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Real Estate Prices & Overview

The Estate Section median real estate price is $3,218,418, which is more expensive than 92.5% of the neighborhoods in Florida and 91.6% of the neighborhoods in the U.S.

The average rental price in The Estate Section is currently $3,360, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.4% of the neighborhoods in Florida.

The Estate Section is a suburban neighborhood (based on population density) located in Palm Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

The Estate Section real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the The Estate Section neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in The Estate Section. The current real estate vacancy rate here is 52.8%. This is higher than the rate of vacancies in 98.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (49.3%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

The Estate Section is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, The Estate Section is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 52.8% of the residential real estate vacant, the The Estate Section neighborhood claims the distinction of having a higher vacancy rate than 98.9% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

Furthermore, one of the really unique and interesting things about the look and setting of the The Estate Section neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 82.3% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.0% of all neighborhoods in America.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.9% of America's neighborhoods are wealthier than the The Estate Section neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, The Estate Section also has one of the lowest ratings of child poverty in the nation.

In addition, if you are planning to retire in Florida, this neighborhood should be on your must-see list. For many reasons, The Estate Section may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Florida, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 99.6% of neighborhoods in FL. If a Florida retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Modes of Transportation

A unique way of commuting is simply not to. And in the The Estate Section neighborhood, analysis shows that 48.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.9% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the The Estate Section neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 67.5% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 98.0% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the The Estate Section neighborhood has more Russian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.1% of this neighborhood's residents have Russian ancestry and 3.2% have Eastern European ancestry.

The Estate Section is also pretty special linguistically. Significantly, 2.1% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the The Estate Section neighborhood in Palm Beach are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.1% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the The Estate Section neighborhood, 65.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 26.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.2%).

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the The Estate Section neighborhood is English, spoken by 91.8% of households. Other important languages spoken here include Italian, Spanish and Greek.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the The Estate Section neighborhood in Palm Beach, FL, residents most commonly identify their ethnicity or ancestry as Italian (17.7%). There are also a number of people of English ancestry (16.7%), and residents who report Russian roots (11.1%), and some of the residents are also of German ancestry (9.6%), along with some Polish ancestry residents (6.2%), among others. In addition, 18.1% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in The Estate Section neighborhood spend under 15 minutes commuting one-way to work (67.5% of working residents), one of the shortest commutes across America.

Here most residents (35.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (13.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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Schools include:
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