Although Florida is not as expensive as states like Hawaii or California, it still ranks in the top half (No. 18) nationally for the highest cost of living, according to the World Population Review.
Florida’s higher-than-average cost of living extends to its home prices. Federal Reserve data found that homes there had a median list price of $425,000 in December 2025 — above the national average of $399,950.
What this means is that if you live in the Sunshine State and earn a modest salary, you’ll have a harder time making ends meet than most Americans. Nationwide, the median income is $1,214 per week or $63,128 a year, according to the U.S. Bureau of Labor Statistics. Floridians earning $60,000 a year are just shy of the national average.
So how much house can they really buy in Florida with that kind of salary? We asked ChatGPT, and here’s what it had to say.
To qualify for a mortgage loan, most lenders use guidelines such as the 28% rule, which means your monthly housing costs should not exceed 28% of your gross monthly income. These costs include your mortgage payment, property taxes, insurance, home owner association (HOA) fees and private mortgage insurance (PMI) if applicable.
Here’s what the rule might look like if you earn $60,000 a year:
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Gross monthly income: $5,000
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28% of $5,000: About $1,400 per month. That’s how much you should aim for housing payments, including principal, interest, taxes and insurance
Find out: Home costs in Florida’s 6 best counties for snowbird retirees
Read next: 6 Things You Should Do When Your Savings Reach $50,000
Here’s a breakdown of what you can afford in Florida based on state-specific costs as well as current mortgage rates (which range from about 6.1% to 6.3% for a 30-year fixed mortgage):
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Affordable Purchase Range: If you earn $60,000 per year, you can afford a home between $220,000 and $260,000. But a lot depends on factors like your credit score and down payment.
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Other factors to consider: If you get an FHA loan with a low down payment and high loan-to-income ratio, you can buy a home at the higher end of the range.
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reality check: If you’re aiming to buy a home that costs $250,000, that essentially means you’ll be paying about 40% below Florida’s average listing price. To get the best bang for your buck, you need to look at some of the more affordable Florida cities.
ChatGPT’s estimate for what you can buy in Florida with a $60,000 salary is slightly higher than the estimates provided by other sources.
