When you install Dropbox on your Mac, the Dropbox folder is placed under your Home folder by default. You can however, change its location. Perhaps you have a limited amount of hard drive space on your computer and wish to move your Dropbox folder to an external drive. Or maybe you prefer to have your Dropbox folder located under your Documents folder or another folder for easier access.
To change the location of your Dropbox folder, click the Dropbox icon in the menulet bar on the top right corner of your screen and then click the Gear icon to display a drop down menu. From this menu, choose Preferences to launch the Dropbox Preferences window.
On top of the Preferences window, click the Account icon. The Account pane is from where you can set up options such as selective sync, the location of your Dropbox folder and the option to unlink the Dropbox accout.
To change the folder location, click the Dropbox location drop-down list and then choose Other. From here, you’ll navigate to the folder to where you wish to move your Dropbox folder. If you wish to move it to a new folder, click the New Folder button and then type a name for your folder.
Note however, that you cannot change the name of the Dropbox folder itself. Dropbox will not sync the folder if you have renamed it. Likewise, it will not sync the folder if you move the folder from the Finder or another application rather than go through the Dropbox Preferences pane.