The typical owner-occupied home in Mulberry is worth about $133,800, 63% below the Florida median of $359,000 and 60% below the national median of $332,700. Owners pay a median $1,783 a year in property taxes, about 1.33% of their home's value, higher than the Florida rate of 0.76%. The median household earns $57,708 a year, so the median home costs 2.3 times the median income (4.8 times for Florida). 79% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Mulberry at a glance
| Mulberry | Florida | U.S. | |
|---|---|---|---|
| Median home value | $133,800 | $359,000 | $332,700 |
| Median property tax paid per year | $1,783 | $2,730 | $3,119 |
| Property tax as a share of value | 1.33% | 0.76% | 0.94% |
| Median household income | $57,708 | $74,568 | $80,734 |
| Homes lived in by their owners | 79% | 68% | 65% |
| Owner homes with a mortgage | 40% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,641 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 31.3% | 23.6% | 21.0% |
| Median rent | $920 | $1,669 | $1,413 |
| Rent as a share of renters' income | 33.5% | 35.2% | 30.6% |
| Median year homes were built | 1989 | 1988 | 1980 |
| Vacant homes | 11.7% | 14.7% | 10.1% |
| Population | 4,188 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Mulberry
At this week's average 30-year rate of 7.11%, buying the median Mulberry home of $133,800 with 20% down costs about $924 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,147, 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 $39,605 for the 20%-down payment. That payment is 19% of the median Mulberry household income of $57,708; at that income and 20% down, the 28% guideline points to a home of about $195,000.
The median rent here is $920 a month, so owning the median home costs about $4 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,760 |
|---|---|
| Loan amount | $107,040 |
| Principal and interest | $720 |
| Property taxes (1.33% a year) | $148 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $924 |
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| Down payment | $4,683 |
|---|---|
| Loan amount | $131,377 |
| Principal and interest | $884 |
| Property taxes (1.33% a year) | $148 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $59 |
| Total per month | $1,147 |
Change the numbers in the calculator
Questions about home buying in Mulberry
What is the median home value in Mulberry?
About $133,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mulberry?
Homeowners pay a median $1,783 a year, which is about 1.33% 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 Mulberry?
For the median home with 20% down at 7.11%, the payment is about $924 a month. Keeping that under 28% of gross income takes about $39,605 a year.
More about Mulberry
- Mortgage Refinance in Mulberry
- Debt Relief in Mulberry
- Home Equity Loans in Mulberry
- 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