Research / Rent vs. buy / Florida / West Palm Beach

Rent or buy in West Palm Beach?
Renting is $664 a month cheaper.

Renting the typical home in West Palm Beach costs $664 less a month than owning it. Counting equity, price growth and what a renter could earn by investing the difference, buying comes out ahead in year 8.

Updated September 26, 2026 · Zillow data for August 2026 · 7.03% mortgage rate (Freddie Mac, September 24, 2026) · Rank 49 of 340 (1 = owning closest to renting) · Part of our 2026 rent vs. buy study

Monthly cost to own$3,041typical home, 20% down
Typical monthly rent$2,377Zillow, August 2026
Buying breaks evenYear 83.5% price growth
Cash needed to buy$92,988$404,294 home · 20% down + 3% closing
Income needed to own$121,639vs. $95,080 to rent · 30% rule

Where the monthly money goes.

The first-month cost of owning the typical West Palm Beach home, split into its parts, against the typical rent. About $264 of the first mortgage payment is principal, which you keep as equity.

The median household income in West Palm Beach is $73,446 (Census ACS 2020–2024). Owning the typical home would take 50% of it; renting would take 39%.

As a check with a larger rental, HUD's FY2027 Fair Market Rent for a three-bedroom home in the West Palm Beach-Boca Raton, FL HUD Metro FMR Area area is $3,052 a month, $11 above the cost of owning.

  • Mortgage principal & interest $2,158
  • Property tax $314
  • Home insurance $232
  • Maintenance $337

How long you would need to stay.

Net worth of a buyer compared with a renter who invests the down payment, closing costs and any monthly savings at 6% a year. Home values and rents grow 3.5% a year; selling costs 6%.

Change the assumptions

Buying vs. renting in West Palm Beach, by years in the home
StayResult
3 yearsRenting ahead by $26,781
5 yearsRenting ahead by $17,444
7 yearsRenting ahead by $5,273
10 yearsBuying ahead by $19,383
15 yearsBuying ahead by $82,654
20 yearsBuying ahead by $184,444
30 yearsBuying ahead by $578,209

Rent or buy elsewhere in Florida.

Other large Florida cities in the study.

All cities
JacksonvilleRenting $566/mo cheaperMiamiRenting $1,237/mo cheaperTampaRenting $849/mo cheaperOrlandoRenting $878/mo cheaperSt. PetersburgRenting $555/mo cheaperPort St. LucieRenting $520/mo cheaperHialeahRenting $818/mo cheaperCape CoralRenting $593/mo cheaper

More on West Palm Beach

See the full West Palm Beach rental market profile with Census medians, or check how a typical rental performs for an investor in our cash-flow ranking.

How we calculated this

Price is the Zillow Home Value Index and rent the Zillow Observed Rent Index for West Palm Beach. The cost of owning includes principal and interest at 7.03% with 20% down, property tax at the city's 0.93% effective rate (Census ACS), the Florida average homeowners premium (NAIC 2023) and 1% yearly maintenance. It leaves out income-tax effects, HOA dues and utilities. The typical rental may be smaller than the typical home for sale. Full methodology. This is a citywide estimate, not advice about a specific home.