Home Affordability in Jacksonville, FL
The median home price in Jacksonville is $310,000 with a median household income of $58,235. Housing is significantly stretched relative to local incomes.
Median Home Price
$310,000
Median Income
$58,235
Price-to-Income Ratio
5.3x
Est. Affordable Home
$226,000
Property Tax Rate
0.83%
Annual Property Tax
$2,573
Sales Tax Rate
7.50%
Cost of Living Index
95
Buying a Home in Jacksonville
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $58,235 in Jacksonville can afford a monthly housing payment of approximately $1,359. This translates to a home price of roughly $226,000, which is below the median home price of $310,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Jacksonville would be approximately $2,573 per year ($214/month) at the effective rate of 0.83%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $9,300 | $300,700 | Yes |
| 5% | $15,500 | $294,500 | Yes |
| 10% | $31,000 | $279,000 | Yes |
| 20% | $62,000 | $248,000 | No |
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