516 51st St, West 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 | |
|---|---|---|---|---|
| 520 51st St | Single Family | 1,831 | B |
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| 510 51st St | Single Family | 1,717 | B |
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| 515 50th St | Single Family | 1,157 | B |
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| 519 50th St | Single Family | 1,099 | B |
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| 509 50th St | Single Family | 1,064 | B |
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| 504 51st St | Single Family | 1,268 | B |
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| 526 51st St | Single Family | 1,343 | B |
|
| 523 50th St | Multi-family - less than 10 units | 1,593 | B |
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| 507 50th St | Single Family | 1,313 | B |
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| 515 51st St | Single Family | 1,890 | B |
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| 511 51st St | Multi-family - less than 10 units | 1,102 | B |
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| 500 51st St | Single Family | 1,194 | B |
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| 509 51st St | Single Family | 1,215 | B |
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| 527 50th St | Single Family | 979 | B |
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| 5101 Spruce Ave | Single Family | 1,461 | B |
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| 525 51st St | Single Family | 2,485 | B |
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| 5201 Spruce Ave | Single Family | 1,591 | B |
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| 5112 Broadway | Store, one story | 2,496 | B |
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| 5100 Broadway | Repair service shop (excluding automotive) | 2,480 | B |
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| 514 52nd St | Single Family | 866 | B |
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| 518 50th St | Single Family | 1,374 | B |
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| 512 50th St | Multi-family - less than 10 units | 1,732 | B |
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| 520 52nd St | Multi-family - less than 10 units | 2,151 | B |
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| 508 52nd St | Single Family | 891 | B |
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| 524 50th St | Single Family | 843 | B |
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| 508 50th St | Single Family | 1,344 | B |
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| 504 52nd St | Single Family | 1,054 | B |
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| 504 50th St | Multi-family - less than 10 units | 1,955 | B |
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| 524 52nd St | Single Family | 2,058 | B |
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| 436 51st St | Single Family | 1,159 | B |
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| 5100 Spruce Ave | Single Family | 1,114 | B |
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| 5213 Spruce Ave | Multi-family - less than 10 units | 1,914 | B |
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| 500 50th St | Single Family | 1,174 | B |
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| 441 51st St | Multi-family - less than 10 units | 1,694 | B |
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| 5214 Broadway | Store, one story | 2,176 | B |
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| 431 50th St | Multi-family - less than 10 units | 1,472 | B |
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| 424 51st St | Single Family | 1,786 | B |
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| 5009 Spruce Ave | Single Family | 1,973 | B |
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| 427 51st St | Multi-family - less than 10 units | 1,762 | B |
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| 5111 Broadway | Vacant Commercial | 1,706 | L |
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| 434 50th St | Multi-family - less than 10 units | 1,668 | B |
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| 517 52nd St | Single Family | 942 | B |
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| 515 52nd St | Single Family | 875 | B |
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| 5050 Broadway | Municipal Owned | 13,956 | A |
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| 515 49th St | Multi-family - less than 10 units | 2,286 | B |
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| 519 52nd St | Single Family | 1,263 | B |
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| 519 49th St | Single Family | 1,226 | B |
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| 5201 Broadway | Club, lodge or union hall | 1,668 | B |
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| 509 52nd St | Multi-family - less than 10 units | 1,680 | B |
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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 56 of all properties in this area. This suggests it would appeal to someone earning around $54,139 per year who should qualify for a mortgage between $108,278 and $135,348.
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 56 of all properties in this area. This corresponds to a rent of $1,055 per month and a monthly household income of $2,977 ($35,724 per year)
Nearby Companies
5209 Broadway
5209 Broadway
5101 Broadway
5101 Broadway
5201 Broadway
5305 Broadway
5305 Broadway
5100 Broadway
5112 Broadway
5214 Broadway
516 51st St
516 51st St
5101 Spruce Ave