North Palm Beach FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



Map Loading GIF Please wait, loading your map...

Highest
Lowest




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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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 13,057, 6,212 total housing units (homes and apartments), and a median house value of $373,847, 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 54.86% of the village's housing units. Other types of housing that are prevalent in North Palm Beach include single-family detached homes ( 35.12%), row houses and other attached homes ( 5.75%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.10%). 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, 56.39% 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 ( 36.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.88%).

Vacant housing appears to be an issue in North Palm Beach. Fully 22.58% 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 80.45% over the last ten years, which is an average annual home appreciation rate of 6.08%, 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 9.29%, which is higher than appreciation rates in 97.31% 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 0.53%, which equates to an annual appreciation rate of 2.13%.

Relative to Florida, our data show that North Palm Beach's latest annual appreciation rate is higher 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:
$373,847

North Palm Beach, FL HOME PRICES

Value Range
> $1,404,000 5.8
$1,053,001 - $1,404,000 7.1
$702,001 - $1,053,000 10.7
$562,001 - $702,000 9.2
$421,001 - $562,000 13.8
$281,001 - $421,000 20.5
$140,001 - $281,000 23.1
$70,001 - $140,000 6.4
$0 - $70,000 3.3

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
12.9518248175182 22.1276595744681

Number Of Homes And Apartments:
6,212

North Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
167.73% 5.18%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,087 / per month

Homeownership Rate

Homeownership
Owners 73.91
Renters 26.09
Vacant 22.58

Housing Market Details

 

Age of Homes

AGE OF North Palm Beach HOMES
2000 or Newer 7.9
1970 - 1999 55.6
1940 - 1969 36.2
1939 or Older 0.3

Types of Homes

TYPE OF North Palm Beach HOMES
Single-Family 35.1
Townhomes 5.7
Small Apt. Buildings 4.1
Apt. Complexes 54.9
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF North Palm Beach HOMES
No Bedroom 0.36
1 Bedroom 7.93
2 Bedrooms 48.11
3 Bedrooms 28.22
4 Bedrooms 13.36
5 or more bedrooms 2.03