Royal Palm Beach, FL

Very High · 137

Florida · Population 39,089 · Updated March 2026

$2,192
Median Rent / Month
$92,382
Median Income
$389,300
Median Home Value
$1,824
Owner Costs / Month

Affordability

How far your income goes in Royal Palm Beach

28.5%
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

$26,304
Annual Rent
$0
State Income Tax
$3,348
Property Tax (est.)

Cost of Living Overview

Royal Palm Beach has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 137 (where 100 equals the national median), Royal Palm Beach residents can expect to pay median rent of $2,192/month while earning a median household income of $92,382/year.

The median home value in Royal Palm Beach, FL is $389,300, with typical monthly owner costs around $1,824 including mortgage, insurance, and taxes. With a rent-to-income ratio of 28.5%, Royal Palm Beach 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 Royal Palm Beach.

Frequently Asked Questions

Common questions about living costs in Royal Palm Beach

What is the cost of living in Royal Palm Beach, FL?
The cost of living index in Royal Palm Beach, FL is 137 (US average = 100). Median monthly rent is $2,192, median household income is $92,382/year, and the median home value is $389,300.
Is Royal Palm Beach, FL affordable?
No, Royal Palm Beach is more expensive than the national average with a cost index of 137. The rent-to-income ratio is 28.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Royal Palm Beach, FL?
The median gross rent in Royal Palm Beach, FL is $2,192 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $26,304.
What is the median household income in Royal Palm Beach?
The median household income in Royal Palm Beach, FL is $92,382 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.