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Housing Profile
Palm Beach County, Florida
- Population, 2007: 1295036. Palm Beach County ranks # 3 of Florida's 67 counties in population.
- Homeownership Rate, 2007: 74.2%. Statewide, Florida's homeownership rate is
70.4%.
Population Projections
- In 2030, Palm Beach County is projected to have a population of
1729498, ranking it # 3 of Florida's 67 counties.
Projected Total Population, Palm Beach County, 2007-2030
Housing Market
Existing Home Values (Based on County Property Appraisers' Just Value)
- Single Family Home, average just value, 2008: $412722. (Statewide, the average just value of a
single family home in Florida in 2008 was $248425).
- Mobile Home, average just value, 2008: $66047.
- Condominium, average just value, 2008: $212527.
* -100 means less than 25 observations
* -200 means less than 2/3 of observations have valid year built entries
* -300 means less than 2/3 of observations have valid square footage entries
* -400 means no observations
Home Sales Prices
- The average sales price for a single family home was $653035 in 2007.
The median sales price that year was $369972, compared to a statewide
median sales price of $240000.
-
* -100 means less than 25 observations.
* -200 means less than 2/3 of observations have valid entries for that year.
* -300 means less than 2/3 of observations have valid square footage entries.
* -400 means no observations.
Median Sales Price for Single Family Homes and Condominiums, Palm Beach County, 1996-2007
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| Place | Housing Type | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 |
| Palm Beach County | Condominiums | 102500 |
103000 |
102500 |
104000 |
120000 |
128345 |
142009 |
172000 |
205000 |
253738 |
272070 |
249550 |
| Palm Beach County | Single Family Homes | 127900 |
133000 |
134900 |
142000 |
159000 |
173990 |
197518 |
239665 |
296000 |
370000 |
375000 |
369972 |
Notes:
* -100 means less than 25 observations.
* -200 means less than 2/3 of observations have valid entries for that year.
* -300 means less than 2/3 of observations have valid square footage entries.
* -400 means no observations.
Sources: County property appraiser tax rolls, compiled by Shimberg Center - Florida Housing Data Clearinghouse.
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Rents
- The median rent paid by Palm Beach County households in 2000 was $739 per month, compared to a statewide median rent of $641.
- In Palm Beach County and the surrounding metro area, the
HUD Fair Market Rent in 2009, representing rent for
a typical modest apartment, was $936 for a studio
apartment, $1096 for a one-bedroom, $1294 for a two-bedroom, $1830 for a
three-bedroom, and $1885 for a four-bedroom unit.
Households by Monthly Rent Paid, Palm Beach County,2000
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| Place | No Cash Rent | less than 200 | between 200 and 299 | between 300 and 499 | between 500 and 749 | between 750 and 999 | between 1000 and 1499 | 1500 or more |
| Palm Beach County | 5872 | 3116 |
2933 |
13686 |
39210 |
31406 |
17081 |
6657 |
Affordable Housing Needs
Cost Burden, General
- "Cost-burdened" households pay more than 30% of income for rent or mortgage costs. In 2007, 153523 Palm Beach County households (28%) pay more than 30% of income for housing. By comparison, 0% of households statewide are cost-burdened.
- 66049 households in Palm Beach County (12%) pay more than 50% of income for housing.
Households by Cost Burden, Palm Beach County, 2007
** The Household Demographic Data Access Tool allows users to combine any of the variables below
to create a custom report. For example, a user could find the number of 1-2 person renter households age 65 and older who pay more than 50% of income
for housing by selecting household size, householder age, and
household income as indicators.
Homeowners and Renters
Households by Homeowner/Renter Status and Cost Burden, Palm Beach County, 2007
Household Income
- In the following table, household income is measured as a
percentage of the median income for the county or area, adjusted for
family size. In Palm Beach County and the surrounding metro
area, the HUD-estimated median income for a family of four is
$66000 in 2008.
Households by Income and Cost Burden, Palm Beach County, 2007
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| Household Income as Percentage of Area Median Income |
Amount of Income Paid for Housing |
| 0-30% | 30-50% | 50% or more |
| <=30% AMI | 16034 | 7873 |
32827 |
| 30.01-50% AMI | 20811 | 18870 |
17579 |
| 50.01-80% AMI | 57574 | 29112 |
10353 |
| 80.01+% AMI | 291095 | 31619 |
5290 |
| Total | 385514 | 87474 |
66049 |
Notes:
Housing Needs Assessment - Population and Household Projection Methodology User Guide.
Click here to get household projections by tenure,
age of householder, income, and cost burden.
Sources: Not Available.
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** For more detailed income categories and to combine with other variables such as age, cost burden, and owner/renter status, try
the Household Demographic Data Access Tool.
Elderly Households
- 179494 households in Palm Beach County (33.3%) are headed by a person age 65 or older in 2007. In comparison, 27.3% of households statewide are headed by elderly persons.
- 314358 of elderly households in Palm Beach County (87.6%) own their homes.
- 46254 elderly households (26%) pay more than 30% of income for rent or mortgage costs.
Elderly Households by Age and Cost Burden, Palm Beach County, 2007
** To learn about all head-of-household age categories and to combine with other variables such as income, cost burden, and owner/renter status, try the Household Demographic Data Access Tool.
Size of Households
- 366214 households in Palm Beach County (68%) are made up of 1-2 persons in 2007. 29% of these households pay more than 30% of income for rent or mortgage costs.
- 128509 households in Palm Beach County (24%%) are made up of 3-4 persons in 2007. 27% of these households pay more than 30% of income for rent or mortgage costs.
- 44287 households in Palm Beach County (8%%) are made up of 5 persons or more in 2007. 28% of these households pay more than 30% of income for rent or mortgage costs.
Households by Size and Cost Burden, Palm Beach County, 2007
** To combine with other variables such as income, head-of-household age, and owner/renter status, try the Household Demographic Data Access Tool.
Disability and Affordable Housing Need
- In 2000, 57715 low-income households included at least one person with a disability age 15 or older. These households had incomes below 60% of the area median income.
Low-Income (<60% AMI) Households Including Persons with Disabilities Age 15+ and Cost Burden, Palm Beach County, 2000
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| Amount of Income Paid for Housing |
| 0-29.9% | 30-49.9% | 50+ % |
| 21435 | 15155 |
21125 |
Single Family Home Size and Age
- In 2008, the median size for a new single-family home in Palm Beach County was 2400 square feet.
Year Structure Built, Palm Beach County, 2000
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| 1939 and earlier | 1940s | 1950s | 1960s | 1970s | 1980s | 1990s | Place |
| 11315 |
9642 |
34272 |
59768 |
137351 |
180593 |
123487 |
Palm Beach County |
Substandard Housing
Housing units are considered to be substandard if they are overcrowded, do not have heat, or lack complete kitchens or plumbing. In 2000,
- 25707 housing units (5.4%
of all units) in Palm Beach County were overcrowded, meaning that they housed more than one person per room, compared to a statewide percentage of 6.5%.
- 9967 units (2.1%) in Palm Beach County did not use home heating fuel, compared to a statewide percentage of 1.8%.
- 2513 units (0.5%) in Palm Beach County lacked complete kitchen facilities, compared to a statewide percentage of 0.5%.
- 2140 units (0.4%) in Palm Beach County lacked complete plumbing facilities, compared to a statewide percentage of 0.4%.
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