Renting vs buying in Madeira Beach
John's Pass, a working fishing fleet, and a 6.4% fall in a year. Here is the arithmetic of owning here rather than renting, on the millage the county publishes, Florida's homestead exemption, and a market still absorbing the largest storm surge this bay has recorded, and then the part the arithmetic misses.
Calculator
The short answer
The typical home in Madeira Beach was worth about $648,675 in June 2026, and a three-bedroom in this bay asks roughly $2,552 a month. Both figures come from the same two Zillow indexes used for the Charlotte, Orlando, Palm Beach and Miami layers elsewhere on this site, in the same month, which is what makes all five comparable.
The millage is not the rate you pay. Madeira Beach is charged 16.2172 mills, but a homesteaded buyer pays about $9,866 a year: the 1.52% used below, because $25,000 of taxable value comes off for every taxing authority and a second slice, indexed to inflation each 1 January since 2025, comes off for all of them except the school district. You file for it with the Pinellas County Property Appraiser by 1 March of the year after you buy.
And then there is the insurance, which is the number that actually decides this. The $750 a month assumed here is $9,000 a year: a barrier-island estimate, the most exposed category in this bay after 2024. Tax and insurance together are $18,866 a year before a dollar of principal or interest. Replace the insurance figure with a real quote before you trust any result on this page; it moves the answer further than the mortgage rate does.
The seller's tax bill is not a guide to yours. Save Our Homes caps a homesteaded property's assessed value at 3% growth a year, and that cap resets to full market value the January after the sale, so a long-tenured owner can be taxed on a fraction of what you will be taxed on for the same house. Ask the property appraiser what the assessment would be at your purchase price, not what the current bill is.
And the thing that is different here from the rest of Florida. Homeowners insurance does not cover flood, and in Tampa Bay that distinction did the damage. Hurricane Helene put the largest storm surge on record into this bay in September 2024, over six feet in St. Petersburg and more than seven on the barrier islands, and Milton followed two weeks later. Flood is a separate policy, the elevation certificate is the document that prices it, and FEMA's substantial improvement rule can force a full elevation on what looks like an ordinary repair. The figure on this page is homeowners insurance only.
What this page cannot see. None of this includes a community development district assessment. A CDD is a special-purpose government that borrows to build a master-planned community's roads, drainage and amenities and repays the bonds through a non-ad-valorem line on your tax bill. Commonly $1,200 to $3,000 a year in the newer parts of Florida. It is in no millage, it is not in any figure here, and it is the first thing to check on a new-build address. Nor can it see a flood policy, an elevation certificate, or a substantial improvement determination: the three documents that decide what a damaged property here can become.
Your situation
Compare like for like: the rent on somewhere you would actually be willing to live, not the cheapest listing in the city. Drop the price to around $300,000 and the rent to a one-bedroom figure to compare apartments instead, and put the condo fee in under Assumptions.
20.0% down. The renter starts with this plus closing costs: $134,929: invested instead.
The single biggest lever. Buying costs a lot to enter and a lot to exit, and only time amortizes that away.
Assumptions: every one of them editable
Madeira Beach's typical home value moved -6.4% in the year to June 2026. The 2% default is a long-run assumption rather than this market's recent experience: try both, and try zero.
What the renter earns on the down payment they never spent. This is the comparison's hidden lever. A renter who spends it instead of investing it does far worse than this model shows.
Florida forbids its counties and cities from controlling rents at all. The statute allowed a narrow exception (a declared housing emergency, a specific finding, and a referendum) and the legislature closed even that in 2023. There is no cap, no guideline and no prospect of one, so any rent-growth figure you enter here is a forecast rather than a legal ceiling.
Roofs, furnaces, fences, hail. Averaged out it is a real cost even in the years nothing breaks.
Zero for a single-family house. Where there is a condominium, $700 a month is a conservative figure for this bay, and check the milestone inspection and the structural integrity reserve study first, because Pinellas's older waterfront buildings have been hit by the 2022 reserve legislation and the 2024 storms at once.
Commission and legal fees, charged against the price you eventually sell at. The owner's net worth below is after this comes off.
Net worth, side by side
The buyer's line is home value minus what is still owed minus the cost of selling, plus anything they invested in months when owning was cheaper. The renter's line is one portfolio: the down payment and closing costs they never spent, plus the monthly difference whenever renting is cheaper.
Show the year-by-year figures
| Year | Owner | Renter | Difference |
|---|---|---|---|
| 1 | $105,317 | $178,839 | −$73,522 |
| 2 | $123,692 | $224,924 | −$101,232 |
| 3 | $142,727 | $273,292 | −$130,565 |
| 4 | $162,456 | $324,059 | −$161,603 |
| 5 | $182,914 | $377,346 | −$194,432 |
| 6 | $204,138 | $433,280 | −$229,142 |
| 7 | $226,169 | $491,994 | −$265,825 |
| 8 | $249,048 | $553,628 | −$304,580 |
| 9 | $272,822 | $618,331 | −$345,509 |
| 10 | $297,537 | $686,257 | −$388,719 |
| 11 | $323,246 | $757,567 | −$434,322 |
| 12 | $350,001 | $832,434 | −$482,433 |
| 13 | $377,860 | $911,036 | −$533,176 |
| 14 | $406,886 | $993,562 | −$586,676 |
| 15 | $437,142 | $1,080,209 | −$643,068 |
| 16 | $468,698 | $1,171,186 | −$702,488 |
| 17 | $501,629 | $1,266,711 | −$765,083 |
| 18 | $536,012 | $1,367,014 | −$831,002 |
| 19 | $571,931 | $1,472,334 | −$900,403 |
| 20 | $609,476 | $1,582,925 | −$973,450 |
| 21 | $648,741 | $1,699,054 | −$1,050,313 |
| 22 | $689,827 | $1,820,998 | −$1,131,172 |
| 23 | $732,842 | $1,949,053 | −$1,216,210 |
| 24 | $777,901 | $2,083,524 | −$1,305,623 |
| 25 | $825,126 | $2,224,736 | −$1,399,610 |
| 26 | $874,648 | $2,373,030 | −$1,498,382 |
| 27 | $926,604 | $2,528,760 | −$1,602,156 |
| 28 | $981,144 | $2,692,304 | −$1,711,159 |
| 29 | $1,038,426 | $2,864,053 | −$1,825,627 |
| 30 | $1,098,611 | $3,044,417 | −$1,945,806 |
- The rate is fixed for the life of the loan, so there is no renewal to model, but nothing here credits you for refinancing into a lower one either.
- Neither household is credited with tax on their investments, and the buyer's gain on a principal residence is tax-free while the renter's portfolio may not be.
An estimate from published figures, not a lender quote.
Questions people actually ask
Is it worth buying in Madeira Beach right now?
The typical home in Madeira Beach is worth about $648,675 and a three-bedroom in this metro asks roughly $2,552 a month. At 6.67% on a 30-year fixed loan with 20% down, the mortgage is $3,338 a month; add about $822 in property tax and $750 in homeowners insurance and the owner's month is closer to $4,910. The honest complication is that Madeira Beach's typical value fell 6.4% over the year to June 2026, and twenty-three of the twenty-four municipalities in this layer fell. The 2% appreciation the calculator assumes is a long-run figure, not a description of this market: try zero, and try negative.
Why is the tax rate on this page 1.52% when Madeira Beach is charged 16.2172 mills?
About 1.52% of what you pay for the house, which is lower than the 16.2172 mills Madeira Beach is charged, and the difference is Florida's homestead exemption rather than any assessment lag. The state assesses at full market value and a purchase resets the assessment to the price. What there is instead is an exemption: $25,000 of taxable value comes off for every taxing authority and a second slice comes off for all of them except the Pinellas County school board, which levies 6.2930 of the 16.2172. That second slice was $25,000 through the 2024 tax roll and has been adjusted for inflation every 1 January since, under the 2024 amendment to Article VII section 6 of the state constitution, so it is now somewhat more than $25,000. The figures here use the base amount, because the Department of Revenue sends the adjusted figure to the county property appraisers rather than publishing it. The difference is worth a few dollars a year on a bill, and the county property appraiser can tell you the amount in force. A homesteaded buyer's first-year bill is therefore about $9,866 on the $648,675 typical home value here. That 16.2172 is the figure Pinellas County publishes for this taxing district rather than a total assembled here, and Madeira Beach's own council sets 2.7500 of it. The exemption is not automatic: you file for it with the county property appraiser by 1 March of the year after you buy. The seller's tax bill is not a guide to yours. Save Our Homes caps a homesteaded property's assessed value at 3% growth a year, and that cap resets to full market value the January after the sale, so a long-tenured owner can be taxed on a fraction of what you will be taxed on for the same house. Ask the property appraiser what the assessment would be at your purchase price, not what the current bill is.
What did the 2024 storms do to this market, and does it still matter?
It is the single most important context for any purchase here. Homeowners insurance does not cover flood, and in Tampa Bay that distinction did the damage. Hurricane Helene put the largest storm surge on record into this bay in September 2024, over six feet in St. Petersburg and more than seven on the barrier islands, and Milton followed two weeks later. Flood is a separate policy, the elevation certificate is the document that prices it, and FEMA's substantial improvement rule can force a full elevation on what looks like an ordinary repair. The figure on this page is homeowners insurance only. The consequences are still working through prices: Madeira Beach is on a barrier island, which took the worst of it. Across this layer the barrier-island and low-lying bayfront municipalities fell five to seven percent over the year to June 2026, while the two on the Belleair bluff fell under two percent and one of them rose. Elevation is being priced in Tampa Bay in a way it simply was not three years ago.
How much is insurance in Madeira Beach, and why is it lower than south Florida?
The figure used here is $750 a month ($9,000 a year) which reflects a barrier-island address, the most exposed category in this bay. What surprises people is the comparison: Tampa averages about $2,400 a year and a Pinellas single-family house $3,900 to $5,500, against Miami-Dade's $6,045 and Palm Beach County's $6,614, even though Tampa Bay took a larger surge in 2024 than either of those counties has on record. Homeowners premiums here have not caught up with the demonstrated risk, and the exposure that actually did the damage is flood, which is a separate policy this figure does not include.
Why is the seller's tax bill so much lower than the figure here?
Save Our Homes. A homesteaded property's assessed value may rise no more than 3% a year (or the change in the consumer price index, whichever is lower) for as long as the same owner keeps the exemption, and it resets to full market value the January after a sale. On this $648,675 house the first-year bill is about $9,866; a long-tenured neighbour may be paying a fraction of it. If you already own a Florida homestead you can port up to $500,000 of the accrued benefit to the next one. Note the corollary in a falling market: a buyer's assessment resets to the price they paid, so buying after a decline locks in a lower base than the neighbours have.
What are the closing costs on a Madeira Beach home?
The documentary stamp tax on the deed (70 cents per $100, or $4,541 on this house) is the seller's by convention in both these counties. What is the buyer's is a second documentary stamp on the promissory note at 0.35% and a non-recurring intangible tax on the mortgage at 0.2%: on a $518,940 loan that is $2,854, and it gets larger the less you put down. With the settlement fee at about $850, an owner's title policy, an inspection at about $700 (plus wind mitigation and four-point reports the insurer will want) and recording, the buyer's side comes to about $5,194 before the lender's charges. On any coastal property add an elevation certificate.
How long do you have to stay for buying to beat renting in Madeira Beach?
Getting in is about $5,194 and getting out roughly 6.5%: the commission, the seller's $4,541 deed stamp and the title policy, or about $42,164 on this house. The carrying cost is $18,866 a year in tax and insurance that a renter does not pay, plus flood cover where it applies. But the variable that actually decides the crossover here is appreciation, and this market has been falling. Set it to zero and see what the answer looks like; that is a more honest starting point for Tampa Bay in 2026 than 2%.
Does Florida have rent control?
No, and Madeira Beach is not permitted to introduce it. Florida forbids its counties and cities from controlling rents at all. The statute allowed a narrow exception (a declared housing emergency, a specific finding, and a referendum) and the legislature closed even that in 2023. There is no cap, no guideline and no prospect of one, so any rent-growth figure you enter here is a forecast rather than a legal ceiling. Tampa Bay rents rose sharply in the early 2020s with no statutory brake, and have flattened since as supply caught up, which cuts the other way for a renter weighing this decision, because a soft rental market gives a landlord no floor either.
What is this calculator not accounting for in Madeira Beach?
Four things, and the first two are specific to this bay. Flood insurance, which is a separate policy from the homeowners figure above and is the cover that mattered in 2024. And FEMA's substantial improvement rule, which requires a structure damaged or improved beyond fifty percent of its value to be brought up to current elevation standards, on a 1950s slab house near the water that can cost more than the house is worth, and it is the calculation being made on hundreds of lots in this metro right now. Then the usual two: None of this includes a community development district assessment. A CDD is a special-purpose government that borrows to build a master-planned community's roads, drainage and amenities and repays the bonds through a non-ad-valorem line on your tax bill. Commonly $1,200 to $3,000 a year in the newer parts of Florida. It is in no millage, it is not in any figure here, and it is the first thing to check on a new-build address. And the local variation: 23 miles from downtown Tampa in a straight line is not a drive time, None. and a single figure for a municipality of 4,014 people averages over addresses whose flood exposure differs more than their price does. The seller's tax bill is not a guide to yours. Save Our Homes caps a homesteaded property's assessed value at 3% growth a year, and that cap resets to full market value the January after the sale, so a long-tenured owner can be taxed on a fraction of what you will be taxed on for the same house. Ask the property appraiser what the assessment would be at your purchase price, not what the current bill is.
Which figures here are estimates
The home values, rents and every component of the millage come from published sources, each listed below with the period it describes. These do not:
- Home insurance: $250 a month inland, $390 on the coast and $750 on the barrier islands. It is the least certain figure here and the one to replace with a real quote; it also excludes flood, which is a separate policy and is what actually did the damage in 2024
- The condominium fee at $700 a month, which on the Pinellas waterfront is conservative and has been moving since both the 2022 reserve legislation and the 2024 storms
- The split of rent by bedroom count, derived on the same ratios the other Florida layers use. The level is measured, the shape is assumed
- The rent in the seven municipalities Zillow publishes no index for, which falls back to the median of the other seventeen
- The utilities an owner pays over a renter, at $150 a month
- Maintenance at 1% of the home's value a year
- Every forward-looking rate: appreciation, rent growth, cost inflation and the return on the invested difference, and note that twenty-three of these twenty-four municipalities fell in value over the year to June 2026, so a 2% appreciation assumption is a long-run figure rather than a description of this market
- And nothing at all for flood insurance, an elevation certificate, or the cost of a substantial improvement determination
If you want the payment side on its own. Prepayments, the month mortgage insurance stops, and the documentary stamp and intangible taxes Florida charges on the loan: the Madeira Beach mortgage calculator covers it. To see how Madeira Beach compares with the other twenty-three municipalities in this bay, use the bay comparison; Madeira Beach is 23 miles from downtown Tampa. For the same rules and the same indexes on the other side of the state, see Miami and Miami-Dade.
Sources
- Zillow Home Value Index (ZHVI), all homes, mid-tier, smoothed and seasonally adjusted: city file, June 2026 · Zillow Research · retrieved Supports: A typical home value for each municipality, computed on one method across all twenty-four, The same series and month the Charlotte, Orlando, Palm Beach and Miami pages use, Year-over-year change to June 2026, which is negative in twenty-three of the twenty-four
- Zillow Observed Rent Index (ZORI), all homes, smoothed: city file, June 2026 · Zillow Research · retrieved Supports: Asking rents for the seventeen municipalities Zillow indexes
- Final 2025 millage rates by taxing district · Hillsborough County Property Appraiser · retrieved Supports: Published totals of 19.8428 for Tampa, 19.5319 for Temple Terrace, 18.2926 for Plant City and 18.2515 for the unincorporated county, Every component behind them, including the 0.5583 library services levy Temple Terrace and Plant City are outside and the 0.5000 transit authority levy Plant City is outside, A county General Purpose MSTU of 4.6163 paid in the unincorporated area in place of a municipal rate
- Millage rates levied for 2025 taxes · Pinellas County Tax Collector · retrieved Supports: A published real estate total for every taxing district in Pinellas County, from Redington Shores at 15.1568 to Belleair at 20.4449, including St Petersburg at 19.9197 and Belleair Beach at 15.4466, Countywide components: general fund 4.5423, health department 0.0713, emergency medical services 0.8050 and school 6.2930, Other districts totalling 1.0256: planning council 0.0175, Juvenile Welfare Board 0.8250 and the Southwest Florida Water Management District 0.1831, The Transit District at 0.7300 and which districts are inside it, and the Pinellas Suncoast Fire District at 0.6700 and which are inside that
- Table 1: Comparison of Taxes Levied, county and municipal governments, fiscal years 2024-25 and 2025-26 · Florida Department of Revenue, Property Tax Oversight · retrieved Supports: Independent confirmation of each municipality's own adopted 2025-26 levy in both counties
- Annual estimates of the resident population for incorporated places, 2020 to 2024 · United States Census Bureau, Population Estimates Program · retrieved Supports: 2020 census counts and 2024 estimates for each municipality, Tampa at 414,547 and St. Petersburg at 267,102; Indian Shores at 1,190
- Hurricane Helene storm surge and Pinellas County flooding, September 2024 · Latent Insurance, on National Weather Service and Pinellas County data · retrieved Supports: The largest storm surge on record for St. Petersburg, over six feet in the city and more than seven on the barrier islands, Thousands of Pinellas homes flooded, many of which had never flooded before, St. Petersburg single-family homeowners insurance of roughly $3,900 to $5,500 a year with wind coverage, and higher on the barrier islands
- Home insurance in Tampa, Florida: 2026 rates · InsuranceQuotes · retrieved Supports: Tampa homeowners insurance averaging about $2,400 a year in 2026, A Tampa Bay range of roughly $3,285 to $5,100 across Hillsborough, Pinellas and Pasco
- Primary Mortgage Market Survey · Freddie Mac · retrieved Supports: 30-year fixed-rate mortgage averaging 6.67%
- Documentary stamp tax · Florida Department of Revenue · retrieved Supports: 70 cents per $100 on a deed, in every county except Miami-Dade, which charges 60 cents plus a 45-cent surtax, 35 cents per $100 on a promissory note or other written obligation to pay money
- Governmental leasehold intangible personal property tax and the non-recurring intangible tax on mortgages · Florida Department of Revenue · retrieved Supports: A non-recurring intangible tax of 2 mills: 0.2%, on the obligation secured by a mortgage on Florida real property
- Property tax exemptions and additional benefits · Florida Department of Revenue · retrieved Supports: A $25,000 homestead exemption applying to all taxing authorities and a second slice, $25,000 in the 2024 base year and adjusted for inflation each 1 January since, applying to all but the school district, The Save Our Homes assessment limitation of 3% or the change in CPI, whichever is lower, Portability of up to $500,000 of accrued Save Our Homes benefit to a new homestead, The 1 March filing deadline
- Chapter 2023-17, Laws of Florida: preemption of rent control · The Florida Senate · retrieved Supports: The repeal of the referendum exception that had allowed a local rent control ordinance in a declared housing emergency
These are estimates built from published figures, not a lender quote, a pre-approval or financial advice. Rates, premiums and state and federal rules change; confirm anything you plan to act on with a mortgage professional and read the sourcing methodology.