Quick facts: Boca raton, FL

Quick Facts

107.5
Cost of Living
above US average
99,009
Population
22.24
Crime Rate per 1000
below US average
$95,570
Median Income
above US average
$800,000
Median House Price
above US average
$3561.62
Average Rent
above US average
6%
Poverty Rate
below US average
3.4%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $95,570.

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Income Needed to Buy

βœ— Stretch
$251k/year
Based on $800,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $251k vs median $95,570
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Income Needed to Rent

⚠ Stretch
$153k/year
Based on $3561.62/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $153k vs median $95,570
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Boca raton, FL

Boca Raton, located in Palm Beach County, Florida, is a vibrant coastal city renowned for its upscale living, beautiful beaches, and rich cultural scene. With a population of around 100,000, it offers a unique blend of suburban tranquility and urban amenities. Boca Raton boasts a warm climate, with sunny days year-round, making it a popular destination for both tourists and residents. The city is known for its luxurious shopping districts, such as Mizner Park and Royal Palm Place, featuring high-end boutiques, restaurants, and entertainment options. Boca Raton is also home to several stunning golf courses and parks, providing ample opportunities for outdoor activities. The city's beaches, including South Beach Park and Spanish River Park, are clean and well-maintained, attracting sunbathers and water sports enthusiasts alike. Culturally, Boca Raton offers various art venues, such as the Boca Raton Museum of Art and the Mizner Park Amphitheater. The city is also recognized for its commitment to education, hosting several top-rated schools and institutions, including Florida Atlantic University. Overall, Boca Raton is a thriving community that combines luxury, culture, and nature.

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