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Thursday, April 20, 2023

Get to Know Palm Beach, FL

​​Row of Colorful Houses in Palm Beach, FL

Get to Know Palm Beach, FL

America’s first resort destination lies along the gleaming sands of Florida’s Palm Beaches! Few Florida resort towns are as glamorous and iconic as Palm Beach itself. There’s a reason some of the world’s most famous buy homes or move to Palm Beach, which has little to do with wealth. With its golden sand beaches, sparkling waters, and lush natural surroundings, it all comes down to the one-of-a-kind upscale beach resort vibe.

We have you covered if you’re among those seeking the promise of a Palm Beach lifestyle. Gain answers to frequently asked questions about living in Palm Beach, FL.

Where is Palm Beach, FL?

Palm Beach County Florida Map

Palm Beach is an incorporated town in Palm Beach County, Florida. It’s on an 18-mile Atlantic barrier island and is separated from West Palm Beach and Lake Worth by the Intracoastal Waterway to its west.

The island is long and narrow, with its widest point no larger than three-quarters of a mile. Palm Beach covers 8.12 sq mi of the island. The town borders South Palm Beach, also part of the barrier island.

What to know about living in Palm Beach, FL

Palm Beach’s attraction lies in the stunning golden sand beaches, clear waters, and beautiful natural environment of South Florida. In the late 1800s, it became a winter resort of the wealthy thanks to the vision of railroad magnate Henry Flagler, who built three of its most iconic hotels: The Royal Poinciana, The Breakers, and Whitehall. He extended the first railway connecting Palm Beach to the rest of Florida to make reaching these destinations easier for his clientele.

But there is much more to explore beyond the beaches and jewel-toned waterways. Stroll the elegant shopping avenues of Worth Avenue, dine in some of the world’s most renowned restaurants, take part in cultural events and attractions all year round, or enjoy some of America’s best golf courses.

Today, this barrier island is still a favored destination by many, including movie stars and high-ranking officials, but you don’t need to be a Rockefeller to indulge in a luxurious life here.

What is the cost of living in Palm Beach, FL?

You might expect an island town brimming with the nation’s wealthiest and serving a long reputation as a playground for the famous to be above average regarding living costs. And you’d be right. Palm Beach is notably among Florida’s most expensive places to live. It ranked the 18th wealthiest town in America and has homes owned by around 30 billionaires.

Real estate is the primary reason why living costs are higher here. The town is fully developed with no room for expansion. Many existing properties are custom-built waterfront mansions, with numerous historic and landmark properties built by names like the Kennedys and the Posts of cereal fame. Former President Donald Trump took up residence at his Mar-a-Lago estate in Palm Beach. With such demand and a moneyed reputation, it should be no surprise that housing costs 367% more here than the nationwide average.

Besides housing, your expenses for transportation, groceries, and miscellaneous costs will also run slightly above average.

What is the average price of a home in Palm Beach, FL?

Palm Beach is a small town, but living here is in high demand. Luckily, your style, type, and size options vary more than you might expect. The community had 375 homes for sale in April 2023 at a median price of $2.8 million.

The most affordable listing was $325,000 for a 700 sq ft studio condo in a community off the Intracoastal waterway. The most expensive was $218,000,000 for a 21,406 sq ft custom estate on a private island with a tennis court, a five-car garage, 11 bedrooms, 15 bathrooms, and a wine room.

Are there any condos or townhomes available in Palm Beach, FL?

Palm Beach FL housing

As a vacation destination, Palm Beach delivers abundant condos and townhomes. These properties make it easy to have a maintenance-free lifestyle, so you enjoy more of the town’s ample amenities, whether you are a part-time snowbird, want a weekend getaway space, or desire a full-time Florida lifestyle.

April 2023 had 167 listings available. You’ll find everything from simple studio units to luxurious penthouse condos with ocean views and robust amenities.

The most expensive listing was in the world-famous Breakers Row. The corner penthouse with city-to-ocean views and 3,400 sq ft was listed for $17.9 million. The most affordable listing was $325,000 for a 700 sq ft studio condo in a tower off the Intracoastal.

What is the property tax rate for Palm Beach, FL?

The property tax rate in Palm Beach ranks in the highest among Florida’s cities and towns. In Florida, one mil is $1 for every $1,000 of assessed property value.

The millage rate of 2.6932 for the City of Palm Beach was adopted in 2023, which was less than 2022’s 2.8966. Palm Beach County assessed 4.715 in 2022. The local school board was 3.2480, while the state school board tax was 3.2710. Additional taxes were:

  • Library: 0.5491
  • Children’s Services: 0.5508
  • Fire/Rescue: 3.4581
  • SWFMD: 0.0948

Is Palm Beach, FL growing?

Palm Beach’s population has been historically stable for the past decade and reported 9,251 persons in 2021. The number of residents declined slightly from 9,600 in 2010, but going back two decades, the population has always been just under 10,000. Growth is limited by the lack of infill and available space for development.

Are there any waterfront properties found in Palm Beach, FL?

Palm Beach is all about the waterfront lifestyle. The turquoise waters glisten under the tropical sun, beckoning residents to try swimming in the surf, fishing, sailing, and much more. Nearly half of the listings had some waterfront, 184 of the 375 in April 2023. Many listings were condominiums with waterfront views and access. The waterfront could be Intracoastal or Atlantic.

Some communities will have private docks or boat slips available for resident lease. However, this is more likely on the Intracoastal side than the Atlantic, where preserving pristine beachfront is the priority.

How is golf in Palm Beach, FL?

The Breakers Palm Beach Resort golf courses are among the top courses in Palm Beach County and are open to the public. The Ocean Course is Florida’s oldest. It underwent a careful renovation in 2018, preserving its original feel while modernizing its play. The Rees Jones Course is ten miles from the Ocean Course but is a premier golfing option available to play by club members.

The Palm Beach Country Club is a private golf club with a lush, sprawling course running from the ocean to Intracoastal.

Mar-A-Lago Club offers golf, tennis, and pool access to its members. It has a 27-holes of play with a putting green and driving range. While the resort is on Palm Beach, the golf courses are on the mainland.

Palm Beach Par-3 Golf Course is a municipal course open to the public. It has 18 holes and welcomes walk-ins to play on its oceanfront course, renovated by Raymond Floyd. It’s been ranked as the nation’s best Par-3 course and an among the top 25 consistently on short courses.

Are there golf course communities in Palm Beach, FL?

The Breakers Row is home to the exclusive Breakers Ocean Course. The Breakers Row residential development consists of two luxury towers, 1 North Breakers Row and 2 North Breakers Row, which are next to the famous Breakers Hotel. Both buildings have 48 luxury condos each, providing a total of 86 residences.

The development is situated on a 500-foot private beachfront. Residents are eligible for immediate membership to The Breakers Ocean Club, which includes its championship golf courses.

What areas are near Palm Beach, FL?

Near Palm Beach are the cities of West Palm Beach and Lake Worth. West Palm Beach is just over seven miles away. The downtown area is a destination that offers shopping, dining, entertainment, and nightlife. Lake Worth is 11 miles away but is a much quieter city with small-town vibes. It has many historical buildings, and its downtown area is known for its quaint cafes and restaurants.

To the north of Palm Beach is Jupiter, which is 16 miles away. This is a popular place to live as it offers many outdoor activities, with some of Florida’s best beaches and golf courses. The town also has an abundance of high-end shopping centers and restaurants.

Further north is Stuart, a charming coastal city known for its fishing and boating opportunities on the St. Lucie River. Stuart is 28 miles away from Palm Beach.

Boca Raton is 35 miles south of Palm Beach for those looking for another upscale Florida town with resort roots. It offers many luxury homes and condos on the beach, golf resorts, boutique shopping, dining, and entertainment.

Living in Palm Beach, FL

aerial view of palm beach florida

Whether it’s for retirement, a year-round lifestyle, or a vacation destination, Palm Beach’s spectacular beaches, golf courses, and luxurious homes make living here a robust lifestyle. Explore Palm Beach for yourself and see how it could be the right Florida beach town for you.

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Preston Guyton

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