Median real estate price in the Town Center of Palm Beach is $4,951,243, which is more expensive than 99.9% of the neighborhoods in Florida and 99.9% of the neighborhoods in the U.S.
The average rental price in Palm Beach Town Center is currently $4,150, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.2% of the neighborhoods in Florida.
Palm Beach Town Center is a suburban neighborhood (based on population density) located in Palm Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Real estate in the Town Center of Palm Beach, FL is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Town Center neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Palm Beach Town Center. The current real estate vacancy rate here is 55.3%. This is higher than the rate of vacancies in 99.2% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (39.8%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Palm Beach, the Town Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Palm Beach Town Center is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Palm Beach Town Center is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, despite all of the residential real estate here in the Palm Beach Town Center neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 55.3%, which is higher than 99.2% of all U.S. neighborhoods.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Palm Beach Town Center neighborhood is wealthier than 99.3% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Palm Beach Town Center also has one of the lowest ratings of child poverty in the nation.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Palm Beach Town Center neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.8% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Palm Beach Town Center neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and active retirees.
Also, divorcees may find friendship and understanding in this neighborhood, as 21.8% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 97.5% of the neighborhoods in America.
Finally, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 77.1% of the adults living in the Palm Beach Town Center neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.5% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Palm Beach Town Center neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Palm Beach Town Center neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 81.2% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 99.6% of U.S. neighborhoods. Less time commuting means more time for other things in life.
In the Palm Beach Town Center neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 24.5% of residents here. This is a higher proportion of walking commuters than we found in 98.8% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Palm Beach Town Center neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 36.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.0% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Did you know that the Palm Beach Town Center neighborhood has more Hungarian and English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Hungarian ancestry and 25.3% have English ancestry.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Town Center neighborhood in Palm Beach are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.3% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Palm Beach Town Center neighborhood, 67.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 20.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.8%), and 4.6% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Palm Beach Town Center neighborhood is English, spoken by 88.6% of households. Some people also speak Spanish (8.9%).
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Town Center neighborhood in Palm Beach, FL, residents most commonly identify their ethnicity or ancestry as English (25.3%). There are also a number of people of Irish ancestry (10.5%), and residents who report German roots (10.1%), and some of the residents are also of Italian ancestry (9.4%), along with some Scottish ancestry residents (4.1%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Palm Beach Town Center neighborhood spend under 15 minutes commuting one-way to work (81.2% of working residents), one of the shortest commutes across America.
Here most residents (26.5%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (24.5%) and 11.7% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
