Luna Harper
Palm Beach County is one of the hottest rental markets in the country, with an average of 13 prospective renters competing for every vacant unit in 2024. Rental prices in the area have been steadily increasing, with a year-over-year increase of 2.1% in South Florida, which includes Palm Beach County. However, there are indications that rent prices in the county may be starting to cool down. In November 2024, the median rent price in Palm Beach, FL, experienced a $1,500 decrease compared to the previous year, and a $500 decrease from October. Monthly rental prices in older apartment buildings in the county are also reported to be going down, while new apartments are fetching higher rents.
| Characteristics | Values |
|---|---|
| Median rent in Palm Beach, FL | $10,500 |
| Median rent price in November 2024 | $1,500 less than November 2023 |
| Median rent price in November 2024 compared to October 2024 | $500 less |
| Number of available rentals in Palm Beach, FL | 212 |
| Median rent in Palm Beach, FL compared to the national average | 420% higher |
| Average rent for an apartment in West Palm Beach, late December | $1,650 for a studio, $2,525 for a two-bedroom unit |
| Average rent in West Palm Beach, FL | $2,371 |
| Average rent for an apartment in Palm Beach | $12,472 |
| Average size for an apartment in Palm Beach, Palm Beach County, FL | 1,280 square feet |
| Percentage of renter-occupied households in Palm Beach, Palm Beach County, FL | 17% |
| Number of prospective renters per vacant unit in Palm Beach County, 2024 | 13 |
| Occupancy rate in Palm Beach County, 2024 | 95% |
| Average 1-bedroom apartment rent in Pleasant City, West Palm Beach | $1,034 |
| Average 1-bedroom apartment rent in Northwood Village, West Palm Beach | $1,200 |
| Average 1-bedroom apartment rent in Century Village, West Palm Beach | $1,400 |
| Average rent in the most expensive neighborhood in West Palm Beach, Providencia Park | $3,178 |
| Average rent in the most popular neighborhood in West Palm Beach, Villages Of Palm Beach Lakes | $2,102 |
Explore related products
What You'll Learn
The average rent in Palm Beach County
Palm Beach County is one of the most in-demand small rental markets in the United States. In 2024, there were on average 13 prospective renters for every vacant unit, with a 95% occupancy rate. This has resulted in a very robust demand, with rental prices in most areas still slowly increasing.
The average rent in Palm Beach, Florida, varies depending on location, size, and quality. The average rent for a studio apartment in West Palm Beach is $1,650, while a two-bedroom unit is $2,525. The average rent for a one-bedroom apartment in West Palm Beach is $2,572, although this varies by neighborhood. The most affordable neighborhoods include Pleasant City ($1,034), Northwood Village ($1,200), and Century Village ($1,400). The most expensive neighborhoods include South End ($3,500), Prospect Heights ($3,228), and Loftin District ($3,013). The average rent in West Palm Beach is $2,371.
The median rent for all bedrooms and property types in Palm Beach is $10,500, although this also varies by neighborhood. The average rent for an apartment in Palm Beach is $12,472.
While rental prices in Palm Beach County are still increasing, this is happening at a slower rate than in previous years. In November 2024, the median rent was $1,500 less than in November 2023, and $500 less than in October 2024. Rental prices are decreasing in older apartment buildings but are increasing for new apartments.
Renting a U-Haul: A Quick Guide for First-Timers
You may want to see also
Explore related products
Rental demand in Palm Beach County
The average rent for an apartment in Palm Beach is $12,472, though this varies depending on location, size, and quality. The median rent for all bedrooms and property types is $10,500, with prices ranging from $1,700 to $170,000. In November 2024, the median rent price was $1,500 less than in November 2023 and $500 less than in October.
In West Palm Beach, the average rent is $2,371 per month. The most affordable neighbourhoods are Northwood Hills ($1,756/month), Garden Hills ($1,802/month), and Golden Lakes ($1,996/month). The most expensive neighbourhoods are Providencia Park ($3,178/month), Downtown West Palm Beach ($3,802/month), and Pinewood Park ($4,091/month).
Monthly rental prices in older apartment buildings in Palm Beach County are decreasing, while new apartments are fetching higher rents. According to Rent.com, the average rent for an apartment in West Palm Beach as of late December ranged from $1,650 for a studio to $2,525 for a two-bedroom unit, which is 30% and 22% lower, respectively, than in 2023.
Realtors have noted a surge in interest in Palm Beach County real estate, with rental prices still slowly rising. Year-on-year rents in South Florida, including Palm Beach, Broward, and Miami-Dade counties, are up 2.1% overall. This is a slower rate of increase compared to the early years of the pandemic, which saw increases of upwards of 30%.
Scooter Rentals: What You Need to Know
You may want to see also
Explore related products
Rent prices in West Palm Beach
As of August 2025, the average rent in West Palm Beach, Florida, is $2,069 per month. This is 26% higher than the national average rent price of $1,638 per month, making West Palm Beach one of the most expensive cities in the US. The average rent for a studio apartment in West Palm Beach is $2,186 per month, $2,069 for a one-bedroom apartment, and around $2,376 for a two-bedroom apartment. Three-bedroom apartments can cost $3,993 or more per month.
The rent prices vary depending on the neighborhood. The most affordable neighborhoods include Pleasant City, Northwood Village, and Century Village, where the average rent for a one-bedroom apartment ranges from $1,034 to $1,400. On the other hand, the most expensive neighborhoods include South End, Prospect Heights, and Loftin District, with average rents for a one-bedroom apartment ranging from $2,600 to $3,500.
According to Rent.com, the average rent for an apartment in West Palm Beach ranged from $1,650 for a studio to $2,525 for a two-bedroom unit in late December 2024, which was a decrease of 30% and 22%, respectively, from the previous year. However, Palm Beach County is one of the top 10 most in-demand small rental markets in the country, with an average of 13 prospective renters for every vacant unit in 2024. This high demand has led to a "robust demand," with developers building more to meet this demand.
While rental prices in Palm Beach County are still increasing, the rate of increase has slowed down compared to the early years of the pandemic. According to Ken H. Johnson, a real estate economist, year-over-year rents in South Florida, including Palm Beach County, have increased by 2.1% overall, compared to upwards of 30% during the pandemic's early years.
Overall, the rent prices in West Palm Beach vary significantly depending on the neighborhood and the number of bedrooms, with a wide range of options available for prospective renters.
Brownstones: NYC's Rent Stabilization Loophole
You may want to see also
Explore related products
The most affordable neighbourhoods in Palm Beach County
Palm Beach County is one of the hottest rental markets in the country, with high demand and limited supply. While rental prices are still increasing slowly in most areas, there are some neighbourhoods in Palm Beach County that offer more affordable options.
One of the most affordable neighbourhoods in West Palm Beach is Pleasant City, where the average one-bedroom apartment rents for $1,034 per month. Northwood Village is another affordable option, with average rents of $1,200 for a one-bedroom apartment. Century Village and Northwood Shores also offer relatively lower rents, with average prices of $1,400 and $1,495, respectively. These prices are significantly lower than the West Palm Beach average of $2,572 for a one-bedroom apartment.
Additionally, monthly rental prices in older apartment buildings in Palm Beach County, considered "B" and "C" stock, are reported to be decreasing. Boca Raton, the southernmost city in Palm Beach County, may offer more affordable options in older buildings. Studio apartments in West Palm Beach can be found for $1,650 per month, which is a 30% decrease from 2023 prices.
While the median rent in Palm Beach, FL, is high at $10,500, there is a wide range of prices, with some properties available from $1,700. This range of options means that those with different budgets can find suitable accommodation.
Overall, while Palm Beach County rental prices remain high compared to the national median, there are some neighbourhoods and property types that offer more affordable options for renters.
Streaming 'Killers of the Flower Moon': Where to Rent?
You may want to see also
Explore related products
The most expensive neighbourhoods in Palm Beach County
Palm Beach County is one of the hottest rental markets in the country, with rental prices in most areas still slowly rising. The average household needs to make an annual income of $110,000 to avoid being “rent constrained”.
When it comes to the most expensive neighbourhoods in Palm Beach County, the Estate Section of Boca Raton stands out for its beautiful homes, impressive gardens, and proximity to the city. Lake Rogers Isle is another prestigious community, offering seaside living with deep-water lots and individual docks providing access to the Atlantic Ocean. Everglades Island, a gated community on the Intercoastal Waterway, provides exclusivity and luxury with only 55 unique homes.
In West Palm Beach, specifically, El Cid is a highly desirable neighbourhood known for its historical sophistication and coastal luxury, featuring Mediterranean Revival, Mission-style, and Art Deco homes. Prospect Park South offers a blend of old-world charm and contemporary comforts, with elegant homes dating back to the Roaring Twenties. Toledo is another expensive neighbourhood in West Palm Beach, with older rehabbed homes often listing in the $3M to $4M range, while new construction builds can reach upwards of $12M to $14M.
The South End neighbourhood in West Palm Beach boasts high rental prices, with one-bedroom apartments averaging $3,500 per month. Other notable mentions in West Palm Beach include Prospect Heights, the Loftin District, Flagler-Waterfront District, and Pineapple Park, which offer a range of options with average rents between $2,600 and $3,228 for a one-bedroom apartment.
Rent-a-Girlfriend: Kazuya's Final Choice
You may want to see also
Frequently asked questions
According to Keyes Realtor Tim Schoenheit, monthly rental prices are going down in older apartment buildings in Palm Beach County. However, Palm Beach County is one of the top 10 most in-demand small rental markets in the country, and rents are still going up, albeit slowly.
The average rent for an apartment in Palm Beach is $12,472, with the median rent being $10,500. The average rent in West Palm Beach is $2,371.
The most affordable neighborhoods in West Palm Beach are Northwood Hills, Garden Hills, and Golden Lakes, with average rents of $1,756, $1,802, and $1,996, respectively.
The most expensive neighborhoods in West Palm Beach are Providencia Park, Downtown West Palm Beach, and Pinewood Park, with average rents of $3,178, $3,802, and $4,091, respectively.
