Here's What I'm Seeing This Month
Every month I pull the freshest numbers I can verify for the towns where first-time buyers actually shop: Boynton Beach, Lake Worth Beach, Palm Springs, Deerfield Beach, Pompano Beach, Plantation, and the surrounding areas. This is the October 2026 edition.
Prices come from current MLS-based reports, the rate comes from Freddie Mac's weekly survey, and the payment math is shown below so you can see exactly how it was built. If I could not verify a number with a current source, I left it out rather than guess.
The Rate Right Now: 7.40%
The average 30-year fixed mortgage rate was 7.40% in Freddie Mac's Primary Mortgage Market Survey released October 8, 2026, up from 7.28% the week before. One year earlier, the same survey averaged 6.30% (Freddie Mac, survey of October 9, 2025).
What that means for you: rates are the biggest single factor in your monthly payment right now. The same condo costs more per month than it did a year ago, which is exactly why the down payment assistance programs later in this report matter so much. A higher rate changes the payment, not the plan: the same neighborhoods, the same programs, and the same negotiation room all still apply.
Entry-Level Price Points by Town
Below are the most recent median sale prices I could verify for each town, split by property type where the source publishes a split. These are point-in-time medians from MLS-based reports, so they shift month to month.
| Town | Condo & Townhome Median | Single-Family Median | Source & Date |
|---|---|---|---|
| Boynton Beach | ~$285,000 | ~$567,500 (Aug); ~$500,000 on the Sep 2026 page | PBP Real Estate MLS stats, Aug-Sep 2026 |
| Lake Worth Beach | ~$200,000 (year-to-date median ~$199,500) | ~$560,000 | PBP Real Estate MLS stats, Aug 2026 |
| Deerfield Beach | ~$222,000 (12-month median ~$170,000, 786 sales) | ~$549,500 | PBP Real Estate MLS stats, Aug 2026 / as of Sep 2026 |
| Pompano Beach | ~$284,900 (+17.5% YoY) | ~$479,000 | PBP Real Estate MLS stats, Aug 2026 |
| Plantation | Not published in the sources used | ~$687,500 | PBP Real Estate, Sep 2026 |
| Palm Springs | Overall median ~$297,000 (all types) | Not published separately | Redfin, 3 months ending June 2026 (+12.2% YoY) |
MLS reports group condos and townhomes together, so the condo and townhome median is one number. Townhome-only medians are not published separately in the sources I used, so I am not quoting one. Medians vary by month and by source.
The honest takeaway: the entry point in every one of these towns is a condo or townhome. Deerfield Beach and Lake Worth Beach have the lowest condo and townhome medians, around $200,000 to $222,000. Boynton Beach and Pompano Beach sit near $285,000. Single-family homes run about $479,000 to $688,000 in these towns, which is why most first-time buyers in this market start with attached homes.
Condo vs Townhome vs Single-Family: Where Your Budget Lands
Using the medians above as a guide:
- Under ~$300,000: condos and townhomes. This is the first-time buyer band in Deerfield Beach, Lake Worth Beach, Boynton Beach, and Pompano Beach. Older well-run buildings and inland communities have the most inventory here.
- ~$300,000 to ~$450,000: more townhomes, some older houses, and the upper end of the condo market in these towns.
- ~$450,000 and up: detached single-family homes, starting around the $479,000 Pompano Beach median and running to $688,000 in Plantation.
One honest note: because the MLS reports group condos and townhomes together, I cannot give you a verified townhome-only median this month. The real split varies by building and by month, and the fastest way to see it for your exact budget is a live search with your buyer's agent. For a deeper comparison of the three home types, see Condo, Townhouse, or Single-Family in Florida? and Affordable Condos Under $300K in South Florida.
Estimated Monthly Payments at the Current Rate
Here is the payment math for a typical first home at today's rate: a 30-year fixed FHA loan at the 7.40% average rate from Freddie Mac's survey released October 8, 2026, with the FHA minimum of 3.5% down. Principal and interest only.
| Price Point | 3.5% Down | Est. Principal & Interest |
|---|---|---|
| $200,000 (Lake Worth Beach condo median) | $7,000 | ~$1,336/month |
| $222,000 (Deerfield Beach condo median) | $7,770 | ~$1,483/month |
| $285,000 (Boynton Beach / Pompano Beach condo median) | $9,975 | ~$1,904/month |
| $297,000 (Palm Springs overall median) | $10,395 | ~$1,984/month |
| $479,000 (Pompano Beach single-family median) | $16,765 | ~$3,200/month |
| $549,500 (Deerfield Beach single-family median) | $19,233 | ~$3,671/month |
| $567,500 (Boynton Beach single-family median) | $19,863 | ~$3,792/month |
Estimates assume a 30-year fixed loan at 7.40% (Freddie Mac PMMS, October 8, 2026) with 3.5% down. Principal and interest only, rounded. FHA mortgage insurance (annual premium of 0.55% for a 30-year loan with 3.5% down) adds roughly $90 to $250 a month on these loan sizes, and property taxes, homeowners insurance, and HOA fees add more. Your actual rate and payment depend on your credit, the property, and the lender.
As planning ranges: a $200,000 condo in Lake Worth Beach works out to roughly $1,900 to $2,300 a month all-in (payment plus FHA mortgage insurance, taxes, insurance, and HOA). A $285,000 condo in Boynton Beach or Pompano Beach lands closer to $2,500 to $2,900 all-in. A $479,000 single-family home in Pompano Beach runs roughly $4,100 to $4,600 all-in. These are planning ranges, not quotes; your lender will give you exact numbers.
FHA: The Minimum Down Payment
The FHA minimum down payment is 3.5% of the purchase price, and that option requires a credit score of 580 or higher. Borrowers with scores between 500 and 579 can still get an FHA loan but must put down at least 10% (FHA program requirements, 2026).
Two things first-time buyers should know about FHA:
- Mortgage insurance: FHA loans carry an upfront premium of 1.75% (usually financed into the loan) plus an annual premium of 0.55% for a 30-year loan with 3.5% down, required for the life of the loan at under 10% down (FHA MIP rates, 2026).
- Gift funds: the 3.5% down payment can come entirely from gift funds with proper documentation, which is how many of my clients get started.
On a $285,000 condo, 3.5% down is $9,975. With Hometown Heroes or FL Assist covering part or all of that, the cash you need out of pocket can drop dramatically. More detail is on the Financing & Programs page.
Assistance Programs That Are Live Right Now
Both big Florida programs are active as of this report, and both are worth checking before you assume you cannot afford the down payment:
- Hometown Heroes: the 2026 funding cycle launched July 13, 2026 with $50 million, first-come first-served through participating lenders, and roughly $25 million remained as of mid-September 2026 (Florida Housing Finance Corporation). Assistance runs up to $35,000, structured as 5% of the loan amount (minimum $10,000), as a 0% interest deferred second mortgage for down payment and closing costs.
- FL Assist: up to $10,000 in down payment and closing cost assistance as a 0% interest deferred second mortgage, repayable when you sell, refinance, or pay off the first mortgage. Active through Florida Housing's participating lenders in 2026.
Funding is limited and first-come, first-served, so if you are serious about buying, this is a reason to start the conversation now rather than later. Program amounts and availability can change, so confirm the current details with your lender at application time.
What This Means for You
Here is my honest read of October 2026 for a first-time buyer:
- The entry point is condos and townhomes. Verified medians of $200,000 to $285,000 in Deerfield Beach, Lake Worth Beach, Boynton Beach, and Pompano Beach keep a first home within reach.
- Rates at 7.40% squeeze the payment, not the plan. The same home costs more per month than a year ago, so shop the payment, not just the price, and let assistance programs do the heavy lifting.
- FHA's 3.5% down is the most common first-time path. With a 580+ credit score and gift funds or assistance, the cash hurdle is far smaller than most people assume.
- The programs are live, but funding moves. Hometown Heroes had roughly $25 million left in mid-September. If you are ready, do not wait for a "better" market that may not come.
Let's Look at Your Numbers
Every report ends the same way for a reason: your budget, your timeline, and your goals are different from any headline number. A 15-minute conversation tells you more than a month of reading.
Call or text Ryan at 561-915-8590. No pressure, no sales pitch, just an honest look at what the October 2026 numbers mean for you.
And if financing is the piece you want to understand better, I work closely with Austin Edwards at Ocean Blue Lending. Austin knows the programs above inside and out, and he can tell you exactly what you qualify for, including FHA, Hometown Heroes, and FL Assist. Reach him at 561-426-8238.
Where These Numbers Come From
This report uses only current public sources, and every figure is dated above: Freddie Mac's Primary Mortgage Market Survey (released October 8, 2026; year-ago reading from October 9, 2025), PBP Real Estate / BeachesMLS city statistics for Boynton Beach, Lake Worth Beach, Deerfield Beach, Pompano Beach, and Plantation (August and September 2026), Redfin's Palm Springs housing market page (three months ending June 2026), the Florida Housing Finance Corporation for Hometown Heroes (2026 cycle, launched July 13, 2026) and FL Assist, and FHA program and mortgage insurance requirements (2026). Anything I could not verify with a current source was left out. Rates, program amounts, and availability change, so always confirm the details with a licensed lender before making decisions.
For the complete market picture, including inventory, days on market, and county-level medians, see the South Florida Buyer Market Update: October 2026. For a wider view of the real estate landscape, visit RyanParkerRealty.com for the flagship brand, RyanParkerHomeGuide.com for comprehensive real estate education, or SouthFloridaSellerGuide.com if you are thinking about selling too.