Total monthly cost of ownership
Cost to Own a Home in Cedar Grove, Florida
A $147,000 home here costs
$1,230per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $756. The real number is $474 higher every month — 63% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cedar Grove against Bay County and Florida
| Measure | Cedar Grove | Bay County |
|---|---|---|
| Median home value | $147,400 | $276,900 |
| Median property tax | $703 | $1,653 |
| Effective tax rate | 0.477% | 0.597% |
| Median gross rent | $1,140 | $1,424 |
| Population | 2,911 | 181,368 |
The weather behind that power bill
Cedar Grove sits in Bay County, which averages a high of 89.7°F in its hottest month and a low of 44.4°F in its coldest, with 53.08" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 2,738 cooling and 1,224 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Bay County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bay County
Common questions
How much does it cost to own a home in Cedar Grove?
A $147,000 home in Cedar Grove, Florida costs approximately $1,230 per month with 20% down at 6.66%. That is $756 principal and interest, $58 property tax, $89 homeowners insurance, $204 utilities and $123 set aside for maintenance.
What is the property tax rate in Cedar Grove?
Cedar Grove has an effective property tax rate of 0.477%, based on a median home value of $147,400 and median real estate taxes of $703. That is lower than the Bay County average of 0.597%.
What is the average home price in Cedar Grove?
The median owner-occupied home value in Cedar Grove, Florida is $147,400, against $276,900 across Bay County.
Is it cheaper to rent or buy in Cedar Grove?
Median gross rent in Cedar Grove is $1,140 a month, against $1,230 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cedar Grove — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Florida.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.