Rent vs Buy in West Palm Beach, FL
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in West Palm Beach, FL
Price-to-rent ratio is 14.4 (under 15 favors buying, over 21 favors renting). Renting costs $2,349/mo; owning runs about $3,070/mo — $721/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $2,193 |
| Property tax | $371 |
| Home insurance | $169 |
| Maintenance | $337 |
| Total to own | $3,070 |
| Average 2BR rent | $2,349 |
Based on a median home value of $404,711 with a $80,942 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.