Total monthly cost of ownership
Cost to Own a Home in Siesta Key, Florida
A $954,000 home here costs
$7,356per 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 $315,500 a year.
A standard mortgage calculator would have told you $5,201. The real number is $2,155 higher every month, 41% 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.
Siesta Key against Sarasota County and Florida
| Measure | Siesta Key | Sarasota County |
|---|---|---|
| Median home value | $954,300 | $373,100 |
| Median property tax | $6,603 | $2,826 |
| Effective tax rate | 0.692% | 0.757% |
| Median gross rent | $2,761 | $1,715 |
| Population | 5,690 | 449,011 |
The weather behind that power bill
Siesta Key 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 $165 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 Siesta Key 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 Siesta Key every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Siesta Key I already own here and may sell
Common questions
How much does it cost to own a home in Siesta Key?
A $954,000 home in Siesta Key, Florida costs approximately $7,356 per month with 20% down at 7.24%. That is $5,201 principal and interest, $550 property tax, $576 homeowners insurance, $233 utilities and $795 set aside for maintenance.
What is the property tax rate in Siesta Key?
Siesta Key has an effective property tax rate of 0.692%, based on a median home value of $954,300 and median real estate taxes of $6,603. That is lower than the Sarasota County average of 0.757%.
What is the average home price in Siesta Key?
The median owner-occupied home value in Siesta Key, Florida is $954,300, against $373,100 across Sarasota County.
Is it cheaper to rent or buy in Siesta Key?
Median gross rent in Siesta Key is $2,761 a month, against $7,356 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 Siesta Key?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Siesta Key, Florida at today's rate takes a household income of roughly $315,500 a year. That covers the full $7,356 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Siesta Key, 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.