The typical owner-occupied home in Lake Butler is worth about $930,500, 2.6 times the Florida median of $359,000 and 2.8 times the national median of $332,700. Owners pay a median $8,220 a year in property taxes, about 0.88% of their home's value, higher than the Florida rate of 0.76%. The median household earns $182,500 a year, so the median home costs 5.1 times the median income (4.8 times for Florida). 87% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Lake Butler at a glance
| Lake Butler | Florida | U.S. | |
|---|---|---|---|
| Median home value | $930,500 | $359,000 | $332,700 |
| Median property tax paid per year | $8,220 | $2,730 | $3,119 |
| Property tax as a share of value | 0.88% | 0.76% | 0.94% |
| Median household income | $182,500 | $74,568 | $80,734 |
| Homes lived in by their owners | 87% | 68% | 65% |
| Owner homes with a mortgage | 57% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $3,928 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 22.6% | 23.6% | 21.0% |
| Median rent | $2,487 | $1,669 | $1,413 |
| Rent as a share of renters' income | 51.0% | 35.2% | 30.6% |
| Median year homes were built | 2003 | 1988 | 1980 |
| Vacant homes | 11.2% | 14.7% | 10.1% |
| Population | 17,125 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Lake Butler
At this week's average 30-year rate of 7.11%, buying the median Lake Butler home of $930,500 with 20% down costs about $6,078 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,777, 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 $260,473 for the 20%-down payment. That payment is 40% of the median Lake Butler household income of $182,500; at that income and 20% down, the 28% guideline points to a home of about $652,000.
The median rent here is $2,487 a month, so owning the median home costs about $3,591 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $186,100 |
|---|---|
| Loan amount | $744,400 |
| Principal and interest | $5,008 |
| Property taxes (0.88% a year) | $682 |
| Homeowners insurance (our estimate, 0.5% a year) | $388 |
| PMI | $0 |
| Total per month | $6,078 |
Change the numbers in the calculator
| Down payment | $32,568 |
|---|---|
| Loan amount | $913,646 |
| Principal and interest | $6,146 |
| Property taxes (0.88% a year) | $682 |
| Homeowners insurance (our estimate, 0.5% a year) | $388 |
| FHA mortgage insurance | $561 |
| Total per month | $7,777 |
Change the numbers in the calculator
Questions about home buying in Lake Butler
What is the median home value in Lake Butler?
About $930,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lake Butler?
Homeowners pay a median $8,220 a year, which is about 0.88% 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 Lake Butler?
For the median home with 20% down at 7.11%, the payment is about $6,078 a month. Keeping that under 28% of gross income takes about $260,473 a year.
More about Lake Butler
- Mortgage Refinance in Lake Butler
- Debt Relief in Lake Butler
- Home Equity Loans in Lake Butler
- 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