You’re doing your research and recon for an upcoming move to Florida’s Space Coast. You’re looking at the commute to work, researching schools for the kids, and more than likely, you’ve already started the conversation with your lender about your down payment and the price range you want to stay within.
But what about everything else?
Homeowners insurance, property taxes, utilities, HOA fees, and all those other expenses that don’t necessarily show up when you’re scrolling through homes online.
Let’s discuss what it really costs to live on the Space Coast, beyond the price of the house.
Homeowners Insurance on Florida’s Space Coast
If you’ve done any research on moving to Florida, you’ve probably already heard that homeowners insurance can be expensive. And yes, compared to many other parts of the country, it can be.
But there really isn’t one number I can give you and say, “This is what insurance costs on a $500,000 house.”
The value of the home certainly plays a role, but there are other factors that can have a significant impact on the premium. Two homes with the exact same purchase price can have very different insurance costs.
Some of the factors that can affect homeowners insurance premiums include:
- The age of the home
- The age and type of roof
- Impact windows and hurricane shutters
- Wind mitigation features
- Concrete block versus frame construction
- The location of the property and proximity to the coast
As much as you would like to know exactly what insurance will cost before submitting an offer, with an existing home, we usually won’t have the complete picture until we have the four-point inspection and wind mitigation report.
Without those reports, you may receive a preliminary estimate with a pretty wide range. That’s why getting insurance quotes is something we tackle during the home inspection period.
I’ve seen annual homeowners insurance quotes that I would consider reasonable, around $2,800 per year, all the way up to the ridiculous, $8,000 per year.
That’s a pretty significant difference when you’re calculating your monthly housing expenses.
Do You Need Flood Insurance in Brevard County?
While we’re talking about insurance, there’s another question I get all the time from people moving to the Space Coast: What about flood insurance?
We’re surrounded by water, so does that mean you’re going to need flood insurance everywhere you live?
No.
A surprisingly large amount of Brevard County is considered Flood Zone X, where flood insurance typically is not required by a lender.
Whether your lender requires flood insurance generally depends on whether the property is located in a designated high-risk flood zone. But even when it isn’t required, that doesn’t necessarily mean you shouldn’t consider having it.
Standard homeowners insurance policies generally do not cover damage caused by flooding.
I’ve seen flood insurance in Flood Zone X for as little as $500 a year. I’ve seen policies in the $1,200 to $1,800 range. And I’ve also seen properties in higher-risk flood zones with quotes over $10,000 per year.
Like homeowners insurance, this is something you’ll want to investigate when considering a particular property.
Understanding Property Taxes in Brevard County
Now let’s move on to everybody’s favorite expense: property taxes.
When you’re looking at homes online, you can usually see what the current owner paid in property taxes last year.
But be careful with that number because it may have very little to do with what you will pay after purchasing the home.
If the current owner has lived there for 10, 15, or 20 years and has a homestead exemption, their assessed value may be substantially lower than the price you’re paying for the house.
When the property changes ownership, the assessed value is generally reassessed for the following tax year.
So if you buy a home for $500,000, you shouldn’t build your budget around the seller’s $2,500 property tax bill just because that’s what you saw online.
Estimating Your Future Property Taxes
Fortunately, the Brevard County Property Appraiser’s website has some great tools to help estimate what your property taxes will be.
You can pull up the property, enter the purchase price, and indicate whether you’ll be filing for a homestead exemption or porting over your current Save Our Homes tax savings from another Florida property.
It’s still an estimate, but it will give you a pretty good idea of what you should budget for property taxes the following year.
You can find the property appraiser’s website at bcpao.us.
CDD Fees: Another Expense That May Appear on Your Tax Bill
If you’re purchasing a newer home, particularly in some of our master-planned communities, there may also be a CDD assessment on the property tax bill.
CDD stands for Community Development District.
These districts can issue long-term bonds to help pay for infrastructure within the community, and property owners within the district pay assessments that help repay that debt.
A CDD assessment is a non-ad valorem assessment, meaning it’s separate from property taxes based on the value of the home.
I’ve seen CDD assessments locally ranging from a few hundred dollars to around $1,800 per year, depending on the community.
Some CDD assessments also include ongoing maintenance and operating expenses, so they may continue even after the original infrastructure bonds are repaid.
When estimating your property taxes, make sure you look at the entire tax bill and not just the ad valorem taxes.
HOA and Condominium Association Fees
Speaking of HOAs, we have them throughout Brevard County, along with condominium associations.
If you’re looking at a property in either one, that’s another expense you need to add to your budget.
Homeowners Association Fees
HOAs are common with single-family homes and townhomes throughout the Space Coast.
Depending on the community, HOA fees may be paid monthly, quarterly, semi-annually, or annually.
I’ve seen HOA fees on the low end around $35 per month, all the way up to $800 or more per month.
The amount depends on the community, amenities, and what the association covers.
For example, some associations may cover little more than maintaining common areas, while others may include landscaping, exterior maintenance, recreational facilities, or other services.
Condominium Association Fees
Condominium association fees are usually paid monthly.
I’ve seen those range from around $200 per month to well over $1,000 per month.
Again, it depends on the location, amenities, and, more importantly, what is actually included in the monthly fee.
Some condominium fees include building insurance, exterior maintenance, water, sewer, cable, internet, and recreational amenities.
It’s important to understand what you’re paying for rather than simply comparing the monthly fees between two properties.
Also, keep in mind that condominium associations may levy special assessments for major repairs or improvements.
Electricity Costs on Florida’s Space Coast
When it comes to electricity, Brevard County is served by Florida Power & Light, better known as FPL.
According to FPL’s published 2026 residential rate information, a typical residential customer using 1,000 kilowatt-hours of electricity per month would have a bill of approximately $136.64, before applicable local taxes and fees.
But please keep in mind that there are a lot of factors that will determine what your actual electric bill looks like.
How large is the house? How many people are living there? What temperature do you keep the AC set at? Do you have a pool? How energy efficient is the home?
And remember, this is Florida. Your air conditioner is going to get a workout for a good portion of the year.
Water and Sewer Expenses
Your water and sewer bill will depend on the municipality or utility provider serving the property, along with how many people are living in the household and how much water you use.
There’s also a chance the home you purchase may be on well water and septic, especially in some parts of Brevard County.
In that case, you may not have a monthly water and sewer bill, but you will have the maintenance costs associated with owning those systems.
Lawn Care and Pool Maintenance
Then there are some expenses that really depend on the house you purchase and how much of the work you want to do yourself.
Lawn Care
I always mowed my own lawn when we had a house, so technically this expense can be zero.
But keep in mind, this is Florida.
For about nine months out of the year, mowing the lawn can become a weekly wash, rinse, and repeat exercise.
If you’d rather let someone else enjoy that experience, figure somewhere around $100 to $250 per month for lawn service, depending on the size of the yard and how frequently they come out.
Pool Maintenance
If you’re purchasing a home with a swimming pool, there’s another expense to consider.
Based on what local pool companies are charging, figure somewhere around $130 to $200 per month for weekly pool service.
Screened pools are generally going to be toward the lower end, while unscreened pools can cost a little more because there’s more debris to deal with.
Of course, you can maintain the pool yourself, but chemicals and equipment aren’t free.
And eventually, pumps, filters, and other pool equipment will need repairs or replacement.
Don’t Forget Pest Control
Since Florida is known for its critters, having a pest control company take care of your property can help minimize the threat of ants, roaches, termites, and all the other bugs that seem to enjoy living here just as much as we do.
Depending on the type of service and how frequently they come out, this could be another expense to add to your household budget.
What About Groceries and Gas Prices?
I’m not going to get into gas prices or the cost of groceries because, quite frankly, there hasn’t been much rhyme or reason to either one over the last few years.
Those expenses are constantly changing and are going to depend heavily on your own lifestyle and spending habits.
For planning purposes, I would start with whatever you’re currently budgeting for those everyday expenses and adjust once you get here.
The Bottom Line: Budget Beyond the Purchase Price
I hope this helped with the budgeting process and your plans to move to Florida’s Space Coast.
The price of the home is obviously a big part of that decision, but as you can see, it’s not the only number you need to consider.
Insurance, property taxes, HOA or CDD fees, utilities, and even things like maintaining a pool or paying someone to mow the lawn can all affect what it really costs to live here.
And more importantly, those expenses can be very different from one property to another, even when the homes have a similar price.
If you’re planning a move to Cocoa Beach, Cape Canaveral, Merritt Island, Melbourne, Viera, Palm Bay, Titusville, or anywhere else in Brevard County and have questions about the area or the home-buying process, feel free to reach out.
I’ve been helping buyers and sellers throughout Florida’s Space Coast since 2003, and I’m always happy to answer questions. Simply complete the form below.
Eric Larkin is a Broker Associate with Real Broker, LLC. He lives, works, and plays in the Cocoa Beach area. If you have questions about moving or relocating to Cocoa Beach and the Space Coast, let me know! I get calls, texts, direct messages & comments on my posts every day about the real estate market and things that are happening in Cocoa Beach and the Space Coast that I love answering. Ask me your questions on moving, relocating here, or anything about the community. I am here to help. I have been helping buyers and sellers with their real estate needs since becoming a real estate agent in 2003. My focus is always on helping, answering your questions, and doing everything possible to make certain you have a smooth transaction from beginning to end.
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