The typical owner-occupied home in Destin is worth about $490,300, 37% above the Florida median of $359,000 and 47% above the national median of $332,700. Owners pay a median $3,083 a year in property taxes, about 0.63% of their home's value, lower than the Florida rate of 0.76%. The median household earns $89,011 a year, so the median home costs 5.5 times the median income (4.8 times for Florida). 70% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Destin at a glance
| Destin | Florida | U.S. | |
|---|---|---|---|
| Median home value | $490,300 | $359,000 | $332,700 |
| Median property tax paid per year | $3,083 | $2,730 | $3,119 |
| Property tax as a share of value | 0.63% | 0.76% | 0.94% |
| Median household income | $89,011 | $74,568 | $80,734 |
| Homes lived in by their owners | 70% | 68% | 65% |
| Owner homes with a mortgage | 56% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,364 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 26.4% | 23.6% | 21.0% |
| Median rent | $1,936 | $1,669 | $1,413 |
| Rent as a share of renters' income | 29.8% | 35.2% | 30.6% |
| Median year homes were built | 1992 | 1988 | 1980 |
| Vacant homes | 54.5% | 14.7% | 10.1% |
| Population | 14,077 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Destin
At this week's average 30-year rate of 7.11%, buying the median Destin home of $490,300 with 20% down costs about $3,100 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,917, 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 $132,871 for the 20%-down payment. That payment is 42% of the median Destin household income of $89,011; at that income and 20% down, the 28% guideline points to a home of about $328,000.
The median rent here is $1,936 a month, so owning the median home costs about $1,164 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $98,060 |
|---|---|
| Loan amount | $392,240 |
| Principal and interest | $2,639 |
| Property taxes (0.63% a year) | $257 |
| Homeowners insurance (our estimate, 0.5% a year) | $204 |
| PMI | $0 |
| Total per month | $3,100 |
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| Down payment | $17,160 |
|---|---|
| Loan amount | $481,419 |
| Principal and interest | $3,239 |
| Property taxes (0.63% a year) | $257 |
| Homeowners insurance (our estimate, 0.5% a year) | $204 |
| FHA mortgage insurance | $217 |
| Total per month | $3,917 |
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Questions about home buying in Destin
What is the median home value in Destin?
About $490,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Destin?
Homeowners pay a median $3,083 a year, which is about 0.63% 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 Destin?
For the median home with 20% down at 7.11%, the payment is about $3,100 a month. Keeping that under 28% of gross income takes about $132,871 a year.
More about Destin
- Mortgage Refinance in Destin
- Debt Relief in Destin
- Home Equity Loans in Destin
- 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