South Palm Beach FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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South 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

South Palm Beach Housing Market Information

With 1,471 people, 806 houses or apartments, and a median cost of homes of $619,026, South Palm Beach house prices are not only among the most expensive in Florida, South 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 South Palm Beach, accounting for 97.81% of the town's housing units. Other types of housing that are prevalent in South Palm Beach include single-family detached homes ( 1.01%). 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 South Palm Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 92.60% of the homes in South Palm Beach have two or fewer bedrooms.

There is a lot of housing in South 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 South Palm Beach built between 1940-1969 ( 21.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 0.83%).

A decent proportion of the South Palm Beach housing stock is seasonally occupied. That is, homes and condos in South 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 South Palm Beach housing market speaks to its popularity as a vacation location of choice.

South Palm Beach Home Appreciation Rates

In the last 10 years, South Palm Beach has experienced some of the highest home appreciation rates of any community in the nation. South Palm Beach real estate appreciated 65.98% over the last ten years, which is an average annual home appreciation rate of 5.20%, putting South Palm Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, South 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, South Palm Beach's appreciation rate, at 4.98%, has been at or slightly above the national average. In the latest quarter, South Palm Beach's appreciation rate has been 1.88%, which annualizes to a rate of 7.74%.

Importantly, this makes South 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 South Palm Beach's latest annual appreciation rate is lower than 70% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$619,026

South Palm Beach, FL HOME PRICES

Value Range
> $1,288,000 10.5
$966,001 - $1,288,000 7.0
$644,001 - $966,000 7.9
$515,001 - $644,000 9.2
$386,001 - $515,000 13.1
$258,001 - $386,000 29.4
$129,001 - $258,000 18.8
$64,001 - $129,000 2.2
$0 - $64,000 1.9

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
4.81167883211679 7.87234042553191

Number Of Homes And Apartments:
806

South Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
136.95% 4.30%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,096 / per month

Homeownership Rate

Homeownership
Owners 79.40
Renters 20.60
Vacant 52.28

Housing Market Details

 

Age of Homes

AGE OF South Palm Beach HOMES
2000 or Newer 0.8
1970 - 1999 77.7
1940 - 1969 21.4
1939 or Older 0.0

Types of Homes

TYPE OF South Palm Beach HOMES
Single-Family 1.0
Townhomes 0.9
Small Apt. Buildings 0.3
Apt. Complexes 97.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF South Palm Beach HOMES
No Bedroom 2.84
1 Bedroom 21.14
2 Bedrooms 68.62
3 Bedrooms 7.10
4 Bedrooms 0.30
5 or more bedrooms 0.00

Popular Neighborhoods in South Palm Beach

Zip Codes in South Palm Beach, FL