Palm Beach Florida Area Home Supply Charts

This page looks at a variety of Palm Beach Florida housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Palm Beach depicts it has a Housing Units of 10,000 which is the highest of all places in the greater Palm Beach region.

Figure 2 illustrates the housing density in the Palm Beach housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Palm Beach shows it has a Housing Density of 2378.8 which is more than all other places in the local area. Comparing housing density to the United States average of 38.9, Palm Beach is substantially bigger. Also, compared to the state of Florida, housing density of 176.0, Palm Beach is markedly bigger.

In Figure 4, Palm Beach area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Palm Beach shows it has a Housing Unit Change of 10.0% which is the second most housing units of all the places in the greater Palm Beach region. The city with the highest change in the housing units in the area is Cloud Lake which indicates a housing units of 29.2% (approximately 2.9 times bigger). Comparing change in the housing units to the United States average of 5.7%, Palm Beach is 75.9% larger. Also, compared to the state of Florida, change in the housing units of 5.1%, Palm Beach is about twice as large.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Palm Beach depicts it has a Renter Percent of 13.4% which is the second smallest when ranked by renter percent of all the other places in the greater region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 86.6% which is the second most of all the places in the greater region.

Palm Beach Florida Home Cost Charts

Looking at the housing data provided in Figure 7, the average Palm Beach home price is illustrated for this community and a useful analysis of affordable housing. Palm Beach depicts it has a Median Home Value of $1,177,100 which is ranked #1 of all places in the greater Palm Beach region. Figure 8 provides aggregate comparative data for the Palm Beach Florida metro area in terms of the median housing rental rate, apartment rent, etc. Palm Beach depicts it has a Median Gross Rent of $1,744 which is the second most of all the places in the metropolitan area. The city with the highest rental rates in the area is Gun Club Estates CDP which depicts a rental rates of $1,804 (only about 3.4% larger). Comparing rental rates to the United States average of $1,062, Palm Beach is 64.2% larger. Also, measured against the state of Florida, rental rates of $1,175, Palm Beach is 48.4% larger.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Palm Beach has the percentage of home price worth less than $50,000 less than most other places in the metro area at 1% of the total. Second, it has the smallest proportion of home price worth between $50,000 to $100,000 at 4% of the total. Third, it has the smallest proportion of home price worth between $100,000 to $200,000 at 5% of the total. Also, it has the second smallest when ranked by home price worth less than $50,000 of all the other places in the metropolitan area in order of home price worth between $200,000 to $300,000 at 5% of the total. In addition, it has the largest proportion of home price worth between $500,000 to $750,000 at 10% of the total and is ranked #1. Furthermore, it has the largest proportion of home price worth between $750,000 to $1,000,000 at 11% of the total and is ranked #1. Next it has the largest proportion of home price worth between $1,000,000 to $1,500,000 at 11% of the total and is ranked #1. Additionally, it has the largest proportion of home price worth between $1,500,000 to $2,000,000 at 11% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Palm Beach depicts it has a Median Owner Cost of $2,627 which is more than all other places in the greater Palm Beach region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Palm Beach metro area. it has a Owner Cost as % of HH Income of 16% which is the second smallest as measured by cost as a percent of household income of all the other places in the local area. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Palm Beach shows it has a Median Home Value as Percent of Median Earnings of 1175% which is ranked #1 of all places in the greater region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Palm Beach depicts it has a Median Owner Costs-With Mortgage of $4,001 which is the most of all places in the greater Palm Beach region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $1,501 which is is the uppermost of the places in the greater Palm Beach region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Palm Beach has the percentage of owner cost less than $300 less than most other places in the local area at 2% of the total. Second, it has the smallest proportion of owner cost between $300 and $500 at 4% of the total. Third, it has the second smallest when sorted by owner cost less than $300 of all the other places in the metro area when sorted by owner cost between $500 and $700 at 4% of the total. Also, it has the smallest proportion of owner cost between $700 and $1,000 at 9% of the total. In addition, it has the largest proportion of owner cost between $2,000 and $2,500 at 12% of the total and is ranked #1. Furthermore, it has the largest proportion of owner cost between $2,500 and $3,000 at 12% of the total and is ranked #1. Next it has the largest proportion of owner cost between $3,000 and $3,500 at 9% of the total and is ranked #1. Additionally, it has the largest proportion of owner cost between $3,500 and $4,000 at 20% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Palm Beach depicts it has a % of Income Owner Costs-With Mortgage of 23% which is the second smallest when sorted by cost as a percent of household income of all the other places in the area. The city with the highest cost as a percent of household income in the area is Gun Club Estates CDP which shows a cost as a percent of household income of 51% (approximately 2.2 times bigger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Palm Beach shows it has a % of Income Owner Costs-No Mortgage of 13% which is the second most cost as a percent of household income of all the places in the greater Palm Beach region. The city with the highest cost as a percent of household income in the area is Westgate CDP which depicts a cost as a percent of household income of 16% (20.3% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Palm Beach has the percentage of rent as a percent of income is less than 10 pct less than most other places in the local area at 7% of the total. Second, it has in the mid range of other places in the greater region in terms of rent as a percent of income is between 10pct to 20pct at 8% of the total. Third, it has the second smallest when sorted by rent as a percent of income is less than 10 pct of all the other places in the local area in terms of rent as a percent of income is between 20pct to 30pct at 11% of the total. Also, it has less than most other places in the greater region in order of rent as a percent of income is between 40pct to 50pct at 33% of the total.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Palm Beach has the smallest proportion of housing cost between $300 and $500 at 4% of the total. Second, it has the smallest proportion of housing cost between $700 and $1,000 at 9% of the total. Third, it has the largest proportion of housing cost between $2,000 and $2,500 at 13% of the total and is ranked #1. Also, it has the largest proportion of housing cost between $2,500 and $3,000 at 37% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $10,001 which is the highest of all places in the greater region. Comparing median real estate taxes paid to the United States average of $2,471, Palm Beach is approximately 4.0 times bigger. Also, compared to the state of Florida, median real estate taxes paid of $1,914, Palm Beach is considerably bigger.

Figure 22 shows the percentage of renters who pay for utilities in Palm Beach Florida. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Palm Beach has one of the largest proportions of pay extra for utilities at 28% of the total and is ranked #2. The only larger city being Lake Clarke Shores with 37%.

Figure 23 shows the rental rate distribution for this area. Palm Beach Florida has the smallest proportion of rent between 750 and 1000 dollars at 14% of the total. Second, it has the largest proportion of rent between $1,500 and $2,500 at 24% of the total and is ranked #1. Third, it has the largest proportion of rent between $2,500 and $3,500 at 4% of the total and is ranked #1.

Palm Beach Florida Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Palm Beach has the smallest proportion of both 2nd mortgage and heloc at 22% of the total. Second, it has the largest proportion of no 2nd mortgage and no heloc at 72% of the total and is ranked #1.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Palm Beach has the largest proportion of houses with mortgages at 72% of the total and is ranked #1.

Palm Beach Florida Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 2.3 which is the smallest when ranked by family members per housing unit of all the other places in the greater region. The city with the highest family members per housing unit in the area is Westgate CDP which depicts a family members per housing unit of 4.7 (about twice as large). Comparing family members per housing unit to the United States average of 3.3, Palm Beach is approximately three-fourths the size. Also, in comparison with the state of Florida, family members per housing unit of 3.4, Palm Beach is approximately three-fourths the size.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 4.6 which is the third most average number of rooms in a house of all other places in the greater Palm Beach region. The city with the highest average number of rooms in a house in the area is Lake Clarke Shores which depicts an average number of rooms in a house of 6.0 (30.4% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1971 which is the third most year built of all other places in the greater Palm Beach region. The city with the highest year built in the area is Lake Clarke Shores which depicts a year built of 1972 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2010 to 2013 in the mid point range of other places in the metro area at 3% of the total. Second, it has the largest proportion of homes built between 1980 to 1989 at 27% of the total and is ranked #1. Third, it has one of the largest proportions of homes built between 1970 to 1979 at 22% of the total and is ranked #2. The only larger city being Pine Air CDP with 24%. Also, it has the smallest proportion of homes built between 1960 to 1969 at 7% of the total. In addition, it has less than most other places in the local area when ranked by homes built between 1950 to 1959 at 4% of the total. Furthermore, it has the largest proportion of homes built between 1940 to 1949 at 13% of the total and is ranked #1.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 661 of the total and is ranked #2. The only larger city being Westgate CDP with 1,566.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. has the percentage of one unit attached less than most other places in the greater region at 2% of the total. Second, it has the largest proportion of 5 to 9 units at 6% of the total and is ranked #1. Third, it has the largest proportion of 10 to 19 units at 19% of the total and is ranked #1. Also, it has the largest proportion of 20 to 49 units at 42% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2014 or later at $2,000,001 of the total and is ranked #1. Second, it has the largest proportion of value of homes built 2010 to 2013 at $2,000,001 of the total and is ranked #1. Third, it has the largest proportion of value of homes built 2000 to 2009 at $2,000,001 of the total and is ranked #1. Also, it has the largest proportion of value of homes built 1990 to 1999 at $968,800 of the total and is ranked #1. In addition, it has the largest proportion of value of homes built 1980 to 1989 at $791,200 of the total and is ranked #1. Furthermore, it has the largest proportion of value of homes built 1970 to 1979 at $728,800 of the total and is ranked #1. Next it has the largest proportion of value of homes built 1960 to 1969 at $2,000,001 of the total and is ranked #1. Additionally, it has the largest proportion of value of homes built 1950 to 1959 at $866,100 of the total and is ranked #1. And then, it has the largest proportion of value of homes built 1940 to 1949 at $2,000,001 of the total and is ranked #1.

Figure 35 compares the total number of occupied housing units to vacant housing units. This analysis can be used to understand any housing shortage in the community. it has the largest proportion of occupied housing units at 51% of the total and is ranked #1.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Palm Beach residents. it has a Owner-Household Size of 1.8 which is the smallest in terms of homeowner household size of all the other places in the surrounding region. The city with the highest homeowner household size in the area is Westgate CDP which shows a homeowner household size of 3.7 (about twice as large).

Figure 37 shows the household size for renters. Palm Beach depicts it has a Renter-Household Size of 1.4 which is the smallest in terms of renter household size of all the other places in the area. The city with the highest renter household size in the area is Westgate CDP which shows a renter household sizes of 4.2 (approximately 2.9 times bigger). Figure 38 shows the year that people who own homes moved into this region. has the percentage of owners moved in 2017 or later in the middle range of other places in the local area at 10% of the total. Second, it has the largest proportion of owners moved in 2015 to 2016 at 27% of the total and is ranked #1. Figure 39 shows the year that people who rent moved into the area. Palm Beach has the percentage of renters moved in 2017 or later less than most other places in the surrounding region at 29% of the total. Second, it has one of the largest proportions of renters moved in 2000 to 2009 at 20% of the total and is ranked #2. The only larger city being Gun Club Estates CDP with 31%. Third, it has one of the largest proportions of renters moved in 1990 to 1999 at 5% of the total and is ranked #2. The only larger city being Glen Ridge with 7%.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2007 which is the second most of all the places in the local area. Figure 41 compares the median year that renters moved into their home. Palm Beach indicates it has a Renter Median Year Moved In of 2013 which is in the mid range of other places in the metro area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the smallest proportion of home using bottled, tank, or lp gas at 84% of the total. Second, it has the largest proportion of home using electricity at 1% of the total and is ranked #1. Third, it has the largest proportion of homes using solar energy at 0% of the total and is ranked #1.