is FHA Loan worth it in a expensive area ( Long island New York )

[Ryan Cunningham]

I live in Long island New york and i plan on house hacking my first home. The area im looking at has homes in the $300,000 range

I used an FHA Loan calculator and the PMI comes out to $288 a month

That seems a little ridiculous, should i keep saving until i have enough money for a 20% down payment? That could take me another 3 years though :(