further than in income-tax states. Property taxes average 0.89%, which meaningfully impacts monthly housing costs.
How Florida Compares
Florida's price-to-income ratio of 6.2 is above the national average of roughly 5.5. Nearby Georgia has a median price of $320,000 and median income of $62,000, yielding a ratio of 5.2. Differences in property taxes and insurance costs between states further shift the true cost of homeownership.
| State | Top Rate | Notes |
|---|---|---|
| Georgia | $320,000 | Median home price is $320,000 with a median household income of approximately $62,000. The price-to-income ratio is 5.2. |
| Alabama | $230,000 | Median home price is $230,000 with a median household income of approximately $56,000. The price-to-income ratio is 4.1. |
| South Carolina | $290,000 | Median home price is $290,000 with a median household income of approximately $56,000. The price-to-income ratio is 5.2. |
With a median home price of $390,000 and a median household income of $63,000, Florida has a price-to-income ratio of 6.2. The national average price-to-income ratio is approximately 5.5. Florida is less affordable than the national average.
Tips for Florida Residents
- 1The median household income in Florida is $63,000. Under the 28% rule, this supports a maximum monthly housing payment of about $1,470, including principal, interest, taxes, and insurance.
- 2Florida's price-to-income ratio of 6.2 means the typical home costs 6.2 times the annual median income. This is stretched by national standards, so saving aggressively and exploring assistance programs is critical.
- 3Because Florida has no state income tax, residents keep more of their gross pay, effectively stretching their housing budgets further than in income-tax states.
- 4Property taxes in Florida average 0.89%, which adds $289 per month to your housing cost on the median home. Don't overlook this when calculating affordability.
- 5Look into Florida's first-time homebuyer assistance programs, which may include down payment grants, low-interest second mortgages, or mortgage credit certificates (MCCs) that provide a federal tax credit on mortgage interest.