The typical owner-occupied home in Tavares is worth about $254,500, 29% below the Florida median of $359,000 and 24% below the national median of $332,700. Owners pay a median $2,118 a year in property taxes, about 0.83% of their home's value, higher than the Florida rate of 0.76%. The median household earns $58,886 a year, so the median home costs 4.3 times the median income (4.8 times for Florida). 77% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Tavares at a glance
| Tavares | Florida | U.S. | |
|---|---|---|---|
| Median home value | $254,500 | $359,000 | $332,700 |
| Median property tax paid per year | $2,118 | $2,730 | $3,119 |
| Property tax as a share of value | 0.83% | 0.76% | 0.94% |
| Median household income | $58,886 | $74,568 | $80,734 |
| Homes lived in by their owners | 77% | 68% | 65% |
| Owner homes with a mortgage | 47% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,769 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 24.3% | 23.6% | 21.0% |
| Median rent | $1,496 | $1,669 | $1,413 |
| Rent as a share of renters' income | 32.3% | 35.2% | 30.6% |
| Median year homes were built | 1996 | 1988 | 1980 |
| Vacant homes | 10.5% | 14.7% | 10.1% |
| Population | 20,463 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Tavares
At this week's average 30-year rate of 7.11%, buying the median Tavares home of $254,500 with 20% down costs about $1,652 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,076, 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 $70,787 for the 20%-down payment. That payment is 34% of the median Tavares household income of $58,886; at that income and 20% down, the 28% guideline points to a home of about $212,000.
The median rent here is $1,496 a month, so owning the median home costs about $156 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $50,900 |
|---|---|
| Loan amount | $203,600 |
| Principal and interest | $1,370 |
| Property taxes (0.83% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $106 |
| PMI | $0 |
| Total per month | $1,652 |
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| Down payment | $8,908 |
|---|---|
| Loan amount | $249,890 |
| Principal and interest | $1,681 |
| Property taxes (0.83% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $106 |
| FHA mortgage insurance | $113 |
| Total per month | $2,076 |
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Questions about home buying in Tavares
What is the median home value in Tavares?
About $254,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tavares?
Homeowners pay a median $2,118 a year, which is about 0.83% 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 Tavares?
For the median home with 20% down at 7.11%, the payment is about $1,652 a month. Keeping that under 28% of gross income takes about $70,787 a year.
More about Tavares
- Mortgage Refinance in Tavares
- Debt Relief in Tavares
- Home Equity Loans in Tavares
- 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