Florida · Tampa-St. Petersburg-Clearwater, FL metro area

Buying a home in Spring Hill, Florida

In Spring Hill, the median value of owner-occupied homes is $288,500, Hernando County's effective property tax rate is 0.67%, a purchase mortgage carried a median $9,141 in total loan costs in 2025, and median gross rent is $1,440 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Spring Hill home costs, fact by fact

About Spring Hill

Spring Hill is an unincorporated community in Florida, with a population of 119,983. It lies in the Tampa-St. Petersburg-Clearwater, FL metro area, ranked 17th among U.S. metro areas. The median value of owner-occupied homes, as estimated by owners rather than a sale price, is $288,500, and 80.3% of homes are owner-occupied.

Reading the Spring Hill figures

Spring Hill is valued at $288,500, among the lower-priced cities on the Florida list: under the state's $396,700, just under Jacksonville at $293,700, and just above Palm Bay at $283,200. Lakeland, at $249,400, is lower still. Ownership is high. Households that own make up 80.3%, level with Deltona's 80.2% and well above Lakeland's 56.4%.

Rent of $1,440 is near Jacksonville's $1,465, while Miami asks $1,758. The HUD benchmark of $1,917 comes from the wider Tampa-area figure and sits far above what the city's renters report at the median, so the benchmark is a poor guide to local rents.

In Hernando County the median property tax is $1,858 at a 0.67% effective rate, and homes there are valued at $276,000 in the middle, a bit below the city's estimate. For borrowers, 3,275 loans in 2025 settled around $9,141 in costs, with the central range running from $5,565 to $12,169. A buyer here pays a small tax bill but should still budget for financing fees.

Calculate for Florida

If you buy

Florida state transfer tax

Documentary stamp tax on deeds: $0.70 per $100 of consideration, or fraction of $100 (Miami-Dade: $0.60 per $100). Change the price: the amount is recalculated instantly.

Price$396,700
State transfer tax$2,776.90
Share of the price0.7% of the price
Who paysSet by the purchase contract

Default price: the Florida median value of owner-occupied homes, $396,700 (Census ACS 2025). Rule: Divide the consideration by $100, round up to the next whole unit, multiply by $0.70. Consideration includes any mortgage balance on the property, whether or not assumed. Miami-Dade uses $0.60. Who pays: The law makes all parties liable regardless of which agrees to pay; the purchase contract allocates the cost. Not included: county and city transfer taxes, the tax on the mortgage, recording fees, title insurance and lender charges. Florida transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Florida state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Spring Hill

How much is property tax in Spring Hill?

Homeowners in Hernando County pay a median $1,858 a year in property tax, 0.67% of the county median home value of $276,000 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Spring Hill?

Home-purchase mortgages in Hernando County carried median total loan costs of $9,141 in 2025; half of the 3,275 loans fell between $5,565 and $12,169 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Spring Hill?

Florida's transfer tax is the documentary stamp tax on deeds, 70 cents per $100 of price in every county except Miami-Dade, where it is 60 cents per $100. A mortgage adds 35 cents per $100 and a 0.2% intangible tax.

Is it cheaper to rent or buy in Spring Hill?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Spring Hill ($288,500) equals 16.7 years of the median gross rent ($1,440 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Spring Hill?

Across Florida, the main hazards for home insurance are hurricane wind, flood and storm surge, and the insurer of last resort is Citizens Property Insurance Corporation. A Florida homeowners policy must offer hurricane deductibles of 2%, 5% and 10% of the dwelling limit (s. 627.701), and Citizens requires flood coverage on all its homeowners policies with wind coverage by January 1, 2027.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Florida rules that apply in Spring Hill

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Sources

Florida · All states · Federal guides