Total monthly cost of ownership
Cost to Own a Home in Fanning Springs, Florida
A $149,000 home here costs
$1,343per 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 $57,500 a year.
A standard mortgage calculator would have told you $812. The real number is $531 higher every month, 65% more than the payment most buyers budget for.
Compare Levy County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Fanning Springs from a five-year rolling sample, and with about 1,154 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 Levy 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.
Fanning Springs against Levy County and Florida
| Measure | Fanning Springs | Levy County |
|---|---|---|
| Median home value | $148,600 | $171,400 |
| Median property tax | $992 | $1,110 |
| Effective tax rate | 0.668% | 0.648% |
| Median gross rent | $795 | $826 |
| Population | 1,154 | 44,276 |
Fanning Springs extends across 2 counties. Figures here use Levy County, where most of its housing sits.
The weather behind that power bill
Fanning Springs sits in Levy County, which averages a high of 89.4°F in its hottest month and a low of 44.1°F in its coldest, with 57.1" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 2,656 cooling and 1,097 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Levy County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Levy County
Talk to someone who works this market
These are Fanning 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 Fanning Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Fanning Springs I already own here and may sell
Common questions
How much does it cost to own a home in Fanning Springs?
A $149,000 home in Fanning Springs, Florida costs approximately $1,343 per month with 20% down at 7.24%. That is $812 principal and interest, $83 property tax, $90 homeowners insurance, $233 utilities and $124 set aside for maintenance.
What is the property tax rate in Fanning Springs?
Fanning Springs has an effective property tax rate of 0.668%, based on a median home value of $148,600 and median real estate taxes of $992. That is higher than the Levy County average of 0.648%.
What is the average home price in Fanning Springs?
The median owner-occupied home value in Fanning Springs, Florida is $148,600, against $171,400 across Levy County.
Is it cheaper to rent or buy in Fanning Springs?
Median gross rent in Fanning Springs is $795 a month, against $1,343 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 Fanning Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Fanning Springs, Florida at today's rate takes a household income of roughly $57,500 a year. That covers the full $1,343 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fanning 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.