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West Palm Beach–Boca Raton–Boynton Beach

Q2 2026
Rental Market Index

West Palm Beach–Boca Raton–Boynton Beach remained one of Florida's stronger rental markets in Q1 2026, with rents holding near $2,200–$2,600 and modest year-over-year declines of 1–2% as high-income in-migration sustained demand.

Historical Trends — 9 Quarters

Average asking rent ($/mo) and vacancy rate (%) — Q2 2024 through Q2 2026

Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026$1,508$1,598$1,688$1,8500%4%8%15%
  • Vacancy %
  • Avg Rent

* Figures are modeled estimates based on Florida Realtors, Apartment List, RealPage, and Zillow ZORI data. Q2 2026 reflects preliminary estimates. For research and informational purposes only.

West Palm Beach–Boca Raton–Boynton Beach — Q1 2026 Rental Market Report

Palm Beach County's rental market demonstrated relative resilience in Q1 2026. The area's appeal to high-income remote workers, retirees, and financial sector employees — particularly following the relocation of numerous hedge funds and family offices from the Northeast — has supported above-average rent levels and occupancy.

Key Metrics — Q1 2026

  • Average monthly rent (estimated): ~$2,200–$2,600
  • Year-over-year rent change: Approximately −1% to −2%
  • Florida statewide change: −3.0% (Apartment List, March 2026)

Market Conditions

West Palm Beach proper has seen significant urban revitalization along Clematis Street and the Flagler Drive waterfront corridor, attracting young professionals and creating demand for urban rentals. Boca Raton continues to command premium rents near Florida Atlantic University and the corporate park corridor. Boynton Beach and Delray Beach offer relative affordability within the county. New luxury supply is modest, keeping overall vacancy tighter than metros further north.

Outlook for Landlords

Palm Beach County is expected to outperform the statewide trend through 2026. Demand from high-net-worth individuals and corporate relocations underpins the market. Landlords should be attentive to the growing renter-by-choice segment, which has high expectations for unit quality and amenities.

Sources: Florida Realtors (April 2026), Apartment List (March 2026), Florida Housing Data Clearinghouse, Florida Landlord Network analysis.

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