Total monthly cost of ownership
Cost to Own a Home in Ocala, Florida
A $220,000 home here costs
$1,900per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $81,500 a year.
A standard mortgage calculator would have told you $1,219. The real number is $682 higher every month, 56% more than the payment most buyers budget for.
Compare Marion 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.
Ocala against Marion County and Florida
| Measure | Ocala | Marion County |
|---|---|---|
| Median home value | $219,900 | $220,800 |
| Median property tax | $1,576 | $1,659 |
| Effective tax rate | 0.717% | 0.751% |
| Median gross rent | $1,230 | $1,174 |
| Population | 64,903 | 387,697 |
The weather behind that power bill
Ocala sits in Marion County, which averages a high of 92.0°F in its hottest month and a low of 45.6°F in its coldest, with 51.64" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 3,104 cooling and 791 heating degree days, which is what sets the $166 electricity line above.
See the full climate breakdown for Marion County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marion County
Talk to someone who works this market
These are Ocala 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 Ocala every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Ocala?
A $220,000 home in Ocala, Florida costs approximately $1,900 per month with 20% down at 7.4%. That is $1,219 principal and interest, $131 property tax, $133 homeowners insurance, $234 utilities and $183 set aside for maintenance.
What is the property tax rate in Ocala?
Ocala has an effective property tax rate of 0.717%, based on a median home value of $219,900 and median real estate taxes of $1,576. That is lower than the Marion County average of 0.751%.
What is the average home price in Ocala?
The median owner-occupied home value in Ocala, Florida is $219,900, against $220,800 across Marion County.
Is it cheaper to rent or buy in Ocala?
Median gross rent in Ocala is $1,230 a month, against $1,900 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 Ocala?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ocala, Florida at today's rate takes a household income of roughly $81,500 a year. That covers the full $1,900 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ocala, 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.