Total monthly cost of ownership
Cost to Own a Home in Sugarmill Woods, Florida
A $289,000 home here costs
$2,400per 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 $103,000 a year.
A standard mortgage calculator would have told you $1,576. The real number is $824 higher every month, 52% more than the payment most buyers budget for.
Compare Citrus 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.
Sugarmill Woods against Citrus County and Florida
| Measure | Sugarmill Woods | Citrus County |
|---|---|---|
| Median home value | $289,100 | $223,200 |
| Median property tax | $2,106 | $1,320 |
| Effective tax rate | 0.728% | 0.591% |
| Median gross rent | $1,200 | $1,069 |
| Population | 10,871 | 158,693 |
The weather behind that power bill
Sugarmill Woods sits in Citrus County, which averages a high of 90.9°F in its hottest month and a low of 44.3°F in its coldest, with 51.94" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 2,965 cooling and 876 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Citrus County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Citrus County
Talk to someone who works this market
These are Sugarmill Woods 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 Sugarmill Woods every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Sugarmill Woods I already own here and may sell
Common questions
How much does it cost to own a home in Sugarmill Woods?
A $289,000 home in Sugarmill Woods, Florida costs approximately $2,400 per month with 20% down at 7.24%. That is $1,576 principal and interest, $175 property tax, $175 homeowners insurance, $233 utilities and $241 set aside for maintenance.
What is the property tax rate in Sugarmill Woods?
Sugarmill Woods has an effective property tax rate of 0.728%, based on a median home value of $289,100 and median real estate taxes of $2,106. That is higher than the Citrus County average of 0.591%.
What is the average home price in Sugarmill Woods?
The median owner-occupied home value in Sugarmill Woods, Florida is $289,100, against $223,200 across Citrus County.
Is it cheaper to rent or buy in Sugarmill Woods?
Median gross rent in Sugarmill Woods is $1,200 a month, against $2,400 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 Sugarmill Woods?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Sugarmill Woods, Florida at today's rate takes a household income of roughly $103,000 a year. That covers the full $2,400 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Sugarmill Woods, 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.