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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 13,103 people, 6,316 houses or apartments, and a median cost of homes of $569,395, North Palm Beach house prices are not only among the most expensive in Florida, North Palm Beach real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in North Palm Beach, accounting for 56.22% of the village's housing units. Other types of housing that are prevalent in North Palm Beach include single-family detached homes ( 34.15%), duplexes, homes converted to apartments or other small apartment buildings ( 5.66%), and a few row houses and other attached homes ( 3.78%). 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, 59.67% 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 ( 42.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.51%).
Vacant housing appears to be an issue in North Palm Beach. Fully 24.40% 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.
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 162.21% over the last ten years, which is an average annual home appreciation rate of 10.12%, 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.
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 11.17%, which is higher than appreciation rates in 83.01% 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 -0.43%, which equates to an annual appreciation rate of -1.71%.
Relative to Florida, our data show that North Palm Beach's latest annual appreciation rate is higher than 50% 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.
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