The typical owner-occupied home in Okeechobee is worth about $197,700, 45% below the Florida median of $359,000 and 41% below the national median of $332,700. Owners pay a median $1,564 a year in property taxes, about 0.79% of their home's value, close to the Florida rate of 0.76%. The median household earns $57,044 a year, so the median home costs 3.5 times the median income (4.8 times for Florida). 55% of occupied homes here are lived in by their owners, and 37% of those owners still have a mortgage.
Okeechobee at a glance
| Okeechobee | Florida | U.S. | |
|---|---|---|---|
| Median home value | $197,700 | $359,000 | $332,700 |
| Median property tax paid per year | $1,564 | $2,730 | $3,119 |
| Property tax as a share of value | 0.79% | 0.76% | 0.94% |
| Median household income | $57,044 | $74,568 | $80,734 |
| Homes lived in by their owners | 55% | 68% | 65% |
| Owner homes with a mortgage | 37% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,468 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 22.5% | 23.6% | 21.0% |
| Median rent | $1,061 | $1,669 | $1,413 |
| Rent as a share of renters' income | 24.2% | 35.2% | 30.6% |
| Median year homes were built | 1981 | 1988 | 1980 |
| Vacant homes | 9.7% | 14.7% | 10.1% |
| Population | 5,479 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Okeechobee
At this week's average 30-year rate of 7.11%, buying the median Okeechobee home of $197,700 with 20% down costs about $1,276 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,606, 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 $54,706 for the 20%-down payment. That payment is 27% of the median Okeechobee household income of $57,044; at that income and 20% down, the 28% guideline points to a home of about $206,000.
The median rent here is $1,061 a month, so owning the median home costs about $215 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,540 |
|---|---|
| Loan amount | $158,160 |
| Principal and interest | $1,064 |
| Property taxes (0.79% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| PMI | $0 |
| Total per month | $1,276 |
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| Down payment | $6,920 |
|---|---|
| Loan amount | $194,119 |
| Principal and interest | $1,306 |
| Property taxes (0.79% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| FHA mortgage insurance | $87 |
| Total per month | $1,606 |
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Questions about home buying in Okeechobee
What is the median home value in Okeechobee?
About $197,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Okeechobee?
Homeowners pay a median $1,564 a year, which is about 0.79% 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 Okeechobee?
For the median home with 20% down at 7.11%, the payment is about $1,276 a month. Keeping that under 28% of gross income takes about $54,706 a year.
More about Okeechobee
- Mortgage Refinance in Okeechobee
- Debt Relief in Okeechobee
- Home Equity Loans in Okeechobee
- 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