Florida Reverse Mortgage - What You Need to Know
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Florida Reverse Mortgage - What You Need to Know
Reverse mortgages in Florida are not taxable, and generally do not affect your Social Security or Medicare benefits. You retain the title to your home, and you do not have to make monthly repayments. The loan must be repaid when the last surviving borrower dies, sells the home, or no longer lives in the home as a principal residence.
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Snapshot of Florida
18.5 M
Population$105,500
Median Home Value70%
Home Ownership Rate17%
Percent PopulationOver 65Find Your City to Compare State and National Averages
| Location | Population | Med. Home Value | Home Ownership Rate | % Population Over 65 |
|---|---|---|---|---|
| USA | 307,006,550 | $119,600 | 66% | 13% |
| Florida | 18,537,969 | $105,500 | 70% | 17% |
| Altamonte Springs | 40,613 | $112,200 | 42% | 11% |
| Apopka | 35,563 | $101,200 | 76% | 10% |
| Aventura | 30,027 | $225,900 | 72% | 35% |
| Boca Raton | 86,396 | $230,200 | 76% | 20% |
| Bonita Springs | 40,877 | $167,100 | 82% | 32% |
| Boynton Beach | 68,284 | $96,100 | 73% | 26% |
| Bradenton | 53,662 | $95,500 | 62% | 25% |
| Cape Coral | 151,389 | $110,800 | 80% | 20% |
| Clearwater | 107,742 | $100,500 | 62% | 22% |
| Coconut Creek | 50,120 | $141,800 | 76% | 27% |
| Cooper City | 29,945 | $154,200 | 92% | 7% |
| Coral Gables | 42,794 | $336,800 | 66% | 16% |
| Coral Springs | 129,805 | $175,500 | 65% | 6% |
| Davie | 85,583 | $151,900 | 77% | 9% |
| Daytona Beach | 64,183 | $79,700 | 47% | 20% |
| Deerfield Beach | 76,215 | $118,600 | 70% | 29% |
| Delray Beach | 64,630 | $127,700 | 70% | 26% |
| Deltona | 84,273 | $82,200 | 87% | 15% |
| Dunedin | 36,640 | $95,800 | 71% | 30% |
| Fort Lauderdale | 185,804 | $150,100 | 55% | 15% |
| Fort Myers | 60,531 | $76,700 | 40% | 14% |
| Fort Pierce | 39,365 | $62,800 | 53% | 18% |
| Gainesville | 108,655 | $86,300 | 48% | 10% |
| Greenacres | 32,395 | $85,500 | 71% | 24% |
| Hallandale Beach | 39,372 | $104,900 | 67% | 36% |
| Hialeah | 217,141 | $113,900 | 51% | 17% |
| Hollywood | 145,794 | $109,000 | 62% | 17% |
| Homestead | 53,767 | $88,200 | 36% | 8% |
| Jacksonville | 794,555 | $87,800 | 63% | 10% |
| Jupiter | 48,847 | $149,200 | 81% | 19% |
| Key West | 23,262 | $265,800 | 46% | 12% |
| Kissimmee | 60,894 | $93,900 | 45% | 8% |
| Lake Worth | 35,980 | $81,800 | 52% | 14% |
| Lakeland | 90,207 | $81,100 | 60% | 23% |
| Largo | 73,796 | $88,800 | 67% | 30% |
| Lauderdale Lakes | 31,911 | $94,900 | 62% | 18% |
| Lauderhill | 59,482 | $111,000 | 59% | 16% |
| Margate | 55,974 | $109,500 | 80% | 22% |
| Melbourne | 76,963 | $85,400 | 62% | 20% |
| Miami | 404,048 | $120,100 | 35% | 17% |
| Miami Beach | 86,916 | $334,400 | 37% | 19% |
| Miramar | 108,072 | $116,200 | 80% | 6% |
| North Lauderdale | 42,220 | $92,500 | 64% | 7% |
| North Miami | 57,670 | $91,400 | 51% | 9% |
| North Miami Beach | 39,030 | $93,000 | 62% | 11% |
| Oakland Park | 42,384 | $120,400 | 51% | 10% |
| Ocala | 52,488 | $77,600 | 57% | 20% |
| Orlando | 220,186 | $103,200 | 41% | 11% |
| Ormond Beach | 38,504 | $110,400 | 82% | 27% |
| Oviedo | 30,618 | $131,300 | 86% | 6% |
| Palm Bay | 97,748 | $78,300 | 75% | 15% |
| Palm Beach Gardens | 48,914 | $171,500 | 80% | 21% |
| Palm Coast | 68,013 | $112,500 | 86% | 30% |
| Panama City | 36,807 | $75,800 | 58% | 16% |
| Pembroke Pines | 150,064 | $143,200 | 80% | 15% |
| Pensacola | 53,248 | $93,400 | 63% | 17% |
| Pinellas Park | 47,354 | $75,500 | 75% | 21% |
| Plant City | 31,727 | $85,700 | 66% | 12% |
| Plantation | 85,938 | $158,000 | 72% | 13% |
| Pompano Beach | 104,402 | $135,700 | 63% | 23% |
| Port Orange | 54,851 | $96,500 | 82% | 24% |
| Riviera Beach | 35,846 | $80,500 | 59% | 15% |
| Sanford | 49,124 | $75,400 | 55% | 11% |
| Sarasota | 52,942 | $96,000 | 58% | 22% |
| Sunrise | 90,793 | $111,900 | 74% | 18% |
| Tallahassee | 159,012 | $102,500 | 44% | 8% |
| Tamarac | 60,644 | $95,200 | 80% | 38% |
| Tampa | 332,888 | $81,500 | 55% | 13% |
| Titusville | 44,027 | $75,700 | 68% | 21% |
| Wellington | 54,993 | $164,800 | 82% | 9% |
| West Palm Beach | 98,774 | $98,000 | 52% | 16% |
| Weston | 65,720 | $202,000 | 82% | 7% |
| Winter Haven | 30,978 | $73,800 | 59% | 27% |
| Winter Park | 28,083 | $203,700 | 65% | 23% |
| Winter Springs | 32,598 | $130,800 | 80% | 11% |
Source U.S. Census Bureau: State and County QuickFacts. Data derived from Population Estimates, Census of Population and Housing, Small Area Income and Poverty Estimates, State and County Housing Unit Estimates, County Business Patterns, Nonemployer Statistics, Economic Census, Survey of Business Owners, Building Permits, Consolidated Federal Funds Report
