Calculate using real Cape Coral data. Median home price: $360,000. Property tax rate: 0.85%.
With the median household income of $62,428 in Cape Coral, FL, following the 28% rule, you could afford a monthly payment of about $1,457.
The cost of living index in Cape Coral, FL is 100 (national average = 100). A home at the median price of $360,000 would require roughly 5.8x the median income.
A conventional 20% down payment on the median Cape Coral, FL home ($360,000) would be $72,000. FHA loans may require as little as 3.5% ($12,600).