With a population of 37,633, 11,188 total housing units (homes and apartments), and a median house value of $290,219, 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 69.90% 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 ( 14.15%), row houses and other attached homes ( 9.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.69%).
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 79.22% of Royal Palm Beach's homes, and 69.81% 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 ( 31.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.62%).
Vacant housing appears to be an issue in Royal Palm Beach. Fully 11.31% of the housing stock is classified as vacant. Left unchecked, vacant Royal Palm Beach homes and apartments can be a drag on the real estate market, holding Royal Palm Beach real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Homes have actually lost value in Royal Palm Beach over the last then years, as home values have seen a decline of 23.06% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Royal Palm Beach home appreciation rates at 2.59%, which equates to an annual appreciation rate of 10.76%.
Appreciation rates are so strong in Royal Palm Beach that despite a nationwide downturn in the housing market, Royal Palm Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Royal Palm Beach appreciation rates continue to be some of the highest in America, at 8.93%, which is higher than appreciation rates in 95.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Royal Palm Beach. Royal 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 Royal Palm Beach's latest annual appreciation rate is lower than 50% 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.
|$1,114,001 - $1,486,000||0.3|
|$743,001 - $1,114,000||1.4|
|$594,001 - $743,000||1.9|
|$446,001 - $594,000||13.9|
|$297,001 - $446,000||25.2|
|$148,001 - $297,000||43.5|
|$74,001 - $148,000||9.4|
|$0 - $74,000||3.8|
|Value Relative to Nation||Value Relative to State|
|AGE OF Royal Palm Beach HOMES|
|2000 or Newer||31.7|
|1970 - 1999||65.7|
|1940 - 1969||2.6|
|1939 or Older||0.0|
|TYPE OF Royal Palm Beach HOMES|
|Small Apt. Buildings||5.7|
|SIZE OF Royal Palm Beach HOMES|
|5 or more bedrooms||6.41|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2016 Q3
|* 10 is highest|