Total monthly cost of ownership
Cost to Own a Home in Midway (Seminole County), Florida
A $257,000 home here costs
$2,131per 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 $91,500 a year.
A standard mortgage calculator would have told you $1,401. The real number is $729 higher every month, 52% more than the payment most buyers budget for.
Compare Seminole County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Midway (Seminole County) from a five-year rolling sample, and with about 1,558 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 Seminole 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.
Midway (Seminole County) against Seminole County and Florida
| Measure | Midway (Seminole County) | Seminole County |
|---|---|---|
| Median home value | $257,300 | $357,300 |
| Median property tax | $1,521 | $2,493 |
| Effective tax rate | 0.591% | 0.698% |
| Median gross rent | $1,146 | $1,686 |
| Population | 1,558 | 474,912 |
The weather behind that power bill
Midway (Seminole County) sits in Seminole County, which averages a high of 92.7°F in its hottest month and a low of 49.6°F in its coldest, with 49.63" of precipitation a year and 45% of it in a single three-month stretch. That climate drives 3,554 cooling and 557 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Seminole County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Seminole County
Full Seminole County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Midway (Seminole County) 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 Midway (Seminole County) every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Midway (Seminole County) I already own here and may sell
Common questions
How much does it cost to own a home in Midway (Seminole County)?
A $257,000 home in Midway (Seminole County), Florida costs approximately $2,131 per month with 20% down at 7.24%. That is $1,401 principal and interest, $127 property tax, $155 homeowners insurance, $233 utilities and $214 set aside for maintenance.
What is the property tax rate in Midway (Seminole County)?
Midway (Seminole County) has an effective property tax rate of 0.591%, based on a median home value of $257,300 and median real estate taxes of $1,521. That is lower than the Seminole County average of 0.698%.
What is the average home price in Midway (Seminole County)?
The median owner-occupied home value in Midway (Seminole County), Florida is $257,300, against $357,300 across Seminole County.
Is it cheaper to rent or buy in Midway (Seminole County)?
Median gross rent in Midway (Seminole County) is $1,146 a month, against $2,131 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 Midway (Seminole County)?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Midway (Seminole County), Florida at today's rate takes a household income of roughly $91,500 a year. That covers the full $2,131 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Midway (Seminole County), 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.