North Palm Beach FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

North Palm Beach Housing Market Information

With a population of 13,129, 6,255 total housing units (homes and apartments), and a median house value of $342,203, North Palm Beach real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in North Palm Beach, accounting for 55.04% of the village's housing units. Other types of housing that are prevalent in North Palm Beach include single-family detached homes ( 36.09%), row houses and other attached homes ( 4.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.98%). This particular housing mix is relatively uncommon and characteristic of villages that are compact and walkable, and which often have a lively downtown.

Dwellings in North Palm Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 55.16% 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 ( 36.81%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.29%).

Vacant housing appears to be an issue in North Palm Beach. Fully 24.53% 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

In the last 10 years, North Palm Beach has experienced some of the highest home appreciation rates of any community in the nation. North Palm Beach real estate appreciated 74.42% over the last ten years, which is an average annual home appreciation rate of 5.72%, putting North Palm Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, North Palm Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, North Palm Beach appreciation rates have trailed the rest of the nation. In the last twelve months, North Palm Beach's appreciation rate has been 1.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Palm Beach were at 0.30%, which equates to an annual appreciation rate of 1.20%.

Notably, North Palm Beach's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that North Palm Beach's latest annual appreciation rate is lower than 90% 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:
$342,203

North Palm Beach, FL HOME PRICES

Value Range
> $1,228,000 6.7
$921,001 - $1,228,000 6.3
$614,001 - $921,000 11.1
$491,001 - $614,000 10.1
$369,001 - $491,000 16.6
$246,001 - $369,000 22.6
$123,001 - $246,000 19.9
$61,001 - $123,000 4.2
$0 - $61,000 2.5

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
16.6248175182482 26.3829787234043

Number Of Homes And Apartments:
6,255

North Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
161.27% 4.86%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,129 / per month

Homeownership Rate

Homeownership
Owners 75.31
Renters 24.69
Vacant 24.53

Housing Market Details

 

Age of Homes

AGE OF North Palm Beach HOMES
2000 or Newer 8.3
1970 - 1999 54.5
1940 - 1969 36.8
1939 or Older 0.4

Types of Homes

TYPE OF North Palm Beach HOMES
Single-Family 36.1
Townhomes 4.9
Small Apt. Buildings 4.0
Apt. Complexes 55.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Palm Beach HOMES
No Bedroom 0.21
1 Bedroom 7.65
2 Bedrooms 47.31
3 Bedrooms 28.17
4 Bedrooms 14.19
5 or more bedrooms 2.47