| Metric | Miami, FL | Tampa, FL |
|---|---|---|
| Median Home Price | $680,000 | $420,000 |
| 20% Down Payment | $136,000 | $84,000 |
| Loan Amount | $544,000 | $336,000 |
| P&I (6.7%, 30yr) | $3,510/mo | $2,168/mo |
| Property Tax | 0.97%/yr | 0.89%/yr |
| Total PITI Est. | $4,342/mo | $2,654/mo |
| Income Needed (36% DTI) | $144,733/yr | $88,466/yr |
| 10-Year Total Cost | $521,040 | $318,480 |
Choosing Tampa, FL over the alternative saves $1,688/month — or $20,256/year in housing costs. Over 10 years, that's $202,560 in your pocket instead of your mortgage.
But monthly payment isn't everything. Consider: job market, salary levels, appreciation potential, cost of living beyond housing, and lifestyle fit. A cheaper mortgage in a lower-income city may not actually save money if your salary drops too.
Ask Zai with your income and down payment — get a personalized city recommendation.
🏦 Ask Zai Free → 🔔 Set Affordability Alert 🎲 Geographic LotteryNot financial advice. Data estimated from public sources. Rates at 6.7%, 20% down, 30-year fixed. Actual costs vary.
🔍 Also explore: All FRC Research Tools · Zai — File Analysis · FHA State Map · Lender Stress Index
Prices and rates are widely reported. Whether a lender says yes is not. In the complete 2025 federal record, denial rates across the 100 largest FHA lenders ran from 1.8% to 78.7% — same programme, same year.
And it is not simply who applies where: standardizing on state, loan amount, income, debt-to-income and loan-to-value, applicant mix explains only a 2.7× range in expected outcomes.
CFPB HMDA 2025, computed by FinanceRateCalc. Covers the highest-volume lenders published per market, not all lenders. Historical observations, not predictions. CC BY 4.0, not independently reproduced.