5613 56th Way, 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 | |
|---|---|---|---|---|
| 5614 56th Way | Single Family | 1,236 | B |
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| 5612 56th Way | Single Family | 1,236 | B |
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| 5611 56th Way | Single Family | 1,236 | B |
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| 5617 56th Way | Single Family | 1,236 | B |
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| 5616 56th Way | Single Family | 1,236 | B |
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| 5607 56th Way | Single Family | 1,236 | B |
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| 5610 56th Way | Single Family | 1,236 | B |
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| 5618 56th Way | Single Family | 1,236 | B |
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| 5615 56th Way | Single Family | 1,236 | B |
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| 5608 56th Way | Single Family | 1,236 | B |
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| 5609 56th Way | Single Family | 1,236 | B |
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| 5642 56th Way | Single Family | 1,236 | B |
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| 5641 56th Way | Single Family | 1,236 | B |
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| 5621 56th Way | Single Family | 1,236 | B |
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| 5620 56th Way | Single Family | 1,236 | B |
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| 5637 56th Way | Single Family | 1,236 | B |
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| 5603 56th Way | Single Family | 1,236 | B |
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| 5646 56th Way | Single Family | 1,236 | B |
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| 5639 56th Way | Single Family | 1,236 | B |
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| 5638 56th Way | Single Family | 1,236 | B |
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| 5606 56th Way | Single Family | 1,236 | B |
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| 5640 56th Way | Single Family | 1,236 | B |
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| 5622 56th Way | Single Family | 1,236 | B |
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| 5619 56th Way | Single Family | 1,236 | B |
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| 5643 56th Way | Single Family | 1,236 | B |
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| 5636 56th Way | Single Family | 1,236 | B |
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| 5645 56th Way | Single Family | 1,236 | B |
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| 5635 56th Way | Single Family | 1,236 | B |
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| 5604 56th Way | Single Family | 1,236 | B |
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| 5633 56th Way | Single Family | 1,236 | B |
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| 5605 56th Way | Single Family | 1,236 | B |
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| 5644 56th Way | Single Family | 1,236 | B |
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| 5634 56th Way | Single Family | 1,236 | B |
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| 5632 56th Way | Single Family | 1,236 | B |
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| 5631 56th Way | Single Family | 1,236 | B |
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| 5601 56th Way | Single Family | 1,236 | B |
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| 5602 56th Way | Single Family | 1,236 | B |
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| 2634 Mohawk Cir | Single Family | 2,333 | B |
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| 2633 Mohawk Cir | Single Family | 2,333 | B |
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| 2632 Mohawk Cir | Single Family | 2,333 | B |
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| 2635 Mohawk Cir | Single Family | 2,333 | B |
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| 5625 56th Way | Single Family | 1,236 | B |
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| 5529 55th Way | Single Family | 1,236 | B |
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| 5629 56th Way | Single Family | 1,236 | B |
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| 5530 55th Way | Single Family | 1,236 | B |
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| 2631 Mohawk Cir | Single Family | 2,333 | B |
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| 2636 Mohawk Cir | Single Family | 2,333 | B |
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| 5624 56th Way | Single Family | 1,236 | 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 50 of all properties in this area. This suggests it would appeal to someone earning around $47,354 per year who should qualify for a mortgage between $94,708 and $118,385.
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 50 of all properties in this area. This corresponds to a rent of $1,000 per month and a monthly household income of $2,849 ($34,188 per year)
Nearby Companies
5735 57th Way
5739 57th Way
2645 Mohawk Cir
5602 56th Way
5601 56 Th Way
5616 56th Way
5625 56th Way
5612 56th Way
5725 57th Way