Palm Beach is a somewhat small coastal town (i.e. on the ocean, a bay, or inlet) located in the state of Florida. With a population of 8,751 people and four constituent neighborhoods, Palm Beach is the 217th largest community in Florida.
Palm Beach home prices are not only among the most expensive in Florida, but Palm Beach real estate also consistently ranks among the most expensive in America.
Palm Beach is a decidedly white-collar town, with fully 92.58% of the workforce employed in white-collar jobs, well above the national average. Overall, Palm Beach is a town of managers, sales and office workers, and professionals. There are especially a lot of people living in Palm Beach who work in sales jobs (22.06%), management occupations (18.73%), and business and financial occupations (12.02%).
Of important note, Palm Beach is also a town of artists. Palm Beach has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Palm Beach’s character.
One interesting thing about the economy is that relatively large numbers of people worked from their home: 27.53% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Another notable thing is that Palm Beach is an extremely popular destination for tourists and seasonal residents. So much of the population is seasonal such that the town’s population swells significantly during the vacation season, and drops again when the season ends. Because of this, much of the local economy is centered around tourism; some businesses may be operated only during the high season. During the low season, year-round residents will notice that the city is a substantially quieter place to live.
In addition, Palm Beach is home to many people who could be described as "urban sophisticates". Urban sophisticates are people who are both educated and wealthy, and thus tend to be older, richer, and more established than young professionals. "Urban sophisticates" is not just about being educated and well-off financially: it is a point of view and state of mind, one that you might call 'urbaneness'. But such people can and do regularly live in small towns, suburbs and rural areas, as well as in big cities. They read, support the arts and high-end shops, and love travel.
One of the nice things about Palm Beach is that it is nautical, which means that parts of it are somewhat historic and touch the ocean or tidal bodies of water, such as inlets and bays. Because of this, visitors and locals will often go to these areas to take in the scenery or to enjoy waterfront activities.
If knowledge is power, Palm Beach is a pretty powerful place. 62.07% of the adults in Palm Beach have earned a 4-year college degree, masters degree, MD, law degree, or even PhD. Compare that to the national average of 21.84% for all cities and towns.
The per capita income in Palm Beach in 2010 was $155,531, which is wealthy relative to Florida and the nation. This equates to an annual income of $622,124 for a family of four.
The people who call Palm Beach home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Palm Beach residents report their race to be White, followed by Asian. Important ancestries of people in Palm Beach include German, English, Irish, Russian, and Italian.
The most common language spoken in Palm Beach is English. Other important languages spoken here include Spanish and German/Yiddish.