Total monthly cost of ownership
Cost to Own a Home in East Palatka, Florida
A $240,000 home here costs
$2,070per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $88,500 a year.
A standard mortgage calculator would have told you $1,308. The real number is $762 higher every month, 58% more than the payment most buyers budget for.
Compare Putnam County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for East Palatka from a five-year rolling sample, and with about 1,536 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Putnam County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
East Palatka against Putnam County and Florida
| Measure | East Palatka | Putnam County |
|---|---|---|
| Median home value | $240,100 | $147,300 |
| Median property tax | $2,200 | $1,196 |
| Effective tax rate | 0.916% | 0.812% |
| Median gross rent | $1,057 | $902 |
| Population | 1,536 | 74,235 |
The weather behind that power bill
East Palatka sits in Putnam County, which averages a high of 90.0°F in its hottest month and a low of 47.1°F in its coldest, with 51.4" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 2,776 cooling and 938 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Putnam County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Putnam County
Talk to someone who works this market
These are East Palatka 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 East Palatka every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in East Palatka?
A $240,000 home in East Palatka, Florida costs approximately $2,070 per month with 20% down at 7.24%. That is $1,308 principal and interest, $183 property tax, $145 homeowners insurance, $233 utilities and $200 set aside for maintenance.
What is the property tax rate in East Palatka?
East Palatka has an effective property tax rate of 0.916%, based on a median home value of $240,100 and median real estate taxes of $2,200. That is higher than the Putnam County average of 0.812%.
What is the average home price in East Palatka?
The median owner-occupied home value in East Palatka, Florida is $240,100, against $147,300 across Putnam County.
Is it cheaper to rent or buy in East Palatka?
Median gross rent in East Palatka is $1,057 a month, against $2,070 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 East Palatka?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in East Palatka, Florida at today's rate takes a household income of roughly $88,500 a year. That covers the full $2,070 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for East Palatka, 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.