Quick facts: Bonifay, FL

Quick Facts

107.5
Cost of Living
above US average
2,787
Population
5.02
Crime Rate per 1000
below US average
$32,750
Median Income
below US average
$139,900
Median House Price
above US average
$700.0
Average Rent
below US average
12%
Poverty Rate
above US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $32,750.

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Income Needed to Buy

βœ— Stretch
$44k/year
Based on $139,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $44k vs median $32,750
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Income Needed to Rent

βœ“ Affordable
$30k/year
Based on $700.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($32,750) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Bonifay, FL

Bonifay is a charming small city located in Holmes County, Florida, nestled in the picturesque Florida Panhandle. Known for its warm Southern hospitality, Bonifay serves as a gateway to both rural experiences and outdoor adventures. The city is rich in history, with roots that trace back to the late 19th century. With a population of approximately 2,600 residents, Bonifay maintains a close-knit community atmosphere. Visitors can enjoy the serene beauty of nearby parks and the lush landscapes typical of the region. Bonifay boasts several local events throughout the year, including the annual Bonifay Rodeo, which draws visitors from across the state. For those seeking outdoor activities, the area offers opportunities for fishing, hiking, and exploring nature in nearby attractions like the scenic Holmes Creek. With its eclectic mix of culture, history, and recreation, Bonifay provides a quaint yet vibrant backdrop for visitors and residents alike. Its small-town charm and welcoming vibe make it a delightful stop in the Florida Panhandle.

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