Calculate your Florida mortgage payment with state-specific property tax rates (0.98% average), no state income tax, hurricane insurance costs, and 2026 conforming loan limits.
FL average: 0.98% (Save Our Homes cap applies)
FL avg: $3,500+ (coastal areas higher)
Miami-Dade, Broward, Palm Beach, and Monroe counties have higher limits due to high home values.
Florida has no state income tax. This is one of the state's biggest advantages for homeowners and retirees.
Calculate your after-tax income.
Florida property taxes are moderated by the "Save Our Homes" amendment:
Florida has the highest home insurance costs in the nation due to hurricane risk:
See their page for current rules.
Florida has the highest home insurance costs in the U.S. due to hurricane risk, litigation abuse, and reinsurance costs. The average is $3,500+ per year, compared to the national average of $1,200. Coastal areas can pay $5,000-$10,000+. Recent tort reform legislation may help stabilize rates, but costs remain high.
Correct. Florida is one of seven states with no state income tax. You only pay federal income tax. This makes Florida attractive for retirees and high earners. However, the trade-off is higher property taxes and sales taxes (6% state + local).
The "Save Our Homes" amendment (1992) caps annual assessment increases for homesteaded properties at 3% or CPI, whichever is lower. That means long-term homeowners often pay much less in property taxes than new buyers. The homestead exemption also reduces taxable value by up to $50,000.
If your property is in a FEMA-designated Special Flood Hazard Area (SFHA) and you have a federally-backed mortgage, flood insurance is required. Standard homeowners insurance does not cover flood damage. Even if you're not in a flood zone, consider flood insurance, 25% of flood claims come from moderate-to-low risk areas.
Yes, Florida offers several programs through Florida Housing Finance Corporation. The most popular is "Hometown Heroes," which provides up to $35,000 in down payment assistance for teachers, first responders, healthcare workers, and other essential workers. There are income caps and purchase price restrictions.