245 Colonial Ln, Palm Beach
Palm Beach County Real Estate - West Palm Beach
West Palm Beach is in South East Florida. It's population as recorded in the 2010 Census was 99,919.
The median age for residents of West Palm Beach is 38.1. Around 25.5% of West Palm Beach households include school aged children and 26.9% of households include individuals aged 65 years or over. Census records indicate 56.7% of the West Palm Beach population are White, 32.4% are Black or African American, .4% American Indian, 2.2% Asian and 2.6% are Two or more Races. West Palm Beach has a significant Hispanic population. 22.6% (22,601) of West Palm Beach residents are of Hispanic or Latino origin. Of these 12.41% are of Mexican origin, 14.56% Puerto Rican, 23.61% Cuban and 49.41% are of other Hispanic or Latino origin.
There are 54,179 housing units in West Palm Beach. 11,267 (20.7%) of these were reported as vacant in the 2010 Census. There are 25,318 residential rental units in West Palm Beach. 21,180 of them were occupied in 2010 providing a residential rental vacancy rate of 15.9%.
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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 | |
---|---|---|---|---|
223 Colonial Ln | Single Family | 2,163 | B | |
249 Colonial Ln | Single Family | 1,545 | B | |
234 Queens Ln | Single Family | 2,245 | B | |
248 Colonial Ln | Single Family | 2,260 | B | |
242 Colonial Ln | Single Family | 2,186 | B | |
240 Queens Ln | Single Family | 3,130 | A | |
214 Queens Ln | Single Family | 2,644 | B | |
255 Colonial Ln | Single Family | 2,124 | B | |
232 Colonial Ln | Single Family | 1,498 | B | |
215 Colonial Ln | Single Family | 2,331 | B | |
250 Queens Ln | Single Family | 2,365 | B | |
206 Queens Ln | Single Family | 2,974 | A | |
260 Colonial Ln | Single Family | 2,186 | B | |
229 Monterey Rd | Single Family | 1,323 | B | |
235 Queens Ln | Single Family | 2,719 | A | |
249 Monterey Rd | Single Family | 3,521 | A | |
223 Queens Ln | Single Family | 3,460 | A | |
245 Queens Ln | Single Family | 3,298 | A | |
230 Colonial Ln | Single Family | 1,633 | B | |
270 Queens Ln | Single Family | 6,810 | A | |
205 Colonial Ln | Single Family | 2,489 | B | |
221 Queens Ln | Single Family | 3,122 | A | |
249 Queens Ln | Single Family | 3,513 | A | |
200 Queens Ln | Single Family | 4,178 | A | |
266 Colonial Ln | Single Family | 1,711 | B | |
224 Colonial Ln | Single Family | 1,653 | B | |
223 Monterey Rd | Single Family | 2,179 | B | |
255 Monterey Rd | Single Family | 2,780 | B | |
230 Monterey Rd | Single Family | 3,708 | A | |
224 El Pueblo Way | Single Family | 2,239 | B | |
259 Queens Ln | Single Family | 3,192 | A | |
246 Monterey Rd | Single Family | 4,877 | A | |
222 Monterey Rd | Single Family | 4,251 | A | |
201 Queens Ln | Single Family | 4,374 | A | |
208 El Pueblo Way | Single Family | 3,126 | B | |
279 Colonial Ln | Single Family | 3,848 | A | |
230 El Pueblo Way | Single Family | 4,581 | A | |
221 Monterey Rd | Single Family | 2,894 | A | |
216 Colonial Ln | Single Family | 2,490 | A | |
272 Queens Ln | Single Family | 4,222 | A | |
270 Colonial Ln | Single Family | 3,564 | B | |
220 Monterey Rd | Single Family | 4,531 | A | |
236 El Pueblo Way | Single Family | 3,144 | B | |
269 Queens Ln | Single Family | 3,547 | A | |
241 Orange Grove Rd | Single Family | 1,921 | B | |
275 Monterey Rd | Single Family | 3,794 | A | |
177 Queens Ln | Single Family | 5,061 | A | |
266 Monterey Rd | Single Family | 3,663 | A | |
223 Orange Grove Rd | Single Family | 4,252 | B |
Local Household Income
The median household income in this part of Florida is $47,354. The bottom 10% of the population earn less than $12,913 per year. The top 10% earn more than $158,251 per year. The top 1% earn more than $683,394 per year. Most renters earn between $26,016 (20th percentile) and $44,580 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $94,708 and $118,385.
The tax assessed value of this property places it in percentile 94 of all properties in this area. This suggests it would appeal to someone earning around $317,508 per year who should qualify for a mortgage between $635,016 and $793,770.
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 $1,000. Most renters earn between $2,168 and $3,715 per month. They typically spend 35.5% of their monthly income on rent. Most rents fall in the $716 (20th percentile) to $1,364 (80th percentile) range. The residential vacancy rate is 9%.
This property falls in percentile 94 of all properties in this area. This corresponds to a rent of $1,877 per month and a monthly household income of $4,986 ($59,832 per year)
Nearby Companies
230 Monterey Rd
230 Monterey Rd
225 Monterey Rd
225 Monterey Rd
242 Colonial Ln
292 Colonial Ln
250 Queens Ln
221 Queens Ln
221 Queens Ln
223 Orange Grove Rd
249 Orange Grove Rd
249 Orange Grove Rd