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Royal Palm Beach Real Estate Market Facts

  • $210,000Median home price
    26% higher than Florida
  • $1,490Median rent asked
    44% higher than Florida
  • 76.8%Home owners
    19% higher than Florida
  • 3.3People per home
    25% higher than Florida
Above, you'll find an overview of the real estate market in Royal Palm Beach, FL. Generally, real estate in the Royal Palm Beach, FL area is less affordable in Florida, as the median price of a home in Royal Palm Beach, FL is $210,000, which is 26% higher than the Florida average. The median rental price in Royal Palm Beach, FL is $1,490. This is 44% higher than the average rental price in Florida. Home owners comprise 76.8% of the population of Royal Palm Beach, FL, where an average of 3.3 people live in each home. Various real estate options from luxurious homes to affordable condos and urban townhomes are available in Royal Palm Beach, FL. Below, you can search for real estate listings in Royal Palm Beach, FL using our search functionality that allows you to personalize your search and filter out location, price, and number of bedrooms and bathrooms.

Royal Palm Beach Home Affordability

  • $210,000Median home price
    26% higher than Florida
  • $68,091Median home income
    39% higher than Florida
  • 3.1xHome price to income ratio
    10% lower than Florida
When searching for real estate in Royal Palm Beach, FL, home affordability is a critical aspect. The ratio of the house price to the median household income is one method used to figure out home affordability. In Royal Palm Beach, FL, the median house price is $210,000, while the median income for households in the area is $68,091. Therefore, the ratio of house price to income is 3.1x; this ratio is 10% lower than the average in Florida. The calculation for the ratio of home affordability requires dividing the median household income by the median house price. The lower the aforementioned ratio, the more affordable homes are - when comparing the house price to the household income. However, there are more factors that come into play in terms of home affordability. The calculator below determines home affordability, and it can help you decide how much money you can afford to pay for real estate in Royal Palm Beach, FL.

Royal Palm Beach Affordability Calculator

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Finding the right home in Royal Palm Beach, FL means not only finding the right piece of real estate that meets your specifications, but finding a home that is priced within your individual budget requirements. Using the home affordability calculator is one of the best ways to determine your price range when seeking a Royal Palm Beach, FL home, by inputting your down payment, income, and debt information. An even more detailed analysis can be generated by calculating additional factors, such as mortgage rate, length of mortgage, property taxes, home insurance, and any HOA dues. After evaluating these factors, the calculator will display the price range of homes within that individual budget. Determining your price range prior to beginning your house hunt in Royal Palm Beach, FL will streamline the process by allowing you to seek only the homes you can comfortably afford. Using the home affordability calculator to determine your housing budget also gives you the peace of mind of knowing how much will remain in your budget for savings and other expenses.

Royal Palm Beach Mortgage Calculator

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So you want to buy some real estate in Royal Palm Beach, FL. What can you expect to pay for it on a monthly basis? This is determined in a number of different ways. One of the biggest variables when it comes to calculating the monthly price is simply the cost of the house itself. There are other significant factors though, such as interest rates, home owner's association fees, the amount of a down payment that was put on the property, PMI (private mortgage insurance), and property taxes. You can eliminate all PMI payments by making a down payment of at least 20% on the house. Using a mortgage calculator will have all these variables available, but they will be filled out with default data. These can be tweaked and filled in with the data specifically for the home you're looking at for a better overview of the monthly cost. When buying a home, you want to keep your debt to income ratio at 36%. This means that you want to pay no more than 36% of your monthly income on your house and other debt payments.

Royal Palm Beach Demographics

  • 36,829Population
  • 3,190People / sq mile
  • 38.3Median age
  • 0.9:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Stacey Street, FL542$0100%
Plantation Mobile Home Park, FL1,280$0100%
Gun Club Estates, FL1,401$67,70063%
Schall Circle, FL1,217$76,90058%
Royal Palm Estates, FL3,346$79,30057%
Royal Palm Beach, FL36,829$210,00014%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Plant City, FL36,830$133,20028%
Lake Worth, FL36,838$151,50018%
Oakville, MO36,838$211,50015%
Beloit, WI36,812$85,00054%
Lynnwood, WA36,861$300,40063%
Royal Palm Beach, FL36,829$210,00014%
Source: The Royal Palm Beach, FL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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