Total monthly cost of ownership
Cost to Own a Home in Lake Butler, Florida
A $154,000 home here costs
$1,288per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $792. The real number is $496 higher every month — 63% 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.
Lake Butler against Union County and Florida
| Measure | Lake Butler | Union County |
|---|---|---|
| Median home value | $154,200 | $160,400 |
| Median property tax | $847 | $931 |
| Effective tax rate | 0.549% | 0.580% |
| Median gross rent | $725 | $846 |
| Population | 1,842 | 15,551 |
The weather behind that power bill
Lake Butler sits in Union County, which averages a high of 91.1°F in its hottest month and a low of 42.6°F in its coldest, with 48.31" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 2,741 cooling and 1,139 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Union County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Union County
No other places of this size are published in Union County.
Common questions
How much does it cost to own a home in Lake Butler?
A $154,000 home in Lake Butler, Florida costs approximately $1,288 per month with 20% down at 6.66%. That is $792 principal and interest, $70 property tax, $93 homeowners insurance, $204 utilities and $128 set aside for maintenance.
What is the property tax rate in Lake Butler?
Lake Butler has an effective property tax rate of 0.549%, based on a median home value of $154,200 and median real estate taxes of $847. That is lower than the Union County average of 0.580%.
What is the average home price in Lake Butler?
The median owner-occupied home value in Lake Butler, Florida is $154,200, against $160,400 across Union County.
Is it cheaper to rent or buy in Lake Butler?
Median gross rent in Lake Butler is $725 a month, against $1,288 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 Lake Butler — 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.