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


Palm Beach Housing Market Information

With 8,612 people, 4,694 houses or apartments, and a median cost of homes of $2,891,646, 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 67.08% of the town's housing units. Other types of housing that are prevalent in Palm Beach include single-family detached homes ( 27.83%), row houses and other attached homes ( 2.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.15%). 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, 59.55% 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 ( 37.50%). A lesser amount of the housing stock also hails from before 1939 ( 14.90%). There's also some housing in Palm Beach built between 2000 and later ( 4.71%).

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 -0.64% 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 10.60%, which is higher than appreciation rates in 98.41% 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 2.59%, which equates to an annual appreciation rate of 10.76%.

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.

Average Home Values

 

Median Home Value:
$2,891,646

Palm Beach, FL HOME PRICES

Value Range
> $1,527,000 49.2
$1,145,001 - $1,527,000 3.7
$763,001 - $1,145,000 11.3
$611,001 - $763,000 6.3
$458,001 - $611,000 9.4
$305,001 - $458,000 7.5
$153,001 - $305,000 7.2
$76,001 - $153,000 2.5
$0 - $76,000 2.8

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
0.0644141242607015 0.213675213675214

Number Of Homes And Apartments:
4,694

Rent & Ownership

 

Average Market Rent:
$1,833 / per month

Homeownership Rate

Homeownership
Owners 87.59
Renters 12.41
Vacant 50.86

Housing Market Details

 

Age of Homes

AGE OF Palm Beach HOMES
2000 or Newer 4.7
1970 - 1999 42.9
1940 - 1969 37.5
1939 or Older 14.9

Types of Homes

TYPE OF Palm Beach HOMES
Single-Family 27.8
Townhomes 2.9
Small Apt. Buildings 2.1
Apt. Complexes 67.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Palm Beach HOMES
No Bedroom 1.37
1 Bedroom 14.44
2 Bedrooms 43.75
3 Bedrooms 22.43
4 Bedrooms 10.86
5 or more bedrooms 7.16

Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
86.68% 3.74% 7 10
* 10 is highest