Total monthly cost of ownership
Cost to Own a Home in Okeechobee, Florida
A $187,000 home here costs
$1,642per 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 $70,500 a year.
A standard mortgage calculator would have told you $1,020. The real number is $622 higher every month, 61% more than the payment most buyers budget for.
Compare Okeechobee 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.
Okeechobee against Okeechobee County and Florida
| Measure | Okeechobee | Okeechobee County |
|---|---|---|
| Median home value | $187,400 | $179,000 |
| Median property tax | $1,439 | $1,349 |
| Effective tax rate | 0.768% | 0.754% |
| Median gross rent | $1,008 | $974 |
| Population | 5,376 | 40,249 |
The weather behind that power bill
Okeechobee sits in Okeechobee County, which averages a high of 90.3°F in its hottest month and a low of 51.2°F in its coldest, with 51.17" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 3,391 cooling and 418 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Okeechobee County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Okeechobee County
Full Okeechobee County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Okeechobee 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 Okeechobee every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Okeechobee I already own here and may sell
Common questions
How much does it cost to own a home in Okeechobee?
A $187,000 home in Okeechobee, Florida costs approximately $1,642 per month with 20% down at 7.24%. That is $1,020 principal and interest, $120 property tax, $113 homeowners insurance, $233 utilities and $156 set aside for maintenance.
What is the property tax rate in Okeechobee?
Okeechobee has an effective property tax rate of 0.768%, based on a median home value of $187,400 and median real estate taxes of $1,439. That is higher than the Okeechobee County average of 0.754%.
What is the average home price in Okeechobee?
The median owner-occupied home value in Okeechobee, Florida is $187,400, against $179,000 across Okeechobee County.
Is it cheaper to rent or buy in Okeechobee?
Median gross rent in Okeechobee is $1,008 a month, against $1,642 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 Okeechobee?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Okeechobee, Florida at today's rate takes a household income of roughly $70,500 a year. That covers the full $1,642 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Okeechobee, 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.