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Miami condo cost calculator
Compare two residences using your own mortgage, HOA, tax, insurance and assessment figures. Unresolved costs stay visible.
Published by Eltherion, LLC. Free CSV export and printing.
Your cost scenarios
Enter the amounts you know. Leave unresolved costs blank; enter 0 only when a charge does not apply. Your entries stay in this page and are not submitted to us. Download before leaving or refreshing.
Compare the monthly costs
Fill in both scenarios to compare monthly totals. Missing costs can change which residence has the lower monthly cost.
Scenario A
Known monthly subtotal
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7 monthly cost categories need an amount. This is not a full monthly estimate.
Monthly breakdown
- Principal & interest
- Not entered
- Property taxes
- Not entered
- Owner insurance
- Not entered
- HOA dues
- Not entered
- Assessment installments
- Not entered
- Mortgage insurance
- Not entered
- Other ownership costs
- Not entered
Scenario B
Known monthly subtotal
—
7 monthly cost categories need an amount. This is not a full monthly estimate.
Monthly breakdown
- Principal & interest
- Not entered
- Property taxes
- Not entered
- Owner insurance
- Not entered
- HOA dues
- Not entered
- Assessment installments
- Not entered
- Mortgage insurance
- Not entered
- Other ownership costs
- Not entered
A planning calculation, not a loan quote or an assessment of affordability. The loan calculation assumes a fixed rate, monthly payments and full amortization. Annual costs are divided by 12. Upfront closing costs, lump-sum assessments, future changes and costs you have not entered are excluded.
How to build a useful Miami cost comparison
Look beyond principal and interest
Taxes, owner insurance, mortgage insurance and association dues can add to the monthly budget. HOA dues are usually paid separately from the mortgage servicer. Use the amount for each category once, whether paid through escrow or directly. CFPB: mortgage payment components; CFPB: HOA dues.
Review taxes for the purchase you are considering
Miami-Dade’s Property Appraiser cautions that a prior owner’s tax bill may not predict future taxes, including after a sale changes the property’s assessment or exemptions. Use the county’s estimator as a starting point for a property-specific discussion. Miami-Dade tax estimator and limitations.
Check insurance and assessment documents
Request the association budget, assessment schedule and insurance documents alongside a quote for the coverage you would buy. Ask about the unit policy and any separate flood or wind coverage. The calculator cannot determine coverage, exclusions, future assessments or a building’s financial condition. Organize the requests in the condo document checklist.
Understand the calculation
The loan balance is purchase price minus down payment. For a fixed-rate, fully amortizing loan, the payment is calculated using the entered annual rate divided by 12 and the entered term in months. At a zero interest rate, the balance is divided equally across those months. Cash purchases have no modeled principal, interest or mortgage insurance payment. Annual taxes and insurance are divided by 12; other entries are already monthly.
This compares a monthly scenario, not a forecast of lifetime ownership cost, investment return or affordability. Closing costs, upfront assessments, rate changes and future increases require a separate budget.