How Much Does It Cost to Buy a House in Palm Beach County? Down Payment and Closing Costs

How much does it cost to buy a house in Palm Beach County? The short answer is the down payment plus closing costs, plus a set of prepaid items most buyers forget to budget for. On a home at the county's August 2026 median price of $650,000, a buyer putting 10% down should plan on bringing roughly $76,000 to $80,500 or more to the closing table. This guide breaks that number into its parts, so you can build your own cash-to-close estimate before you start touring homes.

Key takeaways

• In August 2026 the Palm Beach County single-family median was $650,000. The condo and townhouse median was $300,000.
• FHA loans allow a down payment as low as 3.5%. Many conventional buyers put down 5% to 20%.
• Florida charges two taxes on a new mortgage: documentary stamps at 35 cents per $100 of the loan, and intangible tax at 2 mills (0.2%).
• In Palm Beach County the seller customarily pays for the owner's title policy. The buyer usually pays for the lender's policy, which is far cheaper when issued at the same time.
• Prepaid insurance, an escrow cushion and HOA or condo charges can add several thousand dollars on top of closing costs.

How much does it cost to buy a house? The three buckets

Every purchase splits into the same three buckets. First comes the down payment, which is the part of the price you do not borrow. Next come closing costs, which are the fees and taxes to make the loan and transfer the title. Finally there are prepaids and escrow, which cover your first year of insurance and seed the account your lender uses to pay taxes and insurance later.

Your lender shows all three on the Loan Estimate. The CFPB notes that the form lists an "Estimated Cash to Close," which is the amount you will pay at closing on top of any money you have already paid, such as your deposit. Later, you get a Closing Disclosure at least three business days before you close, so you can compare the final numbers to the estimate.

What buyers pay in Palm Beach County right now

Prices set the scale for everything else, so start there. According to Miami Realtors and the Beaches MLS, the Palm Beach County single-family median was $650,000 in August 2026. Those homes went under contract in a median of 40 days, and the county had 3.5 months of supply.

Condos and townhouses were a different market. Their median was $300,000, with 69 days to contract and 6.7 months of supply. In other words, a condo buyer often has more room to negotiate, while a house buyer faces more competition.

If you are also looking north, St. Lucie County is cheaper. The St. Lucie County August 2026 report put the single-family median at $402,500 and the condo and townhouse median at $320,000. Our Port St. Lucie page covers that market in more detail.

How much does it cost to buy a house up front? The down payment

For most buyers the down payment is the largest single check. The minimum depends on the loan type. For example, HUD says an FHA down payment "can be as low as 3.5%" of the price. FHA guidance in Mortgagee Letter 10-29 limits borrowers with credit scores from 500 to 579 to 90% financing, so they need at least 10% down.

Conventional loans have their own minimums, and many buyers choose 5%, 10% or 20%. However, putting less than 20% down on a conventional loan usually means paying for private mortgage insurance. So a smaller down payment saves cash now but raises the monthly payment.

Here is what common down payments look like on the county medians:

• $650,000 house: 3.5% is $22,750, 10% is $65,000, and 20% is $130,000.
• $300,000 condo: 3.5% is $10,500, 10% is $30,000, and 20% is $60,000.
• $402,500 St. Lucie house: 3.5% is about $14,090, and 10% is $40,250.

Our guide to the minimum down payment for a house walks through each loan type. Also check Florida's assistance programs if you are a first-time buyer.

How much does it cost to buy a house with Florida mortgage taxes?

Florida adds two taxes that many out-of-state buyers have never seen. Both are based on the loan amount, not the price, and the buyer usually pays them because they come with the buyer's loan.

Documentary stamp tax on the note

Under section 201.08, Florida Statutes, the tax is 35 cents on each $100 of the debt. On a $585,000 loan, that comes to $2,047.50.

Intangible tax on the mortgage

Next, section 199.133 sets a one-time tax of 2 mills on each dollar of a loan secured by Florida real estate. That is 0.2%, so a $585,000 loan carries $1,170 in intangible tax. A cash buyer pays neither tax, which is one reason cash closings cost less.

Title insurance and who pays it here

Title insurance protects against problems with ownership that a search missed. Florida sets the premiums by rule, so every company charges the same base rate. Under rule 69O-186.003, an owner's policy costs $5.75 per $1,000 for the first $100,000 of coverage, then $5.00 per $1,000 up to $1 million.

In Palm Beach County, the seller customarily pays for the owner's policy. That is a local custom, and your contract controls, so read the title section before you sign. Because the owner's policy is already being issued, the lender's policy you buy at the same time starts at a minimum of $25, plus endorsements your lender requires. Rules differ by county, and our post on who pays closing costs in Florida compares them.

Lender and third-party fees

Lender charges vary more than anything else on the estimate, so this is where shopping pays off. A local real estate law firm, Kelley, Grant and Tanis, lists these typical buyer costs in Palm Beach County:

• Loan origination and underwriting: 0.5% to 1% of the loan.
• Appraisal: $500 to $1,000.
• Recording fees: $50 to $200.
• Municipal lien search: $150 to $300.
• HOA or condo application: $100 to $500.

The same firm puts total buyer closing costs at about 2% to 5% of the price. On a $650,000 home, that range is $13,000 to $32,500. Also budget for inspections. In Florida, many insurers ask for a four-point or wind mitigation report on older homes, and those reports can lower your premium.

How much does it cost to buy a house once insurance is prepaid?

Here is where many first budgets fall short. Your lender will want proof that the first year of homeowners insurance is paid. As a result, the full annual premium usually shows up on the Closing Disclosure.

Insurance costs are easing but still high. Florida Realtors reported in September 2026 that the state's average homeowners premium was $3,736, including wind coverage. Your quote could be higher or lower, based on the roof, the year built and the flood zone. Flood insurance is a separate policy, and lenders require it in high-risk zones.

Most loans also come with an escrow account for taxes and insurance. Federal rules in Regulation X let the lender collect enough at closing to cover bills until your first payment, plus a cushion of no more than one-sixth of a year's escrow payments. That cushion equals about two months. On a $3,736 premium alone, two months is about $623, and property taxes add more.

How property tax proration works

Florida property taxes are paid in arrears. The Palm Beach County Tax Collector mails bills by November 1, offers a 4% discount for paying in November, and treats unpaid taxes as delinquent on April 1. So in most closings the seller owes you a credit for the part of the year they owned the home. That credit lowers your cash to close, but it also means you pay the full bill in November.

HOA and condo charges at closing

Many South Florida homes sit in an HOA or a condo association, and that adds its own line items. Common charges include an application fee, an estoppel letter (which the seller usually orders), a prorated share of dues, and sometimes a one-time capital contribution. That last charge is set by each community's documents, so the amount can be small or several months of dues.

Ask for the governing documents and the budget early. Then confirm with the closing agent who pays each charge under your contract. If a special assessment is coming, find out before your inspection period ends.

How much does it cost to buy a house at the median? A sample

Here is how the parts add up on a $650,000 Palm Beach County house with 10% down and a $585,000 loan. These are estimates for planning, and your Loan Estimate will be more precise.

1. Down payment, 10%: $65,000.
2. Documentary stamps on the note: $2,047.50.
3. Intangible tax: $1,170.
4. Lender's title policy, simultaneous issue: from $25, plus endorsements.
5. Origination and underwriting, 0.5% to 1%: $2,925 to $5,850.
6. Appraisal: $500 to $1,000.
7. Recording, lien search and HOA application: about $300 to $1,000.
8. First year of insurance, at the state average: $3,736.
9. Escrow cushion for insurance, about two months: $623, plus property taxes.

Altogether, that is roughly $76,300 to $80,500 before property tax escrow, inspections, HOA charges and any seller credits. Without the down payment, the costs above run about $11,300 to $15,500, or close to 1.7% to 2.4% of the price.

The same math on a condo or a St. Lucie home

On a $300,000 condo with 10% down, the mortgage taxes fall to about $945 for doc stamps and $540 for intangible tax on a $270,000 loan. However, condo insurance, dues and a possible capital contribution can make up a bigger share of the total.

In Port St. Lucie, a $402,500 home with an FHA loan and 3.5% down needs about $14,090 at the start. Even so, FHA adds its own mortgage insurance premium, so ask the lender to show it on the estimate.

How much does it cost to buy a house after credits? Ways to save

There are several fair ways to bring the number down. For example, you can ask the seller for a closing cost credit as part of your offer, although your lender limits how much a seller can contribute. You can also compare Loan Estimates from two or three lenders, since origination charges vary.

In addition, check Florida down payment assistance programs if you qualify. Closing near the end of a month can also cut prepaid interest. Finally, a wind mitigation report can lower your first-year premium, which shrinks one of the largest prepaid items.

Frequently asked questions

How much does it cost to buy a house with an FHA loan?

The FHA down payment can be as low as 3.5% with a credit score of 580 or higher. On top of that, you pay closing costs, prepaid insurance, escrow and FHA mortgage insurance. Ask your lender for a full Loan Estimate.

Who pays the documentary stamp tax when you buy a house in Florida?

The buyer usually pays the doc stamps and intangible tax on the new mortgage, because they come with the buyer's loan. In Palm Beach County, the seller customarily pays doc stamps on the deed.

Do I pay for title insurance as a buyer in Palm Beach County?

By local custom the seller pays for the owner's policy, and the buyer pays for the lender's policy. The contract controls, so check which box is marked before you sign.

How much does it cost to buy a house in cash?

A cash buyer skips the mortgage taxes, lender fees and escrow cushion. You still pay for inspections, insurance, recording and any HOA charges, along with the price itself.

When will I know my exact cash to close?

Your Closing Disclosure arrives at least three business days before closing. It shows the final cash to close, and you can compare it line by line with your Loan Estimate.

Sources

• Miami Realtors, Palm Beach County August 2026 market report
• Miami Realtors, St. Lucie County August 2026 market report
• HUD, FHA loans
• HUD, Mortgagee Letter 10-29
• Florida Statutes, s. 201.08
• Florida Statutes, s. 199.133
• Florida Administrative Code, rule 69O-186.003
• Kelley, Grant and Tanis, West Palm Beach closing costs
• Florida Realtors, home insurance rate cuts (September 2026)
• CFPB, Loan Estimate explainer
• CFPB, What is a Closing Disclosure?
• CFPB, Regulation X 1024.17, escrow accounts
• Palm Beach County Tax Collector, property tax

This article is general information, not legal, tax or financial advice. Fees, rates and lending rules change, so confirm your numbers with your lender, closing agent and a licensed professional.

Own a home you may sell before you buy? Your equity is often the biggest piece of your next down payment, so start with a free home value estimate. Buying in Palm Beach County or Port St. Lucie? Schedule a buyer strategy call and we will build your cash-to-close plan with you. Contact Pure Equity.