5121 Michigan Ave, West Palm Beach
Palm Beach County Real Estate - Lake Worth
Lake Worth is in South East Florida. It's population as recorded in the 2010 Census was 34,910. Lake Worth is approximately 58 miles from Miami (population 399,457) and around 54 miles from Hialeah (population 224,669).
The median age for residents of Lake Worth is 35. Around 30.1% of Lake Worth households include school aged children and 22.1% of households include individuals aged 65 years or over. Census records indicate 60% of the Lake Worth population are White, 19.8% are Black or African American, 5.6% American Indian, .9% Asian and 4.5% are Two or more Races. Lake Worth has a significant Hispanic population. 39.6% (13,834) of Lake Worth residents are of Hispanic or Latino origin. Of these 19.98% are of Mexican origin, 10.21% Puerto Rican, 10.39% Cuban and 59.4% are of other Hispanic or Latino origin.
There are 16,473 housing units in Lake Worth. 3,515 (21.3%) of these were reported as vacant in the 2010 Census. There are 7,843 residential rental units in Lake Worth. 6,535 of them were occupied in 2010 providing a residential rental vacancy rate of 16.1%.
Lake Worth links:
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Palm Beach County
Palm Beach County is part of the southeast Florida region along with Indian River, St. Lucie, Martin, Miami-Dade, Broward, and Monroe counties. Palm Beach County has 38 cities, towns and villages in total. West Palm Beach is the county's largest city and acts as the county seat. Palm Beach has a population over 1.3 million.
Palm Beach County has many wealthy towns such as Palm Beach, Boca Raton, and Jupiter, as well as a large equestrian population making it one of Florida's wealthiest counties. As a result, real estate prices are comparatively higher in Palm Beach County than most other counties in Florida.
Palm Beach County's major private sector employers are Tenet Healthcare Corporation, Hospital Corporation of America, Florida Power & Light, The Breakers, and Office Depot. Top public sector employers are Palm Beach County School Board, Palm Beach County, Florida Atlantic University, and Boca Raton Community Hospital. Palm Beach County considers agribusiness; aviation, aerospace, and engineering; equestrian; healthcare; green energy; and corporate headquarters to be among its main industries.
Boca Raton is in southern Palm Beach County and is known as the birthplace of the IBM personal computer. It still hosts a large research park focused on technological innovation. The city hosts the headquarters for Office Depot and GEO Group. Florida Atlantic University and Lynn University are both located in Boca Raton.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 2497 Pineway Dr | Single Family | 1,274 | B |
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| 5114 Michigan Ave | Condominium | 936 | B |
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| 5110 Michigan Ave | Condominium | 936 | B |
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| 5116 Michigan Ave | Condominium | 936 | B |
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| 2570 Barkley Dr E | Condominium | 1,052 | B |
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| Michigan Ave | River, lake or submerged land | 0 | L | |
| 5106 Michigan Ave | Condominium | 936 | B |
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| 5104 Michigan Ave | Condominium | 936 | B |
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| 5108 Michigan Ave | Condominium | 936 | B |
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| 2580 Barkley Dr E | Condominium | 969 | B |
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| 2488 Pineway Dr | Single Family | 1,381 | B |
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| 2487 Pineway Dr | Single Family | 936 | B |
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| 5088 Michigan Ave | Condominium | 936 | B |
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| 5090 Michigan Ave | Condominium | 936 | B |
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| 2501 Barkley Dr W | Condominium | 761 | B |
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| 2590 Barkley Dr E | Condominium | 761 | B |
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| 2511 Barkley Dr W | Condominium | 761 | B |
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| 5082 Michigan Ave | Condominium | 936 | B |
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| 5080 Michigan Ave | Condominium | 936 | B |
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| 5086 Michigan Ave | Condominium | 936 | B |
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| 5083 Michigan Ave | Condominium | 936 | B |
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| 5081 Michigan Ave | Condominium | 936 | B |
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| 5084 Michigan Ave | Condominium | 936 | B |
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| 2478 Pineway Dr | Single Family | 1,913 | B |
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| 2600 Barkley Dr E | Condominium | 761 | B |
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| 2473 Pineway Dr | Single Family | 973 | B |
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| 2521 Barkley Dr W | Condominium | 969 | B |
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| 2610 Barkley Dr E | Condominium | 811 | B |
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| 5064 Michigan Ave | Condominium | 936 | B |
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| 5062 Michigan Ave | Condominium | 936 | B |
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| 5060 Michigan Ave | Condominium | 936 | B |
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| 5058 Michigan Ave | Condominium | 936 | B |
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| 5056 Michigan Ave | Condominium | 936 | B |
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| 5063 Michigan Ave | Condominium | 936 | B |
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| 5065 Michigan Ave | Condominium | 936 | B |
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| 2531 Barkley Dr W | Condominium | 1,052 | B |
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| 2605 Barkley Dr E | Undefined - Reserved for Use by Department of Revenue | 8,798 | B |
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| 5050 25th St S | Multi-family - less than 10 units | 3,920 | B |
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| Pinecrest Ct | Vacant Residential | 0 | L | |
| 5047 Michigan Ave | Condominium | 947 | B |
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| 5054 Michigan Ave | Condominium | 936 | B |
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| 5045 Michigan Ave | Condominium | 936 | B |
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| 2478 Pinecrest Ct | Single Family | 1,319 | C |
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| 2463 Pineway Dr | Single Family | 1,014 | B |
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| 2472 Pineway Dr | Single Family | 2,810 | B |
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| 2541 Barkley Dr W | Condominium | 761 | B |
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| 2620 Barkley Dr E | Condominium | 1,052 | B |
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Local Household Income
The median household income in this part of Florida is $45,914. The bottom 10% of the population earn less than $15,196 per year. The top 10% earn more than $110,931 per year. The top 1% earn more than $275,274 per year. Most renters earn between $27,132 (20th percentile) and $44,184 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $91,828 and $114,785.
The tax assessed value of this property places it in percentile 65 of all properties in this area. This suggests it would appeal to someone earning around $60,468 per year who should qualify for a mortgage between $120,936 and $151,170.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $1,048. Most renters earn between $2,261 and $3,682 per month. They typically spend 37% of their monthly income on rent. Most rents fall in the $816 (20th percentile) to $1,318 (80th percentile) range. The residential vacancy rate is 7%.
This property falls in percentile 65 of all properties in this area. This corresponds to a rent of $1,129 per month and a monthly household income of $3,075 ($36,900 per year)
Nearby Companies
2473 Pineway Dr