West Palm Beach, FL—33407
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — West Palm Beach, FL
As of Oct '25, the median home price in West Palm Beach, FL is $338,000, with a year-over-year change of -5.6%. This indicates that home prices in West Palm Beach, FL are decreasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $338,000 | -5.6% |
| Single Family | $352,000 | -4.3% |
| Condos | $286,000 | -9.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $222,000 | -6.7% |
2 Bed | $272,000 | -8.7% |
3 Bed | $399,000 | -4.1% |
4 Bed | $467,000 | -3.5% |
| 5 Bed | $877,000 | 1.4% |
% of Housing Stock
Rental Trends — West Palm Beach, FL
As of July '25, Rentcast reports the average rent in West Palm Beach, FL is $2,560, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in West Palm Beach, FL is studios: $1,530, 1-bedrooms: $1,960, 2-bedrooms: $2,590, 3-bedrooms: $3,270, 4-bedrooms: $4,090. The most common rental property sizes in West Palm Beach, FL are 2-bedroom and 3-bedroom, accounting for 43.8% and 22.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,560 |
| Studio Rent | $1,280 | $1,530 |
| 1 Bed Rent | $1,900 | $1,960 |
| 2 Bed Rent | $2,400 | $2,590 |
| 3 Bed Rent | $3,000 | $3,270 |
| 4 Bed Rent | $3,200 | $4,090 |
% of Rental Stock
Property Listings — West Palm Beach, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in West Palm Beach, FL is 84. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $415,000 | -6.0% |
Listing Count | 254 | -5.0% |
| Listings as % of Homes | 1.4% | -5.0% |
Days on Market | 84 | -6.0% |
Demographics — West Palm Beach, FL
As of the latest ACS Survey released in 2023, West Palm Beach, FL has a population of 34,700, which has increased by 12.3% over the past 5 years. West Palm Beach, FL is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 26.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,700 | 12.3% |
% Under 18 | 21.6% | -2.3% |
% Seniors | 15.1% | 30.2% |
% WFH | 7.0% | 133.3% |
% w/ College Degree | 26.2% | 14.9% |
As of the latest ACS Survey released in 2023, West Palm Beach, FL is a predominantly black area, with 54.7% of the population identifying as black. The black population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in West Palm Beach, FL is white, making up 20.8% of the population. Foreign-born residents account for 25.8% of the population in West Palm Beach, FL, and this percentage has decreased by 5.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 20.8% | -2.3% |
% Black | 54.7% | -7.1% |
% Hispanic | 20.4% | 18.6% |
% Asian | 1.6% | 60.0% |
% Foreign Born | 25.8% | -5.8% |
Mortgage and Risk — West Palm Beach, FL
According to HUD data as of 2023, there were 460 mortgage originations in West Palm Beach, FL, of which 65.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in West Palm Beach, FL. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 460 |
% Conventional Loans | 65.0% |
% Government Loans | 35.0% |
% Investor Loans | 2.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
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 18.7%. This is considered high, suggesting that the neighborhood is heavily 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 | 1,230 |
Total Units Section 8 | 1,211 |
% Rentals under Section 8 | 18.7% |
% Occupied Section 8 | 82.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$230 | $1,900 | $1,670 |
| 2 Bedroom | -$410 | $2,400 | $1,990 |
| 3 Bedroom | -$400 | $3,000 | $2,600 |
| 4 Bedroom | -$90 | $3,200 | $3,110 |
Affordability — West Palm Beach, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $338,000 |
| Median Household Income | $56,600 |