Is West Palm Beach cheaper than Palm Beach?
Is West Palm Beach cheaper than Palm Beach? Compared to neighboring Palm Beach, West Palm Beach is the significantly more affordable option for Florida coastal living. Palm Beach's cost of living is 97% higher than the Florida average, and median home prices in the area are $955,600.
Why do rich people love Palm Beach?
Palm Beach County has around 44 billionaires. The super-rich are flocking there for business opportunities, convenient transport links, and a chance to live in 'paradise. ' Palm Beach County's grew twice as fast as the US average over the past decade.
What is the most affordable beach town in Florida?
- 1) Daytona Beach.
- 2) Fort Walton Beach.
- 3) Pensacola.
- 4) Vero Beach.
- 5) Tarpon Springs.
- 6) Deerfield Beach.
- 7) Clearwater.
- 8) Lake Worth.
How many billionaires live in West Palm Beach?
From 2012 to 2022, the Florida city saw a millionaire growth rate of 90%. According to the report, in December 2022, West Palm Beach was home to 9,400 millionaires, 64 centi-millionaires, and six billionaires. West Palm Beach also ranked as a top three city in the U.S. where millionaires are buying second homes.
What is the richest part of Palm Beach?
- West Palm Beach. Median household income: $54.3 thousand. ...
- Palm Beach. Median household income: $105 thousand. ...
- Wellington. Median household income: $81 thousand. ...
- Jupiter Inlet Colony. Median household income: $133 thousand. ...
- Manalapan. ...
- Highland Beach.
Is West Palm Beach more expensive than Miami?
Living in West Palm Beach is ideal for anyone who wants a fun culture and great year-round weather. In addition, the cost of living in West Palm Beach is only 6% higher than the Florida average, which is more affordable than Miami's cost of living, which is 11% higher than the Florida average.
Is it affordable to live in West Palm Beach?
Fortunately, West Palm Beach is one of the most affordable coastal cities in Miami's Metropolitan Area. Compared to some nearby cities with a cost of living well over 20% above the national average, West Palm Beach is much more affordable, with housing costs only 4.4% more expensive than the national average.