Royal 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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Royal Palm Beach, FL Housing Market Trends

With a population of 40,396, 12,090 total housing units (homes and apartments), and a median house value of $356,354, Royal Palm Beach real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Royal Palm Beach, accounting for 69.00% of the village's housing units. Other types of housing that are prevalent in Royal Palm Beach include large apartment complexes or high rise apartments ( 14.96%), row houses and other attached homes ( 11.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.93%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Royal Palm Beach. Owner-occupied housing accounts for 78.31% of Royal Palm Beach's homes, and 69.97% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Royal 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 Royal Palm Beach built between 2000 and later ( 36.11%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.83%).

Royal Palm Beach Home Appreciation Rates

In the last 10 years, Royal Palm Beach has experienced some of the highest home appreciation rates of any community in the nation. Royal Palm Beach real estate appreciated 111.62% over the last ten years, which is an average annual home appreciation rate of 7.78%, putting Royal Palm Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Royal 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.

NeighborhoodScout's data show that during the latest twelve months, Royal Palm Beach's appreciation rate, at 5.95%, has been at or slightly above the national average. In the latest quarter, Royal Palm Beach's appreciation rate has been 2.16%, which annualizes to a rate of 8.90%.

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

Average Home Values

 

Median Home Value:
$356,354

Royal Palm Beach, FL HOME PRICES

> $1,248,000
0.2%
0.2%
$937,001 - $1,248,000
0.2%
0.2%
$624,001 - $937,000
2.5%
2.5%
$500,001 - $624,000
6.1%
6.1%
$374,001 - $500,000
31.0%
31.0%
$250,001 - $374,000
33.1%
33.1%
$125,001 - $250,000
21.0%
21.0%
$62,001 - $125,000
4.2%
4.2%
$0 - $62,000
1.6%
1.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for FL

Value Relative To Nation

Number Of Homes And Apartments:
12,090

Royal Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
158.48% 4.57%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,222 / per month

Homeownership Rate

Owners
78.3%
78.3%
Renters
21.7%
21.7%
Vacant
8.7%
8.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
36.1%
36.1%
1970 - 1999
60.0%
60.0%
1940 - 1969
3.8%
3.8%
1939 or Older
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.0%
69.0%
Townhomes
11.5%
11.5%
Small Apt. Buildings
3.9%
3.9%
Apt. Complexes
15.0%
15.0%
Mobile Homes
0.6%
0.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
0.9%
0.9%
2 Bedrooms
23.8%
23.8%
3 Bedrooms
50.5%
50.5%
4 Bedrooms
19.4%
19.4%
5 or more bedrooms
5.0%
5.0%
0.0% 100.0%
% OF HOMES