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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Palm Beach, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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, FL Housing Market Trends

With 9,235 people, 5,370 houses or apartments, and a median cost of homes of $3,432,746, 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 68.56% of the town's housing units. Other types of housing that are prevalent in Palm Beach include single-family detached homes ( 26.09%), duplexes, homes converted to apartments or other small apartment buildings ( 3.58%), and a few row houses and other attached homes ( 1.77%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

Dwellings in Palm Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 58.05% 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 ( 36.92%). A lesser amount of the housing stock also hails from before 1939 ( 11.60%). There's also some housing in Palm Beach built between 2000 and later ( 6.62%).

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

In the last 10 years, Palm Beach has experienced some of the highest home appreciation rates of any community in the nation. Palm Beach real estate appreciated 188.44% over the last ten years, which is an average annual home appreciation rate of 11.17%, putting Palm Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Palm Beach 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 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 7.63%, which is higher than appreciation rates in 79.27% 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 1.92%, which equates to an annual appreciation rate of 7.90%.

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

Average Home Values

Median Home Value

$3,432,746

Palm Beach, FL Home Prices
> $1,182,000
$887,001 - $1,182,000
$591,001 - $887,000
$473,001 - $591,000
$355,001 - $473,000
$236,001 - $355,000
$118,001 - $236,000
$59,001 - $118,000
$0 - $59,000
66.3%
66.3%
5.7%
5.7%
9.9%
9.9%
7.8%
7.8%
3.6%
3.6%
2.0%
2.0%
2.4%
2.4%
0.0%
0.0%
2.3%
2.3%
0% 100.0%
% of Homes
Very High

for Florida

Very High

for nation

Number of Homes And Apartments:

5,370

Palm Beach Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,360 / per month

Homeownership Rate

Owners
Renters
84.1%
84.1%
15.9%
15.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
47.8%
47.8%
52.2%
52.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.6%
6.6%
44.9%
44.9%
36.9%
36.9%
11.6%
11.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
26.1%
26.1%
1.8%
1.8%
3.6%
3.6%
68.6%
68.6%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.3%
2.3%
10.0%
10.0%
45.7%
45.7%
22.0%
22.0%
12.3%
12.3%
7.7%
7.7%
0% 100.0%
% of Homes