5510 Spruce Ave, 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 | |
|---|---|---|---|---|
| 428 55th St | Single Family | 1,751 | B |
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| 433 54th St | Multi-family - less than 10 units | 2,747 | B |
|
| 424 55th St | Single Family | 1,076 | B |
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| 429 54th St | Multi-family - less than 10 units | 1,504 | B |
|
| 5515 Spruce Ave | Single Family | 897 | B |
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| 5511 Spruce Ave | Single Family | 1,036 | B |
|
| 501 54th St | Single Family | 1,118 | B |
|
| 5600 Spruce Ave | Single Family | 1,798 | B |
|
| 420 55th St | Single Family | 1,399 | B |
|
| 425 54th St | Single Family | 2,621 | B |
|
| 505 54th St | Multi-family - less than 10 units | 1,168 | B |
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| 427 55th St | Single Family | 1,413 | B |
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| 5601 Spruce Ave | Multi-family - less than 10 units | 1,644 | B |
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| 416 55th St | Single Family | 1,517 | B |
|
| 510 55th St | Single Family | 1,581 | B |
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| 507 55th St | Single Family | 1,001 | B |
|
| 415 54th St | Single Family | 2,326 | B |
|
| 5612 Spruce Ave | Single Family | 2,283 | B |
|
| 509 54th St | Single Family | 4,132 | A |
|
| 417 55th St | Single Family | 1,975 | B |
|
| 412 55th St | Single Family | 1,042 | B |
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| 514 55th St | Single Family | 1,309 | B |
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| 424 56th St | Single Family | 1,369 | B |
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| 511 55th St | Single Family | 1,500 | B |
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| 5611 Spruce Ave | Multi-family - less than 10 units | 2,247 | B |
|
| 436 54th St | Single Family | 1,533 | B |
|
| 426 54th St | Single Family | 934 | B |
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| 411 54th St | Single Family | 938 | B |
|
| 420 56th St | Multi-family - less than 10 units | 1,596 | B |
|
| 424 54th St | Single Family | 1,361 | B |
|
| 500 54th St | Multi-family - less than 10 units | 2,326 | B |
|
| 508 56th St | Multi-family - less than 10 units | 1,304 | B |
|
| 411 55th St | Multi-family - less than 10 units | 1,723 | B |
|
| 517 55th St | Single Family | 1,366 | B |
|
| 517 54th St | Single Family | 876 | B |
|
| 518 55th St | Single Family | 1,181 | B |
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| 422 54th St | Single Family | 1,566 | B |
|
| 510 56th St | Single Family | 1,336 | B |
|
| 416 56th St | Single Family | 1,132 | B |
|
| 508 54th St | Multi-family - less than 10 units | 1,782 | B |
|
| 414 54th St | Single Family | 1,574 | B |
|
| 5511 N Flagler Dr | Single Family | 2,224 | B |
|
| 521 54th St | Single Family | 997 | B |
|
| 5503 N Flagler Dr | Single Family | 3,722 | B |
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| 524 55th St | Single Family | 990 | B |
|
| 5400 Spruce Ave | Single Family | 1,266 | B |
|
| 525 55th St | Vacant Residential | 0 | L | |
| 431 53rd St | Single Family | 784 | B |
|
| 514 56th St | Vacant Residential | 0 | L |
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 78 of all properties in this area. This suggests it would appeal to someone earning around $94,435 per year who should qualify for a mortgage between $188,870 and $236,088.
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 78 of all properties in this area. This corresponds to a rent of $1,313 per month and a monthly household income of $3,639 ($43,668 per year)
Nearby Companies
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5600 N Flagler Dr #709
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5600 N Flagler Dr #709
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5600 N Flagler Dr
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