Orlando Housing Costs
Rent X Buy
Your monthly cost will depend, of course, on your choice: whether to rent or buy. And, of course, it will also depend on the area you choose to live in, as well as the size and style of the house. But to give you a general idea, let’s imagine three situations:
This region south of downtown Orlando is where Disney is located. It is a region of relatively low housing costs, and it is also where many vacation condos are located, where investors buy houses to rent for short-term tourists. A rental in Kissimmee of a townhouse, or semi-detached house with 3 bedrooms, costs around $ 1,000- $ 1,100 / month. As for an individual house also with 3 to 4 bedrooms, it can vary between $ 1,000 to $ 1,300, depending on the square footage and location.
Shopping in Sanford
Sanford is just north of downtown Orlando. It is a region outside the tourist circuit of the city, very calm, and a great option for those looking for a place to raise a family. A 3 bedroom home can range from $ 150,000 to up to $ 1,000,000 in the region. To give you a real idea, the monthly installments for a cheaper home after entering 30% of the total amount ($ 45,000) would be around $ 600 / month. In a four-bedroom, 3-bathroom house, at around $ 290,000, the monthly installments would cost around $ 1100 / month.
Windermere is west of downtown Orlando. It is the city of the new rich, where you will find many mansions, and where renowned artists own properties. In this small town, in a three-bedroom house or apartment, prices range from $ 1,500 to up to $ 3,000 a month.
The state of Florida does not charge property taxes, however, counties do, and each determines its own values. In general, an appraisor will determine the value of your home, and you will pay fees over a percentage of that value (never over 100% of the market value, as they consider the wear and tear of the home with use).
Each county determines the so-called millage rate, or “mill rate”. That number, multiplied by $ 1 for every $ 1,000 dollars worth of your home, will be your tax amount. For example, if your region’s mill rate is “17.50”, then you will pay $ 17.50 for every $ 1,000 of your home’s estimated value. In Orange County, which encompasses much of Orlando, the fee amounts vary between 14 to 20.
Monthly Housing Accounts
In the United States, your monthly water and energy bills will vary greatly depending on the seasons. In Florida, due to the high humidity of the summer, it is impossible to be without air conditioning in the house all day, so the electricity bill naturally increases during this time. Overall, for a 1000 m² three-bedroom house, you pay around $ 150 / month for water and energy together for most of the year, and have an increase of $ 50 to $ 100 in the summer depending on the size of the house and consumption.