Total monthly cost of ownership
Cost to Own a Home in Mayo, Florida
A $116,000 home here costs
$1,046per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $596. The real number is $450 higher every month — 75% 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.
Mayo against Lafayette County and Florida
| Measure | Mayo | Lafayette County |
|---|---|---|
| Median home value | $116,100 | $131,600 |
| Median property tax | $941 | $850 |
| Effective tax rate | 0.811% | 0.646% |
| Median gross rent | — | $880 |
| Population | 1,172 | 8,035 |
The weather behind that power bill
Mayo sits in Lafayette County, which averages a high of 91.8°F in its hottest month and a low of 41.3°F in its coldest, with 55.58" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 2,749 cooling and 1,195 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Lafayette County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lafayette County
No other places of this size are published in Lafayette County.
Full Lafayette County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Mayo?
A $116,000 home in Mayo, Florida costs approximately $1,046 per month with 20% down at 6.66%. That is $596 principal and interest, $78 property tax, $70 homeowners insurance, $204 utilities and $97 set aside for maintenance.
What is the property tax rate in Mayo?
Mayo has an effective property tax rate of 0.811%, based on a median home value of $116,100 and median real estate taxes of $941. That is higher than the Lafayette County average of 0.646%.
What is the average home price in Mayo?
The median owner-occupied home value in Mayo, Florida is $116,100, against $131,600 across Lafayette County.
Is it cheaper to rent or buy in Mayo?
Rent data is not published for Mayo at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Mayo — 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.