Royal Palm Beach, Florida Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Royal Palm Beach, Florida rental market.
Highlights
An apartment for rent in Royal Palm Beach, Florida typically goes for $2,224 per month, while a single-family home for rent in Royal Palm Beach, Florida has a monthly cost of around $3,721. Renter-occupied units make up 19% of the local housing market, while the rental vacancy rate in Royal Palm Beach, Florida is at 4.2.
Royal Palm Beach, Florida
Average Apartment Rent
$2,224
Y-o-Y Change in Average
Apartment Rent
1.6%
Average Single-Family Rent
$3,721
As of November 2024
Compared to a year ago, Royal Palm Beach, Florida apartments have recorded a 1.6% rent increase.
Royal Palm Beach, Florida Average apartment rent trend
Royal Palm Beach, Florida Average Apartment Rent
Royal Palm Beach, Florida Apartment rent ranges
At 61.61%, apartments priced Over $2,000 represent the bulk of Royal Palm Beach, Florida rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 6.78%.
Royal Palm Beach, Florida Housing tenure**
Renters take up 19% of Royal Palm Beach, Florida real estate, occupying a total of 2,546 units, while homeowners live in 10,514 properties.
Median number of rooms of renter-occupied housing units**
5
Renter median household income**
$78,198
Average household size of renter-occupied housing units**
3.03
Rental vacancy rate**
4.2%
Royal Palm Beach, Florida Renter-occupied housing units by no. of bedrooms**
There are 1,040 rentals in Royal Palm Beach, Florida with 3 beds making up the highest share of the market, at 41%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 58 units. Overall, the median number of rooms in Royal Palm Beach, Florida homes for rent is 5.
Royal Palm Beach, Florida Renter-occupied units by age of householder**
Most condos for rent in Royal Palm Beach, Florida are occupied by residents in the 45 - 54 years age group (32%), followed by those in the 35 - 44 years age group (25%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 1%.
Royal Palm Beach, Florida Renter-occupied housing units by family type**
Royal Palm Beach, Florida Renter-occupied housing units by the presence of own children**
A total of 1,840 apartments for rent in Royal Palm Beach, Florida, or 72% of all rentals are family households. Additionally, 50% of rental homes include children under the age of 18 – that’s 1,281 units. All in all, the median size of a renter-occupied household in Royal Palm Beach, Florida is 3.03.
Royal Palm Beach, Florida Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 34% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Royal Palm Beach, Florida.
Royal Palm Beach, Florida Renter-occupied units by year structure built**
The highest share of Royal Palm Beach, Florida apartment rentals, namely 35% or 881 units, were Built 1980 - 1989, followed by those Built 2000 - 2009 (28%, 725 units), and the ones Built 1990 - 1999 (13%, 324 units).
Royal Palm Beach, Florida Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Royal Palm Beach, Florida renters (41%) moved in 2010 to 2017, while only 5% of them moved in 2000 to 2009. Overall, the median year renters have occupied their Royal Palm Beach, Florida condos for rent is 2018.
Royal Palm Beach, Florida Renter-occupied housing units by vehicles available**
When it comes to transportation options, 46% of Royal Palm Beach, Florida renters have 2 vehicles available per household, 34% of them have 1 vehicle available, and 8% have No vehicle available.
Royal Palm Beach, Florida Means of transportation to work of householders living in renter-occupied housing units**
Royal Palm Beach, Florida Geographical mobility in the past year for householders living in renter-occupied housing units**
Royal Palm Beach, Florida Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Royal Palm Beach, Florida apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
