Quick facts: Okeechobee, FL

Quick Facts

107.5
Cost of Living
above US average
40,412
Population
3.59
Crime Rate per 1000
below US average
$50,476
Median Income
below US average
$49,000
Median House Price
above US average
$2327.14
Average Rent
above US average
16%
Poverty Rate
above US average
3.7%
Unemployment Rate
below 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 $50,476.

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Income Needed to Buy

βœ“ Affordable
$15k/year
Based on $49,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($50,476) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$100k/year
Based on $2327.14/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $100k vs median $50,476
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Okeechobee, FL

Okeechobee, Florida, is a charming small city located in the central part of the state, serving as the county seat of Okeechobee County. Known for its picturesque landscapes, Okeechobee is nestled around the expansive Lake Okeechobee, which is the largest freshwater lake in Florida. This natural gem offers a range of recreational activities such as fishing, boating, and bird-watching, attracting nature enthusiasts and outdoor lovers. The city has a rich agricultural heritage, with a strong focus on cattle ranching and crop farming. Okeechobee hosts the annual Okeechobee County Fair, celebrating local culture, agriculture, and community spirit. The area also boasts a vibrant arts scene with local galleries and events showcasing the work of regional artists. Okeechobee's proximity to major highways allows for easy access to larger cities, while retaining a quaint, rural charm. The warm climate, friendly atmosphere, and scenic beauty make Okeechobee an inviting destination for visitors and residents alike, offering a unique blend of outdoor adventure and Southern hospitality. Whether visiting for recreation or living the laid-back lifestyle, Okeechobee is a hidden gem in Florida.

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