The typical owner-occupied home in Pensacola is worth about $314,400, 12% below the Florida median of $359,000 and 6% below the national median of $332,700. Owners pay a median $1,852 a year in property taxes, about 0.59% of their home's value, lower than the Florida rate of 0.76%. The median household earns $74,212 a year, so the median home costs 4.2 times the median income (4.8 times for Florida). 64% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Pensacola at a glance
| Pensacola | Florida | U.S. | |
|---|---|---|---|
| Median home value | $314,400 | $359,000 | $332,700 |
| Median property tax paid per year | $1,852 | $2,730 | $3,119 |
| Property tax as a share of value | 0.59% | 0.76% | 0.94% |
| Median household income | $74,212 | $74,568 | $80,734 |
| Homes lived in by their owners | 64% | 68% | 65% |
| Owner homes with a mortgage | 57% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,804 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 23.6% | 21.0% |
| Median rent | $1,322 | $1,669 | $1,413 |
| Rent as a share of renters' income | 30.7% | 35.2% | 30.6% |
| Median year homes were built | 1972 | 1988 | 1980 |
| Vacant homes | 11.3% | 14.7% | 10.1% |
| Population | 54,036 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Pensacola
At this week's average 30-year rate of 7.11%, buying the median Pensacola home of $314,400 with 20% down costs about $1,978 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,501, 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 $84,753 for the 20%-down payment. That payment is 32% of the median Pensacola household income of $74,212; at that income and 20% down, the 28% guideline points to a home of about $275,000.
The median rent here is $1,322 a month, so owning the median home costs about $656 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $62,880 |
|---|---|
| Loan amount | $251,520 |
| Principal and interest | $1,692 |
| Property taxes (0.59% a year) | $155 |
| Homeowners insurance (our estimate, 0.5% a year) | $131 |
| PMI | $0 |
| Total per month | $1,978 |
Change the numbers in the calculator
| Down payment | $11,004 |
|---|---|
| Loan amount | $308,705 |
| Principal and interest | $2,077 |
| Property taxes (0.59% a year) | $155 |
| Homeowners insurance (our estimate, 0.5% a year) | $131 |
| FHA mortgage insurance | $139 |
| Total per month | $2,501 |
Change the numbers in the calculator
Questions about home buying in Pensacola
What is the median home value in Pensacola?
About $314,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Pensacola?
Homeowners pay a median $1,852 a year, which is about 0.59% 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 Pensacola?
For the median home with 20% down at 7.11%, the payment is about $1,978 a month. Keeping that under 28% of gross income takes about $84,753 a year.
More about Pensacola
- Mortgage Refinance in Pensacola
- Debt Relief in Pensacola
- Home Equity Loans in Pensacola
- 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