Calculate using real Orlando data. Median home price: $350,000. Property tax rate: 0.86%.
With the median household income of $55,210 in Orlando, FL, following the 28% rule, you could afford a monthly payment of about $1,288.
The cost of living index in Orlando, FL is 102 (national average = 100). A home at the median price of $350,000 would require roughly 6.3x the median income.
A conventional 20% down payment on the median Orlando, FL home ($350,000) would be $70,000. FHA loans may require as little as 3.5% ($12,250).