Boca Raton at a glance
Fair-market rents by ZIP (HUD FY2026)
HUD's Small Area Fair Market Rents set a government benchmark for rents by ZIP and bedroom count. They're a useful floor for underwriting, though actual market rents vary by condition and building. (For a calibrated, property-specific estimate from real closed leases, that's what ReSharpe does inside the app.)
| ZIP | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| 33428 | $2,240 | $2,380 | $2,820 | $3,650 | $4,240 |
| 33431 | $2,280 | $2,420 | $2,870 | $3,720 | $4,310 |
| 33432 | $2,420 | $2,570 | $3,050 | $3,950 | $4,580 |
| 33433 | $2,420 | $2,570 | $3,050 | $3,950 | $4,580 |
| 33434 | $1,510 | $1,610 | $1,910 | $2,470 | $2,870 |
| 33486 | $2,260 | $2,400 | $2,850 | $3,690 | $4,280 |
| 33487 | $2,280 | $2,420 | $2,870 | $3,720 | $4,310 |
| 33496 | $2,550 | $2,710 | $3,210 | $4,160 | $4,830 |
Home-price appreciation (FHFA)
The FHFA House Price Index for the West Palm Beach–Boca Raton–Delray Beach, FL (FHFA metro division) shows how Palm Beach County prices have moved — including through the cycle, which is the part most “appreciation” claims skip:
- +71.6%5-year (11.4%/yr)
- +142.4%10-year (9.3%/yr)
- +89.5%20-year (3.2%/yr)
For context, the same index fell about 49.4% from its 2006 peak to its post-crisis trough around 2012, and now sits roughly 87.2% above that prior peak. Prices here are cyclical — underwrite on current cash flow, not on a straight line.
Investing in Boca Raton: what to know
The condo and country-club stock is large and aging, which means HOA budgets, reserves and the post-Surfside structural rules carry real weight here — a clean unit can still hide a five-figure assessment.
Investors skew toward higher-ticket condos and single-family in gated communities; tenant demand is strong and credit-worthy, but entry prices and HOA dues are among the highest in the county.
Read the condo documents before anything else: in older Boca buildings, the milestone inspection and SIRS status often decide the deal more than the cap rate does.
None of the above uses MLS listing data — it's government benchmarks plus general market knowledge. To analyze actual Boca Raton listings with calibrated rent, valuation and condo-document review, that happens inside ReSharpe (for licensed agents), with the approach explained on the methodology page.
Data sources: HUD Small Area Fair Market Rents FY2026 (2026-06-11) · HUD User · FHFA All-Transactions House Price Index via FRED (St. Louis Fed) (2026-06-11) · FHFA HPI.
Frequently asked questions
- What is the average rent in Boca Raton, FL?
- By HUD's FY2026 Small Area Fair Market Rents, a 2-bedroom in Boca Raton runs about $1,910–$3,210 per month depending on ZIP code (median around $2,870). HUD fair-market rents are a government benchmark, not live MLS lease data.
- Is Boca Raton a good place to invest in rental property?
- Investors skew toward higher-ticket condos and single-family in gated communities; tenant demand is strong and credit-worthy, but entry prices and HOA dues are among the highest in the county. Home prices across the Palm Beach County metro have risen about 142.4% over the last 10 years per the FHFA index, so underwriting on real, current rents and expenses matters more than chasing past appreciation.
- How much have Boca Raton home values appreciated?
- For the West Palm Beach–Boca Raton–Delray Beach, FL (FHFA metro division), the FHFA House Price Index is up roughly 71.6% over 5 years, 142.4% over 10 years and 89.5% over 20 years — and it fell about 49.4% from its 2006 peak to its post-crisis trough, a reminder that prices are cyclical.
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