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West Palm Beach, FL Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$2,296
Monthly Cash Flow
-$411
Principal + Equity
$2,940
Annual Total Gain
$30,345
Cash on Cash
-5.04%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$249
Occupancy Rate
63.33%
Monthly Revenue
$3,158
Monthly Cash Flow
-$23
Principal + Equity
$2,940
Annual Total Gain
$35,005
Cash on Cash %
-0.28%
Net ROI %
Market Health & Growth
Median Income
$69,261
Population
119,508
LTR Renter %
49.79%
Forecast (1 yr)
1.94%
Appreciation (1 yr)
-5.87%
Appreciation (5 yr)
57.5%
Appreciation (10 yr)
117.88%
Job Growth
3.72%
LTR Rentability
Very High
STR Demand
64
STR Rentals
2,623
Top Public Schools
AAlexander W. Dreyfoos Jr. School of the Arts
ASuncoast Community High School
A-
A-
A-
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Most Diverse Cities in America
#27out of 229 markets
Most Diverse Suburbs in America
#73out of 6805 markets
Best Cities to Retire in America
#25out of 229 markets
C
Public School
D
Crime And Safety
D
Housing
A-
Nightlife
B-
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in West Palm Beach, FL.
As of October 2021, West Palm Beach, FL has regulations in place for short term rentals that investors should be aware of before purchasing a property for this purpose.
1. Licensing and Registration: Short term rental properties in West Palm Beach must be registered with the city and obtain a business tax receipt. This registration process includes providing proof of insurance, safety inspections, and compliance with zoning regulations.
2. Zoning Restrictions: The city of West Palm Beach has specific zoning regulations that dictate where short term rentals are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits short term rentals.
3. Occupancy Limits: There are occupancy limits in place for short term rental properties in West Palm Beach. Investors should be aware of these limits and ensure that they are in compliance with them.
4. Noise and Nuisance Regulations: West Palm Beach has noise and nuisance regulations that apply to short term rental properties. Investors should be aware of these regulations and take steps to ensure that their property does not cause disturbances to neighbors.
5. Taxes: Short term rental properties in West Palm Beach are subject to transient occupancy taxes. Investors should be aware of these tax obligations and ensure that they are properly collected and remitted.
6. Homeowner's Association Rules: If the property is located within a homeowner's association (HOA), investors should review the HOA rules and regulations regarding short term rentals. Some HOAs may have restrictions or prohibitions on short term rentals.
7. Enforcement: West Palm Beach has enforcement mechanisms in place to ensure that short term rental properties are in compliance with regulations. Investors should be aware of the potential consequences of non-compliance, including fines and penalties.
Overall, investors considering purchasing a property for short term rental in West Palm Beach should thoroughly research and understand the regulations and requirements in place to ensure a successful and compliant investment.
Market Trends Over Time
Explore 25 years of market data for West Palm Beach, FL, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to West Palm Beach, FL.
The LTR Genie Score of West Palm Beach, FL is 76 and the STR Genie Score is 82, indicating a high level of rentability for both long-term and short-term rental properties in this market. The high scores can be attributed to the positive LTR and STR Net ROI percentages, as well as the strong 1-Year Price Appreciation Forecast. The STR Genie Score is slightly higher than the LTR Genie Score, suggesting that short-term rental investment may yield slightly better returns in West Palm Beach.
West Palm Beach, FL is a popular tourist destination known for its beautiful beaches, vibrant downtown area, and cultural attractions. The city's strong economy and growing population make it an attractive market for real estate investors looking to capitalize on both long-term and short-term rental opportunities.
Based on the metrics provided, West Palm Beach, FL appears to be a promising market for both long-term and short-term rental investments. With high LTR and STR Genie Scores, positive rent growth rates, and strong ROI percentages, investors may find success in either rental strategy in this market. It is recommended for real estate investors to consider diversifying their portfolio by investing in both long-term and short-term rental properties in West Palm Beach to maximize their returns.
