South Palm Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating South Palm Beach Neighborhoods Since 2000




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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

South Palm Beach Housing Market Information

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 Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$562,434

South Palm Beach, FL HOME PRICES

Value Range
> $1,365,000 10.3
$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

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
4.47087776866284 7.26495726495727

Number Of Homes And Apartments:
804

South Palm Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
102.56% 4.18% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,410 / per month

Homeownership Rate

Homeownership
Owners 80.10
Renters 19.90
Vacant 54.21

Housing Market Details

 

Age of Homes

AGE OF South Palm Beach HOMES
2000 or Newer 0.5
1970 - 1999 80.9
1940 - 1969 17.9
1939 or Older 0.7

Types of Homes

TYPE OF South Palm Beach HOMES
Single-Family 0.1
Townhomes 1.9
Small Apt. Buildings 0.2
Apt. Complexes 97.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF South Palm Beach HOMES
No Bedroom 2.16
1 Bedroom 17.65
2 Bedrooms 71.18
3 Bedrooms 9.00
4 Bedrooms 0.00
5 or more bedrooms 0.00

Popular Neighborhoods in South Palm Beach

Zip Codes in South Palm Beach, FL