Boca Raton, FL Homes For Sale - Florida Real Estate | BEX Realty (2024)

FAQs

Why are houses so cheap in Boca Raton? ›

Boca Raton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

High Cost of Living

The cost of living in Boca Raton is about 30% higher than the national average. While the area offers many luxury amenities and services, these come with a steep price tag.

Boca Raton is one of the county's wealthiest cities, with an average household income of $88,820 and rising. According to Forbes Magazine, Boca Raton has three of the 10 most expensive gated communities in the U.S.

The least expensive city was Hollywood with a score of 61.29 followed by Fort Myers in second (60.19), Boca Raton third (59.76), Bradenton fourth (69.64), Melbourne fifth (58.72), Delray Beach sixth (57.59), West Palm Beach seventh (57.31), Boynton Beach eighth (57.26), Deerfield Beach ninth (56.32).

The Sunshine State is home to nine of the 15 most overvalued markets in the United States, led by Tampa, Jacksonville, Orlando, and Miami. Currently, buyers are paying an almost 39% premium for the typical home in Miami, placing the area as the 11th most overvalued area in the entire country.

Boca Raton is a homestead for the rich and famous. Just a couple of major names that have or had homes in Boca include John Henry, who owns the Red Sox, Donald Trump, Sheryl Sandberg, Rush Limbaugh, Jon Bon Jovi, Marilyn Manson, Maury Povich and Connie Chung. 13.

For senior living, Boca Raton is a highly sought-after retirement-friendly community of over 83,000. One of the main concerns of retirement-age adults in general is isolation, as it can be hard to connect with people of the same age without the regular social interactions of work or school.

Boca Raton is a vibrant South Florida city renowned for its luxury real estate and resort-style living.

Boca Raton Demographics

White: 78.76% Two or more races: 8.39% Black or African American: 6.2%

Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $458,600, a good salary in Boca Raton would be $91,720. Lastly, we can determine a good salary in Boca Raton by looking at the cost of living and comparing it to the US average salary.

Why is Boca Raton so famous? ›

Boca Raton, the second largest city in the Palm Beaches, is a community where history and innovation come together. Influenced by the notable architect, Addison Mizner, Boca Raton was built around an elegant Mediterranean Revival style that later grew into a vibrant city full of rich art and culture.

Boca Raton is one of the wealthiest towns in Florida.

In shear numbers, West Palm Beach and Palm Beach have 10,200 millionaires, 69 centi-millionaires (people with $100 million-plus) and nine billionaires. Countywide, Smallridge estimates there are 47 billionaires.

"There were 58 units sold for $1 or under $5,000. That's been since 2011," said Maschler. Maschler said the reason properties are selling so cheap is because sellers are just looking to get rid of them. Also, when buying into Boca West, the country club has a $70,000 membership fee and annual fees.

Sale-to-list price ratio: 92.32% Boca Raton, FL is a buyer's market in June 2024, which means that the supply of homes is greater than the demand for homes.

The Boca Raton housing market exhibits strong performance with consistent growth in property values, making it an attractive spot for investment opportunities in real estate.

The median rent in Boca Raton fell by 0.1% over the course of July, and has now decreased by a total of 0.2% over the past 12 months. Boca Raton's rent growth over the past year has has outpaced the state average (-2.3%) and is similar to the national average (-0.8%).