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

Buying a home in Plantation, Florida

In Plantation, the median value of owner-occupied homes is $483,500, Broward County's effective property tax rate is 0.94%, a purchase mortgage carried a median $10,865 in total loan costs in 2025, and median gross rent is $2,240 a month.

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

Plantation home costs, fact by fact

About Plantation

Plantation, with 100,694 residents, lies in the Miami-Fort Lauderdale-West Palm Beach, FL metro area, the 6th largest in the country. Median gross rent is $2,240 per month, and 64.3% of homes are owner-occupied. HUD's Fair Market Rent for a two-bedroom in Broward County is $2,321.

Reading the Plantation figures

Plantation's owners estimate $483,500, above Florida's $396,700 and close to Fort Lauderdale's $486,700. Boca Raton, at $722,700, is far higher, while Pembroke Pines, at $439,500, is lower. Rent is where Plantation stands out: $2,240 is above Miramar's $2,117 and well above Fort Lauderdale's $1,854; only Boca Raton's $2,508 is higher among the cities named here. Coral Springs shows $2,084 in rent and $545,400 in value, so Plantation costs more to rent and less to buy than that city.

Ownership is moderate. With 64.3% of households owning, Plantation sits just under Boca Raton (65.7%) and above Coral Springs (60.3%). Miami, where 30.8% own, marks the opposite end of the comparison.

HUD sets its rent benchmark for this part of Broward County at $2,321, higher than the city's median rent. Owners pay a median of $3,890 in property tax under a 0.94% rate, while the county's median home is worth $414,600. The 2025 lending data list 13,372 loans, with a typical cost of $10,865 and a central range from $6,727 to $16,817, so closing costs deserve a line of their own in any budget.

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 Plantation

How much is property tax in Plantation?

Homeowners in Broward County pay a median $3,890 a year in property tax, 0.94% of the county median home value of $414,600 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Plantation?

Home-purchase mortgages in Broward County carried median total loan costs of $10,865 in 2025; half of the 13,372 loans fell between $6,727 and $16,817 (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 Plantation?

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 Plantation?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Plantation ($483,500) equals 18 years of the median gross rent ($2,240 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Plantation?

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 Plantation

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Sources

Florida · All states · Federal guides