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Talk to a Specialist →The Equity Conversion
The median home value in Massachusetts is approximately $580,000. After selling costs (6% agent commission + closing costs), a typical MA homeowner nets roughly 92–93% of sale price. Here is what that equity buys in Palm Beach County:
| MA Home Sale | Net After Costs | PBC Option | Cash Left Over |
|---|---|---|---|
| $400K | ~$370K | Legacy condo ($130K) | ~$240K |
| $400K | ~$370K | Mid-tier villa ($280K) | ~$90K |
| $600K | ~$555K | GL Homes Valencia ($450K) | ~$105K |
| $800K | ~$740K | Cresswind/Regency ($650K) | ~$90K |
| $1M+ | ~$925K | Valencia Sound/Del Mar ($750K) | ~$175K |
Income Tax: Massachusetts vs Florida
Massachusetts has a flat state income tax of 5% (plus a 4% surtax on income above $1M). Social Security is not taxed in MA. For retirees with $100K+ in pension and investment income, the move eliminates $5,000–$8,000+/year in state income tax. The combination of high home equity and income tax savings makes MA one of the strongest feeder states for PBC.
The Honest Caveat
Massachusetts property taxes (1.0–1.4% effective) are actually comparable to Palm Beach County (1.1–1.3%). The property tax savings may be negligible or even negative depending on your specific towns. The income tax savings are the real driver for MA retirees. Also factor in: MA has excellent healthcare infrastructure that many retirees rely on. Confirm your Medicare Advantage or Medigap plan works in PBC before committing.
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Property Tax Comparison
Florida effective property tax rate in Palm Beach County is approximately 1.1–1.3% depending on municipality. Massachusetts rates vary but typically run 1.0–1.4% effective. The comparison depends on your specific home values in both states. Use this framework:
If your MA home is assessed at $500K and your PBC home will be assessed at $400K, your property tax likely decreases — both because of the lower assessment and because Florida homestead exemption removes $50K from assessed value. But if you are moving from a state with property tax caps or senior exemptions that reduced your MA bill below the nominal rate, the Florida bill may be comparable or higher in year one.
4What Massachusetts Buyers Typically Choose
Based on the communities we cover, Massachusetts relocators tend to cluster in two tiers: legacy condos (Kings Point, Century Village) for budget-conscious buyers who want to maximize cash reserves, and GL Homes Valencias for buyers who sold a $500K+ home and want resort-quality living. The golf communities (Hunters Run, Indian Spring) draw Massachusetts golfers who previously belonged to private clubs.
Related Research
← Back to Palm Beach County HubTotal Cost Comparison Table →PBC Property Tax Guide →Legacy Condo Guide →Moving from Massachusetts?
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