Cost of Living in Boca Raton, Florida: The 2026 Numbers
Boca Raton is in Palm Beach County, Florida (ZIP codes 33432, 33433, 33434, 33428). · Homes for sale in Boca Raton · Palm Beach County
Cost of living in Boca Raton, FL (2026): owning the median home — $655,000 over the last 12 months of sales — costs about $5,160 a month with 20% down at 6.76% (principal and interest $3,402, Palm Beach County property tax about $944, insurance about $146 at the Citizens county average, and a typical HOA of $668). For comparison, a typical rental across the same ZIP codes runs about $2,763 a month (Zillow Observed Rent Index), so buying costs roughly $2,397 more per month than renting before equity and tax treatment. Florida has no state income tax; the costs that move the most between Florida cities are the home price, property tax at your purchase price, and insurance.
Boca Raton is a luxury market and the monthly cost to own the median home shows it, but the number is inflated by the country-club and waterfront communities that dominate the closings. The other Boca, the villa and condo communities, costs a fraction of that, and it is where most relocating households actually land.
What stands out in the math is how much of Boca's monthly cost is fees and taxes rather than mortgage.
What it costs to own a home in Boca Raton, line by line
The median Boca Raton home sold for $655,000 over the last 12 months (2,201 closings across 722 communities), about $361 per square foot for a typical 1,860 sq ft. Here is what that home costs a new owner each month:
| Principal & interest (6.76%, 30-yr, 20% down) | $3,402 |
| Property tax (Palm Beach County, 18.72 mills, after $50,000 homestead) | $944 |
| Home insurance (Citizens Palm Beach County average) | $146 |
| HOA (median where one applies; 89% of listings) | $668 |
| Estimated monthly cost to own the median home | $5,160 |
Two of those lines are the ones out-of-state buyers get wrong. The property tax on a listing is the seller’s capped bill; yours resets to your purchase price at closing, so the figure above is the honest first-full-year number. And the insurance line is a county average from Citizens; a real quote on a specific roof and flood zone can be far from it in either direction.
The HOA median is high because it often bundles amenities, common-structure insurance and, in some communities, a club component. Palm Beach County's millage is also on the higher side, so the tax reset at purchase is a large number. Price both before you compare a lower-priced home with fees to a higher-priced one without.
Is it cheaper to buy or rent in Boca Raton?
For buyers weighing the move from renting: the Zillow Observed Rent Index across the ZIP codes where Boca Raton homes sell puts a typical rent at about $2,763 a month, up 3.6% over the past year. Owning the median home costs about $5,160, so the monthly gap is roughly $2,397 more to own before tax treatment, maintenance and equity. Across those ZIPs the median household income is about $93,816, and the price-to-income ratio runs about 6.2.
Boca has one of the widest rent-versus-own gaps in Florida, which is typical of a luxury market: the buyers here are not choosing between the two. For a household that is, the condo and villa communities are where owning gets competitive with renting.
What your budget buys in Boca Raton
Three price points from 2,659 recent closings, each with what actually sold within 10% of that price and what that home costs to own:
- Around $330,000: a 2-bed, 2-bath home of about 1,302 sq ft, built around 1985 — roughly $2,965/month to own (191 sales).
- Around $655,000: a 3-bed, 2-bath home of about 1,818 sq ft, built around 1985 — roughly $5,160/month to own (236 sales).
- Around $1,215,000: a 4-bed, 3-bath home of about 2,530 sq ft, built around 1986 — roughly $8,943/month to own (142 sales).
Property taxes in Boca Raton
Palm Beach County’s typical total millage is 18.72 mills, about 1.87% of taxable value. After the $50,000 homestead exemption the median home’s bill is about $11,325 a year. Once you homestead, Florida’s Save Our Homes cap limits assessment growth to 3% a year, which is why long-time owners pay far less than a new buyer in the same house. Full worksheet: Palm Beach County property tax guide.
Home insurance in Boca Raton
Citizens Property Insurance’s average premium in Palm Beach County is about $1,753 a year. Florida premiums are driven by roof age, wind-mitigation features, distance to the coast and the FEMA flood zone, which is why two houses on one street can quote thousands apart. Get a quote on the specific address before you write an offer, and order a wind-mitigation inspection on any older roof. See home insurance by county.
HOA and CDD fees in Boca Raton
89% of current Boca Raton listings carry an HOA, with a median of $668 a month where one applies. Where a community carries a CDD assessment it appears on the tax bill, not the HOA statement; ask for it on any home in a newer master-planned community. Neither is included in the monthly figure above unless the HOA line says so.
Boca Raton compared with other Florida cities
Same method, same day, for the Florida cities we track most closely: median sale over the last 12 months and the monthly cost of owning that median home, the typical rent, and the county’s Citizens average premium.
| City | Median sale | Est. monthly to own | Median rent (ZORI) | Citizens avg premium |
|---|---|---|---|---|
| Hudson | $296,000 | $2,094 | $1,824 | $1,659 |
| Jacksonville | $316,000 | $2,230 | $1,627 | $1,315 |
| Pensacola | $330,000 | $2,355 | $1,800 | $2,364 |
| Plant City | $391,000 | $2,639 | $1,783 | $1,816 |
| Dunedin | $381,000 | $2,673 | $2,060 | $1,911 |
| Kissimmee | $380,000 | $2,824 | $1,981 | $1,735 |
| St. Augustine | $420,000 | $2,829 | $2,062 | $1,378 |
| Tampa | $430,000 | $2,883 | $1,939 | $1,816 |
| Wesley Chapel | $430,000 | $2,972 | $2,270 | $1,659 |
| Orlando | $410,000 | $2,997 | $1,916 | $1,409 |
| Yulee | $456,000 | $3,000 | $2,077 | $1,159 |
| West Palm Beach | $420,000 | $3,453 | $2,241 | $1,753 |
| Fort Lauderdale | $480,000 | $4,310 | $2,697 | $1,561 |
| Boca Raton | $655,000 | $5,160 | $2,763 | $1,753 |
| Ponte Vedra Beach | $860,000 | $5,904 | $2,319 | $1,378 |
What this page does not estimate
Groceries, utilities, transportation and healthcare vary less between Florida cities than housing does and are not modeled here; national cost-of-living indices cover them reasonably well. What those indices routinely miss is Florida homeowners insurance and the property-tax reset at purchase, which is why this page is built around them.
Boca's cost of living is driven by fees, taxes and the price of the address, in that order, and the inventory currently gives buyers leverage on the third. Go in with the full carrying cost calculated, not just the mortgage.
Common questions about the cost of living in Boca Raton
How much does it cost to live in Boca Raton, Florida?
Is Boca Raton expensive to live in?
Is it cheaper to buy or rent in Boca Raton?
How much are property taxes in Boca Raton?
How much is home insurance in Boca Raton?
Does Florida have a state income tax?
<a href="https://movewithmomentum.com/cost-of-living-boca-raton">Cost of Living in Boca Raton, FL (2026): $5,160/mo to Own the Median Home — Momentum Realty</a>Home prices and HOA figures are Momentum Realty’s MLS record of Boca Raton communities as of 2026-09-12; rent, income and price-to-income are Zillow and Census figures by ZIP code pooled over the ZIPs where Boca Raton homes sell; tax and insurance are Palm Beach County figures. Estimates, not quotes. General information, not financial advice. Equal Housing Opportunity.