5380 N Ocean Dr, Riviera Beach
Palm Beach County Real Estate - North Palm Beach
North Palm Beach is in South East Florida. It's population as recorded in the 2010 Census was 12,015. North Palm Beach is approximately 68 miles from Hialeah (population 224,669) and around 48 miles from Fort Lauderdale (population 165,521).
The median age for residents of North Palm Beach is 51.8. Around 16.5% of North Palm Beach households include school aged children and 41.9% of households include individuals aged 65 years or over. Census records indicate 93.3% of the North Palm Beach population are White, 2.6% are Black or African American, 0% American Indian, 1.6% Asian and 1.3% are Two or more Races.
There are 7,710 housing units in North Palm Beach. 1,617 (20.9%) of these were reported as vacant in the 2010 Census. North Palm Beach is a tourist destination, 62.7% (1,014) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 1,826 residential rental units in North Palm Beach. 1,596 of them were occupied in 2010 providing a residential rental vacancy rate of 11.7%.
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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 | |
|---|---|---|---|---|
| 5400 N Ocean Dr | Condominium | 1,500 | B |
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| 5420 N Ocean Dr | Condominium | 1,508 | B |
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| 5440 N Ocean Dr | Condominium | 1,400 | B |
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| 5310 N Ocean Dr Unit 502 | Condominium | 3,336 | B |
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| 5310 N Ocean Dr Unit 601 | Condominium | 2,904 | B |
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| 5310 N Ocean Dr Unit 602 | Condominium | 3,336 | B |
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| 5310 N Ocean Dr Unit 701 | Condominium | 2,904 | B |
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| 5310 N Ocean Dr Unit 702 | Condominium | 3,336 | B |
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| 5310 N Ocean Dr Unit 501 | Condominium | 2,904 | B |
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| 5310 N Ocean Dr Unit 402 | Condominium | 3,336 | B |
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| 5310 N Ocean Dr Unit 401 | Condominium | 2,904 | B |
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| 5310 N Ocean Dr Unit 301 | Condominium | 2,904 | B |
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| 5310 N Ocean Dr Unit 302 | Condominium | 3,336 | B |
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| 5196 N Ocean Dr | Single Family | 2,560 | B |
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| 5460 N Ocean Dr | Condominium | 1,200 | B |
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Local Household Income
The median household income in this part of Florida is $85,423. The bottom 10% of the population earn less than $25,310 per year. The top 10% earn more than $291,096 per year. The top 1% earn more than $691,178 per year. Most renters earn between $35,844 (20th percentile) and $67,212 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $170,846 and $213,558.
The tax assessed value of this property places it in percentile 84 of all properties in this area. This suggests it would appeal to someone earning around $190,009 per year who should qualify for a mortgage between $380,018 and $475,023.
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 $1,276. Most renters earn between $2,987 and $5,601 per month. They typically spend 35% of their monthly income on rent. Most rents fall in the $944 (20th percentile) to $1,734 (80th percentile) range. The residential vacancy rate is 6%.
This property falls in percentile 84 of all properties in this area. This corresponds to a rent of $1,865 per month and a monthly household income of $5,954 ($71,448 per year)
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