1031 Exchange Palm Beach, Florida

 

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

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