Mortgage on a $850K house in Florida
$5,567 a month with 20% down — $4,574 principal and interest plus $568 property tax and $425 insurance.
Florida's typical property tax is 0.8% of the home's value a year (U.S. average 0.9%), which adds $568 a month on a $850K home. The typical home in Florida is worth $375,361, so $850K is 126% above the typical price.
$850K home in Florida: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $170,000 | $680,000 | $4,574 | $0 | $993 | $5,567 | $238,600 |
| 10% down | $85,000 | $765,000 | $5,146 | $319 | $993 | $6,458 | $276,800 |
| 5% down | $42,500 | $807,500 | $5,432 | $336 | $993 | $6,761 | $289,800 |
| 3.5% down (FHA) | $29,750 | $834,604 | $5,614 | $376 | $993 | $6,983 | $299,300 |
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 $850K buy a typical home?
In these counties the typical home value is within 15% of $850K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Monroe County | $962,885 | 0.53% | $5,374 |
66 of 67 Florida counties tracked by Zillow have a typical home value at or below $850K. See all Florida home prices.
Other prices in Florida
Frequently asked questions
What is the mortgage on a $850K house in Florida?
About $5,567 a month with 20% down at 7.11%: $4,574 principal and interest, $568 property tax and $425 insurance.
How much do I need to make to buy a $850K house in Florida?
About $238,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $850K house in Florida?
At Florida's typical effective rate of 0.8%, about $6,814 a year. Rates vary by county and city — see the county pages.