Total monthly cost of ownership
Cost to Own a Home in Malone, Florida
A $74,000 home here costs
$784per 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 $33,500 a year.
A standard mortgage calculator would have told you $403. The real number is $380 higher every month, 94% more than the payment most buyers budget for.
Compare Jackson County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Malone from a five-year rolling sample, and with about 2,275 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 Jackson 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.
Malone against Jackson County and Florida
| Measure | Malone | Jackson County |
|---|---|---|
| Median home value | $73,600 | $113,900 |
| Median property tax | $481 | $625 |
| Effective tax rate | 0.654% | 0.549% |
| Median gross rent | $738 | $846 |
| Population | 2,275 | 47,652 |
The weather behind that power bill
Malone sits in Jackson County, which averages a high of 92.4°F in its hottest month and a low of 40.7°F in its coldest, with 51.11" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,755 cooling and 1,522 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Jackson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jackson County
Full Jackson County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Malone 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 Malone every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Malone I already own here and may sell
Common questions
How much does it cost to own a home in Malone?
A $74,000 home in Malone, Florida costs approximately $784 per month with 20% down at 7.24%. That is $403 principal and interest, $40 property tax, $45 homeowners insurance, $233 utilities and $62 set aside for maintenance.
What is the property tax rate in Malone?
Malone has an effective property tax rate of 0.654%, based on a median home value of $73,600 and median real estate taxes of $481. That is higher than the Jackson County average of 0.549%.
What is the average home price in Malone?
The median owner-occupied home value in Malone, Florida is $73,600, against $113,900 across Jackson County.
Is it cheaper to rent or buy in Malone?
Median gross rent in Malone is $738 a month, against $784 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 Malone?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Malone, Florida at today's rate takes a household income of roughly $33,500 a year. That covers the full $784 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Malone, 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.