Total monthly cost of ownership
Cost to Own a Home in Palm Beach Gardens, Florida
A $554,000 home here costs
$4,549per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $195,000 a year.
A standard mortgage calculator would have told you $3,069. The real number is $1,480 higher every month, 48% more than the payment most buyers budget for.
Compare Palm Beach County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Palm Beach Gardens against Palm Beach County and Florida
| Measure | Palm Beach Gardens | Palm Beach County |
|---|---|---|
| Median home value | $554,300 | $407,300 |
| Median property tax | $5,402 | $3,600 |
| Effective tax rate | 0.975% | 0.884% |
| Median gross rent | $2,269 | $1,818 |
| Population | 59,751 | 1,507,453 |
The weather behind that power bill
Palm Beach Gardens 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 $166 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
Talk to someone who works this market
These are Palm Beach Gardens averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Palm Beach Gardens every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Palm Beach Gardens I already own here and may sell
Common questions
How much does it cost to own a home in Palm Beach Gardens?
A $554,000 home in Palm Beach Gardens, Florida costs approximately $4,549 per month with 20% down at 7.4%. That is $3,069 principal and interest, $450 property tax, $335 homeowners insurance, $234 utilities and $462 set aside for maintenance.
What is the property tax rate in Palm Beach Gardens?
Palm Beach Gardens has an effective property tax rate of 0.975%, based on a median home value of $554,300 and median real estate taxes of $5,402. That is higher than the Palm Beach County average of 0.884%.
What is the average home price in Palm Beach Gardens?
The median owner-occupied home value in Palm Beach Gardens, Florida is $554,300, against $407,300 across Palm Beach County.
Is it cheaper to rent or buy in Palm Beach Gardens?
Median gross rent in Palm Beach Gardens is $2,269 a month, against $4,549 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Palm Beach Gardens?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Palm Beach Gardens, Florida at today's rate takes a household income of roughly $195,000 a year. That covers the full $4,549 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Palm Beach Gardens, 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.