How Much House Can You Afford in Florida?
Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Florida's median income of $63,000/year ($5,250/month), that means a maximum housing payment of roughly $1,470/month.
At 6.75% over 30 years with a 10% down payment ($41,500), that monthly budget supports a purchase price of approximately $394,250–$415,000. The median home price in Florida is $415,000, which means housing is near the national average.