Total monthly cost of ownership
Cost to Own a Home in Lake Butler, Florida
A $154,000 home here costs
$1,365per 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 $58,500 a year.
A standard mortgage calculator would have told you $840. The real number is $525 higher every month, 63% more than the payment most buyers budget for.
Compare Union County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lake Butler from a five-year rolling sample, and with about 1,842 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 Union 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.
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 $165 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.
Talk to someone who works this market
These are Lake Butler 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 Lake Butler every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Butler I already own here and may sell
Common questions
How much does it cost to own a home in Lake Butler?
A $154,000 home in Lake Butler, Florida costs approximately $1,365 per month with 20% down at 7.24%. That is $840 principal and interest, $70 property tax, $93 homeowners insurance, $233 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 $1,365 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 Lake Butler?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Butler, Florida at today's rate takes a household income of roughly $58,500 a year. That covers the full $1,365 monthly cost, not just the mortgage payment.
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.