Boca Raton, Florida Housing Market Prices
Boca Raton Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 1% above the Florida median$314,088
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Median rent 48% above the Florida median$2,466
Housing Market Overview
| Metric | Boca Raton | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $314,088 | $311,338 | $248,835 |
| Price Trend (Annual %) | -5.2% | 11.2% | 7.5% |
| Median Gross Rent | $2,466 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 6.6% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Boca Raton is about 1% higher than in Florida. Rent is about 48% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Boca Raton: home prices fell about 5.2% a year while rent rose about 6.6% a year. That is an unusual pattern worth watching.
Median rent in Boca Raton rose about 71.5% between 2015 and 2024, from $1,438 to $2,466. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Boca Raton.
Buying the median-priced home in Boca Raton costs roughly 10.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Boca Raton. The price-to-rent ratio in Florida is about 15.6.
| Metric | Boca Raton | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $314,088 | $311,338 | $248,835 |
| Median Household Income | $102,309 | $74,580 | $80,455 |
| Price-to-Income Ratio | 3.1 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Boca Raton fell about 37.3%, while median household income rose about 44.1% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Boca Raton | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.2% | 57.7% | 58.5% |
| Rental Rate | 29.7% | 27.7% | 31.2% |
| Vacancy Rate | 16.1% | 14.6% | 10.2% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Boca Raton has a homeownership rate of 54.2%, lower than the Florida average of 57.7%. Its housing vacancy rate is 16.1%, compared with 14.6% in Florida.
Housing Stock
| Metric | Boca Raton | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1984 | 1988 | 1978 |
| Median Number of Rooms | 4.9 | 5.2 | 5.5 |
The typical housing unit in Boca Raton was built around 1984. On average, 2.2 people live in a home with about 4.9 rooms, staying for about 12.0 years on average.
Boca Raton, FL Housing Compared With Nearby Cities
How Boca Raton, FL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Boca Raton, FL | 103,926 | $314,088 #3/3 | $2,466 #1/3 | 64.7% #1/3 |
| Deerfield Beach, FL | 82,666 | $319,213 | $1,762 | 63.8% |
| Delray Beach, FL | 65,408 | $437,636 | $1,945 | 63.0% |
Frequently Asked Questions
Common questions about the housing market in Boca Raton, Florida.
What is the median home price in Boca Raton, Florida?
The median home price in Boca Raton, Florida is $314,088, higher than the Florida average of $311,338.
What is the average home price in Boca Raton, Florida?
The typical home price in Boca Raton, Florida, reported as the median sale price, is $314,088. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Boca Raton, Florida?
The median gross rent in Boca Raton, Florida is $2,466 per month, higher than the Florida average of $1,668.
What was the median gross rent in Boca Raton in 2020?
In 2020, the median gross rent in Boca Raton, Florida was $1,820 per month.
What is the price-to-rent ratio in Boca Raton, Florida?
The price-to-rent ratio in Boca Raton, Florida is about 10.6, meaning it would take roughly 10.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Boca Raton.
Are home prices or rent rising faster in Boca Raton, Florida?
Home prices and rent are moving in opposite directions in Boca Raton: home prices fell about 5.2% a year while rent rose about 6.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Boca Raton, Florida?
54.2% of households in Boca Raton, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Boca Raton, Florida?
The housing vacancy rate in Boca Raton, Florida is 16.1%, higher than the Florida average of 14.6%.
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