Ocala home prices under $200,000 look tantalizingly affordable. But new homeowners are often surprised once property taxes, insurance, maintenance andutilities are added to the monthly budget. By estimating total costs accurately, buyers can ensure their Ocala home fits both purchase price and ongoing budget.

utility bill

Mortgage Payment

On a $180,000 home with 5% down, expect around $875 monthly for principal and interest. This is based on a 30-year fixed mortgage at 5.5% interest, plus taxes and insurance rolled into escrow. With only 5% down, you’ll also pay $100 - $200 monthly in private mortgage insurance.

Property Taxes

Property taxes average around $3,000 annually in Ocala, though new construction homes get assessed higher. That’s $250 monthly. Verify taxes on any home using the Marion County Property Appraiser site.

Home Insurance

Typical homeowners insurance runs $100 - $150 monthly, though many factors impact rates like age of home, type of construction and claims history. Shop multiple insurers to find the best deal.

HOA Fees

In a condo, townhome or community with amenities, HOA fees ranging from $100 - $300 monthly go towards upkeep of common areas. Carefully review what’s covered to avoid surprise special assessments.

Maintenance and Repairs

Even newer homes require regular maintenance like paint, roof repairs and replacing AC units, appliances, etc over time. Budget 1-3% of the home’s value annually for this upkeep. That’s $150 - $450 monthly for a $180,000 home.


Expect around $200 monthly for electric, water, sewer and trash pickup. Internet packages start around $50 monthly, while cable/satellite TV service can run $100 or more.

No doubt about it, owning a home under $200,000 in Ocala provides outstanding value. But carefully project all the costs involved to ensure your total monthly housing budget won’t be squeezed too tight. An accurate cost estimate ensures your Ocala home supports your long-term financial goals.

Need help from an expert? Contact Buckner Homes Realty today!