August 24, 2026 · 9 min read

Rent or Buy in Florida? Here's How to Run Your Numbers

Scott Selleck

Licensed since 1993, Dual Licensed NJ & FL

Want to listen? Here's the summary:

Deciding whether to rent or buy when moving to Florida depends on your specific numbers. This article introduces Scott Selleck's rent-vs-buy calculator, which helps you compare monthly costs, net worth at 5 and 10 years, and the break-even point. Florida-specific costs like insurance at $3,000 to $5,000 per year (consult your carrier or licensed FL insurance agent), HOA fees common in most communities, and no state income tax (consult a licensed tax professional) are factored in. Real market examples show that in Boca Raton where median home prices are $500K plus and median rents are $2,900 per month, renting builds more wealth in the first 5 years. In Fort Lauderdale where rents average $2,500 per month and homes sell for $450K plus, the break-even point is often 6 to 7 years. Scott's advisory approach recommends many NJ transplants rent for 6 to 12 months to explore different Florida towns before committing to buy.

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Try the Calculator

Most NJ transplants assume buying is always the right move in Florida. But with insurance rates, HOA fees, and property taxes that vary wildly by county, the math is not always what you expect. I built a free rent-vs-buy calculator specifically for Florida that helps you plug in YOUR numbers and see a real comparison.

This isn't a blog post explaining the concept in the abstract. It's a tool you can use right now. Plug in your rent amount, home price, down payment, mortgage rate, Florida property taxes, insurance costs, and HOA fees and see exactly when buying makes sense vs renting.

Who This Calculator Is For

This tool was built for the specific situation of NJ-to-Florida transplants. It's for you if:

You're planning a move from New Jersey and want to rent first while you learn the area
You currently rent in Florida and are trying to decide if now is the right time to buy
You're a homeowner wondering if you should sell your NJ home and rent in Florida instead of buying right away
You're comparing costs across different Florida markets and want to see which towns pencil out best for your budget

The calculator is not a general tool. It is a Florida-specific tool, built with Florida costs baked in from day one.

What the Calculator Shows You

When you run your numbers through the calculator, here is what you get back:

Monthly cost of renting vs buying with all Florida-specific costs itemized
How rent increases annually vs fixed mortgage payments (your payment stays the same, their rent goes up)
Net worth comparison assuming the money you save by renting is invested
The break-even point where buying becomes better than renting
Florida-specific costs: insurance ($3,000-$5,000/year — consult your carrier or licensed FL insurance agent), HOA fees, and no state income tax savings (consult a licensed tax professional)

Florida Real Talk: Market Examples

Here is what the numbers look like in some of the most popular Florida markets for NJ transplants:

Boca Raton

In Boca Raton, where median home prices are $500K+ and median rents are $2,900/month, renting actually builds more wealth in the first 5 years. The high purchase price combined with property taxes and insurance costs means your initial years of home equity growth are outpaced by what you can save renting and investing the difference.

Fort Lauderdale

In Fort Lauderdale, where rents average $2,500/month and homes sell for $450K+, the break-even point is often 6 to 7 years. If you plan to stay longer than that, buying makes sense. If your timeline is shorter, renting is the smarter financial move.

The Villages

In The Villages, where the community premium is built into home prices, renting for the first year can help you decide if the community lifestyle is right for you. Many NJ transplants find that renting first saves them from a costly mistake if the environment does not match their expectations. Rent runs $1,800 to $2,500/month while home prices are $300K to $600K+. Renting the first year helps decide if the community lifestyle is right for you.

Tampa

Tampa is a growing market where the calculator shows different results depending on the neighborhood. Median home prices range from $350K in suburbs to $600K+ in waterfront areas, while rents average $2,000 to $2,800/month. In some Tampa neighborhoods the break-even point is as low as 3 to 4 years, while in premium areas it stretches past 7. Tampa's diversity of options makes it the perfect market to run the calculator neighborhood by neighborhood before deciding.

Scott's Take

I have been doing this for 32 years. I have watched many clients make the move from New Jersey to Florida, and the single biggest variable in whether they feel good about their decision is whether they rushed into a home purchase or took the time to learn the area first.

As a dual-licensed NJ and FL agent, I tell my clients the truth: sometimes renting in Florida is the smarter move while you learn the area. The calculator gives you the numbers. I help you understand what they mean for your specific situation. There is no one-size-fits-all answer, and anyone who gives you one is not putting your interests first.

Many NJ transplants rent for 6 to 12 months to explore Boca, Delray, Fort Lauderdale, and Palm Beach Gardens before committing to buy. That first rental year is an investment in making the right choice. You learn which town fits your lifestyle, which commute you can tolerate, whether the neighborhood matches their lifestyle and priorities, and which neighborhoods feel like home. You cannot get that from a weekend house-hunting trip.

The calculator is free. The consultation is free. The only thing that costs you anything is making the wrong decision because you did not have the right information. Let's make sure that does not happen.

Ready to Run Your Numbers? Try the Calculator Now

See your real numbers. Compare monthly costs, net worth, and the break-even point for your Florida move.

Try the Calculator

Talk to Scott About Your Florida Move

Get a personalized walkthrough of your numbers. No sales pitch, just honest advice from someone who has done this many times.

Book a Free Consultation

Or call/text (201) 970-3960

Related Resources

Explore more tools and guides across our ecosystem to help with every step of your NJ to FL move:

Community Guide : NJ-specific town data, home prep guides, and local insights Personal Advisory : Scott's story, approach, and how he helps relocators make the move Resource Hub Quiz : "Which Florida Town Is Right for You?" interactive quiz Southbound Transition Blueprint : Step-by-step landing page for the complete relocation journey

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