Calculate using real Fort Lauderdale data. Median home price: $420,000. Property tax rate: 0.96%.
With the median household income of $58,275 in Fort Lauderdale, FL, following the 28% rule, you could afford a monthly payment of about $1,360.
The cost of living index in Fort Lauderdale, FL is 125 (national average = 100). A home at the median price of $420,000 would require roughly 7.2x the median income.
A conventional 20% down payment on the median Fort Lauderdale, FL home ($420,000) would be $84,000. FHA loans may require as little as 3.5% ($14,700).