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Talk to a Specialist →The Equity Conversion
The median home value in Ohio is approximately $210,000. After selling costs (6% agent commission + closing costs), a typical OH homeowner nets roughly 92–93% of sale price. Here is what that equity buys in Palm Beach County:
| OH 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: Ohio vs Florida
Ohio has a state income tax of 0–3.75% (graduated). Social Security is not taxed in OH. For retirees with moderate income ($60K–$100K), the move eliminates $1,500–$3,000/year in state income tax. The savings are modest compared to NY, NJ, or CT.
The Honest Caveat
Ohio to PBC is primarily a lifestyle and weather move, not a tax move. The income tax savings are modest. The property tax comparison is roughly neutral. Ohio home values are lower, meaning less equity to convert. Ohio buyers should budget carefully and may find the legacy condo tier (Kings Point, Century Village, Greenway Village) offers the best financial fit. The resort-tier Valencias may require supplementing home equity with savings.
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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. Ohio rates vary but typically run 1.2–1.6% effective. The comparison depends on your specific home values in both states. Use this framework:
If your OH 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 OH bill below the nominal rate, the Florida bill may be comparable or higher in year one.
6What Ohio Buyers Typically Choose
Based on the communities we cover, Ohio 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 Ohio 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 Ohio?
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