Total monthly cost of ownership
Cost to Own a Home in Oakland Park, Florida
A $353,000 home here costs
$2,896per 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 $124,000 a year.
A standard mortgage calculator would have told you $1,925. The real number is $971 higher every month, 50% more than the payment most buyers budget for.
Compare Broward 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.
Oakland Park against Broward County and Florida
| Measure | Oakland Park | Broward County |
|---|---|---|
| Median home value | $352,600 | $380,400 |
| Median property tax | $2,760 | $3,610 |
| Effective tax rate | 0.783% | 0.949% |
| Median gross rent | $1,645 | $1,804 |
| Population | 44,015 | 1,946,127 |
The weather behind that power bill
Oakland Park sits in Broward County, which averages a high of 91.4°F in its hottest month and a low of 59.1°F in its coldest, with 56.5" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 4,476 cooling and 146 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Broward County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Broward County
Full Broward County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Oakland Park 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 Oakland Park every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oakland Park I already own here and may sell
Common questions
How much does it cost to own a home in Oakland Park?
A $353,000 home in Oakland Park, Florida costs approximately $2,896 per month with 20% down at 7.24%. That is $1,925 principal and interest, $230 property tax, $213 homeowners insurance, $233 utilities and $294 set aside for maintenance.
What is the property tax rate in Oakland Park?
Oakland Park has an effective property tax rate of 0.783%, based on a median home value of $352,600 and median real estate taxes of $2,760. That is lower than the Broward County average of 0.949%.
What is the average home price in Oakland Park?
The median owner-occupied home value in Oakland Park, Florida is $352,600, against $380,400 across Broward County.
Is it cheaper to rent or buy in Oakland Park?
Median gross rent in Oakland Park is $1,645 a month, against $2,896 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 Oakland Park?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oakland Park, Florida at today's rate takes a household income of roughly $124,000 a year. That covers the full $2,896 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oakland Park, 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.