Most Expensive Palm Beach Neighborhoods
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 8,503 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 94.68% of the workforce employed in white-collar jobs, well above the national average. Overall, Palm Beach is a town of sales and office workers, managers and professionals. There are especially a lot of people living in Palm Beach who work in sales jobs (22.63%), management occupations (19.56%) and business and financial occupations (9.62%).
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.
A relatively large number of people in Palm Beach telecommute to their jobs. Overall, about 25.90% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. 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 a major vacation destination. Much of the town’s population is seasonal: many people own second homes and only live there part-time, during the vacation season. The effect on the local economy is that many of the businesses are dependent on tourist dollars, and may operate only during the high season. As the vacation season ends, Palm Beach’s population drops significantly, such that year-round residents will notice that the city is a much quieter place to live.
In addition, Palm Beach is home to many people who could be described as "urban sophisticates", which are people who are not only wealthy and employed in professional occupations, but highly educated to boot. Urban sophisticates have urbane tastes - whether they reside in a big or small city, a suburb, or a little town. Urban sophisticates support bookstores, quality clothing stores, enjoy luxury travel, and in big cities, they are truly the patrons of the arts, attending and supporting institutions such as opera, symphony, ballet, and theatre.
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.
Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Palm Beach. 61.27% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.
The per capita income in Palm Beach in 2010 was $129,941, which is wealthy relative to Florida and the nation. This equates to an annual income of $519,764 for a family of four. However, Palm Beach contains both very wealthy and poor people as well.
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, Russian, Irish, Italian and Polish.
Palm Beach also has a high percentage of its population that was born in another country: 17.37%.
The most common language spoken in Palm Beach is English. Other important languages spoken here include French and Spanish.
|PALM BEACH INFORMATION||DETAILS|
|NUMBER OF HOMES AND APARTMENTS||4,694|
|PALM BEACH HOME OWNERSHIP|
|% OWNER OCCUPIED||87.59%|
|% RENTER OCCUPIED||12.41%|
|TYPE OF PALM BEACH HOMES|
|SINGLE FAMILY DETACHED||27.83%|
|ROWHOUSES AND ATTACHED HOMES||2.94%|
|SMALL APARTMENT BUILDINGS||2.15%|
|COMPLEXES OR HIGH RISE APARTMENTS||67.08%|
|SIZE OF PALM BEACH HOMES|
|5 OR MORE BEDROOMS||7.16%|
|AGE OF PALM BEACH HOMES|
|NEWER HOMES (2000 OR LATER)||4.71%|
|ESTABLISHED, BUT NOT OLD HOMES (1970-1999)||42.90%|
|WELL-ESTABLISHED, OLD HOMES (1940-1969)||37.50%|
|HISTORIC (1939 OR BEFORE)||14.90%|
|PALM BEACH REAL ESTATE INFORMATION||DETAILS|
|MEDIAN HOME VALUE||$1,092,967|
|MEDIAN RENTAL PRICE||$1,523|
|HOME VALUE RANGE|
|$0 - $74,000||3.04%|
|$74,001 - $147,000||2.14%|
|$147,001 - $295,000||5.16%|
|$295,001 - $442,000||6.06%|
|$442,001 - $589,000||9.85%|
|$589,001 - $736,000||6.62%|
|$736,001 - $1,104,000||13.91%|
|$1,104,001 - $1,473,000||4.45%|
|PEOPLE OF PALM BEACH||DETAILS|
|UNDER 5 YEARS||1.25%|
|5 TO 17||5.50%|
|18 TO 24||1.28%|
|25 TO 34||1.34%|
|35 TO 54||16.38%|
|55 TO 64||17.58%|
|65 YEARS AND OVER||56.66%|
|EDUCATIONAL ATTAINMENT OF ADULTS|
|HIGH SCHOOL GRADUATES||97.29%|
|MEDIAN HOUSEHOLD INCOME||$105,700|
|PER CAPITA INCOME||$129,941|
|INDIVIDUALS BELOW POVERTY LEVEL||3.91%|
|INDUSTRIES PEOPLE WORK IN||Real estate (13.63%)
Professional, scientific, and technical services (12.23%)
Public Service (3.07%)
Information Technology (2.33%)
|BLACK OR AFRICAN AMERICAN||0.70%|
|AMERICAN INDIAN AND ALASKA NATIVE||0.31%|
|NATIVE HAWAIIAN AND OTHER PACIFIC ISLANDERS||0.00%|
|SOME OTHER RACE ALONE||0.11%|
|TWO OR MORE RACES||0.00%|
|HISPANIC OR LATINO (OF ANY RACE)||2.90%|
|ETHNICITIES PRESENT||German (12.78%)
|LANGUAGES SPOKEN||English (84.95%)
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