Living in Palm Beach, Florida
Cost of living, income, home prices, rent and demographics of Palm Beach · Census data 2020–2024
Palm Beach has 9,348 residents with a median age of 70.4. The median household income is $168,403 (126% higher than the Florida median), the median home value is $2,000,001, the median rent is $2,311/month.
Palm Beach at a glance
- Population
- 9,348
- Median age
- 70.4State: 42.6
- Median household income
- $168,403State: $74,568
- Median home value
- $2,000,001State: $359,000
- Median rent
- $2,311/moState: $1,669
- Homeowners
- 83.7%
- Bachelor's degree or higher
- 70%
- Average commute
- 24 min
Is Palm Beach a good place to live?
Pros: Median household income 126% higher than the Florida median; an average commute of 24 minutes; a poverty rate of 6.9%.
Cons: Home values 457% higher than the state median; unemployment of 4.9%.
The weather is best in December to March.
Cost of living in Palm Beach
Housing is the biggest part of the cost of living. In Palm Beach the median home value is $2,000,001, 501% higher than the U.S. median. Renters pay a median of $2,311 per month, which is 23.8% of household income. Homeowners with a mortgage pay $4,001 a month in housing costs.
Palm Beach median household income
The median household income in Palm Beach is $168,403 and the income per person is $211,607. 6.9% of residents live below the poverty line (Florida: 12.6%).
Housing in Palm Beach: homes for sale and rent
- Housing units
- 10,507
- Owner-occupied
- 83.7%
- Renter-occupied
- 16.3%
- Vacant
- 47.9%Includes seasonal homes
- Median year built
- 1970
- Average household size
- 1.70
47.9% of homes are vacant most of the year, a sign that Palm Beach has many vacation and second homes.
Palm Beach demographics
- Population
- 9,348
- Median age
- 70.4
- Under 18
- 4.5%
- 65 and older
- 63.5%
- Households
- 5,479
- Foreign-born
- 17.5%
- Veterans
- 7%Adults 18+
Hispanic or Latino can be of any race. Population history of Palm Beach ›
Education in Palm Beach
70% of adults 25 and older in Palm Beach have a bachelor's degree or higher (Florida: 34.1%), and 35.7% have a graduate or professional degree.
Jobs and commute in Palm Beach
- Unemployment rate
- 4.9%State: 4.8%
- Average commute
- 24 minState: 28 min
- Work from home
- 40%
- Drive alone
- 44.3%
- Public transit
- 0.5%
- Walk to work
- 7.1%
- Homes with broadband
- 96.3%
Palm Beach vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palm Beach | 9,348 | $168,403 | $2,000,001 | $2,311 |
| Cloud Lake | 212 | $68,920 | $233,100 | $1,591 |
| Glen Ridge | 289 | $128,125 | $676,700 | $2,188 |
| Westgate | 8,151 | $51,604 | $251,300 | $1,421 |
| Lake Clarke Shores | 3,587 | $156,696 | $573,800 | $1,427 |
| Gun Club Estates | 1,050 | $81,563 | $423,800 | — |
| Schall Circle | 467 | $45,500 | $286,800 | $2,051 |
| Pine Air | 2,258 | $55,881 | $331,800 | $1,569 |
| Mangonia Park | 2,384 | $60,781 | $338,100 | $1,723 |
More for people moving to Palm Beach
Palm Beach ZIP code ›Weather and climate ›Living in Palm Beach: FAQ
What is the median household income in Palm Beach, FL?
The median household income in Palm Beach is $168,403, 126% higher than the Florida median of $74,568 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Palm Beach?
The median home value in Palm Beach is $2,000,001, compared with $359,000 in Florida.
How much is rent in Palm Beach?
The median gross rent in Palm Beach is $2,311 per month, about 23.8% of household income.
Is Palm Beach, FL a good place to live?
Pluses: median household income 126% higher than the Florida median; an average commute of 24 minutes; a poverty rate of 6.9%. Minuses: home values 457% higher than the state median; unemployment of 4.9%.
What is the median age in Palm Beach?
The median age in Palm Beach is 70.4 years (Florida: 42.6).
How long is the commute in Palm Beach?
The average commute to work in Palm Beach is 24 minutes; 40% of workers work from home.
What is the unemployment rate in Palm Beach?
The unemployment rate in Palm Beach is 4.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palm Beach?
70% of adults in Palm Beach have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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