Boca Raton, FL—33431
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Boca Raton, FL
As of Oct '25, the median home price in Boca Raton, FL is $620,000, with a year-over-year change of -6.0%. This indicates that home prices in Boca Raton, FL are decreasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $620,000 | -6.0% |
| Single Family | $691,000 | -4.8% |
| Condos | $444,000 | -10.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $175,000 | -11.6% |
2 Bed | $439,000 | -9.7% |
3 Bed | $697,000 | -5.0% |
4 Bed | $1,042,000 | -4.1% |
| 5 Bed | $2,742,000 | -0.9% |
% of Housing Stock
Rental Trends — Boca Raton, FL
As of July '25, Rentcast reports the average rent in Boca Raton, FL is $3,960, with a year-over-year rent change of 6.2%. Per bedroom, the median rent as of July '25 in Boca Raton, FL is studios: $1,730, 1-bedrooms: $1,920, 2-bedrooms: $3,890, 3-bedrooms: $4,870, 4-bedrooms: $5,860. The most common rental property sizes in Boca Raton, FL are 2-bedroom and 3-bedroom, accounting for 39.0% and 33.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,300 | $3,960 |
| Studio Rent | $1,730 | $1,730 |
| 1 Bed Rent | $1,870 | $1,920 |
| 2 Bed Rent | $3,000 | $3,890 |
| 3 Bed Rent | $4,000 | $4,870 |
| 4 Bed Rent | $5,000 | $5,860 |
% of Rental Stock
Property Listings — Boca Raton, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Boca Raton, FL is 76. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $649,000 | -5.0% |
Listing Count | 181 | 3.0% |
| Listings as % of Homes | 1.5% | 3.0% |
Days on Market | 76 | 6.0% |
Demographics — Boca Raton, FL
As of the latest ACS Survey released in 2023, Boca Raton, FL has a population of 23,200, which has increased by 10.4% over the past 5 years. Boca Raton, FL is a moderately popular place for families, as children make up 16.4% of the population. The area has a highly educated workforce, with 57.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | 10.4% |
% Under 18 | 16.4% | 3.8% |
% Seniors | 19.6% | -5.8% |
% WFH | 15.5% | 64.9% |
% w/ College Degree | 57.8% | 8.9% |
As of the latest ACS Survey released in 2023, Boca Raton, FL is a predominantly white area, with 63.1% of the population identifying as white. The white population has shrunk by 12.7% in the last 5 years. The second most common race or ethnicity in Boca Raton, FL is hispanic, making up 15.1% of the population. Foreign-born residents account for 15.3% of the population in Boca Raton, FL, and this percentage has decreased by 32.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 63.1% | -12.7% |
% Black | 13.9% | 124.2% |
% Hispanic | 15.1% | -2.6% |
% Asian | 3.8% | 46.2% |
% Foreign Born | 15.3% | -32.9% |
Mortgage and Risk — Boca Raton, FL
According to HUD data as of 2023, there were 290 mortgage originations in Boca Raton, FL, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Boca Raton, FL. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 290 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 4.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Boca Raton, FL
As of 2024, the percent of homes in Boca Raton, FL under the Section 8 program is 0.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Boca Raton, FL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 21 |
Total Units Section 8 | 21 |
% Rentals under Section 8 | 0.8% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $460 | $1,870 | $2,330 |
| 2 Bedroom | -$220 | $3,000 | $2,780 |
| 3 Bedroom | -$370 | $4,000 | $3,630 |
| 4 Bedroom | -$660 | $5,000 | $4,340 |
Affordability — Boca Raton, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $620,000 |
| Median Household Income | $103,000 |