St. Augustine and St. Johns County have innkeepers, tour operators, restaurateurs, contractors and golf and sports professionals. Bank statement programs can document that income from 12 or 24 months of deposits, where the program allows.
History, beaches and golf
St. Augustine draws visitors to its historic district, Flagler College and the beaches on Anastasia Island, supporting inns, tour owners, restaurants, galleries and rental managers. St. Johns County also tallies Ponte Vedra Beach, where the PGA Tour is headquartered, and sizable golf communities. Nocatee and World Golf Village have added new subdivisions and shops.
Neighborhoods
The historic district has older residences with strict design rules, Anastasia Island has beach cottages and condos, and Davis Shores sits low around the water. Ponte Vedra Beach has big homes and golf courses, and Nocatee and Julington Creek have master-planned communities. Many new subdivisions have community development district charges.
Historic rules and flooding
Properties in the historic district are subject to look at for exterior changes, which can affect renovations. The St. Augustine area has seen flooding from hurricanes and nor'easters, and flood insurance is typically required in designated zones. A lender will want a flood determination and insurance quotes right away.
Tourism-driven business owners
A tour operator, an innkeeper or a gallery owner has seasonal patterns tied to the visitor calendar. A reviewer averages 24 months to cover two cycles, groups deposits by source and ties big amounts to bookings or invoices. A short summary of the season and a letter from a tax professional help a file move quickly.
Self-employment by the numbers
Counting both kinds of business owner, roughly 1,272 of the 7,567 employed residents of the city of St. Augustine are self-employed, or 16.8 percent. The share is considerably above the 13.0 percent statewide share in Florida. Unincorporated proprietors, such as sole owners and independent contractors, make up 9.7 percent of workers, and incorporated owners make up 7.1 percent. The split counts to a lender, because an incorporated owner is often paid through the company and an unincorporated one deposits business income directly into a personal or business account.
The industries with the most self-employed residents are professional and business services (338 people), finance, insurance and real estate (290 people), and construction (191 people). The highest concentration is in finance, insurance and real estate, where 41 percent of workers are self-employed. Since their expenses are often small, professionals can find that paperwork of actual expenses beats a default factor, where the program allows it. Real estate and insurance professionals usually have strong months and weak months, and a 24 month period can balance them.
The county's employer mix
Payroll data for St. Johns County explain 10,939 private establishments and around 86,948 jobs. Pay averaged $60,085 a year, about the national average. Private employment grew by 2.9 percent across the year. Accommodation and food services (16,709 jobs, 19.2 percent), retail trade (14,054 jobs, 16.2 percent), and health care and social assistance (12,082 jobs, 13.9 percent) lead the payroll count.
Relative to the U.S., arts, entertainment and recreation (location quotient 2.01) and accommodation and food services (location quotient 1.86) employ more people than you would expect, since a quotient of 1.0 is the national norm. Hospitality and arts businesses depend on seasons, events and weather, so a loan analyst averages the full window and may ask about lean months. Pay is highest among the higher sectors in finance and insurance, averaging around $134,616.
Homes, values and ownership
Census data put the median home value in the city of St. Augustine near $440,000, approximately 23 percent above the Florida median of $359,000. Owners live in 63 percent of occupied houses and renters in the rest. Renters pay a median of approximately $1,653 a month in gross rent, a figure many self-employed purchasers compare with owning.
The median year built is 1980. A housing stock of this age usually carries roof, system and drainage items that sit inside an inspection or appraisal. About 15.1 percent of all housing units are held for seasonal, recreational or occasional use. A meaningful share of homes are used only part of the year, so many sales involve second homes, short term rentals or investors. Detached single family houses make up 56 percent of housing units, with 18 percent in buildings of ten or more units. Most homes are single family residences on their own lots, which keeps the process straightforward for self-employed purchasers who want space for a home office or a work vehicle. Owners with a mortgage report median real estate taxes of roughly $2,822 a year, a number that is counted in the monthly obligation a mortgage lender examines.
The home office factor
About 17.6 percent of workers in the city of St. Augustine work from home, above the 15.7 percent statewide number. A high or low home-office share changes what buyers want from a house, from a quiet room to a garage for equipment. Residents are 50 years old at the median, and 45 percent of those aged 25 and older hold a four year degree. Households earn a median of roughly $78,000.
Institutions and anchors near St. Augustine
Colleges and universities in or close to the area include Flagler College. Large institutions and landmarks include Castillo de San Marcos. Self-employed professionals generally serve these institutions as vendors, contractors and consultants.
How St. Augustine compares
Measured by self-employment share, St. Augustine places 4th among the 22 Florida areas covered here. Its median home value ranks 6th among them.
Putting it together for St. Augustine borrowers
One in every 6 or so workers here owns a business, which means statement based files are not a rarity in St. Augustine. Lenders see a lot of professional and business services applicants in this market, and the files move faster with invoices and engagement letters attached. Visitor driven income peaks and dips, which is a reason to consider the longer 24 month period. Residences here run above the Florida median, so higher loan amounts are common, and a lender will look carefully at assets and reserves as well as income.
St. Augustine at a glance
| Measure | St. Augustine | Florida |
|---|---|---|
| Employed residents | 7,567 | 10,484,998 |
| Self-employed share of workers | 16.8 percent | 13.0 percent |
| Unincorporated owners | 9.7 percent | 6.7 percent |
| Incorporated owners | 7.1 percent | 6.4 percent |
| Median home value | $440,000 | $359,000 |
| Owner-occupied homes | 63 percent | 68 percent |
| Median gross rent | $1,653 | $1,669 |
| Median year built | 1980 | 1988 |
| Workers who work at home | 17.6 percent | 15.7 percent |
| Median household income | $78,000 | $75,000 |
Self-employed residents of St. Augustine by industry
| Industry | All workers | Self-employed | Self-employed share |
|---|---|---|---|
| Professional, management and administrative services | 952 | 338 | 35.5 percent |
| Finance, insurance and real estate | 703 | 290 | 41.3 percent |
| Construction | 483 | 191 | 39.5 percent |
| Retail trade | 1,380 | 155 | 11.2 percent |
| Other services | 420 | 121 | 28.8 percent |
| Education, health care and social assistance | 1,406 | 86 | 6.1 percent |
| Arts, entertainment, lodging and food service | 1,049 | 78 | 7.4 percent |
Largest private sectors in St. Johns County
| Sector | Jobs | Share of private jobs | Average annual pay | Location quotient |
|---|---|---|---|---|
| Accommodation and food services | 16,709 | 19.2 percent | $30,165 | 1.86 |
| Retail trade | 14,054 | 16.2 percent | $38,948 | 1.42 |
| Health care and social assistance | 12,082 | 13.9 percent | $58,772 | 0.85 |
| Professional, scientific and technical services | 6,096 | 7.0 percent | $93,679 | 0.89 |
| Construction | 6,076 | 7.0 percent | $72,631 | 1.17 |
| Administrative and support services | 4,858 | 5.6 percent | $49,346 | 0.84 |
| Other services | 4,705 | 5.4 percent | $74,421 | 1.58 |
These figures come from the Census Bureau's American Community Survey and BLS payroll records, explained on our data sources page.
Wherever you land in St. Augustine, the underwriting steps match the rest of Florida. If you want the checklist version, start with what you need to prove.
This page is general information, not an offer. Lenders verify income and ability to repay, and program availability depends on the borrower and the property.
Nearby
Buying or refinancing around St. Augustine?
Apply online or call and tell us about the property.
Frequently asked questions
Does historic-district status affect my loan?
It does not change how your income is documented, but it can affect renovation plans and the appraisal.
Is flood insurance required?
In designated flood zones it generally is, and the cost includes toward the monthly obligation.
Do many people in St. Augustine work for themselves?
About 16.8 percent of employed residents of the city of St. Augustine work for themselves, against 13.0 percent for Florida as a whole (American Community Survey, 2020 to 2024).
What do most self-employed people in St. Augustine do for a living?
By headcount, the largest groups work in professional and business services and finance, insurance and real estate, with 338 and 290 people respectively. Applicants in any industry can ask whether a bank statement program fits.
Is a bank statement loan distinct on a St. Augustine property?
Not for the income part. The property side does vary: a median value close to $440,000, a median year built of 1980 and 63 percent homeownership all point to what an appraiser and lender will review.