How Much Does It Cost to Buy a House in Florida?

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By Alex Long Updated September 1, 2023


If you're considering buying a house, the first thing on your mind is probably how much it will cost. The answer isn't simple. The cost to buy a home varies considerably depending on your area and what kind of house you are looking for.

That said, in Florida the median home value is $406,988 and most home buyers spend between $31,050, and $111,830 to close on a property.

On the bright side, Clever Real Estate can make this process easier and a little more affordable. By working with a Clever-recommended agent, you will get top-notch service and could be eligible for cash back on your home purchase.

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Average cost to buy a house in Florida

The average cost to buy a house in Florida is mostly determined by the down payment and the sale price of the home. Although, there are a number of other factors that contribute to the total cost of buying a home.

Below is a quick overview of the major expenses associated with buying a Florida home:

Expense Description Amount
Earnest money deposit Good faith money that acts like a security deposit $4,070 to $12,210
Down payment (3.5-20%) Initial cash investment in the house that determines your equity $14,245 to $81,398
Reserves Lenders often require you to have enough cash to pay your bills for 2–3 months when buying a home $3,693 to $5,540
Closing costs Additional expenses that must be paid to close on a house $7,483
Inspection A certified inspector checks the property for any issues that need to be fixed $154
Appraisal A qualified appraiser analyzes the property and the local market to determine its fair market value $156
Moving Although it usually happens after closing, you need to account for the cost to move $1,250 to $4,890
Furnishing Many homebuyers like to fill their new home with new furniture and appliances Varies
Total $31,050 to $111,830
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Although this list covers most of the major expenses, you should be aware that every situation is a little different, and your purchase may allow for negotiating down some expenses or you may have to pay a little extra. A good agent can help you navigate these details throughout the process.

Specific Florida closing costs

In Florida, the majority buyer closing costs tend to pay for expenses related to the mortgage and payments (e.g., underwriting fee). The average closing costs in Florida for home buyers tend to be about $7,483, but these can vary depending on your area.

Below is a table outlining the most common closing costs you can expect to pay:

Closing cost What is it? Amount
Closing fee Paid to the escrow company or agent for conducting the closing process. $407
Recording fee Paid to local government to update land ownership records $318
Title service fees Looks for claims on the property to ensure title is clear $842
Origination fee Fee paid to the lender for the work involved in underwriting and processing your loan. $2,035
Underwriting fee Lenders charge a fee for verifying your loan paperwork $600
Discount points Money paid to your lender to bring down your loan's interest rate. One point equals 1% of the loan amount. $3,256 per point
Lender's title insurance Protects lenders from future claims on the title of the home. $25
Owner's title insurance Protects buyers from future claims on the title of the home. Typically paid by seller
Prorated property tax Buyers must pay the property taxes for the home, prorated for the remainder of the year Varies
Transfer tax Some states tax the transfer of ownership in a property Typically paid by the seller
Total $7,483 + taxes
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» LEARN: How much will you pay for closing costs in Florida?

Average cost to buy a house in major Florida cities

The most important aspect of real estate is location, location, location. State averages can give you a general idea of what to expect, but buying a beach-front condo in Miami is likely to be very different from a single-family home in Jacksonville.

In Florida, some of the most popular places to buy a house include: Miami, Orlando, Pensacola, Port St. Lucie, and Tampa. Below are the average home prices and cost to buy a home in each city:

Finding an agent who is an expert in your area is one of the best ways to save money and get a great deal on your next home purchase.

Contact us at Clever for top agent recommendations.

How much do I need to buy a house in Florida?

How much money you need to buy a house in Florida is mostly determined by the sale price and the percentage of down payment you make. If the home needs immediate repairs or renovations, that could significantly increase your upfront cash investment. For most buyers, however, the down payment, closing costs, and lender fees will comprise most of the money they need to close on a home.

The table below shows how much you'd need for various size down payments at common price points in Florida, since that is usually the largest expense you need to pay up front.

Home price With 3.5% down payment With 10% down payment With 20% down payment
$100,000 $3,500 $10,000 $20,000
$250,000 $8,750 $25,000 $50,000
$500,000 $17,500 $50,000 $100,000
$750,000 $26,250 $75,000 $150,000
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You will also need to account for closing costs, inspections, and appraisals, but remember that some of these expenses are negotiable — you may be able to convince the seller to cover some of these expenses if there isn't too much demand for the house.

Cost to buy a house in Florida calculator

For a more specific estimate of how much money you'll need for a certain house with a specific down payment, use our home buyer calculator below.

Ongoing costs of homeownership in Florida

When buying a house, you want to consider the cost of owning the home after the purchase, as well as the cost to buy it.

Besides your mortgage payment, you also need to account for taxes, insurance, maintenance, repairs, and possibly upgrades. There can be quite a bit of range for most of those expenses, but most experts recommend earmarking one percent of your home's value for maintenance and repairs.

» MORE: The true cost of home ownership

If you make a down payment of less than 20%, your lender will probably charge you private mortgage insurance (PMI) until you reach the required level of equity to get the monthly fee removed. This compensates the lender for the additional risk they are taking of losing money if a borrower defaults without adequate equity in the home.

Also, be aware that some houses belong to a homeowner's association (HOA), which usually include a monthly fee. These fees vary widely depending on the area and what they pay for, but the national average is about $250 per month.

Top ways to save money when buying a house in Florida

Often the cost of buying a house makes homeownership cost prohibitive for many potential buyers. There are, however, some strategies you can implement to save money and stretch how far your dollars go.

Look into better financing options

As a buyer, most of the costs associated with buying a house will be strongly influenced by the kind of financing you have. Making a larger down payment will help to keep your interest rate low and eliminate the PMI if you pay at least 20% of the purchase price.

But for some people, that's just too much money to come out of pocket for. You still have options for saving money on financing. Paying off debts and boosting your credit score will make you a more appealing borrower, which could result in a lower interest rate and lower mortgage payments.

If you're a repeat customer, you might also ask your lender to lower or eliminate unnecessary fees. Alternatively, using a broker might help you shop around for a lender who offers you the best financing options with minimal fees.

You could also look into no closing cost loans if you're more concerned about the up-front cost, but these tend to come with a higher interest rate and cost you more in the long run.

» MORE: Other considerations for saving money when buying a home

Participate in home buyer programs Florida

Florida has a variety of programs aimed at helping people begin their homeownership journey (e.g., FL Assist, Hometown Heroes). Some of these programs offer better financing, down payment assistance, or lower application requirements. Others are directed at helping specific demographics like the disabled community, veterans, or first-time home buyers.

» MORE: A guide to first-time home buyer programs everyone should know about

Partner with an expert agent offering cash back

Some real estate companies, like Clever, offer home buyers a percentage of their home's price back after the sale finalizes.

That means if you work with a Clever agent, you'll not only get the expertise that helps you get the best deal possible — you could also get some money back after closing!

Find your agent through Clever, qualify for cash back!

Clever matches you with top local agents so you can compare options and choose the best fit. And eligible buyers can get cash back after closing.

Fill out the form below and get started now. Clever's service is 100% free with no obligation.


What is the average cost of a home in Florida?

The average home value of a house in Florida is $406,988. The amount of money someone needs to buy a house at that price point, however, varies considerably depending on down payment size, closing costs, and other home buying expenses. The average home buyer in Florida spends between $31,050 and $111,830 on the total costs to purchase a home.

How much are closing costs on the average home in Florida?

Closing costs vary depending on the location, the terms of financing, and the sale price of the home. That said, the average home buyer in Florida spends about $7,483 when purchasing a home. Sometimes buyers can negotiate for sellers to contribute toward this cost, depending on the demand for the property.

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