Total monthly cost of ownership
Cost to Own a Home in Pea Ridge, Florida
A $217,000 home here costs
$1,800per 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 $77,000 a year.
A standard mortgage calculator would have told you $1,183. The real number is $617 higher every month, 52% more than the payment most buyers budget for.
Compare Santa Rosa County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Pea Ridge from a five-year rolling sample, and with about 3,934 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Santa Rosa County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Pea Ridge against Santa Rosa County and Florida
| Measure | Pea Ridge | Santa Rosa County |
|---|---|---|
| Median home value | $217,200 | $302,100 |
| Median property tax | $862 | $1,809 |
| Effective tax rate | 0.397% | 0.599% |
| Median gross rent | $1,174 | $1,445 |
| Population | 3,934 | 193,719 |
The weather behind that power bill
Pea Ridge sits in Santa Rosa County, which averages a high of 92.7°F in its hottest month and a low of 41.9°F in its coldest, with 66.39" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,911 cooling and 1,347 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Santa Rosa County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Santa Rosa County
Full Santa Rosa County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Pea Ridge 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 Pea Ridge every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Pea Ridge I already own here and may sell
Common questions
How much does it cost to own a home in Pea Ridge?
A $217,000 home in Pea Ridge, Florida costs approximately $1,800 per month with 20% down at 7.24%. That is $1,183 principal and interest, $72 property tax, $131 homeowners insurance, $233 utilities and $181 set aside for maintenance.
What is the property tax rate in Pea Ridge?
Pea Ridge has an effective property tax rate of 0.397%, based on a median home value of $217,200 and median real estate taxes of $862. That is lower than the Santa Rosa County average of 0.599%.
What is the average home price in Pea Ridge?
The median owner-occupied home value in Pea Ridge, Florida is $217,200, against $302,100 across Santa Rosa County.
Is it cheaper to rent or buy in Pea Ridge?
Median gross rent in Pea Ridge is $1,174 a month, against $1,800 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 Pea Ridge?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Pea Ridge, Florida at today's rate takes a household income of roughly $77,000 a year. That covers the full $1,800 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Pea Ridge, 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.