Rent vs buy in Boca Raton, FL

A typical home in Boca Raton, Florida is $580,267, and a typical rent runs $2,967 /mo.

Buy

Over 7 years, buying comes out $20k ahead

With today's mortgage rate and 20% down, the calculation uses Boca Raton's typical local rent and home value. You reach the break-even point in year 6.

An opinion, clearly labelled, with the math shown. These are estimates, not quotes. Adjust any figure and the stamp updates.

Owning is ahead by: $20k
Break even point: the 6th year
What owning really costs: $5,207 each month

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The stamp relies on Boca Raton's typical rent and typical home value. The result can flip with your rent, price and years.

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Enter your own figures for rent, price and down payment. The stamp shifts as those figures change.

In Boca Raton, is renting or buying cheaper?

Counting the money you get back when you sell, buying is $19,591 cheaper over 7 years. In year 6, owning's net cost falls below renting's and stays lower.

Renting. Cost of owning Net cost up to now, year by year.

Boca Raton: average rent compared with the mortgage payment

Rent and mortgage payments don't show the full picture. At Boca Raton's typical price, these are all monthly costs in year 1.

Each month, year 1	Amount	What it is
Rent	$2,967	All of it, every month
Mortgage payment	$3,164	$2,788 of it is interest in year 1
Property tax	$406	0.84% of the value a year
Insurance	$344	Census median for the city
Upkeep	$484	1% of the value a year
Owning, cash out	$4,397	$375 of it builds equity
Lost return on the down payment	$943	Return on the cash at 8.3% a year
Buying costs, spread out	$242	3.5% of the price over 7 years
True cost of owning	$5,207	Cash out, minus the equity share, plus the two lines listed above

The figures that support the Boca Raton verdict

Typical home valueZillow ZHVI, September 2026: $580,267
Typical rentZillow ZORI, September 2026: $2,967 /mo
Down payment20% avoids private mortgage insurance, which the engine does not model: 20%
Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Home price growthFHFA house price index, Florida, 1995 to 2025: 5.4% a year
Rent growthCPI rent of primary residence, yearly growth 2006 to 2026: 3.5% a year
Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025: 8.3% a year
Property taxCensus ACS 2020-2024, Boca Raton: 0.84% of value
Home insuranceCensus ACS 2020-2024, Boca Raton: $344 /mo
MaintenanceFannie Mae, low end of 1% to 4%: 1% of value a year
Buying costsFreddie Mac, middle of 2% to 5%: 3.5% of price
Selling costsAgent commission plus closing costs: 6% of price

In Boca Raton, what would flip the result?

With everything else unchanged, each line shows where the 7-year Boca Raton verdict switches.

When renting comes out ahead

Home prices rise by less than 5.0% a year; our 5.4% assumption comes from Florida's rate over the long run.
The mortgage rate remains above 7.84%.
Monthly rent for a home like this comes to under $2,760 (typical here: $2,967).
You move before the 6th year.

When buying comes out ahead

Home prices grow by more than 5.0% a year.
Today's mortgage rate is 7.24%; the rate you lock is below 7.84%.
Rent on that same home runs above $2,760 a month.
You remain in the home for 6 years or longer.

Boca Raton compared with the other 812 cities

Measure	Boca Raton	Median city
Typical home value	$580,267	$422,451
Typical rent	$2,967 /mo	$1,837 /mo
Price-to-rent ratio	16.3 (#534 of 813)	18.5
Home prices, last 10 years	6.6% a year	6.2% a year
Rents, last 5 years	3.5% a year	4% a year
Property tax	0.84%	0.87%
Households that rent	34%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

More cities in Florida

The choice is to buy. Jacksonville FL. You'd come out $27k ahead.
Go with buying in Fort Lauderdale, FL. That puts you $25k ahead.
Go with buying in Pembroke Pines, FL. That puts you $22k ahead.

Florida rent vs buy: the state's numbers