Total monthly cost of ownership
Cost to Own a Home in Lake Hamilton, Florida
A $195,000 home here costs
$1,632per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,002. The real number is $630 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 Hamilton against Polk County and Florida
| Measure | Lake Hamilton | Polk County |
|---|---|---|
| Median home value | $195,200 | $240,000 |
| Median property tax | $1,746 | $1,769 |
| Effective tax rate | 0.894% | 0.737% |
| Median gross rent | $1,056 | $1,272 |
| Population | 1,767 | 760,961 |
The weather behind that power bill
Lake Hamilton sits in Polk County, which averages a high of 92.9°F in its hottest month and a low of 51.9°F in its coldest, with 46.12" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 3,929 cooling and 421 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Polk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Common questions
How much does it cost to own a home in Lake Hamilton?
A $195,000 home in Lake Hamilton, Florida costs approximately $1,632 per month with 20% down at 6.66%. That is $1,002 principal and interest, $145 property tax, $118 homeowners insurance, $204 utilities and $163 set aside for maintenance.
What is the property tax rate in Lake Hamilton?
Lake Hamilton has an effective property tax rate of 0.894%, based on a median home value of $195,200 and median real estate taxes of $1,746. That is higher than the Polk County average of 0.737%.
What is the average home price in Lake Hamilton?
The median owner-occupied home value in Lake Hamilton, Florida is $195,200, against $240,000 across Polk County.
Is it cheaper to rent or buy in Lake Hamilton?
Median gross rent in Lake Hamilton is $1,056 a month, against $1,632 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 Hamilton — 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.