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City · 32,083 residents · Hillsborough County, Florida

Lake Magdalene , Florida

In Lake Magdalene, a typical home is worth $371,800 and typical rent is $1,434 a month. Compared with all of Hillsborough County, typical rent is 14% lower and the share of households that own their home is 11 points higher.

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  • Typical home value

    $371,800

    About the same as the county

    4% above Florida

    • Lake Magdalene
    • Hillsborough
    • Florida

  • Typical rent

    $1,434a month

    14% below the county

    14% below Florida

    • Lake Magdalene
    • Hillsborough
    • Florida

  • Typical household income

    $75,594a year

    5% below the county

    About the same as Florida

    • Lake Magdalene
    • Hillsborough
    • Florida

  • Households that own their home

    72%

    11 points above the county

    5 points above Florida

    • Lake Magdalene
    • Hillsborough
    • Florida

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

Lake Magdalene 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 Lake Magdalene apart

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

  1. Nearby, in University, the typical home value is $164,900: 56% less than in Lake Magdalene ($371,800).

  2. 72% of households in Lake Magdalene own their home, against 61% in Hillsborough County.

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

The homes here

Housing in Lake Magdalene

What homes there are in Lake Magdalene, 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 Lake Magdalene: 61% of homes, more than in Hillsborough County (57%).

Year built

In Lake Magdalene, half of the homes were built before 1982; in Hillsborough County, before 1991.

By size, homes in Lake Magdalene look like those in Hillsborough County: 60% have 3 bedrooms or more.

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

The FHA loan limit for Hillsborough County is $541,287, and about 74% of owner-occupied homes in Lake Magdalene are worth less than that.

Monthly rent with utilities

With a mortgage

$1,840 a month

Hillsborough County: $2,003 a month

Without a mortgage

$684 a month

Hillsborough County: $657 a month

Owners with a mortgage

56%

Hillsborough County: 64%

Owning costs less in Lake Magdalene: with a mortgage, the typical cost is $1,840 a month; in Hillsborough County, $2,003. Without one, $684.

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 Lake Magdalene rose 61%; in Hillsborough County, it rose 72%.

The typical rent in Lake Magdalene rose 40% over the same time; in Hillsborough County, it rose 46%.

Here income did not keep up with housing: it rose 20%, while home values changed +61% and rent +40%.

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

MeasureLake MagdaleneHillsborough 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 2.6%3.1%3.3%3.4%
People per household 2.402.562.512.53
Drive alone 71%67%70%69%
Carpool 8%9%9%9%
Public transit Unreliable estimate1%1%3%
Walk or bike Unreliable estimate2%2%3%
Work from home 19%21%16%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

In Lake Magdalene, 2.6% of households live with more than one person per room, about the same as in Hillsborough County.

On average, a household in Lake Magdalene has 2.40 people, fewer than in Hillsborough County (2.56).

In Lake Magdalene, 71% of workers drive alone to work; 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 Lake Magdalene?

A typical home costs more than the typical income allows

We start with a typical home in Lake Magdalene, worth $371,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 48% of the typical household income in Lake Magdalene, which is $75,594 a year. For that payment to be 28% of income, a household would need to earn about $129,768 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 Lake Magdalene. 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 $13,013 (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

$3,028

at 7.18% · 30 years

Loan amount
$365,066
Total interest
$525,244
Paid off in
November 2056

Includes $6,279 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,764 a month

  • Tight

    $1,764 to $2,268 a month

  • Hard

    more than $2,268 a month

    Your payment · 48%

Compared with the typical household income in Lake Magdalene ($75,594 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,028
Principal & interest$2,473
Property tax$236
Home insurance$155
FHA mortgage insurance (MIP)$164

You need at least $13,013 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

Lake Magdalene and Hillsborough County

Lake Magdalene 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).

Lake Magdalene's own numbers

Typical home value
$371,800
Typical monthly rent
$1,434
Typical yearly household income
$75,594
Households that own their home
72%
Effective property tax rate
0.76%

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 Lake Magdalene

A typical home in Lake Magdalene is worth $371,800: about the same as the county and 4% above Florida. With the typical household income in Lake Magdalene ($75,594 a year), a typical home costs 4.9 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.

  • Lake Magdalene 4.9 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

Lake Magdalene 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
  • Lake Magdalene $371,800
  • Hillsborough $371,500
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Lake Magdalene $1,434
  • Hillsborough $1,667
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Lake Magdalene $75,594
  • Hillsborough $79,540
  • Florida $74,568
  • United States $80,734
See the full table
Lake Magdalene next to Hillsborough County and Florida
Measure Lake Magdalene Hillsborough County Florida U.S.
Typical home value $371,800 $371,500 $359,000 $332,700
Typical monthly rent $1,434 $1,667 $1,669 $1,413
Typical yearly household income $75,594 $79,540 $74,568 $80,734
Households that own their home 72% 61% 68% 65%
Typical yearly property tax $2,826 $3,010 $2,730 $3,119
Effective property tax rate 0.76% 0.81% 0.76% 0.94%
Renters with high rent for their income 57% 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 Lake Magdalene

For a typical $371,800 home in Lake Magdalene, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lake Magdalene's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,028a month

    Least cash to close
    Down payment
    $13,013
    Cash to close
    $24,167
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $164

  • Conventional, 5% down $2,960a month

    Down payment
    $18,590
    Cash to close
    $29,744
    Rate
    7.18%
    Mortgage insurance
    PMI · $177

  • Conventional, 20% down, no PMI $2,405a month

    Down payment
    $74,360
    Cash to close
    $85,514
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,749a month

    Down payment
    $55,770
    Cash to close
    $66,924
    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 Lake Magdalene and for Hillsborough County.

Property tax

Effective rate in Lake Magdalene

0.76%of the home’s value each year

$2,826 a year for the typical owner in Lake Magdalene.

  • Lake Magdalene 0.76%
  • 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 Lake Magdalene

Typical rent in Lake Magdalene is $1,434 a month: 14% below the county. In Lake Magdalene, 57% 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 Lake Magdalene

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

For 2 bedrooms it runs from $1,680 in 33613 to $1,800 in 33618.

None is above the fair market rent for Hillsborough County ($1,917).

  • 33613 $1,680$2,150
  • 33618 $1,800$2,300

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lake Magdalene 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 Lake Magdalene

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 grandmother smiles, seated at home.

HUD counseling is free or low-cost

Assistance programs in Lake Magdalene

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

Which programs do I qualify for? All programs in Florida

Housing counselors near Lake Magdalene

The HUD-approved agencies closest to the center of Lake Magdalene, 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 · 3 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 · 4 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 · 5 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 Lake Magdalene

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 Lake Magdalene

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

All guides
Two girls write and draw together at the living-room table.

Questions

Housing questions about Lake Magdalene

Short answers with the numbers for Lake Magdalene 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 Lake Magdalene?

The typical home value in Lake Magdalene is $371,800, 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 Lake Magdalene?

Typical rent in Lake Magdalene is $1,434 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 Lake Magdalene?

Lake Magdalene 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 Lake Magdalene?

The typical homeowner in Lake Magdalene pays $2,826 a year, according to the U.S. Census Bureau. That is 0.76% of the home’s value; in Hillsborough County, the rate is 0.81%.

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

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).