1120 Royal Palm Way, Boca Raton
Palm Beach County Real Estate - Boca Raton
Boca Raton is in South East Florida. It's population as recorded in the 2010 Census was 84,392.
The median age for residents of Boca Raton is 45.4. Around 22.8% of Boca Raton households include school aged children and 33.8% of households include individuals aged 65 years or over. Census records indicate 88.4% of the Boca Raton population are White, 5.2% are Black or African American, .1% American Indian, 2.4% Asian and 1.6% are Two or more Races.
There are 44,539 housing units in Boca Raton. 7,761 (17.4%) of these were reported as vacant in the 2010 Census. Boca Raton is a tourist destination, 64% (4,973) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 12,218 residential rental units in Boca Raton. 10,963 of them were occupied in 2010 providing a residential rental vacancy rate of 9.7%.
Boca Raton 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 | |
|---|---|---|---|---|
| 1160 Royal Palm Way | Single Family | 4,375 | B |
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| 1080 Royal Palm Way | Single Family | 3,729 | B |
|
| 1040 Royal Palm Way | Single Family | 7,615 | A |
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| 1200 Royal Palm Way | Single Family | 6,043 | A |
|
| 499 Thatch Palm Dr | Single Family | 3,416 | B |
|
| 1159 Royal Palm Way | Single Family | 9,842 | A |
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| 1222 Royal Palm Way | Single Family | 5,842 | A |
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| 1000 Royal Palm Way | Single Family | 8,336 | A |
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| 481 Thatch Palm Dr | Single Family | 4,068 | B |
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| 1241 Royal Palm Way | Single Family | 9,316 | A |
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| 474 E Camino Real | Single Family | 8,313 | A |
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| 1280 Royal Palm Way | Single Family | 10,018 | A |
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| 455 Thatch Palm Dr | Single Family | 3,440 | B |
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| 1015 Spanish River Rd | Multi-family - 10 units or more | 93,879 | B |
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| 1281 Royal Palm Way | Single Family | 4,106 | B |
|
| 450 E Camino Real | Single Family | 4,309 | A |
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| 1075 Spanish River Rd | Multi-family - 10 units or more | 11,541 | B |
|
Local Household Income
The median household income in this part of Florida is $95,812. The bottom 10% of the population earn less than $27,707 per year. The top 10% earn more than $356,660 per year. The top 1% earn more than $682,110 per year. Most renters earn between $39,432 (20th percentile) and $73,884 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $191,624 and $239,530.
The tax assessed value of this property places it in percentile 98 of all properties in this area. This suggests it would appeal to someone earning around $616,857 per year who should qualify for a mortgage between $1,233,714 and $1,542,143.
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 $1,432. Most renters earn between $3,286 and $6,157 per month. They typically spend 36% of their monthly income on rent. Most rents fall in the $1,042 (20th percentile) to $2,015 (80th percentile) range. The residential vacancy rate is 5%.
This property falls in percentile 98 of all properties in this area. This corresponds to a rent of $3,618 per month and a monthly household income of $10,292 ($123,504 per year)
Nearby Companies
4-101 Royal Palm Way
1000 Royal Palm Way
1000 Royal Palm Way
474 E Camino Real
474 E Camino Real
499 Thatch Palm Dr
1120 Royal Palm Way
1075 Spanish River Rd
1015 Spanish River Rd
1015 Spanish River Rd
1035 Spanish River Rd
481 Thatch Palm Dr