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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Palatka, FL Housing Affordability Index

Palatka, Florida has an MBR Housing Affordability Index score of 95.0 (Near National Average) as of October 30, 2026, ranking 289th most affordable of 479 scored Florida cities, compared with 92.5 statewide and 97.4 nationally. On a median-priced $150,500 home with 20% down, the Florida average 30-year fixed rate of 7.14% means a monthly principal and interest payment of about $812, or 30% of the city’s $32,021 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Palatka is updated every night from live Florida mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Palatka MBR-HAI 95.0 Near National Average
Rank in Florida 289 of 479 1 = most affordable
Florida 92.5 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.14% Florida lenders
Median home value $150,500 U.S. Census Bureau

Palatka is 2.5 points above the Florida score. Scores as of October 30, 2026. See the Florida index

View Palatka Mortgage Rates

See What You Can Afford in Palatka, Florida

Use this Palatka, Florida home affordability calculator to see how much house you can afford at today’s Florida average 30-year mortgage rate of 7.14%. A household earning the Palatka median income of $32,021, with no other debts and $30,000 down, can afford a home of about $116,432, compared with a median home value of $150,500. Buying the median priced home with 20% down takes a household income of about $43,900 once property tax and insurance are counted.

Palatka median (Census)
Car, student loan, card minimums
Under 20% adds PMI
Florida average, 30-year fixed
Palatka median bill (Census)
Estimate; use your quote
You can afford a home up to
$116,432
Below the Palatka median home value of $150,500
Loan amount$86,432
Principal & interest$583/mo
Property tax$115/mo
Home insurance$49/mo
PMI$0/mo
Total monthly payment$747/mo
Compare Palatka Mortgage Rates

How much house can you afford in Palatka?

Most lenders use two limits. Your housing payment, including principal, interest, property tax, homeowners insurance and any PMI, should stay under about 28% of your gross monthly income, and all of your monthly debt payments together should stay under about 36%. The calculator takes whichever limit is lower, then works backward from that payment to the most expensive home it covers at the current rate.

In Palatka, property taxes run about 1.19% of a home’s value each year, based on the Census median tax bill, which counts against the same monthly budget as the mortgage. Each quarter point move in mortgage rates changes the price you can afford by roughly $1,761 for a median income household. A larger down payment, paying down other debts, or a lower rate from a local lender all raise your budget.

What It Takes to Buy in Palatka

$812/mo
Principal & Interest
Median home, 20% down, 7.14%
$34,800
Income Needed
To keep principal and interest at 28% of income
$32,021
Median Household Income
Florida: $74,568
4.7x
Price-to-Income Ratio
Florida: 4.8x
$817/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$1,798/yr
Median Property Tax
1.19% of median value
45.9%
Owner Cost Burden
Owners spending 30%+ of income on housing
59.6%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Palatka, Florida. The rate is the Florida average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Palatka Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Palatka, Florida score: 95.0 (Near National Average), ranked 289 of 479 Florida cities. monitorbankrates.com/housing-affordability-index/florida/palatka”