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

Buying a home in West Palm Beach, Florida

In West Palm Beach, the median value of owner-occupied homes is $414,200, 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

West Palm Beach home costs, fact by fact

About West Palm Beach

The effective property tax rate (median tax as a share of home value) in Palm Beach County is 0.86%, and HUD's Fair Market Rent for a two-bedroom in the county is $2,349. West Palm Beach lies in the Miami-Fort Lauderdale-West Palm Beach, FL metro area, and 50.5% of its homes are owner-occupied.

Reading the West Palm Beach figures

West Palm Beach's $414,200 is above Florida's $396,700 and just above Hollywood's $410,600, yet below Tampa's $420,400. Miami, at $518,100, is far higher, and Orlando, at $394,100, is a little lower. Rent of $1,772 falls between Miami's $1,758 and Miami Gardens' $1,787. Plantation, at $2,240, is far higher. The owner share of 50.5% is level with Tampa's 50.3% and below Fort Lauderdale's 54.1%, so renters and owners are balanced; Hialeah's 46.6% shows the lower end of the group of cities listed here.

The HUD benchmark covering West Palm Beach and Boca Raton stands at $2,349, well above the city's median rent, which leaves the federal figure a weak guide to what tenants pay here.

Palm Beach County's median home is valued at $447,300, higher than the city's own estimate, so the county tax figure may overstate what a typical city home would carry. Owners there pay a median of $3,858 under a 0.86% effective rate. Across 12,187 loans in 2025, the usual cost was $9,363 and the central borrowers paid between $6,099 and $14,608.

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 West Palm Beach

How much is property tax in West Palm Beach?

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 West Palm Beach?

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 West Palm Beach?

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 West Palm Beach?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in West Palm Beach ($414,200) equals 19.5 years of the median gross rent ($1,772 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in West Palm Beach?

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 West Palm Beach

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Sources

Florida · All states · Federal guides