Rising Home Values in Palm Beach County: Comprehensive City-by-City Analysis

The demand for housing remains high in Palm Beach County, with home values rising across the board last year in all 39 cities, towns, and villages. According to the property appraiser’s estimates released Wednesday, countywide taxable property values increased by 9.12%, factoring in new construction, and every municipality saw its overall home value rise.

Key Highlights:

• Highest Increase: Westlake saw the highest increase in taxable value at 40.50%.
• Lowest Increase: Atlantis had the lowest increase in taxable value at 4.99%.
• Highest Median Sales Price: The Town of Palm Beach had the highest median home sale price at $13 million.
• Lowest Median Sales Price: South Bay had the lowest median home sale price at $200,000.

Detailed Breakdown of Property Value Increases by City

Here's a closer look at how the 39 cities, towns, and villages in Palm Beach County fared in terms of increasing property values. These figures include both residential and commercial properties, along with new constructions added to the tax rolls.

• Atlantis: 4.99% increase; Median home sale price: $675,000
• Belle Glade: 10.70% increase; Median home sale price: $314,575
• Boca Raton: 7.83% increase; Median home sale price: About $1.07 million
• Boynton Beach: 8.19% increase; Median home sale price: $430,000
• Briny Breezes: 10.79% increase; Median home sale price: No recorded single-family home sales
• Cloud Lake: 11.45% increase; Median home sale price: $397,500
• Delray Beach: 9.97% increase; Median home sale price: $780,000
• Glen Ridge: 8.87% increase; Median home sale price: No home sales
• Golf: 18.05% increase; Median home sale price: $5 million
• Greenacres: 8.36% increase; Median home sale price: $452,500
• Gulfstream: 5.91% increase; Median home sale price: About $7.68 million
• Haverhill: 9.13% increase; Median home sale price: $485,000
• Highland Beach: 8.79% increase; Median home sale price: About $3.68 million
• Hypoluxo: 8.11% increase; Median home sale price: About $1.48 million
• Juno Beach: 6.52% increase; Median home sale price: About $2.13 million
• Jupiter: 8.80% increase; Median home sale price: $999,000
• Jupiter Inlet Beach Colony: 17.33% increase; Median home sale price: About $4.55 million
• Lake Clarke Shores: 8.50% increase; Median home sale price: $680,000
• Lake Park: 15.73% increase; Median home sale price: $427,143
• Lake Worth Beach: 9.05% increase; Median home sale price: $445,000
• Lantana: 8.57% increase; Median home sale price: $434,375
• Loxahatchee Groves: 13.02% increase; Median home sale price: $675,000
• Manalapan: 5.23% increase; Median home sale price: $10.26 million
• Mangonia Park: 13.61% increase; Median home sale price: $361,000
• North Palm Beach: 7.71% increase; Median home sale price: $809,250
• Ocean Ridge: 9.40% increase; Median home sale price: Nearly $3 million
• Pahokee: 5.85% increase; Median home sale price: $212,500
• Town of Palm Beach: 9.52% increase; Median home sale price: About $13 million
• Palm Beach Gardens: 10.62% increase; Median home sale price: About $1.1 million
• Palm Beach Shores: 8.98% increase; Median home sale price: About $1.41 million
• Palm Springs: 7.83% increase; Median home sale price: $420,000
• Riviera Beach: 11.38% increase; Median home sale price: $315,000
• Royal Palm Beach: 7.60% increase; Median home sale price: $540,000
• South Bay: 6.44% increase; Median home sale price: $200,000
• South Palm Beach: 9.62% increase; Median home sale price: No home sales
• Tequesta: 8.91% increase; Median home sale price: $900,000
• Wellington: 7.88% increase; Median home sale price: $720,000
• West Palm Beach: 10.32% increase; Median home sale price: $525,000
• Westlake: 40.50% increase; Median home sale price: $647,528
• Unincorporated Palm Beach County: Median home sale price: $651,735

Implications of Increased Property Values

The figures released by the property appraiser will be used by cities, the county, the school district, and other taxing districts to prepare their new budgets for the upcoming fiscal year, starting October 1, and to set their tax rates.

Looking Forward

Despite rising home values, one aspect of the housing market remains constant: waterfront property is still highly desirable and selling fast. This applies to both brand-new construction and homes purchased for renovation.

Individual property values and proposed tax rates will be mailed to all property owners in late August, known as the TRIM notice.