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City · 7,181 residents · Hillsborough County, Florida

Balm , Florida

In Balm, a typical home is worth $345,300. Compared with all of Hillsborough County, typical household income is 44% higher, the typical home value is 7% lower, and the share of households that own their home is 16 points higher.

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  • Typical home value

    $345,300

    7% below the county

    4% below Florida

    • Balm
    • Hillsborough
    • Florida

  • Typical household income

    $114,659a year

    44% above the county

    54% above Florida

    • Balm
    • Hillsborough
    • Florida

  • Households that own their home

    78%

    16 points above the county

    10 points above Florida

    • Balm
    • Hillsborough
    • Florida

Source: U.S. Census Bureau, Average 2020–2024

Balm is in Hillsborough County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Hillsborough County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Balm apart

What this place has that others do not, from public data, most unusual first.

  1. The typical household income in Balm is $114,659, 44% more than in Hillsborough County as a whole ($79,540).

  2. 78% of households in Balm own their home, against 61% in Hillsborough County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Balm

What homes there are in Balm, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house rules in Balm: 89% of homes, more than in Hillsborough County (57%).

Year built

Homes in Balm are newer: the typical year built is 2014; in Hillsborough County, 1991.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,713 a month

Hillsborough County: $2,003 a month

Owners with a mortgage

88%

Hillsborough County: 64%

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Balm rose 58% since 2015–2019, less than in Hillsborough County (72%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureBalmHillsborough CountyFloridaUnited States
Rental vacancy Unreliable estimate6.4%7.6%5.5%
Homeowner vacancy Unreliable estimate1.1%1.4%0.9%
More than one person per room Unreliable estimate3.1%3.3%3.4%
People per household 3.692.562.512.53
Drive alone 67%67%70%69%
Carpool Unreliable estimate9%9%9%
Public transit Unreliable estimate1%1%3%
Walk or bike Unreliable estimate2%2%3%
Work from home 16%21%16%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

More people live in each home here: 3.69 on average, against 2.56 in Hillsborough County.

To get to work, 67% of workers in Balm drive alone; in Hillsborough County, 67%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Balm?

A typical home is within reach of the typical income

We start with a typical home in Balm, worth $345,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 27% of the typical household income in Balm, which is $114,659 a year.

The calculator's FHA and conventional loan limits are those of all of Hillsborough County.

Your numbers

Local data
$

Starts at the typical home value in Balm. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $12,086 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,827

at 7.18% · 30 years

Loan amount
$339,045
Total interest
$487,807
Paid off in
November 2056

Includes $5,831 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,675 a month

  • Tight

    $2,675 to $3,440 a month

    Your payment · 30%

  • Hard

    more than $3,440 a month

Compared with the typical household income in Balm ($114,659 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,827
Principal & interest$2,297
Property tax$233
Home insurance$144
FHA mortgage insurance (MIP)$153

You need at least $12,086 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Balm and Hillsborough County

Balm is in Hillsborough County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Balm's own numbers

Typical home value
$345,300
Typical yearly household income
$114,659
Households that own their home
78%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Hillsborough County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,917
Price change over 5 years (FHFA)
+63%
Homes in a high flood-risk zone
13%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Hillsborough County.

Everything about Hillsborough County

Buying

Buying a home in Balm

A typical home in Balm is worth $345,300: 7% below the county and 4% below Florida. With the typical household income in Balm ($114,659 a year), a typical home costs 3.0 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Balm 3.0 years
  • Hillsborough 4.7 years
  • Florida 4.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Hillsborough County

According to FHFA’s house price index, home prices in Hillsborough County rose 140% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Hillsborough County.

Period County Florida U.S.
Last year (2025) +1.7% −0.5% +2.9%
5 years (2020–2025) +63% +60% +47%
10 years (2015–2025) +140% +127% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Balm next to Hillsborough County, Florida and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Balm $345,300
  • Hillsborough $371,500
  • Florida $359,000
  • United States $332,700
Typical yearly household income
  • Balm $114,659
  • Hillsborough $79,540
  • Florida $74,568
  • United States $80,734
See the full table
Balm next to Hillsborough County and Florida
Measure Balm Hillsborough County Florida U.S.
Typical home value $345,300 $371,500 $359,000 $332,700
Typical yearly household income $114,659 $79,540 $74,568 $80,734
Households that own their home 78% 61% 68% 65%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Hillsborough County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Balm

For a typical $345,300 home in Balm, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, an example home insurance and mortgage insurance when it applies. It leaves out property tax because the Census Bureau doesn't publish Balm's rate.

  • FHA, 3.5% down $2,593a month

    Least cash to close
    Down payment
    $12,086
    Cash to close
    $22,445
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $153

  • Conventional, 5% down $2,530a month

    Down payment
    $17,265
    Cash to close
    $27,624
    Rate
    7.18%
    Mortgage insurance
    PMI · $164

  • Conventional, 20% down, no PMI $2,015a month

    Down payment
    $69,060
    Cash to close
    $79,419
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,334a month

    Down payment
    $51,795
    Cash to close
    $62,154
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Balm and for Hillsborough County.

Flood risk in Hillsborough County

FEMA does not publish these numbers by city: they are for all of Hillsborough County.

Homes in the high-risk zone
13%
56,828
Of those, with NFIP insurance
61%
County Florida U.S.
Homes in the high-risk zone 13% 13% 3.5%
Of those, with NFIP insurance 61% 67% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Balm

The Census Bureau publishes no typical rent for Balm. Below are the fair market rents for Hillsborough County.

HUD publishes a fair market rent for all of Hillsborough County, by unit size. To pay the 2-bedroom one ($1,917 a month) without spending more than 30% of your income, you would need to earn $36.87 an hour working full time.

HUD fair market rent for all of Hillsborough County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,597 $30.71 $63,880
1 bedroom $1,648 $31.69 $65,920
2 bedrooms $1,917 $36.87 $76,680
3 bedrooms $2,448 $47.08 $97,920
4 bedrooms $2,977 $57.25 $119,080

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Balm

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Balm has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,660 in 33598 to $2,090 in 33503.

1 of the 2 is above the fair market rent for Hillsborough County ($1,917).

  • 33503 $2,090$2,670
  • 33598 $1,660$2,120

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Balm when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Balm

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 8 HUD-approved agencies with an office in Hillsborough County; 7 say they serve in Spanish.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Balm

1 program is for Balm or Hillsborough County, by its own record: they come first, each with what its official page says about being open. The ones below are statewide in Florida: they work in Balm the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Balm

The HUD-approved agencies closest to the center of Balm, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Florida Home Partnership Inc

    201 14th Ave SE, Ruskin · 9 miles away · Spanish

    • Budget and financial counseling
    • Budget and credit workshops
    • and 3 more
    (813) 672-7860

  • Florida Home Partnership Inc

    201 14th Ave SE, Ruskin · 9 miles away · Spanish

    • Budget and financial counseling
    • Budget and credit workshops
    • and 3 more
    (813) 672-7860

  • Real Estate Education and Community Housing, Inc.

    4006 S. MacDill Avenue, Tampa · 16 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (561) 491-1670

Every agency in Hillsborough County All counseling agencies in Florida

Help in Spanish near Balm

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Balm

In HUD’s record, no housing authority with an office in Hillsborough County is named for Balm or Hillsborough County.

2 other authorities have an office in Hillsborough County: see the list Source: HUD

Cities

Other cities in Hillsborough County

These cities are also in Hillsborough County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Hillsborough County Housing in Florida
See 19 more cities in Hillsborough County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Balm, with the typical home value.

Neighboring counties

If Hillsborough County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Balm.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Balm

Short answers with the numbers for Balm and all of Hillsborough County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Balm?

The typical home value in Balm is $345,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Hillsborough County it is $371,500.

What is the FHA loan limit in Balm?

Balm uses the FHA limit for all of Hillsborough County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

Where can I find free help to buy or rent in Balm?

There are 8 HUD-approved counseling agencies with an office in Hillsborough County. 7 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).