308 Summa St, West Palm Beach
Palm Beach County Real Estate - Lake Worth
Lake Worth is in South East Florida. It's population as recorded in the 2010 Census was 34,910. Lake Worth is approximately 58 miles from Miami (population 399,457) and around 54 miles from Hialeah (population 224,669).
The median age for residents of Lake Worth is 35. Around 30.1% of Lake Worth households include school aged children and 22.1% of households include individuals aged 65 years or over. Census records indicate 60% of the Lake Worth population are White, 19.8% are Black or African American, 5.6% American Indian, .9% Asian and 4.5% are Two or more Races. Lake Worth has a significant Hispanic population. 39.6% (13,834) of Lake Worth residents are of Hispanic or Latino origin. Of these 19.98% are of Mexican origin, 10.21% Puerto Rican, 10.39% Cuban and 59.4% are of other Hispanic or Latino origin.
There are 16,473 housing units in Lake Worth. 3,515 (21.3%) of these were reported as vacant in the 2010 Census. There are 7,843 residential rental units in Lake Worth. 6,535 of them were occupied in 2010 providing a residential rental vacancy rate of 16.1%.
Lake Worth links:
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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 | |
|---|---|---|---|---|
| 7401 S Olive Ave | Single Family | 1,600 | B |
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| 7420 Martin Ave | Single Family | 1,147 | B |
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| 316 Summa St | Single Family | 1,770 | B |
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| 7424 Martin Ave | Single Family | 1,257 | B |
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| 323 Laurie Rd | Single Family | 1,736 | B |
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| 320 Summa St | Single Family | 1,877 | B |
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| 261 Summa St | Single Family | 1,906 | B |
|
| 7500 Martin Ave | Single Family | 1,166 | B |
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| 329 Laurie Rd | Single Family | 1,288 | B |
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| 258 Summa St | Single Family | 1,218 | B |
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| 324 Summa St | Single Family | 1,890 | B |
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| 7312 S Olive Ave | Single Family | 1,169 | B |
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| 259 Summa St | Single Family | 1,927 | B |
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| 7504 Martin Ave | Single Family | 1,310 | B |
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| 335 Laurie Rd | Single Family | 1,145 | B |
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| 324 Laurie Rd | Single Family | 2,099 | B |
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| 7516 S Olive Ave | Single Family | 1,809 | B |
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| 258 Miramar Way | Single Family | 3,583 | B |
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| 330 Summa St | Single Family | 1,198 | B |
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| 330 Laurie Rd | Single Family | 1,181 | B |
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| 250 Summa St | Single Family | 1,899 | B |
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| 339 Laurie Rd | Single Family | 1,905 | B |
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| 7508 Martin Ave | Single Family | 1,201 | B |
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| 245 Summa St | Vacant Residential | 1,173 | L |
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| 336 Laurie Rd | Single Family | 1,407 | B |
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| 261 Seville Rd | Single Family | 1,763 | B |
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| 336 Summa St | Single Family | 1,388 | B |
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| 323 Leigh Rd | Single Family | 1,130 | B |
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| 250 Miramar Way | Single Family | 3,479 | B |
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| 246 Summa St | Single Family | 1,586 | B |
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| 251 Seville Rd | Single Family | 1,864 | B |
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| 345 Laurie Rd | Single Family | 1,166 | B |
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| 7512 Martin Ave | Single Family | 1,680 | B |
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| 340 Laurie Rd | Single Family | 1,321 | B |
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| 329 Leigh Rd | Single Family | 1,487 | B |
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| 241 Summa St | Single Family | 1,936 | B |
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| 340 Summa St | Single Family | 1,170 | B |
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| 335 Leigh Rd | Single Family | 1,201 | B |
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| 247 Seville Rd | Single Family | 1,522 | B |
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| 265 Miramar Way | Single Family | 3,580 | B |
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| 260 Seville Rd | Single Family | 1,333 | B |
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| 349 Laurie Rd | Single Family | 1,376 | B |
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| 240 Summa St | Single Family | 2,486 | B |
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| 346 Laurie Rd | Single Family | 1,308 | B |
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| 240 Miramar Way | Single Family | 4,406 | A |
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| 7600 Martin Ave | Single Family | 1,113 | 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 75 of all properties in this area. This suggests it would appeal to someone earning around $86,689 per year who should qualify for a mortgage between $173,378 and $216,723.
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 75 of all properties in this area. This corresponds to a rent of $1,257 per month and a monthly household income of $3,505 ($42,060 per year)
Nearby Companies
7420 Martin Ave
7401 South Olive Ave
7312 S Olive Ave
247 Seville Rd
240 Summa St
336 Laurie Rd
336 Laurie Rd
339 Laurie Rd
260 Seville Rd