Rent, population, and median household income are important factors to consider for a 1031 exchange in Palm Beach due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Palm Beach, Florida is a part of the Miami-Fort Lauderdale-West Palm Beach, FL metropolitan area area, and contains zip code 33480.
Palm Beach Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Palm Beach, FL metropolitan area area was $1,503, which is 24.21% higher than 2014 average rent. This represents a compounded annual growth rate of 4.43%. 2019 vacancy in Palm Beach, FL was 6.00%.
The total population of the city of Palm Beach, FL has grown 5.44% since 2010. As of 2018, the population was 8,802. The median household income of the Palm Beach was $133,026, which is 120.63% higher than the national average.
- metropolitan area area Miami-Fort Lauderdale-West Palm Beach, FL
- avg rent $1,503
- rent growth 24.21%
- vacancy 6.00%
- median income $133,026
- population (2018) 8,802
- population growth 5.44%
- vs. nat'l avg 120.63%
- zip code 33480