Rent vs Buy in West Palm Beach, FL
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in West Palm Beach, FL
Price-to-rent ratio is 15.4 (under 15 favors buying, over 21 favors renting). Renting costs $2,187/mo; owning runs about $3,023/mo — $836/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,145 |
| Property tax | $371 |
| Home insurance | $169 |
| Maintenance | $338 |
| Total to own | $3,023 |
| Average 2BR rent | $2,187 |
Based on a median home value of $405,069 with a $81,014 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.