Total monthly cost of ownership
Cost to Own a Home in Gifford, Florida
A $259,000 home here costs
$2,043per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,332. The real number is $711 higher every month — 53% 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.
Gifford against Indian River County and Florida
| Measure | Gifford | Indian River County |
|---|---|---|
| Median home value | $259,300 | $314,700 |
| Median property tax | $1,617 | $2,288 |
| Effective tax rate | 0.624% | 0.727% |
| Median gross rent | $890 | $1,284 |
| Population | 4,658 | 163,856 |
The weather behind that power bill
Gifford sits in Indian River County, which averages a high of 90.3°F in its hottest month and a low of 51.2°F in its coldest, with 51.17" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 3,391 cooling and 418 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Indian River County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Indian River County
Full Indian River County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Gifford?
A $259,000 home in Gifford, Florida costs approximately $2,043 per month with 20% down at 6.66%. That is $1,332 principal and interest, $135 property tax, $156 homeowners insurance, $204 utilities and $216 set aside for maintenance.
What is the property tax rate in Gifford?
Gifford has an effective property tax rate of 0.624%, based on a median home value of $259,300 and median real estate taxes of $1,617. That is lower than the Indian River County average of 0.727%.
What is the average home price in Gifford?
The median owner-occupied home value in Gifford, Florida is $259,300, against $314,700 across Indian River County.
Is it cheaper to rent or buy in Gifford?
Median gross rent in Gifford is $890 a month, against $2,043 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 Gifford — 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.