Palm Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Palm Beach Neighborhoods Since 2000




Palm Beach, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Palm Beach Housing Market Information

With a population of 8,612, 4,738 total housing units (homes and apartments), and a median house value of $1,412,114, Palm Beach house prices are not only among the most expensive in Florida, Palm Beach real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Palm Beach, accounting for 64.88% of the town's housing units. Other types of housing that are prevalent in Palm Beach include single-family detached homes ( 29.51%), row houses and other attached homes ( 2.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.80%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in Palm Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 57.72% of the homes in Palm Beach have two or fewer bedrooms.

There is a lot of housing in Palm Beach 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 built between 1940-1969 ( 35.16%). A lesser amount of the housing stock also hails from before 1939 ( 14.95%). There's also some housing in Palm Beach built between 2000 and later ( 5.53%).

A decent proportion of the Palm Beach housing stock is seasonally occupied. That is, homes and condos in Palm Beach are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Palm Beach housing market speaks to its popularity as a vacation location of choice.

Palm Beach Home Appreciation Rates

Real estate appreciation rates in Palm Beach's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.35% during the period.

Appreciation rates are so strong in Palm Beach that despite a nationwide downturn in the housing market, Palm Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Palm Beach appreciation rates continue to be some of the highest in America, at 9.83%, which is higher than appreciation rates in 93.37% 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. Palm Beach appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.

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

Relative to Florida, our data show that Palm Beach's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$1,412,114

Palm Beach, FL HOME PRICES

Value Range
> $1,320,000 48.8
$990,001 - $1,320,000 4.9
$660,001 - $990,000 9.6
$528,001 - $660,000 8.4
$396,001 - $528,000 8.0
$264,001 - $396,000 8.4
$132,001 - $264,000 7.1
$66,001 - $132,000 2.2
$0 - $66,000 2.7

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
0.498066330716044 1.06837606837607

Number Of Homes And Apartments:
4,738

Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
110.58% 4.41% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,683 / per month

Homeownership Rate

Homeownership
Owners 88.50
Renters 11.50
Vacant 51.44

Housing Market Details

 

Age of Homes

AGE OF Palm Beach HOMES
2000 or Newer 5.5
1970 - 1999 44.4
1940 - 1969 35.2
1939 or Older 15.0

Types of Homes

TYPE OF Palm Beach HOMES
Single-Family 29.5
Townhomes 2.8
Small Apt. Buildings 2.8
Apt. Complexes 64.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Palm Beach HOMES
No Bedroom 2.09
1 Bedroom 13.40
2 Bedrooms 42.22
3 Bedrooms 22.61
4 Bedrooms 12.59
5 or more bedrooms 7.08