Boca Raton is currently undergoing a rental boom as developers focus on high-density living to accommodate a growing population. Approximately 7,600 apartment units are under development, set against a backdrop of rising housing prices that have increased 78% in five years. Major developers are transforming spaces previously occupied by businesses, like Office Depot's old campus, into residential communities that appeal to a workforce increasingly priced out of the market. Officials emphasize the need for attainable housing to sustain the influx of new businesses and residents, illustrating a shift in Boca Raton's demographic and urban landscape.
Boca Raton is experiencing a rental boom, with over 7,600 new apartment units in development amid a significant rise in housing demand.
Investors believe that the influx of new residents to Palm Beach County, in search of affordable housing, will sustain the growth of rental communities.
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