The typical owner-occupied home in Big Pine Key is worth about $637,000, 77% above the Florida median of $359,000 and 91% above the national median of $332,700. Owners pay a median $3,398 a year in property taxes, about 0.53% of their home's value, lower than the Florida rate of 0.76%. The median household earns $110,134 a year, so the median home costs 5.8 times the median income (4.8 times for Florida). 88% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Big Pine Key at a glance
| Big Pine Key | Florida | U.S. | |
|---|---|---|---|
| Median home value | $637,000 | $359,000 | $332,700 |
| Median property tax paid per year | $3,398 | $2,730 | $3,119 |
| Property tax as a share of value | 0.53% | 0.76% | 0.94% |
| Median household income | $110,134 | $74,568 | $80,734 |
| Homes lived in by their owners | 88% | 68% | 65% |
| Owner homes with a mortgage | 47% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $3,028 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 33.2% | 23.6% | 21.0% |
| Median rent | $1,724 | $1,669 | $1,413 |
| Rent as a share of renters' income | 44.0% | 35.2% | 30.6% |
| Median year homes were built | 1986 | 1988 | 1980 |
| Vacant homes | 35.5% | 14.7% | 10.1% |
| Population | 4,258 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Big Pine Key
At this week's average 30-year rate of 7.11%, buying the median Big Pine Key home of $637,000 with 20% down costs about $3,975 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,036, 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 $170,352 for the 20%-down payment. That payment is 43% of the median Big Pine Key household income of $110,134; at that income and 20% down, the 28% guideline points to a home of about $412,000.
The median rent here is $1,724 a month, so owning the median home costs about $2,251 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $127,400 |
|---|---|
| Loan amount | $509,600 |
| Principal and interest | $3,428 |
| Property taxes (0.53% a year) | $281 |
| Homeowners insurance (our estimate, 0.5% a year) | $265 |
| PMI | $0 |
| Total per month | $3,975 |
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| Down payment | $22,295 |
|---|---|
| Loan amount | $625,462 |
| Principal and interest | $4,208 |
| Property taxes (0.53% a year) | $281 |
| Homeowners insurance (our estimate, 0.5% a year) | $265 |
| FHA mortgage insurance | $282 |
| Total per month | $5,036 |
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Questions about home buying in Big Pine Key
What is the median home value in Big Pine Key?
About $637,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Big Pine Key?
Homeowners pay a median $3,398 a year, which is about 0.53% 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 Big Pine Key?
For the median home with 20% down at 7.11%, the payment is about $3,975 a month. Keeping that under 28% of gross income takes about $170,352 a year.
More about Big Pine Key
- Mortgage Refinance in Big Pine Key
- Debt Relief in Big Pine Key
- Home Equity Loans in Big Pine Key
- 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