The typical owner-occupied home in Floral City is worth about $232,000, 35% below the Florida median of $359,000 and 30% below the national median of $332,700. Owners pay a median $1,454 a year in property taxes, about 0.63% of their home's value, lower than the Florida rate of 0.76%. The median household earns $62,025 a year, so the median home costs 3.7 times the median income (4.8 times for Florida). 92% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Floral City at a glance
| Floral City | Florida | U.S. | |
|---|---|---|---|
| Median home value | $232,000 | $359,000 | $332,700 |
| Median property tax paid per year | $1,454 | $2,730 | $3,119 |
| Property tax as a share of value | 0.63% | 0.76% | 0.94% |
| Median household income | $62,025 | $74,568 | $80,734 |
| Homes lived in by their owners | 92% | 68% | 65% |
| Owner homes with a mortgage | 42% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,324 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 19.2% | 23.6% | 21.0% |
| Median rent | $617 | $1,669 | $1,413 |
| Rent as a share of renters' income | 18.5% | 35.2% | 30.6% |
| Median year homes were built | 1986 | 1988 | 1980 |
| Vacant homes | 23.2% | 14.7% | 10.1% |
| Population | 5,437 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Floral City
At this week's average 30-year rate of 7.11%, buying the median Floral City home of $232,000 with 20% down costs about $1,467 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,853, 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 $62,872 for the 20%-down payment. That payment is 28% of the median Floral City household income of $62,025; at that income and 20% down, the 28% guideline points to a home of about $229,000.
The median rent here is $617 a month, so owning the median home costs about $850 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,400 |
|---|---|
| Loan amount | $185,600 |
| Principal and interest | $1,249 |
| Property taxes (0.63% a year) | $122 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| PMI | $0 |
| Total per month | $1,467 |
Change the numbers in the calculator
| Down payment | $8,120 |
|---|---|
| Loan amount | $227,798 |
| Principal and interest | $1,532 |
| Property taxes (0.63% a year) | $122 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| FHA mortgage insurance | $103 |
| Total per month | $1,853 |
Change the numbers in the calculator
Questions about home buying in Floral City
What is the median home value in Floral City?
About $232,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Floral City?
Homeowners pay a median $1,454 a year, which is about 0.63% 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 Floral City?
For the median home with 20% down at 7.11%, the payment is about $1,467 a month. Keeping that under 28% of gross income takes about $62,872 a year.
More about Floral City
- Mortgage Refinance in Floral City
- Debt Relief in Floral City
- Home Equity Loans in Floral City
- 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