Quick facts: Palm beach, FL

Quick Facts

125.4
Cost of Living
above US average
1,518,477
Population
0.99
Crime Rate per 1000
below US average
$76,066
Median Income
below US average
$2,599,000
Median House Price
above US average
$17961.48
Average Rent
above US average
11%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $76,066.

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Income Needed to Buy

βœ— Stretch
$815k/year
Based on $2,599,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $815k vs median $76,066
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Income Needed to Rent

⚠ Stretch
$770k/year
Based on $17961.48/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $770k vs median $76,066
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Palm beach, FL

Palm Beach, Florida, is a luxurious town located on the eastern coast of the state, known for its stunning beaches, upscale lifestyle, and historic architecture. Nestled on a barrier island, it is part of a rich community that includes the adjacent West Palm Beach and is accessible via several bridges. This exclusive town features pristine beaches along the Atlantic Ocean, ideal for sunbathing and water sports. Palm Beach is renowned for its vibrant shopping scene, particularly along Worth Avenue, where high-end boutiques and art galleries thrive. The town boasts several prestigious cultural institutions, such as the Norton Museum of Art and the Flagler Museum, reflecting its rich history and artistic flair. The area is characterized by picturesque palm-lined streets and grand estates, many of which were built in the early 20th century. Outdoor enthusiasts can enjoy the scenic trails and parks, while the nearby Everglades offer unique wildlife exploration. Perfect for seasonal residents and visitors alike, Palm Beach exudes an air of sophistication with plenty of fine dining options, exclusive golf clubs, and a lively social scene. The warm, tropical climate enhances its appeal as a sun-soaked paradise year-round.

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