Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Miami mortgage calculator
A median-priced Miami, FL home at 6.75% over 30 years, with Florida property tax of 0.79% and $5,500 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$4,707 a month, all in
Principal and interest are $3,590; escrow and PMI add the rest. Over the full term the loan costs $738,897 in interest. Discounted at 5%, buying here has a net present value of $109,747 ($514,805 in today’s dollars).
Within Florida, Miami is 2nd of the 8 Florida markets covered here, between Naples at the top and Jacksonville at the bottom of a 2.47x spread. A state-level median hides most of that.
Miami carries a premium over the rest of Florida: a median home here runs $615,000, about 50% above the state median of $410,000. The deposit moves with it, so the same 20% down is $123,000 rather than $82,000.
Prices here have run ahead of rents: the local price index sits at 1.50 against a rent index of 1.35. A market where buying costs rise faster than renting does is one where the rent-vs-buy answer leans later — you need a longer hold before ownership wins.
Monthly cost in Miami vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $615,000 |
|---|---|
| Down payment (10%) | $61,500 |
| Loan amount | $553,500 |
| Principal & interest | $3,590/mo |
| Property tax (0.79%) | $405/mo |
| Homeowners insurance | $458/mo |
| PMI while above 80% LTV | $254/mo |
| Total monthly payment | $4,707/mo |
| Comparable rent | $2,970/mo |
What a rate move does to the Miami payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $3,143/mo |
| 6% | $3,319/mo |
| 6.5% | $3,498/mo |
| 7% | $3,682/mo |
| 7.5% | $3,870/mo |
| 8% | $4,061/mo |
Rent or buy in Miami?
Against $2,970 a month in rent, over 7 years renting leaves you about $95,900 better off — $80,678 once 2.5% inflation is stripped out. See the Florida rent-vs-buy page.
Where these numbers come from
Florida medians come from editorial and are refreshed weekly. The Miami figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.