CALCMONEY // HOME AFFORDABILITY // FL // DELRAY BEACH
How much house can you afford in Delray Beach? Based on local median home prices, current FL mortgage rates, and Delray Beach property tax data.
$1,200,000
$7,823/mo
$335,253/yr
$654,165
Monthly housing costs of $7,823 represent 44.3% of Delray Beach's median gross monthly income ($17,667/mo). At 44.3%, median-income buyers in Delray Beach are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $1,200,000 |
| Down Payment (20%) | $240,000 |
| Loan Amount | $960,000 |
| Monthly PI Payment | $6,323 |
| Monthly Property Tax | $1,000 |
| Monthly Insurance Est. | $500 |
| Total Monthly PITI | $7,823 |
| Housing Cost % of Income | 44.3% |
| Required Income (28% rule) | $335,253/yr |
| Max Affordable Home | $654,165 |
$42,000
$9,947/mo
Delray Beach Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $1,200,000 | Delray Beach city median |
| Down Payment (20%) | $240,000 | Conventional loan |
| Monthly PITI | $7,823 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $335,253 | Annual gross |
| Max Affordable Home | $654,165 | Based on median income |
| FHA Down (3.5%) | $42,000 | Minimum FHA |
| Housing Cost % of Income | 44.3% | Median income: $212,000/yr |
| Property Tax Rate | 1% | $12,000/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Delray Beach is $1,200,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $960,000, generating a monthly P&I payment of $6,323. Adding property taxes ($1,000/mo) and homeowners insurance ($500/mo) brings total monthly PITI to $7,823.
Delray Beach's property tax rate of 1% is near the national average, adding a standard increment to monthly housing costs. On the Delray Beach median home, that is $1,000/month, or $12,000 per year.
Florida has no state income tax, improving effective take-home pay for Delray Beach residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Delray Beach's median income of $212,000/year can afford up to $4,947/month in total housing costs. Based on Delray Beach's mortgage rate of 6.9% and property tax rate of 1%, that translates to a maximum affordable home price of approximately $654,165 with 20% down on a 30-year loan.
To afford the median Delray Beach home priced at $1,200,000, you need an annual gross income of approximately $335,253. Total monthly housing costs (principal and interest of $6,323, property taxes of $1,000, and insurance of $500) come to $7,823/month, which equals 28% of the required income.
At the median home price of $1,200,000 and median household income of $212,000, the total monthly housing cost of $7,823 represents 44.3% of gross monthly income. This is well above the standard 28% threshold, making Delray Beach a challenging market for buyers at median income.
A conventional 20% down payment on the median Delray Beach home of $1,200,000 is $240,000. An FHA loan requires just 3.5% down — $42,000 — but adds mortgage insurance of roughly $820/month, bringing total FHA payments to $9,947/month.