Total monthly cost of ownership
Cost to Own a Home in Inverness Highlands North, Florida
A $166,000 home here costs
$1,357per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $853. The real number is $504 higher every month — 59% 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.
Inverness Highlands North against Citrus County and Florida
| Measure | Inverness Highlands North | Citrus County |
|---|---|---|
| Median home value | $166,300 | $223,200 |
| Median property tax | $729 | $1,320 |
| Effective tax rate | 0.438% | 0.591% |
| Median gross rent | $2,525 | $1,069 |
| Population | 2,785 | 158,693 |
The weather behind that power bill
Inverness Highlands North sits in Citrus County, which averages a high of 90.9°F in its hottest month and a low of 44.3°F in its coldest, with 51.94" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 2,965 cooling and 876 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Citrus County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Citrus County
Common questions
How much does it cost to own a home in Inverness Highlands North?
A $166,000 home in Inverness Highlands North, Florida costs approximately $1,357 per month with 20% down at 6.66%. That is $853 principal and interest, $61 property tax, $100 homeowners insurance, $204 utilities and $138 set aside for maintenance.
What is the property tax rate in Inverness Highlands North?
Inverness Highlands North has an effective property tax rate of 0.438%, based on a median home value of $166,300 and median real estate taxes of $729. That is lower than the Citrus County average of 0.591%.
What is the average home price in Inverness Highlands North?
The median owner-occupied home value in Inverness Highlands North, Florida is $166,300, against $223,200 across Citrus County.
Is it cheaper to rent or buy in Inverness Highlands North?
Median gross rent in Inverness Highlands North is $2,525 a month, against $1,357 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Inverness Highlands North — 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.