Total monthly cost of ownership
Cost to Own a Home in Milton, Florida
A $196,000 home here costs
$1,603per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,008. The real number is $595 higher every month — 59% 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.
Milton against Santa Rosa County and Florida
| Measure | Milton | Santa Rosa County |
|---|---|---|
| Median home value | $195,600 | $302,100 |
| Median property tax | $1,305 | $1,809 |
| Effective tax rate | 0.667% | 0.599% |
| Median gross rent | $1,542 | $1,445 |
| Population | 10,485 | 193,719 |
The weather behind that power bill
Milton sits in Santa Rosa County, which averages a high of 92.7°F in its hottest month and a low of 41.9°F in its coldest, with 66.39" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,911 cooling and 1,347 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Santa Rosa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Santa Rosa County
Full Santa Rosa County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Milton?
A $196,000 home in Milton, Florida costs approximately $1,603 per month with 20% down at 6.66%. That is $1,008 principal and interest, $109 property tax, $118 homeowners insurance, $204 utilities and $163 set aside for maintenance.
What is the property tax rate in Milton?
Milton has an effective property tax rate of 0.667%, based on a median home value of $195,600 and median real estate taxes of $1,305. That is higher than the Santa Rosa County average of 0.599%.
What is the average home price in Milton?
The median owner-occupied home value in Milton, Florida is $195,600, against $302,100 across Santa Rosa County.
Is it cheaper to rent or buy in Milton?
Median gross rent in Milton is $1,542 a month, against $1,603 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 Milton — 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.