FHA loans were 11.6% of Palm Beach County mortgage originations in 2025 and VA loans 3.5% (CFPB/FFIEC HMDA). FHA mortgage insurance premiums are set by HUD and are the same at every lender, so compare FHA lenders on rate, lender fees and points using their Loan Estimates.
Boca Raton, Florida: 2026 Market Data
📊 LOCAL MARKET DATA
- Median household income (Boca Raton): $106,273
- Median owner-occupied home value (Census ACS 2020–2024 5-year): $722,700
- FHA share of mortgage originations (Palm Beach County, HMDA 2025): 11.6%
- Conventional share of mortgage originations (Palm Beach County, HMDA 2025): 84.8%
- Median real estate taxes paid by homeowners (Palm Beach County, ACS 2024 5-year): $3,858 a year
Data from U.S. Census Bureau, HMDA
FHA Loans in Boca Raton: 2026 Market Snapshot
In 2025, 84.8% of Palm Beach County mortgage originations were conventional loans, 11.6% were FHA and 3.5% were VA (CFPB/FFIEC HMDA). If you're considering an FHA loan in Boca Raton, it helps to understand where it fits. A big part of that comes down to price. The median owner-occupied home value in Boca Raton is $722,700 (Census ACS 2020–2024 5-year). At that value, knowing how an FHA loan works for your budget matters more than ever, and it's worth running the numbers carefully before you commit. Don't forget the ongoing costs of ownership, either. Palm Beach County homeowners paid a median $3,858 a year in real estate taxes (Census ACS 2024 5-year), about 0.86% of the county's $447,300 median owner-occupied home value in the same survey. Several lenders operate in the Boca Raton area, including Chase, Regions Bank, and Wells Fargo. The smart move is to gather quotes from more than one, read the fine print closely, and ask questions until the terms are clear. Comparing several offers side by side gives you the best shot at finding a loan that genuinely fits your situation.
$722,700 Median Owner-Occupied Home Value in Boca Raton: What It Means for Your Down Payment
At Boca Raton's median owner-occupied home value of $722,700 (Census ACS 2020–2024 5-year), the FHA down payment requirement of 3.5% translates to roughly $25,300 on a home at that value. That's a meaningful number, but far more attainable than the 20% conventional buyers often feel pressured to bring. The trade-off is FHA mortgage insurance, which you'll pay both upfront and monthly, so factor that into your budget early. In Boca, where condos and townhomes make up a sizable chunk of inventory, be aware that not every property is FHA-approved—condo associations must be on the approved list, and that can narrow your options. Many buyers here pair their FHA loan with gift funds from family, which Florida fully permits as long as it's properly documented. If you're targeting a home below the median, your down payment shrinks accordingly, and that frees up cash reserves you'll want for closing costs, insurance escrows, and the inevitable surprises homeownership in South Florida brings.
Credit Unions in Palm Beach County vs National Lenders: Where the Rate Edge Lives
When shopping for an FHA loan in Boca Raton, don't overlook the credit unions operating throughout Palm Beach County. Institutions like local member-owned cooperatives often shave a quarter to a half point off the rates you'd find at large national lenders, simply because their nonprofit structure lets them pass savings to members. The catch is membership eligibility, though many county credit unions have broadened their criteria to include nearly anyone who lives or works in the area. National lenders, on the other hand, bring streamlined online processes and sometimes more aggressive FHA programs designed for first-time buyers. The smart move in Boca is to gather quotes from both camps within a tight window—typically 14 to 45 days—so the credit inquiries count as a single pull. Pay attention not just to the rate but to lender fees, which vary widely. A slightly higher rate with lower origination costs can actually win over the life of your loan, so run the full comparison.
