Palm Beach Gardens FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Palm Beach Gardens, 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 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

Palm Beach Gardens Housing Market Information

With 56,284 people, 24,090 houses or apartments, and a median cost of homes of $398,366, real estate costs in Palm Beach Gardens 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.

Single-family detached homes are the single most common housing type in Palm Beach Gardens, accounting for 46.18% 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 ( 21.75%), row houses and other attached homes ( 17.89%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 12.89%).

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 70.98% of Palm Beach Gardens's homes, and 54.20% 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 ( 34.31%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.92%).

Vacant housing appears to be an issue in Palm Beach Gardens. Fully 19.83% 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 81.57% over the last ten years, which is an average annual home appreciation rate of 6.15%, 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.

Appreciation rates are so strong in Palm Beach Gardens that despite a nationwide downturn in the housing market, Palm Beach Gardens real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Palm Beach Gardens appreciation rates continue to be some of the highest in America, at 5.32%, which is higher than appreciation rates in 70.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Palm Beach Gardens. Palm Beach Gardens appreciation rates in the latest quarter were at 1.88%, which equates to an annual appreciation rate of 7.74%.

Importantly, this makes Palm Beach Gardens one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Florida, our data show that Palm Beach Gardens's latest annual appreciation rate is lower than 60% 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:
$398,366

Palm Beach Gardens, FL HOME PRICES

Value Range
> $1,292,000 5.8
$969,001 - $1,292,000 4.2
$646,001 - $969,000 14.6
$517,001 - $646,000 12.0
$388,001 - $517,000 16.5
$258,001 - $388,000 22.8
$129,001 - $258,000 17.6
$65,001 - $129,000 2.7
$0 - $65,000 3.9

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
12.4029197080292 21.4893617021277

Number Of Homes And Apartments:
24,090

Palm Beach Gardens Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
152.98% 4.63%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,353 / per month

Homeownership Rate

Homeownership
Owners 70.98
Renters 29.02
Vacant 19.83

Housing Market Details

 

Age of Homes

AGE OF Palm Beach Gardens HOMES
2000 or Newer 34.3
1970 - 1999 57.6
1940 - 1969 7.9
1939 or Older 0.1

Types of Homes

TYPE OF Palm Beach Gardens HOMES
Single-Family 46.2
Townhomes 17.9
Small Apt. Buildings 12.9
Apt. Complexes 21.8
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Palm Beach Gardens HOMES
No Bedroom 0.47
1 Bedroom 5.92
2 Bedrooms 34.20
3 Bedrooms 40.29
4 Bedrooms 13.91
5 or more bedrooms 5.22