Income Needed to Buy a Home in Florida (2026)
Verdict: unaffordable — requires $120,466/year (#12 least affordable of 51 US states)
Florida ranks #12 of 51 US states for housing unaffordability in 2026. Buying the median home at $375,662 requires a household income of about $120,466. That's $42,731 more than the median household actually earns ($77,735) — a shortfall of 55% of typical income.
Florida's affordability ratio of 1.55 (required income ÷ actual median income) is 21.3% worse than the median across all 51 US states (1.28). Home prices here sit 8.4% above the cross-state median of $346,668.
An effective property tax rate of 0.74% adds $232 per month — and homeowners insurance is a real burden here at $5,838/year ($487/month), well above what most states pay. All-in, the monthly PITI (principal, interest, taxes, insurance) comes to $2,811. Florida has no state income tax, which effectively boosts take-home pay relative to the sticker income requirement.
Florida monthly cost breakdown (2026)
| Median home price | $375,662 |
| Loan amount (10% down) | $338,095 |
| Monthly principal & interest | $2,093 |
| Monthly property tax (0.74% rate) | $232 |
| Monthly homeowners insurance | $487 |
| Total monthly PITI | $2,811 |
| Required household income | $120,466 |
| Median household income | $77,735 |
Run your own numbers
These figures model the median buyer. Your rate, down payment, and debts change the answer — check your personal maximum with the Home Affordability Analyzer or build a full payment schedule in the Advanced Mortgage Calculator. Closing costs typically add 2–5% on top — estimate them with the Closing Costs Estimator.
How Florida compares
- Idaho — similar affordability (ratio 1.55, requires $126,154)
- Colorado — similar affordability (ratio 1.56, requires $151,225)
- Maine — similar affordability (ratio 1.51, requires $115,341)
- West Virginia — among the most affordable US states (requires $48,369)
- Iowa — among the most affordable US states (requires $74,199)
See every state and province ranked in the 2026 Mortgage Affordability Index.
Frequently asked questions
How much income do you need to buy a house in Florida in 2026?
About $120,466 per year to afford the median-priced home of $375,662, assuming a 10% down payment and standard 28% housing-cost-to-income guideline. The median Florida household earns $77,735.
What is the monthly cost of owning a median home in Florida?
Roughly $2,811 per month, including principal and interest, property tax, and homeowners insurance.
Is Florida affordable at the median income?
No. The required income exceeds the median household income by $42,731 (55%), ranking Florida #12 least affordable of 51 US states.
Methodology & sources
Assumes 10% down, 30-year fixed at prevailing 2026 rates, 28% housing-cost-to-income guideline. Home prices from Zillow ZHVI (March 2026); incomes from Census ACS 1-Year 2024; property taxes from Tax Foundation; insurance from Bankrate state averages. Figures model the median scenario and are not financial advice. Full sources on the affordability index.