Total monthly cost of ownership
Cost to Own a Home in Delray Beach, Florida
A $387,000 home here costs
$3,010per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,990. The real number is $1,021 higher every month — 51% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Delray Beach against Palm Beach County and Florida
| Measure | Delray Beach | Palm Beach County |
|---|---|---|
| Median home value | $386,700 | $407,300 |
| Median property tax | $3,118 | $3,600 |
| Effective tax rate | 0.806% | 0.884% |
| Median gross rent | $1,914 | $1,818 |
| Population | 66,940 | 1,507,453 |
The weather behind that power bill
Delray Beach sits in Palm Beach County, which averages a high of 90.0°F in its hottest month and a low of 57.9°F in its coldest, with 61.75" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 4,166 cooling and 202 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Palm Beach County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Palm Beach County
Full Palm Beach County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Delray Beach?
A $387,000 home in Delray Beach, Florida costs approximately $3,010 per month with 20% down at 6.66%. That is $1,990 principal and interest, $260 property tax, $234 homeowners insurance, $204 utilities and $323 set aside for maintenance.
What is the property tax rate in Delray Beach?
Delray Beach has an effective property tax rate of 0.806%, based on a median home value of $386,700 and median real estate taxes of $3,118. That is lower than the Palm Beach County average of 0.884%.
What is the average home price in Delray Beach?
The median owner-occupied home value in Delray Beach, Florida is $386,700, against $407,300 across Palm Beach County.
Is it cheaper to rent or buy in Delray Beach?
Median gross rent in Delray Beach is $1,914 a month, against $3,010 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Delray Beach — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Florida.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.