Florida · Miami-Fort Lauderdale-West Palm Beach, FL metro area

Buying a home in Boca Raton, Florida

In Boca Raton, the median value of owner-occupied homes is $722,700, Palm Beach County's effective property tax rate is 0.86%, and a purchase mortgage carried a median $9,363 in total loan costs in 2025.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Boca Raton home costs, fact by fact

About Boca Raton

Boca Raton lies in the Miami-Fort Lauderdale-West Palm Beach, FL metro area, the 6th largest in the nation, and has 102,238 residents. Median gross rent is $2,508 per month. Palm Beach County's effective property tax rate (median tax as a share of home value) is 0.86%, and 65.7% of homes are owner-occupied.

Reading the Boca Raton figures

Boca Raton reads far above the rest of Florida: owners put their homes at $722,700, while the state figure is $396,700. Coral Springs comes next in this comparison with $545,400. Miami follows with $518,100, and Fort Lauderdale with $486,700. Ownership is 65.7% of homes, which is well above Miami (30.8%) and Fort Lauderdale (54.1%), though a little under Pembroke Pines (69.6%).

Renters face a median of $2,508 a month, the highest figure in the comparison shown here. Plantation lists $2,240, while Coral Springs shows $2,084 and Miami only $1,758, a reminder of how much Boca Raton's rents stand apart. For the West Palm Beach-Boca Raton zone, HUD lists $2,349, just under that city median, and the larger-unit benchmark is $3,052.

Palm Beach County collects $3,858 a year, a 0.86% rate, in a county whose median home is $447,300, far below the city's own estimate. In 2025, 12,187 loans carried a median cost of $9,363, with the central band running from $6,099 to $14,608. The metro area ranks 6th nationally, which is why the numbers are worth comparing carefully before choosing a lender, and why a buyer may want several quotes.

Calculate for Florida

If you buy

Florida state transfer tax

Documentary stamp tax on deeds: $0.70 per $100 of consideration, or fraction of $100 (Miami-Dade: $0.60 per $100). Change the price: the amount is recalculated instantly.

Price$396,700
State transfer tax$2,776.90
Share of the price0.7% of the price
Who paysSet by the purchase contract

Default price: the Florida median value of owner-occupied homes, $396,700 (Census ACS 2025). Rule: Divide the consideration by $100, round up to the next whole unit, multiply by $0.70. Consideration includes any mortgage balance on the property, whether or not assumed. Miami-Dade uses $0.60. Who pays: The law makes all parties liable regardless of which agrees to pay; the purchase contract allocates the cost. Not included: county and city transfer taxes, the tax on the mortgage, recording fees, title insurance and lender charges. Florida transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Florida state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Boca Raton

How much is property tax in Boca Raton?

Homeowners in Palm Beach County pay a median $3,858 a year in property tax, 0.86% of the county median home value of $447,300 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Boca Raton?

Home-purchase mortgages in Palm Beach County carried median total loan costs of $9,363 in 2025; half of the 12,187 loans fell between $6,099 and $14,608 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Boca Raton?

Florida's transfer tax is the documentary stamp tax on deeds, 70 cents per $100 of price in every county except Miami-Dade, where it is 60 cents per $100. A mortgage adds 35 cents per $100 and a 0.2% intangible tax.

Is it cheaper to rent or buy in Boca Raton?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Boca Raton ($722,700) equals 24 years of the median gross rent ($2,508 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Boca Raton?

Across Florida, the main hazards for home insurance are hurricane wind, flood and storm surge, and the insurer of last resort is Citizens Property Insurance Corporation. A Florida homeowners policy must offer hurricane deductibles of 2%, 5% and 10% of the dwelling limit (s. 627.701), and Citizens requires flood coverage on all its homeowners policies with wind coverage by January 1, 2027.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Florida rules that apply in Boca Raton

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Sources

Florida · All states · Federal guides