Total monthly cost of ownership
Cost to Own a Home in Okeechobee, Florida
A $187,000 home here costs
$1,554per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $961. The real number is $593 higher every month — 62% 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.
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 $136 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
Common questions
How much does it cost to own a home in Okeechobee?
A $187,000 home in Okeechobee, Florida costs approximately $1,554 per month with 20% down at 6.66%. That is $961 principal and interest, $120 property tax, $113 homeowners insurance, $204 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 $1,554 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 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.