West Palm Beach, FL 33406 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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West Palm Beach, FL—33406

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$429,000

1.4% YoY Growth

Household Income

$79,700

32.5% YoY Growth

Days on Market

64

17.0% Longer YoY

Home Price Forecast

1.0%

Median Rent

$2,180

6.2% YoY Growth

1-Bed Rent

$1,770

1.8% YoY Growth

2-Bed Rent

$2,120

1.3% YoY Growth

3-Bed Rent

$2,800

10.9% YoY Growth

Other Zip Codes in West Palm Beach, FL

33405 33413 33415 33409 33407 33401

Home Price Trends — West Palm Beach, FL

As of May '26, the median home price in West Palm Beach, FL is $429,000, with a year-over-year change of -1.4%. This indicates that home prices in West Palm Beach, FL are decreasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$429,000	-1.4%
Single Family	$451,000	-0.4%
Condos	$166,000	-7.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — West Palm Beach, FL

As of July '25, Rentcast reports the average rent in West Palm Beach, FL is $2,550, with a year-over-year rent change of 6.2%. Per bedroom, the median rent as of July '25 in West Palm Beach, FL is studios: $1,300, 1-bedrooms: $1,740, 2-bedrooms: $2,240, 3-bedrooms: $3,360, 4-bedrooms: $4,820. The most common rental property sizes in West Palm Beach, FL are 2-bedroom and 3-bedroom, accounting for 61.7% and 16.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,180	$2,550
Studio Rent	$1,300	$1,300
1 Bed Rent	$1,770	$1,740
2 Bed Rent	$2,120	$2,240
3 Bed Rent	$2,800	$3,360
4 Bed Rent	$5,000	$4,820

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% of Rental Stock

Studio

6.0%

1 Bedroom

12.7%

2 Bedrooms

61.7%

3 Bedrooms

16.2%

4 Bedrooms

1.3%

5+ Bedrooms

2.1%

Property Listings — West Palm Beach, FL

As of May '26, Realtor.com reports that the median days on market for a home in West Palm Beach, FL is 64. This is a increase of 17.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$367,000	-5.0%
Listing Count	105	-13.0%
Listings as % of Homes	0.7%	-13.0%
Days on Market	64	17.0%

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Demographics — West Palm Beach, FL

As of the latest ACS Survey released in 2023, West Palm Beach, FL has a population of 26,700, which has remained stable by -0.7% over the past 5 years. West Palm Beach, FL is a moderately popular place for families, as children make up 22.0% of the population. The area has a poorly educated workforce, with 23.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	26,700	-0.7%
% Under 18	22.0%	0.9%
% Seniors	14.1%	10.2%
% WFH	9.3%	121.4%
% w/ College Degree	23.8%	7.2%

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As of the latest ACS Survey released in 2023, West Palm Beach, FL is a predominantly hispanic area, with 53.6% of the population identifying as hispanic. The hispanic population has grown by 2.9% in the last 5 years. The second most common race or ethnicity in West Palm Beach, FL is white, making up 33.4% of the population. Foreign-born residents account for 38.5% of the population in West Palm Beach, FL, and this percentage has increased by 4.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	33.4%	-0.9%
% Black	8.8%	-27.9%
% Hispanic	53.6%	2.9%
% Asian	2.6%	188.9%
% Foreign Born	38.5%	4.9%

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Mortgage and Risk — West Palm Beach, FL

According to HUD data as of 2023, there were 280 mortgage originations in West Palm Beach, FL, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in West Palm Beach, FL. Investor activity is low, as 4.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	280
% Conventional Loans	74.0%
% Government Loans	26.0%
% Investor Loans	4.0%
% Second Loans	3.0%
% Cash Out Refinance	15.0%

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Rentals and Section 8 — West Palm Beach, FL

As of 2024, the percent of homes in West Palm Beach, FL under the Section 8 program is 3.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In West Palm Beach, FL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	100
Total Units Section 8	100
% Rentals under Section 8	3.3%
% Occupied Section 8	83.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$110	$1,770	$1,660
2 Bedroom	-$140	$2,120	$1,980
3 Bedroom	-$210	$2,800	$2,590
4 Bedroom	-$1,910	$5,000	$3,090