The typical owner-occupied home in Freeport is worth about $407,800, 14% above the Florida median of $359,000 and 23% above the national median of $332,700. Owners pay a median $2,304 a year in property taxes, about 0.56% of their home's value, lower than the Florida rate of 0.76%. The median household earns $91,985 a year, so the median home costs 4.4 times the median income (4.8 times for Florida). 72% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Freeport at a glance
| Freeport | Florida | U.S. | |
|---|---|---|---|
| Median home value | $407,800 | $359,000 | $332,700 |
| Median property tax paid per year | $2,304 | $2,730 | $3,119 |
| Property tax as a share of value | 0.56% | 0.76% | 0.94% |
| Median household income | $91,985 | $74,568 | $80,734 |
| Homes lived in by their owners | 72% | 68% | 65% |
| Owner homes with a mortgage | 74% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,071 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 26.4% | 23.6% | 21.0% |
| Median rent | $1,859 | $1,669 | $1,413 |
| Rent as a share of renters' income | 30.4% | 35.2% | 30.6% |
| Median year homes were built | 2014 | 1988 | 1980 |
| Vacant homes | 6.8% | 14.7% | 10.1% |
| Population | 6,689 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Freeport
At this week's average 30-year rate of 7.11%, buying the median Freeport home of $407,800 with 20% down costs about $2,555 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,234, 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 $109,494 for the 20%-down payment. That payment is 33% of the median Freeport household income of $91,985; at that income and 20% down, the 28% guideline points to a home of about $343,000.
The median rent here is $1,859 a month, so owning the median home costs about $696 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $81,560 |
|---|---|
| Loan amount | $326,240 |
| Principal and interest | $2,195 |
| Property taxes (0.56% a year) | $190 |
| Homeowners insurance (our estimate, 0.5% a year) | $170 |
| PMI | $0 |
| Total per month | $2,555 |
Change the numbers in the calculator
| Down payment | $14,273 |
|---|---|
| Loan amount | $400,414 |
| Principal and interest | $2,694 |
| Property taxes (0.56% a year) | $190 |
| Homeowners insurance (our estimate, 0.5% a year) | $170 |
| FHA mortgage insurance | $180 |
| Total per month | $3,234 |
Change the numbers in the calculator
Questions about home buying in Freeport
What is the median home value in Freeport?
About $407,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Freeport?
Homeowners pay a median $2,304 a year, which is about 0.56% 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 Freeport?
For the median home with 20% down at 7.11%, the payment is about $2,555 a month. Keeping that under 28% of gross income takes about $109,494 a year.
More about Freeport
- Mortgage Refinance in Freeport
- Debt Relief in Freeport
- Home Equity Loans in Freeport
- 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