Boca Raton, FL

Very High · 178

Florida · Population 98,833 · Updated March 2026

$2,334
Median Rent / Month
$102,722
Median Income
$660,100
Median Home Value
$2,230
Owner Costs / Month

Affordability

How far your income goes in Boca Raton

27.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$28,008
Annual Rent
$0
State Income Tax
$5,677
Property Tax (est.)

Cost of Living Overview

Boca Raton has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 178 (where 100 equals the national median), Boca Raton residents can expect to pay median rent of $2,334/month while earning a median household income of $102,722/year.

The median home value in Boca Raton, FL is $660,100, with typical monthly owner costs around $2,230 including mortgage, insurance, and taxes. With a rent-to-income ratio of 27.3%, Boca Raton falls within the generally affordable range, though it's approaching the 30% burden threshold.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Boca Raton.

Frequently Asked Questions

Common questions about living costs in Boca Raton

What is the cost of living in Boca Raton, FL?
The cost of living index in Boca Raton, FL is 178 (US average = 100). Median monthly rent is $2,334, median household income is $102,722/year, and the median home value is $660,100.
Is Boca Raton, FL affordable?
No, Boca Raton is more expensive than the national average with a cost index of 178. The rent-to-income ratio is 27.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Boca Raton, FL?
The median gross rent in Boca Raton, FL is $2,334 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $28,008.
What is the median household income in Boca Raton?
The median household income in Boca Raton, FL is $102,722 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.