Total monthly cost of ownership
Cost to Own a Home in Longboat Key, Florida
A $959,000 home here costs
$7,184per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $4,930. The real number is $2,253 higher every month — 46% 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.
Longboat Key against Sarasota County and Florida
| Measure | Longboat Key | Sarasota County |
|---|---|---|
| Median home value | $959,200 | $373,100 |
| Median property tax | $8,048 | $2,826 |
| Effective tax rate | 0.839% | 0.757% |
| Median gross rent | $2,969 | $1,715 |
| Population | 7,512 | 449,011 |
Longboat Key extends across 2 counties. Figures here use Sarasota County, where most of its housing sits.
The weather behind that power bill
Longboat Key sits in Sarasota County, which averages a high of 92.5°F in its hottest month and a low of 50.0°F in its coldest, with 61.07" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 3,581 cooling and 417 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Sarasota County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sarasota County
Full Sarasota County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Longboat Key?
A $959,000 home in Longboat Key, Florida costs approximately $7,184 per month with 20% down at 6.66%. That is $4,930 principal and interest, $671 property tax, $579 homeowners insurance, $204 utilities and $799 set aside for maintenance.
What is the property tax rate in Longboat Key?
Longboat Key has an effective property tax rate of 0.839%, based on a median home value of $959,200 and median real estate taxes of $8,048. That is higher than the Sarasota County average of 0.757%.
What is the average home price in Longboat Key?
The median owner-occupied home value in Longboat Key, Florida is $959,200, against $373,100 across Sarasota County.
Is it cheaper to rent or buy in Longboat Key?
Median gross rent in Longboat Key is $2,969 a month, against $7,184 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 Longboat Key — 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.