The typical owner-occupied home in Bay County is worth about $310,500, 14% below the Florida median of $359,000 and 7% below the national median of $332,700. Owners pay a median $1,807 a year in property taxes, about 0.58% of their home's value, lower than the Florida rate of 0.76%. The median household earns $73,533 a year, so the median home costs 4.2 times the median income (4.8 times for Florida). 67% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Bay County at a glance
| Bay County | Florida | U.S. | |
|---|---|---|---|
| Median home value | $310,500 | $359,000 | $332,700 |
| Median property tax paid per year | $1,807 | $2,730 | $3,119 |
| Property tax as a share of value | 0.58% | 0.76% | 0.94% |
| Median household income | $73,533 | $74,568 | $80,734 |
| Homes lived in by their owners | 67% | 68% | 65% |
| Owner homes with a mortgage | 57% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,778 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 22.7% | 23.6% | 21.0% |
| Median rent | $1,484 | $1,669 | $1,413 |
| Rent as a share of renters' income | 33.5% | 35.2% | 30.6% |
| Median year homes were built | 1993 | 1988 | 1980 |
| Vacant homes | 27.3% | 14.7% | 10.1% |
| Population | 186,393 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Bay County
At this week's average 30-year rate of 7.11%, buying the median Bay County home of $310,500 with 20% down costs about $1,950 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,468, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $83,591 for the 20%-down payment. That payment is 32% of the median Bay County household income of $73,533; at that income and 20% down, the 28% guideline points to a home of about $273,000.
The median rent here is $1,484 a month, so owning the median home costs about $466 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $62,100 |
|---|---|
| Loan amount | $248,400 |
| Principal and interest | $1,671 |
| Property taxes (0.58% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $129 |
| PMI | $0 |
| Total per month | $1,950 |
Change the numbers in the calculator
| Down payment | $10,868 |
|---|---|
| Loan amount | $304,876 |
| Principal and interest | $2,051 |
| Property taxes (0.58% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $129 |
| FHA mortgage insurance | $137 |
| Total per month | $2,468 |
Change the numbers in the calculator
Questions about home buying in Bay County
What is the median home value in Bay County?
About $310,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bay County?
Homeowners pay a median $1,807 a year, which is about 0.58% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Bay County?
For the median home with 20% down at 7.11%, the payment is about $1,950 a month. Keeping that under 28% of gross income takes about $83,591 a year.
More about Bay County
- Mortgage Refinance in Bay County
- Debt Relief in Bay County
- Home Equity Loans in Bay County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data