Total monthly cost of ownership
Cost to Own a Home in Destin, Florida
A $455,000 home here costs
$3,439per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,339. The real number is $1,100 higher every month — 47% 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.
Destin against Okaloosa County and Florida
| Measure | Destin | Okaloosa County |
|---|---|---|
| Median home value | $455,100 | $324,800 |
| Median property tax | $2,896 | $1,948 |
| Effective tax rate | 0.636% | 0.600% |
| Median gross rent | $1,913 | $1,475 |
| Population | 14,018 | 214,281 |
The weather behind that power bill
Destin sits in Okaloosa County, which averages a high of 92.4°F in its hottest month and a low of 38.5°F in its coldest, with 63.6" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 2,499 cooling and 1,739 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Okaloosa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Okaloosa County
Full Okaloosa County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Destin?
A $455,000 home in Destin, Florida costs approximately $3,439 per month with 20% down at 6.66%. That is $2,339 principal and interest, $241 property tax, $275 homeowners insurance, $204 utilities and $379 set aside for maintenance.
What is the property tax rate in Destin?
Destin has an effective property tax rate of 0.636%, based on a median home value of $455,100 and median real estate taxes of $2,896. That is higher than the Okaloosa County average of 0.600%.
What is the average home price in Destin?
The median owner-occupied home value in Destin, Florida is $455,100, against $324,800 across Okaloosa County.
Is it cheaper to rent or buy in Destin?
Median gross rent in Destin is $1,913 a month, against $3,439 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 Destin — 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.