Total monthly cost of ownership
Cost to Own a Home in Sarasota, Florida
A $410,000 home here costs
$3,338per 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 $143,000 a year.
A standard mortgage calculator would have told you $2,271. The real number is $1,067 higher every month, 47% more than the payment most buyers budget for.
Compare Sarasota 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.
Sarasota against Sarasota County and Florida
| Measure | Sarasota | Sarasota County |
|---|---|---|
| Median home value | $409,700 | $373,100 |
| Median property tax | $2,920 | $2,826 |
| Effective tax rate | 0.713% | 0.757% |
| Median gross rent | $1,514 | $1,715 |
| Population | 56,218 | 449,011 |
The weather behind that power bill
Sarasota sits in Sarasota County, which averages a high of 92.5°F in its hottest month and a low of 50.0°F in its coldest, with 61.07" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 3,581 cooling and 417 heating degree days, which is what sets the $166 electricity line above.
See the full climate breakdown for Sarasota County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sarasota County
Full Sarasota County cost breakdown · Every county in Florida
Talk to someone who works this market
These are Sarasota 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 Sarasota every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Sarasota I already own here and may sell
Common questions
How much does it cost to own a home in Sarasota?
A $410,000 home in Sarasota, Florida costs approximately $3,338 per month with 20% down at 7.4%. That is $2,271 principal and interest, $244 property tax, $248 homeowners insurance, $234 utilities and $342 set aside for maintenance.
What is the property tax rate in Sarasota?
Sarasota has an effective property tax rate of 0.713%, based on a median home value of $409,700 and median real estate taxes of $2,920. That is lower than the Sarasota County average of 0.757%.
What is the average home price in Sarasota?
The median owner-occupied home value in Sarasota, Florida is $409,700, against $373,100 across Sarasota County.
Is it cheaper to rent or buy in Sarasota?
Median gross rent in Sarasota is $1,514 a month, against $3,338 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 Sarasota?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Sarasota, Florida at today's rate takes a household income of roughly $143,000 a year. That covers the full $3,338 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Sarasota, 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.