Interactive Tool · Selling · South Florida
South Florida Holding Cost Calculator
Chasing an extra $10,000 in list price can cost you $25,000 in carrying costs. Every month a South Florida home sits on the market, you pay property tax, hurricane + wind insurance, HOA, utilities, lawn and pool upkeep, and (if you have a mortgage) thousands in interest. Drop in your address or price below and see the real number — most sellers are shocked.
What your home costs to hold
$19,268
over 120 days on market · $4,817 every month · $161 every day
$
120 days (4 mo)
Fast sale (30d)Typical SF (90–150d)Long hold (1 yr)
Properly priced South Florida homes usually sell in 40–90 days. Overpriced listings routinely stretch to 6–12 months.
$/ mo
0 if none
$
0 if paid off
% / yr
Where the money goes
over 120 days| Line item | Per month | Total |
|---|---|---|
| Property taxes | $623 | $2,492 |
| Homeowner + wind insurance | $921 | $3,683 |
| Utilities (vacant minimum) | $220 | $880 |
| Lawn + pool + upkeep | $280 | $1,120 |
| Pest control + misc | $65 | $260 |
| Opportunity cost on equity | $2,708 | $10,833 |
| Total holding cost | $4,817 | $19,268 |
How each South Florida carrying cost works
Property taxes (≈1.1% of value / year)+
Broward County effective rates hover around 1.15%, Miami-Dade around 1.02%, and Palm Beach around 1.1%. Without homestead exemption (which you do not get on a second home or a home you are selling and moving out of), you pay on the full assessed value. On a $600K home that is roughly $6,600 per year or $550 per month.
Homeowner + wind insurance (≈1.5% of value / year)+
South Florida homeowners insurance is among the highest in the country due to hurricane risk. A 1.5% rate on value is a reasonable baseline; newer homes with solid roofs come in lower, older homes or those near the coast run significantly higher. Many carriers will not write policies on homes with roofs over 15 years old under Florida's HB 815.
Flood insurance (~$1,800 / year, often required)+
NFIP or private flood insurance is required on homes in FEMA flood zones AE, VE, or A. Pricing under NFIP's Risk Rating 2.0 varies widely by elevation and distance to water. Parts of Coral Springs, Parkland, and Weston have homes in AE zones that require flood coverage even if the mortgage is paid off. Toggle this on in the calculator if your home requires it.
HOA / condo fees (highly variable)+
Most South Florida neighborhoods have an HOA — ranging from $30/month for a basic master association to $1,500/month for gated country clubs and waterfront condos. Enter your actual monthly dues. Note: recent Florida SB 4-D changes (post-Surfside) have pushed condo association reserves higher, and many buildings have added special assessments.
Mortgage interest (if you still have a loan)+
Only the interest portion is a true holding cost — principal paydown is equity you keep. At a 7% rate on a $400K balance, monthly interest alone is ~$2,330 and climbs for higher balances. If you are free-and-clear, skip this row.
Utilities on a vacant home (~$180 / month)+
Even an empty house needs electricity running to keep the AC cycling (critical in South Florida humidity to prevent mold), water service, and basic irrigation. Homeowners often assume vacant = zero utility bill. It is not.
Lawn + pool + upkeep (~$220 / month)+
South Florida climate does not take a winter break. Lawns grow year-round, pools need weekly chemicals and skimming, and pest control runs on a monthly schedule. Letting any of these lapse while listed is visible to every buyer who walks through and actively pushes offers down.
Opportunity cost of equity (default 5% / year)+
The biggest hidden cost. Your equity parked in an unsold home is not earning anything. A $500K equity position at 5% opportunity cost = $2,080/month you are not earning. Toggle off in the calculator if you only want hard out-of-pocket costs.
Want real numbers for your street?
Tell Beth or Griff your address and target list price. They'll pull real comps, your actual tax roll, and real insurance quotes within 24 hours — no drip campaign, no pressure.
Frequently asked questions
How accurate is the RentCast home value estimate?+
RentCast uses an automated valuation model (AVM) trained on recent sales, public records, and listings data. For typical single-family homes in a mature South Florida subdivision, the estimate is usually within 3–7% of a real CMA. For unique properties (waterfront, custom builds, heavy renovations, or very old homes), the margin is wider. Treat the number as a reasonable starting point, not an appraisal. Beth and Griff can pull real comps for a more accurate number.
What is "opportunity cost of equity" and why is it included?+
Opportunity cost is the return you would earn on your equity if it were not tied up in an unsold home. If you own a $600,000 home free-and-clear, that $600,000 could be in a high-yield savings account earning ~4.5% or a diversified index fund averaging ~7% over time. While the home sits on the market, you are giving up ~$2,250–$3,500 per month in potential earnings. It is a real cost even though no cash leaves your account. You can toggle it off in the assumptions panel if you prefer to see only hard out-of-pocket costs.
Why does the calculator assume a 40-day baseline time on market?+
Forty days is a reasonable South Florida baseline for a properly priced, properly prepped single-family home in normal market conditions. Coral Springs, Parkland, Weston, and Davie historically see median days-on-market in the 30–50 day range when pricing is accurate. Condos, luxury homes, and niche properties can be longer. If your local sub-market or property type is different, Beth or Griff will give you a more tailored number.
How does the over-market slider calculate extra days on market?+
The formula is: extraDays = overPct × 12 + overPct² × 2, where overPct is how far above market you are listing (in percent). So +1% over market adds ~14 days, +3% adds ~54 days, +5% adds ~110 days, +10% adds ~320 days. The curve is non-linear because buyers and buyer agents filter by price brackets — once your price jumps you out of the bracket buyers are searching, showings stop and the listing stagnates. These numbers are a rule-of-thumb heuristic, not a guarantee.
Why are South Florida carrying costs so high compared to other states?+
Three reasons dominate: (1) Florida homeowners insurance is among the highest in the US because of hurricane and wind risk — 1.5% of home value per year is a common baseline and coastal properties run higher. (2) Flood insurance through NFIP or private carriers is often required in South Florida and can add $1,500–$3,500+ per year. (3) Year-round tropical climate requires ongoing lawn, pool, and pest maintenance even while the house is vacant. Combined with property taxes around 1.1% of value and HOA fees common in most neighborhoods, the monthly cost adds up fast.
Should I price lower to sell faster, or hold out for a higher price?+
The calculator above is the answer — it depends on your specific carrying cost per day and how far above market you are pricing. If your monthly carrying cost is $5,000 and you are pricing 3% over market (extending time on market by ~54 days), you are spending roughly $9,000 in holding cost to chase that extra margin. If the extra asking price is $15,000 you net $6,000; if it is $5,000 you lose $4,000. Run your actual numbers, then decide. Beth and Griff typically recommend pricing at or just below market for a fast, clean sale — especially if you are buying your next home and need the cash.
Does this include closing costs, commissions, or staging?+
No — those are one-time costs at close, not holding costs. Typical South Florida seller closing costs are roughly 6–8% of sale price (3% buyer-side commission, 2.5–3% listing commission, plus doc stamps, title, and transfer fees). Staging, professional photography, and pre-listing repairs are optional upfront investments. This calculator focuses only on the monthly cost of keeping the home while it sits unsold. We can walk you through the full seller-side closing math separately.
Can I email or print this breakdown?+
Yes. Use the "Email me this breakdown" button to have a clean copy sent to your inbox (optional, no commitment), or use the "Print / save PDF" button to print directly or save as a PDF from your browser. Nothing gets shared publicly and you will not be added to any drip campaign unless you explicitly contact us.
Ready to talk pricing strategy?
The calculator gives you a framework. Beth and Griff give you the actual numbers for your property, plus a pricing strategy that balances speed-to-sale with net proceeds. One short conversation, no pressure.