The typical owner-occupied home in Longboat Key is worth about $1,022,100, 2.8 times the Florida median of $359,000 and 3.1 times the national median of $332,700. Owners pay a median $8,439 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 $158,030 a year, so the median home costs 6.5 times the median income (4.8 times for Florida). 94% of occupied homes here are lived in by their owners, and 30% of those owners still have a mortgage.
Longboat Key at a glance
| Longboat Key | Florida | U.S. | |
|---|---|---|---|
| Median home value | $1,022,100 | $359,000 | $332,700 |
| Median property tax paid per year | $8,439 | $2,730 | $3,119 |
| Property tax as a share of value | 0.83% | 0.76% | 0.94% |
| Median household income | $158,030 | $74,568 | $80,734 |
| Homes lived in by their owners | 94% | 68% | 65% |
| Owner homes with a mortgage | 30% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 26.1% | 23.6% | 21.0% |
| Median rent | $3,501 | $1,669 | $1,413 |
| Rent as a share of renters' income | 38.1% | 35.2% | 30.6% |
| Median year homes were built | 1980 | 1988 | 1980 |
| Vacant homes | 57.5% | 14.7% | 10.1% |
| Population | 7,539 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Longboat Key
At this week's average 30-year rate of 7.11%, buying the median Longboat Key home of $1,022,100 with 20% down costs about $6,633 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $8,500, 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 $284,289 for the 20%-down payment. That payment is 50% of the median Longboat Key household income of $158,030; at that income and 20% down, the 28% guideline points to a home of about $568,000.
The median rent here is $3,501 a month, so owning the median home costs about $3,132 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $204,420 |
|---|---|
| Loan amount | $817,680 |
| Principal and interest | $5,501 |
| Property taxes (0.83% a year) | $707 |
| Homeowners insurance (our estimate, 0.5% a year) | $426 |
| PMI | $0 |
| Total per month | $6,633 |
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| Down payment | $35,774 |
|---|---|
| Loan amount | $1,003,587 |
| Principal and interest | $6,751 |
| Property taxes (0.83% a year) | $707 |
| Homeowners insurance (our estimate, 0.5% a year) | $426 |
| FHA mortgage insurance | $616 |
| Total per month | $8,500 |
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Questions about home buying in Longboat Key
What is the median home value in Longboat Key?
About $1,022,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Longboat Key?
Homeowners pay a median $8,439 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 Longboat Key?
For the median home with 20% down at 7.11%, the payment is about $6,633 a month. Keeping that under 28% of gross income takes about $284,289 a year.
More about Longboat Key
- Mortgage Refinance in Longboat Key
- Debt Relief in Longboat Key
- Home Equity Loans in Longboat 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