North Palm Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating North Palm Beach Neighborhoods Since 2000




North Palm Beach, FL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

North Palm Beach Housing Market Information

With 12,853 people, 6,092 houses or apartments, and a median cost of homes of $337,001, real estate costs in North Palm Beach are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.

Large apartment complexes or high rise apartments are the single most common housing type in North Palm Beach, accounting for 55.80% of the village's housing units. Other types of housing that are prevalent in North Palm Beach include single-family detached homes ( 34.34%), row houses and other attached homes ( 6.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.82%). Villages with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact villages that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in North Palm Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 58.44% of the homes in North Palm Beach have two or fewer bedrooms.

There is a lot of housing in North Palm Beach built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in North Palm Beach built between 1940-1969 ( 36.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.01%).

Vacant housing appears to be an issue in North Palm Beach. Fully 23.65% of the housing stock is classified as vacant. Left unchecked, vacant North Palm Beach homes and apartments can be a drag on the real estate market, holding North Palm Beach real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

North Palm Beach Home Appreciation Rates

Real estate appreciation rates in North Palm Beach's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.53% during the period.

Appreciation rates are so strong in North Palm Beach that despite a nationwide downturn in the housing market, North Palm Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, North Palm Beach appreciation rates continue to be some of the highest in America, at 7.00%, which is higher than appreciation rates in 81.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in North Palm Beach. North Palm Beach appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.

Importantly, this makes North Palm Beach one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to Florida, our data show that North Palm Beach's latest annual appreciation rate is lower than 60% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within North Palm Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Palm Beach - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best North Palm Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$337,001

North Palm Beach, FL HOME PRICES

Value Range
> $1,357,000 6.0
$1,018,001 - $1,357,000 5.9
$679,001 - $1,018,000 10.4
$543,001 - $679,000 6.9
$408,001 - $543,000 10.1
$272,001 - $408,000 20.0
$136,001 - $272,000 26.5
$68,001 - $136,000 9.7
$0 - $68,000 4.4

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
13.1430915270128 24.1452991452991

Number Of Homes And Apartments:
6,092

North Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
116.28% 4.57% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,764 / per month

Homeownership Rate

Homeownership
Owners 74.96
Renters 25.04
Vacant 23.65

Housing Market Details

 

Age of Homes

AGE OF North Palm Beach HOMES
2000 or Newer 7.0
1970 - 1999 55.5
1940 - 1969 36.9
1939 or Older 0.5

Types of Homes

TYPE OF North Palm Beach HOMES
Single-Family 34.3
Townhomes 6.0
Small Apt. Buildings 3.8
Apt. Complexes 55.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Palm Beach HOMES
No Bedroom 0.26
1 Bedroom 9.41
2 Bedrooms 48.77
3 Bedrooms 28.85
4 Bedrooms 11.44
5 or more bedrooms 1.27