Real Estate Investing in Boca Raton, Florida (33428)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 33428 (Boca Raton, FL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.8% vacancy may signal weakening demand.
What’s happening in Boca Raton, FL (33428)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 33428 Boca Raton
Investors eyeing 33428 need to respect the fundamentals at play. Home values of $493K come alongside slower price movement and elevated management overhead.
From an investor standpoint, the numbers look inviting — $493K purchase price, 0.0% nominal cap — the work to hit that pro forma in 33428 is substantial and deserves full respect.
Statewide comparisons place 33428 among FL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 33428 ZIP's population of 46,228 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
The right play in 33428 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Boca Raton:
Property Strategy for 33428
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $150,978 | $2,380 | 11.4% | +6.5% | $150,978 |
| 2BR | $236,825 | $2,820 | 8.6% | +5.6% | $118,412 |
| 3BR | $498,630 | $3,650 | 5.3% | +8.4% | $166,210 |
| 4BR | $728,575 | $4,240 | 4.2% | +10.0% | $182,144 |
| 5BR | $1,055,232 | — | — | +11.3% | $211,046 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33428 Compare?
| Metric | 33428 | Boca Raton | Miami-Fort Lauderdale-Pompano Beach, FL | Florida |
|---|---|---|---|---|
| Home Value | $492,894 | $688,707 | N/A | $374,697 |
| 5-Year CAGR | 5.8% | 7.1% | N/A | 7.4% |
| Avg Rent | $2,763 | $3,150 | N/A | - |
| Cap Rate | 4.4% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 33428 (Boca Raton, FL). Anonymous, moderated, never written by AI.
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Property managers serving Palm Beach County
Manage rentals here? List your business →Ibero Property Management and Real Estate Services offers apartment, multifamily, commercial, and rental management, alongside real estate services for sellers, buyers, and investors. summary from their website
Mangrove Property Management specializes in leasing, management, and sales of rental properties including single-family homes, townhomes, condos, and multi-family buildings in Northern and Central Pal summary from their website
Maxima Property Management Inc. offers property management, real estate brokerage, second home management, and vacation rental management services in South Florida, including Pompano Beach, Fort Laude summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $492,894 |
| Monthly Rent | $2,763 |
| Price-to-Rent | 14.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.4% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +1.3% ▲ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | +0.7% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +3.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 33428
Population: 46,228
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 33428
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,244 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are renters plentiful in Boca Raton, FL?
Working renters make up the core of the Boca Raton, FL tenant base. The pool is reasonable for investors targeting long-term holds.
How landlord-friendly is Boca Raton, FL?
Landlord-friendliness in Boca Raton, FL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is house hacking profitable in Boca Raton, FL?
House hacking works a challenging in Boca Raton, FL. Rents of $2,763/mo against $493K acquisition make the strategy solid for owner-occupants.
How much do tenants pay in Boca Raton, FL?
Rent in Boca Raton, FL is around $2,763/mo. The resulting rent-to-value relationship with $493K pricing is reasonable for most investor models.
How strong is Boca Raton, FL for real estate investors?
Boca Raton, FL rates 3.0/5 for investability. With median values at $493K and rents near $2,763/mo, the market offers reasonable fundamentals for rental investors.
You know 33428 now. You don’t know where it ranks.
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How 33428 ranks in Miami-Fort Lauderdale-Pompano Beach, FL
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