Silver Springs Shores, FL Real Estate & Homes For Sale

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Silver Springs Shores Real Estate Market Facts

$75,200Median home price
55% lower than Florida
$894Median rent asked
13% lower than Florida
64.3%Home owners
1% lower than Florida
2.7People per home
4% higher than Florida

A general overview of the Silver Springs Shores, FL real estate market is displayed above. The median home price for homes in Silver Springs Shores, FL is $75,200, which is 55% lower than the Florida average. This means that real estate in the Silver Springs Shores, FL area is generally more affordable than the rest of Florida. The median rent price in Silver Springs Shores, FL is $894 which is 13% lower than the Florida average. In Silver Springs Shores, FL, 64.3% of people are home owners and an average of 2.7 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Silver Springs Shores, FL. We make it easy to find Silver Springs Shores, FL real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Silver Springs Shores Home Affordability

$75,200Median home price
55% lower than Florida
$26,909Median home income
45% lower than Florida
2.8xHome price to income ratio
18% lower than Florida

Home affordability can be a very important factor when determining where to purchase real estate in Silver Springs Shores, FL. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Silver Springs Shores, FL is $75,200 and the median household income is $26,909. This results in a home price to income ratio of 2.8x, which is 18% lower than the Florida average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Silver Springs Shores, FL are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Silver Springs Shores, FL.

Silver Springs Shores Affordability Calculator

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When searching for real estate in Silver Springs Shores, FL, it is important to find a home that fits comfortably within your budget. The home affordability calculator allows you to determine what price of home in Silver Springs Shores, FL you can afford based on your income, debts and down payment. For an even more complete picture, you can add in further details such as: length of mortgage term, mortgage rate, property taxes, home insurance and HOA dues. This will estimate the costs of home ownership and display the home price that would fit within that budget. Knowing the price of home that you can afford in Silver Springs Shores, FL before you begin the house hunting process will keep you from getting too emotionally invested in homes that you may not be able to afford. The home affordability calculator will also allow you to balance your budget, so you know exactly how much will be spent on housing and how much you will have left over for any other living expenses and savings.

Silver Springs Shores Mortgage Calculator

Your monthly payment will be:

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What will my monthly costs be if I purchase Silver Springs Shores, FL real estate? There are many different variables that go into determining the monthly cost of a home. The biggest is obviously the home price. But after the actual price of the home you will also need to consider the down payment, loan term, interest rate, property taxes, home insurance, HOA dues and PMI (private mortgage insurance). PMI payments can be avoided for homeowners that are able to put 20% or more towards a down payment. The mortgage calculator has preset default values for these details, but they may be adjusted to give you a more accurate monthly payment estimate. Keep in mind that a good rule of thumb is to keep the DTI (debt-to-income) ratio to no more than 36 percent. This means that no more than 36 percent of gross monthly income should go to paying all debts.

Silver Springs Shores Demographics

7,929Population
1,659People / sq mile
37.0Median age
0.8:1Male/Female ratio

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Belleview, FL	4,689	$89,900	51%
Ocala, FL	57,873	$120,700	35%
Lady Lake, FL	14,501	$129,100	30%
The Villages, FL	69,457	$246,800	34%
Silver Springs Shores, FL	7,929	$75,200	59%

Cities with similar population

City, State	Population	Home Price	National Avg.
Antigo, WI	7,930	$77,400	58%
Lacombe, LA	7,930	$153,500	17%
Temple Hills, MD	7,927	$240,900	30%
Mahopac, NY	7,934	$369,200	100%
Fern Park, FL	7,924	$155,300	16%
Silver Springs Shores, FL	7,929	$75,200	59%

Source: The Silver Springs Shores, FL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).