Florida has no state income tax, but 2026 buyers face a new challenge: homeowner insurance costs have doubled in many areas.

Florida buying power on $70K

  • Gross monthly: $5,833
  • Front-end limit (28%): $1,633/month
  • Florida property tax: ~0.9% (lower than Texas)
  • Homeowner insurance: $2,500–$4,000/year (rising fast!)

That $1,633/month buys roughly $230k–$260k after accounting for Florida's steep insurance.

The Florida insurance crisis

This is the #1 factor for 2026 Florida buyers:

  • Average premium up 40%+ since 2022
  • Some insurers leaving the state entirely
  • Flood insurance often required separately
  • Budget $250–$350/month for insurance alone

Best Florida metros for $70K

  • Jacksonville: Median ~$300k — possible in suburbs
  • Tampa: Median ~$380k — tough on $70K
  • Orlando: Median ~$390k — stretch
  • Miami: Median ~$550k — out of range

The math

  • Max housing: $1,633/month
  • Property tax (~$200 on $250k)
  • Insurance (~$275 — Florida reality)
  • PMI if <20% down (~$120)
  • Available for P&I: ~$1,038/month
  • Home price: ~$246,000

Try our free calculator with your Florida county's tax rate.