Palm Beach Gardens, FL Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Palm Beach Gardens, FL Housing Market Trends

With a population of 57,704, 24,191 total housing units (homes and apartments), and a median house value of $460,801, Palm Beach Gardens house prices are not only among the most expensive in Florida, Palm Beach Gardens real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Palm Beach Gardens, accounting for 47.98% of the city's housing units. Other types of housing that are prevalent in Palm Beach Gardens include large apartment complexes or high rise apartments ( 21.40%), row houses and other attached homes ( 17.70%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 12.18%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Palm Beach Gardens. Owner-occupied housing accounts for 73.29% of Palm Beach Gardens's homes, and 56.06% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Palm Beach Gardens 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 Palm Beach Gardens built between 2000 and later ( 35.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.27%).

Vacant housing appears to be an issue in Palm Beach Gardens. Fully 19.85% of the housing stock is classified as vacant. Left unchecked, vacant Palm Beach Gardens homes and apartments can be a drag on the real estate market, holding Palm Beach Gardens 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.

Palm Beach Gardens Home Appreciation Rates

In the last 10 years, Palm Beach Gardens has experienced some of the highest home appreciation rates of any community in the nation. Palm Beach Gardens real estate appreciated 93.28% over the last ten years, which is an average annual home appreciation rate of 6.81%, putting Palm Beach Gardens in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Palm Beach Gardens definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Palm Beach Gardens's appreciation rate, at 6.31%, has been at or slightly above the national average. In the latest quarter, Palm Beach Gardens's appreciation rate has been 2.17%, which annualizes to a rate of 8.96%.

Relative to Florida, our data show that Palm Beach Gardens's latest annual appreciation rate is lower than 70% 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 city. Individual neighborhoods within Palm Beach Gardens differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palm Beach Gardens - 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 Palm Beach Gardens real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$460,801

Palm Beach Gardens, FL HOME PRICES

> $1,238,000
6.9%
6.9%
$929,001 - $1,238,000
4.9%
4.9%
$619,001 - $929,000
15.3%
15.3%
$495,001 - $619,000
13.3%
13.3%
$371,001 - $495,000
17.8%
17.8%
$248,001 - $371,000
23.8%
23.8%
$124,001 - $248,000
13.1%
13.1%
$62,001 - $124,000
2.0%
2.0%
$0 - $62,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for FL

Value Relative To Nation

Number Of Homes And Apartments:
24,191

Palm Beach Gardens Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
161.45% 4.63%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,362 / per month

Homeownership Rate

Owners
73.3%
73.3%
Renters
26.7%
26.7%
Vacant
19.9%
19.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
35.5%
35.5%
1970 - 1999
57.1%
57.1%
1940 - 1969
7.3%
7.3%
1939 or Older
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.0%
48.0%
Townhomes
17.7%
17.7%
Small Apt. Buildings
12.2%
12.2%
Apt. Complexes
21.4%
21.4%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.8%
0.8%
1 Bedroom
5.3%
5.3%
2 Bedrooms
32.2%
32.2%
3 Bedrooms
39.6%
39.6%
4 Bedrooms
16.4%
16.4%
5 or more bedrooms
5.6%
5.6%
0.0% 100.0%
% OF HOMES