Rent vs buy in Palm Beach Gardens, FL
For Palm Beach Gardens, Florida, the typical rent is $2,839 /mo and the typical home price is $696,122.
Over 7 years, renting comes out ahead by $41k
The numbers here are Palm Beach Gardens's typical home value and typical rent, plus 20% down at today's mortgage rate. The break-even point arrives in year 11.
A clearly marked opinion with the math shown. These are estimates, not quotes. Adjust a number and the stamp shifts.
- Renting leads by
- $41k after 7 years
- When costs become equal
- year 11 when owning catches up
- Actual cost of home ownership
- $6,200 /mo year 1, against $2,839 rent
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Does renting or buying cost less in Palm Beach Gardens?
Across 7 years, renting costs $40,761 less after counting the money you receive when you sell. For the first 10 years, renting costs less. In year 11, buying catches up with renting.
Renting. Ownership. Net cost to date, year by year.
Average rent compared with the mortgage payment in Palm Beach Gardens
Rent and the mortgage don't tell the whole story, so here are all monthly costs in year 1, using Palm Beach Gardens's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,839 | All of it, every month |
| Mortgage payment | $3,795 | $3,345 of it is interest in year 1 |
| Property tax | $551 | 0.95% of the value a year |
| Insurance | $302 | Census median for the city |
| Upkeep | $580 | 1% of the value a year |
| Owning, cash out | $5,228 | $450 of it builds equity |
| Lost return on the down payment | $1,131 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $290 | 3.5% of the price over 7 years |
| True cost of owning | $6,200 | Cash paid, minus the equity portion, plus the two amounts listed above |
The figures behind Palm Beach Gardens's verdict
- Typical home value: Zillow ZHVI, September 2026
- $696,122
- Typical rent: Zillow ZORI, September 2026
- $2,839 /mo
- Private mortgage insurance isn't modeled by the engine. A 20% down payment avoids it.
- 20%
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey data (FRED MORTGAGE30US)
- 7.24%
- Growth in home priceshouse price index from FHFA, Florida, 1995 to 2025
- Each year: 5.4%
- Rent growth: CPI for primary residence rent, yearly growth from 2006 to 2026
- Each year: 3.5%
- What savings earn60% S&P 500 with dividends, 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- Each year: 8.3%
- Property tax: Census ACS 2020-2024, Palm Beach Gardens
- 0.95% applies to the value
- Home insurance: Census ACS 2020-2024, Palm Beach Gardens
- Monthly cost: $302
- Maintenance: Fannie Mae range of 1% to 4%, at the low end
- Each year: 1% of value
- Buying costs: Freddie Mac range of 2% to 5%, in the middle
- 3.5% of the price
- Selling expenses: agent commission and closing costs
- 6% of the price
What would reverse the Palm Beach Gardens verdict?
Every line marks the threshold where Palm Beach Gardens's 7-year verdict flips. All other factors stay as they are.
Renting is the better choice when
- Home prices rise by less than 6.1% a year; the figure used here is 5.4%, Florida's long-run pace.
- The rate on a mortgage remains over 6.20%.
- For a home like this, monthly rent is under $3,280. Here, the typical monthly rent is $2,839.
- Your move comes before year 11.
Buying is the better choice when
- Home prices grow at more than 6.1% a year.
- You secure a mortgage rate under 6.20% (right now it's 7.24%).
- The same home rented would cost more than $3,280 each month.
- You remain there for 11 years or longer.
Palm Beach Gardens compared with the other 812 cities
| Measure | Palm Beach Gardens | Median city |
|---|---|---|
| Typical home value | $696,122 | $422,451 |
| Typical rent | $2,839 /mo | $1,837 /mo |
| Price-to-rent ratio | 20.4 (#313 of 813) | 18.5 |
| Home prices, last 10 years | 6.8% a year | 6.2% a year |
| Rents, last 5 years | 4.5% a year | 4% a year |
| Property tax | 0.95% | 0.87% |
| Households that rent | 27% | 42% |
Sources: Zillow ZHVI, ZORI, Census ACS 2020-2024.
More Florida cities
- Buy. Jacksonville, FL. Buying has a $27k advantage.
- Buy. Miami, FL. Buying has a $27k advantage.
- Buy. Tampa, FL. Buying has a $19k advantage.
- Buy. Orlando, FL. Buying has a $17k advantage.
- Buy. St. Petersburg, FL. Buying has a $41k advantage.
- Buy. Port St. Lucie, FL. Buying has a $48k advantage.
- Buy. Hialeah, FL. Buying has a $37k advantage.
- Buy. Cape Coral, FL. Buying has a $36k advantage.
- In Tallahassee, buying wins by $11k. City: Tallahassee, FL. Buy.
- In Fort Lauderdale, buying wins by $25k. City: Fort Lauderdale, FL. Buy.
- In Pembroke Pines, buying wins by $22k. City: Pembroke Pines, FL. Buy.
- Buy: Hollywood, FL, where buying wins by $17k.