Home Buying in Delray Beach
Delray Beach is a vibrant Atlantic Avenue destination with award-winning restaurants, boutique shops, a thriving arts scene, and beautiful beaches.
Frequently Asked Questions
Common questions about buying a home in Delray Beach
What is the current mortgage rate in Delray Beach?
The average 30-year fixed mortgage rate in Delray Beach, FL is currently 6.23% as of April 24, 2026. This is sourced from Freddie Mac's weekly survey via FRED.
How much is a down payment on a home in Delray Beach?
With Delray Beach's median home price of $510,000, a 20% down payment would be $102,000. First-time buyers may qualify for FHA loans with as little as 3.5% down ($17,850).
What are property taxes like in Delray Beach?
Delray Beach is in Palm Beach County. The average effective property tax rate is 0.9%, working out to approximately $4,590 per year on a median-priced home. Florida's Homestead Exemption can reduce your taxable value by up to $50,000 if this is your primary residence.
Is it better to rent or buy in Delray Beach?
With a monthly mortgage payment of ~$2,507 (20% down) vs. median rent of $2,400, buying costs more per month but builds equity. The break-even point depends on how long you plan to stay and your down payment amount.