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City · 13,969 residents · Hillsborough County, Florida

Cheval , Florida

In Cheval, a typical home is worth $525,700 and typical rent is $1,442 a month. Compared with all of Hillsborough County, the typical home value is 42% higher and typical household income is 28% higher.

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  • Typical home value

    $525,700

    42% above the county

    46% above Florida

    • Cheval
    • Hillsborough
    • Florida

  • Typical rent

    $1,442a month

    13% below the county

    14% below Florida

    • Cheval
    • Hillsborough
    • Florida

  • Typical household income

    $101,907a year

    28% above the county

    37% above Florida

    • Cheval
    • Hillsborough
    • Florida

  • Households that own their home

    59%

    2 points below the county

    8 points below Florida

    • Cheval
    • Hillsborough
    • Florida

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

Cheval 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 Cheval apart

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

  1. The typical home in Cheval is worth $525,700, 42% more than in Hillsborough County as a whole ($371,500).

  2. Nearby, in Lake Magdalene, the typical home value is $371,800: 29% less than in Cheval ($525,700).

  3. The typical household income in Cheval is $101,907, 28% more than in Hillsborough County as a whole ($79,540).

  4. Cheval has the 40th smallest share of rent-burdened renters of the 434 cities in Florida with more than 5,000 people (47%).

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

The homes here

Housing in Cheval

What homes there are in Cheval, 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

As in Hillsborough County, most homes in Cheval are detached houses (59%).

Year built

By age, homes in Cheval look like those in Hillsborough County: the typical year built is 1994.

In Cheval, 62% of homes have 3 bedrooms or more, about the same as in Hillsborough County.

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

$2,839 a month

Hillsborough County: $2,003 a month

Without a mortgage

$881 a month

Hillsborough County: $657 a month

Owners with a mortgage

69%

Hillsborough County: 64%

Owning costs more in Cheval: with a mortgage, the typical cost is $2,839 a month; in Hillsborough County, $2,003. Without one, $881.

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

From 2015–2019 to 2020–2024, the typical home value in Cheval rose 48%; in Hillsborough County, it rose 72%.

Since 2015–2019, the typical rent in Cheval rose 32%, less than in Hillsborough County (46%).

While home values in Cheval changed +48% and rent +32%, the typical household income rose 44%.

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

MeasureChevalHillsborough 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 2.672.562.512.53
Drive alone 65%67%70%69%
Carpool Unreliable estimate9%9%9%
Public transit Unreliable estimate1%1%3%
Walk or bike Unreliable estimate2%2%3%
Work from home 27%21%16%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Much as in Hillsborough County, a household in Cheval has 2.67 people on average.

In Cheval, 27% of workers work from home, more than in Hillsborough County (21%).

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 Cheval?

A typical home costs more than the typical income allows

We start with a typical home in Cheval, worth $525,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 52% of the typical household income in Cheval, which is $101,907 a year. For that payment to be 28% of income, a household would need to earn about $189,303 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 Cheval. 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 $18,400 (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

$4,417

at 7.18% · 30 years

Loan amount
$516,178
Total interest
$742,659
Paid off in
November 2056

Includes $8,878 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,378 a month

  • Tight

    $2,378 to $3,057 a month

  • Hard

    more than $3,057 a month

    Your payment · 52%

Compared with the typical household income in Cheval ($101,907 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$4,417
Principal & interest$3,497
Property tax$469
Home insurance$219
FHA mortgage insurance (MIP)$233

You need at least $18,400 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

Cheval and Hillsborough County

Cheval 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).

Cheval's own numbers

Typical home value
$525,700
Typical monthly rent
$1,442
Typical yearly household income
$101,907
Households that own their home
59%
Effective property tax rate
1.07%

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 Cheval

A typical home in Cheval is worth $525,700: 42% above the county and 46% above Florida. With the typical household income in Cheval ($101,907 a year), a typical home costs 5.2 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.

  • Cheval 5.2 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

Cheval 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
  • Cheval $525,700
  • Hillsborough $371,500
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Cheval $1,442
  • Hillsborough $1,667
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Cheval $101,907
  • Hillsborough $79,540
  • Florida $74,568
  • United States $80,734
See the full table
Cheval next to Hillsborough County and Florida
Measure Cheval Hillsborough County Florida U.S.
Typical home value $525,700 $371,500 $359,000 $332,700
Typical monthly rent $1,442 $1,667 $1,669 $1,413
Typical yearly household income $101,907 $79,540 $74,568 $80,734
Households that own their home 59% 61% 68% 65%
Typical yearly property tax $5,638 $3,010 $2,730 $3,119
Effective property tax rate 1.07% 0.81% 0.76% 0.94%
Renters with high rent for their income 47% 58% 60% 51%

“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 Cheval

For a typical $525,700 home in Cheval, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Cheval's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $4,417a month

    Least cash to close
    Down payment
    $18,400
    Cash to close
    $34,171
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $233

  • Conventional, 5% down $4,321a month

    Down payment
    $26,285
    Cash to close
    $42,056
    Rate
    7.18%
    Mortgage insurance
    PMI · $250

  • Conventional, 20% down, no PMI $3,537a month

    Down payment
    $105,140
    Cash to close
    $120,911
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,023a month

    Down payment
    $78,855
    Cash to close
    $94,626
    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 Cheval and for Hillsborough County.

Property tax

Effective rate in Cheval

1.07%of the home’s value each year

$5,638 a year for the typical owner in Cheval.

  • Cheval 1.07%
  • Hillsborough 0.81%
  • Florida 0.76%

What Florida publishes Homestead exemption (Florida Department of Revenue)

Exemptions and deadlines in Florida

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 Cheval

Typical rent in Cheval is $1,442 a month: 13% below the county. In Cheval, 47% of renter households pay 30% or more of their income in rent.

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 Cheval

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Cheval is in ZIP code 33558.

For 2 bedrooms it is $1,860: $57 less than the fair market rent for Hillsborough County ($1,917).

  • 33558 $1,860$2,380

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Cheval 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 Cheval

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.

A young man and a young woman look something up together on a laptop.

HUD counseling is free or low-cost

Assistance programs in Cheval

1 program is for Cheval 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 Cheval the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Cheval

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

  • Operation Hope- Tampa

    2208 E Fowler Ave, Tampa · 8 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (813) 867-9658

  • Housing and Education Alliance

    9215 N Florida Ave Ste 104, Tampa · 9 miles away · Spanish

    • Mortgage delinquency and default
    • Fair housing pre-purchase workshops
    • and 3 more
    (813) 932-4663

  • NSC (naca Counseling Subsidiary) - Tampa, FL

    3824 W. Sligh Avenue, Tampa · 10 miles away · Spanish

    Also serves in Portuguese.

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (813) 287-5051

Every agency in Hillsborough County All counseling agencies in Florida

Help in Spanish near Cheval

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 Cheval

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

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Cheval

Short answers with the numbers for Cheval 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 Cheval?

The typical home value in Cheval is $525,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Hillsborough County it is $371,500.

How much does it cost to rent in Cheval?

Typical rent in Cheval is $1,442 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Hillsborough County is $1,917.

What is the FHA loan limit in Cheval?

Cheval 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.

How much property tax do owners pay in Cheval?

The typical homeowner in Cheval pays $5,638 a year, according to the U.S. Census Bureau. That is 1.07% of the home’s value; in Hillsborough County, the rate is 0.81%.

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

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).