Boca Raton, Florida Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Boca Raton, Florida rental market.
Boca Raton, Florida
Average Apartment Rent
$2,822
Y-o-Y Change in Average
Apartment Rent
-2.4%
As of November 2024
Compared to a year ago, Boca Raton, Florida apartments have recorded a -2.4% rent decrease.
Boca Raton, Florida Average apartment rent trend
Boca Raton, Florida Average Apartment Rent
Boca Raton, Florida Apartment rent ranges
At 84.48%, apartments priced Over $2,000 represent the bulk of Boca Raton, Florida rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 0.17%.
Boca Raton, Florida Housing tenure**
Renters take up 34% of Boca Raton, Florida real estate, occupying a total of 14,263 units, while homeowners live in 27,267 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$64,084
Average household size of renter-occupied housing units**
2.1
Rental vacancy rate**
8.8%
Boca Raton, Florida Renter-occupied housing units by no. of bedrooms**
There are 6,709 rentals in Boca Raton, Florida with 2 beds making up the highest share of the market, at 47%. Units with 4 beds, on the other hand, hold the lowest percentage (2%), amounting to 310 units. Overall, the median number of rooms in Boca Raton, Florida homes for rent is 3.9.
Boca Raton, Florida Renter-occupied units by age of householder**
Most condos for rent in Boca Raton, Florida are occupied by residents in the 35 - 44 years age group (19%), followed by those in the 45 - 54 years age group (18%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 7%.
Boca Raton, Florida Renter-occupied housing units by family type**
Boca Raton, Florida Renter-occupied housing units by the presence of own children**
A total of 5,826 apartments for rent in Boca Raton, Florida, or 41% of all rentals are family households. Additionally, 23% of rental homes include children under the age of 18 – that’s 3,326 units. All in all, the median size of a renter-occupied household in Boca Raton, Florida is 2.1.
Boca Raton, Florida Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 58% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Boca Raton, Florida.
Boca Raton, Florida Renter-occupied units by year structure built**
The highest share of Boca Raton, Florida apartment rentals, namely 23% or 3,311 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (22%, 3,131 units), and the ones Built 2010 - 2019 (18%, 2,511 units).
Boca Raton, Florida Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Boca Raton, Florida renters (43%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Boca Raton, Florida condos for rent is 2018.
Boca Raton, Florida Renter-occupied housing units by vehicles available**
When it comes to transportation options, 55% of Boca Raton, Florida renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 11% have No vehicle available.
Boca Raton, Florida Means of transportation to work of householders living in renter-occupied housing units**
Boca Raton, Florida Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Boca Raton, Florida apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
