Mortgage on a $400K house in Florida
$2,620 a month with 20% down — $2,153 principal and interest plus $267 property tax and $200 insurance.
Florida's typical property tax is 0.8% of the home's value a year (U.S. average 0.9%), which adds $267 a month on a $400K home. The typical home in Florida is worth $375,361, so $400K is 7% above the typical price.
$400K home in Florida: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $467 | $2,620 | $112,300 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $467 | $3,039 | $130,200 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $467 | $3,182 | $136,400 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $467 | $3,286 | $140,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.8% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Florida does $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Seminole County | $400,341 | 0.67% | $2,577 |
| Orange County | $400,964 | 0.76% | $2,606 |
| Sarasota County | $399,023 | 0.75% | $2,604 |
| Gulf County | $403,845 | 0.63% | $2,563 |
| Manatee County | $408,269 | 0.78% | $2,612 |
| Sumter County | $387,784 | 0.78% | $2,613 |
| Franklin County | $422,234 | 0.63% | $2,563 |
| Broward County | $422,344 | 0.94% | $2,665 |
| Hillsborough County | $375,501 | 0.81% | $2,623 |
| Saint Lucie County | $370,781 | 0.93% | $2,664 |
| Pinellas County | $368,917 | 0.7% | $2,585 |
| Indian River County | $363,705 | 0.69% | $2,584 |
53 of 67 Florida counties tracked by Zillow have a typical home value at or below $400K. See all Florida home prices.
Other prices in Florida
Frequently asked questions
What is the mortgage on a $400K house in Florida?
About $2,620 a month with 20% down at 7.11%: $2,153 principal and interest, $267 property tax and $200 insurance.
How much do I need to make to buy a $400K house in Florida?
About $112,300 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in Florida?
At Florida's typical effective rate of 0.8%, about $3,206 a year. Rates vary by county and city — see the county pages.