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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 1,424, 804 total housing units (homes and apartments), and a median house value of $562,434, 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 97.78% of the town's housing units. Other types of housing that are prevalent in South Palm Beach include row houses and other attached homes ( 1.94%). 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 South Palm Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 91.00% 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 ( 17.94%). A lesser amount of the housing stock also hails from before 1939 ( 0.68%).
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's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Palm Beach during the period has been just -1.79%, which is lower than 80% of US communities.
Appreciation rates are so strong in South Palm Beach that despite a nationwide downturn in the housing market, South Palm Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Palm Beach appreciation rates continue to be some of the highest in America, at 7.90%, which is higher than appreciation rates in 86.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Palm Beach. South Palm Beach appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.
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 50% of the other cities and towns in Florida.
|$1,024,001 - $1,365,000||5.1|
|$683,001 - $1,024,000||9.3|
|$546,001 - $683,000||8.0|
|$410,001 - $546,000||8.6|
|$273,001 - $410,000||24.3|
|$137,001 - $273,000||25.5|
|$68,001 - $137,000||4.8|
|$0 - $68,000||4.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF South Palm Beach HOMES|
|2000 or Newer||0.5|
|1970 - 1999||80.9|
|1940 - 1969||17.9|
|1939 or Older||0.7|
|TYPE OF South Palm Beach HOMES|
|Small Apt. Buildings||0.2|
|SIZE OF South Palm Beach HOMES|
|5 or more bedrooms||0.00|