Median real estate price in the Town Center of Palm Beach is $3,895,761, which is more expensive than 99.6% of the neighborhoods in Florida and 99.5% of the neighborhoods in the U.S.
The average rental price in Palm Beach Town Center is currently $3,336, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.8% 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 older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Palm Beach Town Center. The current real estate vacancy rate here is 47.8%. This is higher than the rate of vacancies in 98.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (41.6%). 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.
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Palm Beach Town Center neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. 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, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 47.8% of the residential real estate vacant, the Palm Beach Town Center neighborhood claims the distinction of having a higher vacancy rate than 98.6% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
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 99.1% 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, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Palm Beach Town Center neighborhood: a neighborhood in which more "urban sophisticates" live than 99.8% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. 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, astoundingly, the Town Center neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 98.9% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Palm Beach neighborhood.
Finally, the rate of college educated adults in the Palm Beach Town Center neighborhood is a unique characteristic of the neighborhood. 77.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 96.9% of all U.S. neighborhoods.
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. 74.2% 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 99.1% of U.S. neighborhoods. Less time commuting means more time for other things in life.
A unique way of commuting is simply not to. And in the Palm Beach Town Center neighborhood, analysis shows that 38.9% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.8% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, 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 22.7% of residents here. This is a higher proportion of walking commuters than we found in 98.5% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Executives, managers and professionals make up 70.2% of the workforce in the Palm Beach Town Center neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the Palm Beach Town Center neighborhood has more English and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 30.2% of this neighborhood's residents have English ancestry and 3.0% have Eastern European ancestry.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this 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 99.1% 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, 70.2% 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 18.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.2%), and 4.1% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Palm Beach Town Center neighborhood is English, spoken by 87.6% of households. Some people also speak Spanish (8.5%).
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Town Center neighborhood in Palm Beach, FL, residents most commonly identify their ethnicity or ancestry as English (30.2%). There are also a number of people of German ancestry (14.0%), and residents who report Italian roots (12.4%), and some of the residents are also of Irish ancestry (8.6%), along with some Scottish ancestry residents (3.8%), among others. In addition, 11.1% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Palm Beach Town Center neighborhood spend under 15 minutes commuting one-way to work (74.2% of working residents), one of the shortest commutes across America.
Here most residents (24.8%) 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 (22.7%) and 13.2% 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.
