Total monthly cost of ownership
Cost to Own a Home in Lutz, Florida
A $452,000 home here costs
$3,653per 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 $156,500 a year.
A standard mortgage calculator would have told you $2,464. The real number is $1,189 higher every month, 48% more than the payment most buyers budget for.
Compare Hillsborough County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lutz against Hillsborough County and Florida
| Measure | Lutz | Hillsborough County |
|---|---|---|
| Median home value | $451,800 | $333,300 |
| Median property tax | $3,670 | $2,787 |
| Effective tax rate | 0.812% | 0.836% |
| Median gross rent | $1,648 | $1,543 |
| Population | 26,731 | 1,489,634 |
The weather behind that power bill
Lutz sits in Hillsborough County, which averages a high of 91.2°F in its hottest month and a low of 52.8°F in its coldest, with 49.48" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 3,928 cooling and 433 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Hillsborough County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hillsborough County
Full Hillsborough County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Lutz 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 Lutz every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Lutz?
A $452,000 home in Lutz, Florida costs approximately $3,653 per month with 20% down at 7.24%. That is $2,464 principal and interest, $306 property tax, $273 homeowners insurance, $233 utilities and $377 set aside for maintenance.
What is the property tax rate in Lutz?
Lutz has an effective property tax rate of 0.812%, based on a median home value of $451,800 and median real estate taxes of $3,670. That is lower than the Hillsborough County average of 0.836%.
What is the average home price in Lutz?
The median owner-occupied home value in Lutz, Florida is $451,800, against $333,300 across Hillsborough County.
Is it cheaper to rent or buy in Lutz?
Median gross rent in Lutz is $1,648 a month, against $3,653 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 Lutz?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lutz, Florida at today's rate takes a household income of roughly $156,500 a year. That covers the full $3,653 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lutz, 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.