The typical owner-occupied home in Mayo is worth about $166,300, 54% below the Florida median of $359,000 and 50% below the national median of $332,700. The median household earns $54,375 a year, so the median home costs 3.1 times the median income (4.8 times for Florida). 39% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Mayo at a glance
| Mayo | Florida | U.S. | |
|---|---|---|---|
| Median home value | $166,300 | $359,000 | $332,700 |
| Median property tax paid per year | – | $2,730 | $3,119 |
| Median household income | $54,375 | $74,568 | $80,734 |
| Homes lived in by their owners | 39% | 68% | 65% |
| Owner homes with a mortgage | 35% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,319 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 28.2% | 23.6% | 21.0% |
| Median rent | – | $1,669 | $1,413 |
| Rent as a share of renters' income | 17.8% | 35.2% | 30.6% |
| Median year homes were built | 1978 | 1988 | 1980 |
| Vacant homes | 8.6% | 14.7% | 10.1% |
| Population | 1,147 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Mayo
At this week's average 30-year rate of 7.11%, buying the median Mayo home of $166,300 with 20% down costs about $1,117 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,394, 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 $47,859 for the 20%-down payment. That payment is 25% of the median Mayo household income of $54,375; at that income and 20% down, the 28% guideline points to a home of about $189,000.
| Down payment | $33,260 |
|---|---|
| Loan amount | $133,040 |
| Principal and interest | $895 |
| Property taxes (1.10% a year) | $152 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| PMI | $0 |
| Total per month | $1,117 |
Change the numbers in the calculator
| Down payment | $5,820 |
|---|---|
| Loan amount | $163,288 |
| Principal and interest | $1,098 |
| Property taxes (1.10% a year) | $152 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| FHA mortgage insurance | $74 |
| Total per month | $1,394 |
Change the numbers in the calculator
Questions about home buying in Mayo
What is the median home value in Mayo?
About $166,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Mayo?
For the median home with 20% down at 7.11%, the payment is about $1,117 a month. Keeping that under 28% of gross income takes about $47,859 a year.
More about Mayo
- Mortgage Refinance in Mayo
- Debt Relief in Mayo
- Home Equity Loans in Mayo
- 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