Compare Florida mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Florida.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Florida. Plus, shopping lenders is free and there is no obligation.
June 30, 2022
Below we offer valuable insights on the housing market and real estate prices in Florida. Understand how much you need to make to buy a house in Florida, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Florida is affordable for you. We provide this helpful information to help you decide if living in Florida is right for you.
The median home value for Florida is $326,621
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Florida is $53,516
With this income, you could qualify for a $293,959 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Florida is $1,239
The median household income for Florida is $64,115
Based on this income, you can afford a home valued at approximately $391,311
The home price you can afford to buy based on household income in Florida is 120% of the median home value which means housing prices are expensive. Florida ranks 38 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Florida is expensive