How Much House Can I Afford in Florida? (2026 Guide)

Florida remains a top destination for relocators, with a median home price around $410,000. Insurance — not just the mortgage rate — often determines whether a Florida home fits your budget. This guide helps you size a realistic payment for 2026.

Income limits: the 28/36 rule

Most lenders cap housing at 28% of gross monthly income and total debt at 36%. Florida buyers with variable income (commission, seasonal work, or self-employment) should use a conservative income figure — lenders may average two years of tax returns, but you should budget on what you reliably earn.

Florida insurance is the wild card

Homeowners insurance in Florida averages about $2,400/year statewide, but coastal counties can cost significantly more. Wind mitigation features, roof age, and flood zone placement change quotes by thousands. Always get an insurance estimate before you offer — not after.

Example: median Florida home payment

On a $410,000 home with 20% down at 6.75% over 30 years, principal and interest are roughly $2127/month. Property taxes add about $294/month and insurance about $200/month, for a total near $2621/month before HOA or flood insurance.

Florida-specific costs to budget for

• Flood insurance if you're in or near a FEMA flood zone.
• Higher windstorm deductibles on coastal policies.
• Homestead exemption reduces assessed value for primary residences.
• Condo HOA fees that may include master insurance — verify what's covered.

Run localized numbers in the Florida mortgage calculator and compare scenarios in the affordability calculator before you tour homes.