3024 Washington Rd, West Palm Beach
Palm Beach County Real Estate - Palm Beach
Palm Beach is in South East Florida. It's population as recorded in the 2010 Census was 8,348. Palm Beach is approximately 64 miles from Miami (population 399,457) and around 60 miles from Hialeah (population 224,669).
The median age for residents of Palm Beach is 67.4. Around 7% of Palm Beach households include school aged children and 68.4% of households include individuals aged 65 years or over. Census records indicate 97.4% of the Palm Beach population are White, .6% are Black or African American, 0% American Indian, 1% Asian and .5% are Two or more Races.
There are 9,091 housing units in Palm Beach. 4,292 (47.2%) of these were reported as vacant in the 2010 Census. Palm Beach is a tourist destination, 84.5% (3,627) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 932 residential rental units in Palm Beach. 659 of them were occupied in 2010 providing a residential rental vacancy rate of 27.9%.
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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 | |
|---|---|---|---|---|
| 3028 Washington Rd | Single Family | 4,663 | A |
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| 3008 Washington Rd | Single Family | 3,572 | A |
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| 3020 Washington Rd | Single Family | 3,843 | B |
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| 3030 Washington Rd | Vacant Residential | 0 | L | |
| 3040 Washington Rd | Municipal Owned | 0 | L | |
| 3050 Washington Rd | Municipal Owned | 0 | L | |
| 3000 Washington Rd | Single Family | 4,519 | B |
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| 3027 Washington Rd | Single Family | 3,404 | A |
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| 3019 Washington Rd | Single Family | 1,825 | B |
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| 3110 Washington Rd | Single Family | 4,112 | B |
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| 101 Royal Palm Rd | Single Family | 2,161 | B |
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| 3015 Washington Rd | Single Family | 2,769 | A |
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| 2916 Washington Rd | Single Family | 2,377 | B |
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| 3007 Washington Rd | Single Family | 2,609 | A |
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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 96 of all properties in this area. This suggests it would appeal to someone earning around $376,789 per year who should qualify for a mortgage between $753,578 and $941,973.
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 96 of all properties in this area. This corresponds to a rent of $2,130 per month and a monthly household income of $5,655 ($67,860 per year)
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