Florida (FL) · No state income tax · Property tax: 0.89% · Median home (ZHVI): $395,000
As of · Sources: Zillow ZHVI, Tax Foundation, Census ACS, Freddie Mac PMMS
Your savings rate — the percentage of gross income you save — is the most important factor in building wealth. In Florida, with no state income tax, more of your gross income reaches your bank account, making it easier to hit a 20%+ savings rate target. The cost of living index of 103.6 determines your expense floor — moderate living costs give you more room to save aggressively. Target at least 20% for financial independence, adjusting for Florida's specific cost profile.
Median income + cost-of-living scale the savings rate for the savings rate calculator in Florida. Every row cites a primary public dataset. Numbers reflect the most recent vintage available; refresh cadence is documented in the methodology.
The Savings Rate Calculator runs a well-known formula (principal × rate, discounted cash flow, amortization, or equivalent) client-side and layers on Florida's tax and cost-of-living inputs. State-specific numbers — brackets, exemptions, and averages — come from public federal / state datasets cited in the sources section.
Same formula, different inputs. Each city name links to its own pSEO page where the calculator is pre-filled with local medians.
| City | Median home | Median rent | HUD FMR 2BR | Median income |
|---|---|---|---|---|
| Miami, FL | $472,937 | $2,665/mo | $2,450/mo | $73,481 |
| Tampa, FL | $357,965 | $1,988/mo | $1,825/mo | $71,254 |
| Orlando, FL | $385,991 | $1,937/mo | $1,775/mo | $75,611 |
| Jacksonville, FL | $348,912 | $1,679/mo | $1,550/mo | $77,013 |
| Cape Coral, FL | $339,952 | $1,859/mo | $1,700/mo | $73,099 |
Sources: Zillow ZHVI + ZORI[1], HUD FMR[2], Census ACS[3], Freddie Mac PMMS[4].
Moving one state over changes the savings rate numbers. Compare median home value (Zillow ZHVI), top marginal income tax rate, effective property tax rate, and the BEA all-items Regional Price Parity across Florida and its border states.
| State | Median home | Top inc tax | Prop tax rate | RPP (US=100) |
|---|---|---|---|---|
| Florida (this page) | $395,000 | None | 0.89% | 103.6 |
| compare to Alabama | $223,000 | 5.00% | 0.41% | 89.1 |
| Georgia side-by-side | $325,000 | 5.39% | 0.92% | 96.5 |
Sources: Zillow ZHVI[1], state Departments of Revenue / Tax Foundation[2], Tax Foundation property taxes[3], BEA Regional Price Parities[4].
These calculators share inputs with the savings rate formula, so pair them to pressure-test your answer from multiple angles.
| Metric | Florida | National Avg | AL | GA |
|---|---|---|---|---|
| Median Home Price | $395,000 | $420,000 | $295,000 | $395,000 |
| Property Tax Rate | 0.89% | 1.07% | 0.41% | 0.92% |
| State Income Tax | None | 4.6%* | 5% | 5.75% |
| Avg Insurance Cost | $7,136/yr | $1,544/yr | $1,320/yr | $1,440/yr |
| Cost of Living Index | 103.6 | 100 | 88 | 97 |
| Household Income — p25 | $38,096 | $41,401 | $28,776 | $40,000 |
| Household Income — p50 (median) | $75,200 | $83,592 | $65,382 | $80,215 |
| Household Income — p75 | $134,700 | $153,000 | $127,601 | $149,001 |
*Average of states that levy an income tax. 2026 estimates. Florida's homestead exemption + Save Our Homes cap can save homeowners thousands annually in property taxes.[3] Income percentiles from DQYDJ/Census CPS 2024[4].
Track take-home pay: no state income tax means only federal + FICA apply — one of the simpler payroll pictures in the U.S. in Florida.
Anchor savings goals to the Florida cost of living index (103.6). A national 20% savings rate needs adjustment up or down depending on local expense floors.
Use tax-advantaged accounts first: 401(k), HSA, IRA. Since Florida has no income tax, Roth accounts may be especially attractive — you lock in today's zero-state-tax cost forever.
Every number on this page reads from the same CalcFi data repository used by the Live Data pages below — the figures stay consistent.
Home Prices by State
Zillow ZHVI across all 50 states
Property Tax by State
Effective rate × ZHVI = annual bill
Household Income by State
FRED real median + percentile bands
Cost of Living by State
BEA RPP all-items + housing
No-Income-Tax States
Full list + trade-offs
Current Interest Rates
Treasury curve + PMMS + FDIC
CalcFi pSEO pages combine three inputs: (1) the calculator formula itself, which runs client-side so no inputs leave your browser; (2) state-level financial constants from primary public datasets; and (3) national benchmarks for comparison. The Florida page uses the property tax rate (0.89%), median home price ($395,000), and no state income tax from the sources listed below.
Refresh cadence:state tax brackets and minimum wage rates are reviewed annually after each state's legislative session. Property tax, median home price, insurance, and cost-of-living figures are reviewed annually against the primary sources. Income percentiles are refreshed when the Census CPS/IPUMS releases update (typically September). Page-level dateModified matches the last editorial review date, shown above.
Known limits: statewide averages mask large intra-state variance — county-level property tax and metro-level home prices differ significantly from the figures shown. For the most precise calculations, cross-check the output against your actual county assessor and the latest federal/state tax tables at filing time.
Use Savings Rate Calculator for any city in Florida.
Every number on this page cites a primary public dataset. Last reviewed (auto-bumped by the next ISR refresh after an ETL run).
CalcFi does not sell data. If you spot an error, email hello@calcfi.app with the URL and the correct figure.