Sell Your Commercial Property In Palm Beach County, FL

Who rents in Palm Beach County

Renters head 181,166 of the 605,430 occupied households in Palm Beach County, a 29.9% share in the 2020-2024 ACS. Owners hold the larger block, at 424,264 households. Lake Worth Beach posts the highest renter share among covered cities, at 54.1%, and West Palm Beach follows at 49.5%.

Royal Palm Beach sits at the other end, with only 17.7% of households renting. Jupiter and Wellington also lean toward owners, with renter shares near one in four. Boynton Beach and Delray Beach fall in the middle of Palm Beach County's range, each with roughly a third of households renting.

Rents, growth and affordability

Palm Beach County's median gross rent climbed 37.1%, from $1,398 to $1,916, between the 2015-2019 and 2020-2024 surveys. Population grew far more slowly over the same span, up 4.7% to 1,533,806 residents, an addition of 68,779 people.

Renter households rose only 5.0%, adding 8,682 households, while units in 5+ unit buildings grew 5.1%, an increase of 11,000 units. That slower supply growth helps explain a 62.3% rent burden, the share of Palm Beach County renters paying 30% or more of income on gross rent.

Rental vacancy in Palm Beach County stands at 7.3%. HUD's FY2027 two-bedroom Fair Market Rent for the West Palm Beach-Boca Raton area is $2,349, a full $433 above the county's median gross rent, a gap that points to upside in higher-end submarkets.

City-by-city comparison

West Palm Beach carries the largest renter pool among covered cities, with a 49.5% renter share and 43.6% of its units in 5+ unit buildings. Boca Raton runs the densest apartment stock in the table, at 47.1%, despite a lower 34.3% renter share.

Vacancy varies sharply across Palm Beach County cities. Royal Palm Beach posts 2.1% and Greenacres 4.5%, while Delray Beach reaches 11.5%. Rent ranges from $1,545 in Lake Worth Beach to $2,562 in Wellington.

Lake Worth Beach pairs that low rent with the county's highest renter share, at 54.1%. Boynton Beach runs 35.3% renters and 10.6% vacancy. Jupiter posts $2,381 rent with only 6.3% vacancy, among the tightest markets in the table.

Property taxes and assessment in Palm Beach County

Palm Beach County assesses apartment buildings and other non-homestead property at just value as of January 1 each year, with no homestead exemption available to investment or commercial parcels. Florida's constitutional cap limits annual assessment increases on non-homestead property to 10%, but a sale resets the building's taxable base for the buyer.

The Palm Beach County Property Appraiser sets that value, and county, school, city and special-district taxing authorities each add their own millage on top of it. Pull the full tax bill for the parcel's exact location before you price a sale, since rates stack differently from West Palm Beach to Wellington.

Florida's documentary stamp tax applies at the deed transfer, at $0.70 per $100 of consideration statewide. On a $2,000,000 sale in Palm Beach County, that comes to $14,000, a cost usually split or negotiated between buyer and seller.

What this means if you sell in Palm Beach County

When you sell commercial property in Palm Beach County, FL, you sell into a deep renter pool anchored by West Palm Beach, Lake Worth Beach and Boynton Beach. Renters hold 29.9% of county households, and 31.4% of units sit in 5+ unit buildings. The 7.3% rental vacancy rate is the counterweight, and buyers will test your rent roll against it city by city.

Taxes come next. Buyers underwrite the post-sale appraisal, not your current bill, since Palm Beach County resets non-homestead value each January 1 with a 10% annual cap. Rent control is not a factor, since Fla. Stat. 125.0103 preempts counties from price-control ordinances outside a narrow emergency process.

As a multifamily buyer in Palm Beach County, we review 5+ unit buildings from West Palm Beach to Jupiter as they stand today. Send a current rent roll, a T-12 and the latest tax statement, and we will price the building on those numbers.