Home Values in West Palm Beach, Florida — 2026 Market Report
Updated March 2026 | Balanced Market | +6.5% YoY
The median home value in West Palm Beach, Florida is $395,000 as of March 2026, which is near the national median of $400,000. Home values in West Palm Beach have increased by 6.5% over the past year and 37% over the last five years. With a population of 117,415 and a median household income of $52,250, the price-to-income ratio stands at 7.6x, making West Palm Beach affordable for the average household.
West Palm Beach Housing Market Conditions
| Metric | West Palm Beach | National Avg |
|---|---|---|
| Median Home Value | $395,000 | $400,000 |
| YoY Appreciation | +6.5% | +3.8% |
| 5-Year Appreciation | +37% | +22.4% |
| Price per Sq Ft | $196 | $222 |
| Days on Market | 32 days | 45 days |
| Months of Supply | 3 | 3.5 |
| List-to-Sale Ratio | 101% | 98.5% |
| Monthly Homes Sold | 109 | — |
| Foreclosure Rate | 0.36% | 0.3% |
Home Value Trends in West Palm Beach
A homeowner who purchased at the median price of $288,321 five years ago in West Palm Beach would have gained approximately $106,679 in equity, representing a 37% return on investment. Over the past year alone, the typical homeowner gained $24,108 in home equity.
Affordability in West Palm Beach, FL
With a median household income of $52,250 and a median home price of $395,000, the price-to-income ratio in West Palm Beach is 7.6x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,715 compared to estimated monthly ownership costs of $2,160 gives a rent-vs-buy ratio of 0.80. In West Palm Beach, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in West Palm Beach
The effective property tax rate in Florida is 0.86%. On a home valued at $395,000, the estimated annual property tax bill is $3,397, or approximately $283/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in West Palm Beach is 108.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in West Palm Beach, FL?
The median home value in West Palm Beach, Florida is $395,000 as of March 2026. Home values have changed +6.5% over the past year, with a 5-year appreciation of 37%.
Is West Palm Beach a buyer's or seller's market?
West Palm Beach is currently a balanced market with 3 months of housing supply. Homes spend an average of 32 days on market, and the list-to-sale price ratio is 101%. Supply and demand are relatively balanced.
Are home values going up in West Palm Beach?
Yes, home values in West Palm Beach have increased by 6.5% over the past year. The 5-year appreciation rate is 37%, meaning a home worth $288,321 five years ago is now worth $395,000.
Is it better to rent or buy in West Palm Beach?
The average monthly rent in West Palm Beach is $2,715, while estimated monthly homeownership costs are approximately $2,160. The price-to-rent ratio is 12.1. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for West Palm Beach, Florida is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.