Palm Beach County Real Estate and Livability Trends
In Palm Beach County, Florida, median home values surged from $204,700.00 in 2015 to $368,300.00 in 2022, potentially indicating robust local demand and attractive investment prospects. Taxable income per tax return climbed significantly, pointing to substantial economic growth and rising financial obligations for residents. Real estate taxes also rose sharply, paralleling increasing property... Read more
Palm Beach County Market Trends
Palm Beach County, Florida has experienced notable changes in its real estate market. Median home values surged from $204,700 in 2015 to $368,300 in 2022, surpassing both state and national trends, suggesting robust local demand and potentially strong investment prospects. Residential energy tax credits saw significant highs, peaking at $2,333.78 in 2018, indicating a growing commitment to... Read more
Median Value of Occupied Housing Units in Palm Beach County, Florida Over the Last 8 Years
For those keen on Palm Beach County, Florida, the median home values have shown a solid upward trend, climbing from $204,700 in 2015 to $368,300 in 2022. This surge outpaces both the Florida state median, increasing from $159,000 to $292,200, and the national median, moving from $125,500 to $179,400 over the same period. This robust rise implies a strong local demand and could signal promising investment opportunities, elevated living standards, and a thriving real estate market compared to broader trends.
Residential Energy Tax Credit Per Tax Return in Palm Beach County, FL Over the Last 9 Years
Residential energy tax credits in Palm Beach County, Florida have shown a remarkable upward trend over the last nine years. From $461.61 in 2013 to a significant peak at $2,333.78 in 2018, the credits highlight increasing investments in energy-efficient upgrades. While there was a slight dip to $1,528.48 in 2020, recent data for 2021 shows a recovery with an average credit of $1,888.85. This trend underscores a growing commitment to sustainable living and incentivizes further energy-saving investments in the area.
Average Real Estate Taxes Per Tax Return in Palm Beach County, FL Over the Last 10 Years
Over the past decade, Palm Beach County, Florida has seen a remarkable increase in real estate taxes per tax return, jumping from around $6,803.08 in 2012 to approximately $13,711.65 by 2021. The sharpest rises were between 2016 and 2021, notably reaching $12,246.28 in 2019 and continuing upward. This trend could hint at both rising property values and increased government revenue through taxation, making it essential for investors and potential homeowners to understand these dynamics when considering property in the area.
Percentage of Farm Returns in Palm Beach County, FL Over the Last 10 Years
Over the past decade, the percentage of farm returns in Palm Beach County, Florida, has seen a slow but noticeable decline. From a high of approximately 0.16% in 2014, it has steadily decreased to around 0.12% by 2021. Farm tax returns, which refer to the filings that report income and expenses from farming activities, can provide insight into the economic health and viability of agriculture in an area. This trend could suggest changes in land use, investment shifts, or evolving market conditions, all of which might be key considerations for anyone looking to invest, move to, or build property in Palm Beach County.
Number of Mortgages by Occupancy Type in Palm Beach County, FL Over the Last 5 Years in Palm Beach County
Over the past five years, Palm Beach County, Florida, has seen significant fluctuations in the number of mortgages across different occupancy types. Principal residences have consistently dominated, peaking in 2021 with 113,864 mortgages, likely driven by favorable market conditions. In contrast, second residences and investment properties show more modest and variable figures. The marked decline in second residence mortgages from 2021 to 2022 could hint at shifting buyer priorities or market dynamics. Such shifts in occupancy types offer critical insights for investors, builders, and real estate professionals, potentially affecting property values, insurance premiums, and demand forecasts.
Economic Outlook
In Palm Beach County, Florida, the average taxable income per tax return jumped from approximately $81,046.79 in 2013 to $175,738.99 in 2021, indicating substantial economic growth. Similarly, state and local income taxes have climbed dramatically, from $33,525.59 in 2012 to $106,815.86 in 2021, reflecting higher earnings but also a rising cost of living. Average total tax liability per tax return nearly doubled over the last decade, underlining increasing financial obligations for residents.... Read more
Average Taxable Income per Tax Return in Palm Beach County, FL over the last 9 years
In Palm Beach County, FL, the average taxable income per tax return has seen significant growth over the past nine years, jumping from approximately $81,046.79 in 2013 to $175,738.99 in 2021. Notably, the income rise has been particularly stark since 2017, suggesting a robust economic environment and potentially increased prosperity among residents. This trend could be highly attractive for investors, developers, and businesses looking to tap into a wealthier market, as well as for individuals considering relocation to an area with a rising economic profile.
Average State and Local Income Taxes Per Tax Return in Palm Beach County, FL Over the Last 10 Years
Over the past decade, Palm Beach County, Florida has seen a significant increase in state and local income taxes per tax return, rising from $33,525.59 in 2012 to $106,815.86 in 2021. Noteworthy spikes occurred in 2018 and 2019, with taxes jumping from $44,652.82 to $73,513.67. This trend reflects a substantial increase in the financial obligations for residents, signaling robust economic growth and higher earnings but also raising the cost of living. Investors and potential residents should consider these tax contributions as a key factor in financial planning and property investments in the area.
Average Total Tax Liability Per Tax Return in Palm Beach County, FL Over the Last 10 Years
In Palm Beach County, Florida, the average total tax liability per tax return has shown a remarkable increasing trend over the last decade. Starting at around $21,289.00 in 2012, it saw substantial jumps in years like 2017 and 2020, peaking at $44,404.21 in 2021. This upward trajectory suggests significant economic growth and rising incomes in the region, highlighting its attractiveness for investments and real estate development, as well as potential cost considerations for residents and businesses alike.
Cost of Living in Palm Beach County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,513 | $1,769 | $1,877 | $1,751 | $1,683 |
| 1 adult 4 children | $2,513 | $1,445 | $1,435 | $1,751 | $1,836 |
| 2 adults 3 children | $2,513 | $1,446 | $1,629 | $1,751 | $1,441 |
| 1 adult 3 children | $2,513 | $1,180 | $1,187 | $1,751 | $1,581 |
| 2 adults 2 children | $1,881 | $1,183 | $1,381 | $1,536 | $1,061 |
| 1 adult 2 children | $1,881 | $884 | $939 | $1,536 | $1,125 |
| 2 adults 1 child | $1,881 | $935 | $1,133 | $836 | $927 |
| 1 adult 1 child | $1,881 | $604 | $690 | $836 | $881 |
| 2 adults | $1,538 | $751 | $884 | $0 | $746 |
| 1 adult | $1,258 | $410 | $442 | $0 | $584 |
Safety trends & Data
Palm Beach County, Florida, has experienced a significant reduction in property crimes over the past four years. Larceny-theft incidents dropped from 4,254 in 2019 to just 17 in 2022, and burglary incidents fell from 755 to 4 over the same period. This improved security profile could make the area more appealing to new investors, homeowners, and businesses. The lower crime rate might contribute to reduced insurance premiums and potentially higher property values, positioning Palm Beach County... Read more
Property Crime Trends in Palm Beach County, FL Over the Last 4 Years
Palm Beach County, Florida, has seen a notable decrease in property crimes over the past four years. In 2019, larceny-theft was predominant with 4,254 incidents, but by 2022, this number had dropped sharply to just 17. Similarly, burglary incidents fell from 755 in 2019 to 4 by 2022. The trends suggest a significant improvement in the county's overall security profile, which may indicate a promising environment for new investors, homeowners, and businesses. Reduced property crime could potentially lead to lower insurance premiums and higher property values, making Palm Beach County an attractive option for real estate agents and appraisers.
Demographics
Palm Beach County's demographic landscape offers a fascinating mix of diversity, educational attainment, and age distribution. The gender split shows a slight female majority. Educational levels reflect a well-rounded community with a significant number of residents holding bachelor's and graduate degrees. Age-wise, the county might lean towards an older demographic, with a notable proportion aged over 55. Racially, the majority identify as White, followed by substantial Black or African... Read more
Race Distribution in Palm Beach County, Florida (2022)
Educational Attainment in Palm Beach County, Florida (2022)
Age Distribution in Palm Beach County, Florida
Citizen Population in Palm Beach County, Florida (2022)
Political Trends & Data
In Palm Beach County, Florida, the 2020 U.S. Presidential Election results hinted at a notable preference for Democratic candidates over Republicans. Minor parties like the Libertarian and Green had minimal support, potentially showing a strong lean towards the Democratic party. This trend could be reflective of the county's broader political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Palm Beach County, Florida, the Democratic vote share for the 2020 U.S. Presidential Election seemed notably higher than the Republican share, potentially reflecting a broader trend toward Democratic preference in this area. Minor party candidates, including the Libertarian and Green parties, appear to have garnered minimal support, suggesting limited impact on the overall election results. This data might indicate a significant lean towards the Democratic party within this county.
43.29% of voters voted for the Republican party in the 2020 Presidential Election
56.08% of voters voted for the Democrat party in the 2020 Presidential Election
0.39% of voters voted for the Livertarian party in the 2020 Presidential Election
0.12% of voters voted for the Green party in the 2020 Presidential Election
0.12% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Palm Beach County, Florida's student-to-teacher ratio hit a high of 18 in 2023, well above the national average of 14. Education quality, closely tied to this ratio, can influence property values and sway families' relocation choices. Real estate agents and developers might see this as a signal for where to focus their efforts, especially if targeting areas with differing educational demand metrics. Similarly, insurance agents and investors may want to assess how these... Read more
Student-to-teacher ratio in Palm Beach County, Florida over the last 10 years
Over the past decade, Palm Beach County, Florida has seen its student-to-teacher ratio fluctuate, significantly peaking at 18 students per teacher in 2023, above the national average of 14 students per teacher. Such variations can affect the quality of education, essential for families considering relocation, and factor into appraisals since education quality often correlates with property values. These trends might also inform decisions by real estate agents and developers about where to focus their efforts, especially if investing in areas with varying educational demand metrics. Insurance agents and investors may want to consider how these fluctuations impact overall community stability and education-related claims or needs.
