Total monthly cost of ownership
Cost to Own a Home in Coral Springs, Florida
A $503,000 home here costs
$4,183per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $179,500 a year.
A standard mortgage calculator would have told you $2,786. The real number is $1,397 higher every month, 50% more than the payment most buyers budget for.
Compare Broward County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Coral Springs against Broward County and Florida
| Measure | Coral Springs | Broward County |
|---|---|---|
| Median home value | $502,700 | $380,400 |
| Median property tax | $5,278 | $3,610 |
| Effective tax rate | 1.050% | 0.949% |
| Median gross rent | $1,951 | $1,804 |
| Population | 133,962 | 1,946,127 |
The weather behind that power bill
Coral Springs sits in Broward County, which averages a high of 91.4°F in its hottest month and a low of 59.1°F in its coldest, with 56.5" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 4,476 cooling and 146 heating degree days, which is what sets the $166 electricity line above.
See the full climate breakdown for Broward County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Broward County
Full Broward County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Coral Springs averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Coral Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Coral Springs I already own here and may sell
Common questions
How much does it cost to own a home in Coral Springs?
A $503,000 home in Coral Springs, Florida costs approximately $4,183 per month with 20% down at 7.4%. That is $2,786 principal and interest, $440 property tax, $304 homeowners insurance, $234 utilities and $419 set aside for maintenance.
What is the property tax rate in Coral Springs?
Coral Springs has an effective property tax rate of 1.050%, based on a median home value of $502,700 and median real estate taxes of $5,278. That is higher than the Broward County average of 0.949%.
What is the average home price in Coral Springs?
The median owner-occupied home value in Coral Springs, Florida is $502,700, against $380,400 across Broward County.
Is it cheaper to rent or buy in Coral Springs?
Median gross rent in Coral Springs is $1,951 a month, against $4,183 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Coral Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Coral Springs, Florida at today's rate takes a household income of roughly $179,500 a year. That covers the full $4,183 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Coral Springs, 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.