Total monthly cost of ownership
Cost to Own a Home in On Top of the World, Florida
A $275,000 home here costs
$2,206per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,414. The real number is $792 higher every month — 56% 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.
On Top of the World against Marion County and Florida
| Measure | On Top of the World | Marion County |
|---|---|---|
| Median home value | $275,000 | $220,800 |
| Median property tax | $2,308 | $1,659 |
| Effective tax rate | 0.839% | 0.751% |
| Median gross rent | $1,162 | $1,174 |
| Population | 13,772 | 387,697 |
The weather behind that power bill
On Top of the World 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 $136 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
Common questions
How much does it cost to own a home in On Top of the World?
A $275,000 home in On Top of the World, Florida costs approximately $2,206 per month with 20% down at 6.66%. That is $1,414 principal and interest, $192 property tax, $166 homeowners insurance, $204 utilities and $229 set aside for maintenance.
What is the property tax rate in On Top of the World?
On Top of the World has an effective property tax rate of 0.839%, based on a median home value of $275,000 and median real estate taxes of $2,308. That is higher than the Marion County average of 0.751%.
What is the average home price in On Top of the World?
The median owner-occupied home value in On Top of the World, Florida is $275,000, against $220,800 across Marion County.
Is it cheaper to rent or buy in On Top of the World?
Median gross rent in On Top of the World is $1,162 a month, against $2,206 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 On Top of the World — 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.