Palm Beach County Sees $5B Boost in Property Value

Palm Beach County’s tax rolls surged by $5 billion, marking a major milestone driven by new construction and rising property values in 2025. According to the Palm Beach Post, this increase results from significant growth in both residential and commercial development. These gains represent a 9% year-over-year increase in the taxable value of property, reflecting the rapid pace of construction and the influx of new residents.

Key contributors include luxury residential towers, large-scale retail centers, and high-end mixed-use projects. These developments are driving up real estate values and strengthening the county’s financial position by broadening the tax base.

For homeowners, this means rising home equity; for buyers, a competitive market; and for investors, a promising long-term opportunity. Let’s explore what’s behind this growth and what it means for those living or investing in Palm Beach County real estate.

What’s Behind the $5 Billion Increase?

Several large-scale developments are fueling this growth:

NORA (North Railroad Avenue District) is transforming a once-overlooked area of West Palm Beach into a walkable hub of retail, offices, and boutique residences, bringing new energy and investment to the city’s core.
Luxury high-rise apartments and condos are going up along the waterfront and downtown areas.
Mixed-use developments, like retail centers with residential units, are spreading in Westlake, Palm Beach Gardens, and Boynton Beach.
Stephen Ross-backed projects, including the redevelopment of downtown West Palm Beach and expansion near The Square, are adding luxury residences, office towers, and curated retail to meet growing demand.

These projects don’t just raise property values. They attract workers, students, and investors who see Palm Beach County as a place to grow.

Why People Are Moving to Palm Beach County

Job growth from new companies and the tech sector.
No state income tax and lower property taxes compared to places like New York or California.
Mild winters, sunny beaches, and outdoor living year-round.
Improved infrastructure, including roads, schools, and healthcare facilities.

According to the Palm Beach County Property Appraiser, this growth helps fund local services and schools, while offering long-term stability for the region.

How Higher Property Values Affect Homeowners

Higher property values in Palm Beach County, particularly for new construction, can lead to increased property taxes, but Florida law helps keep things manageable by capping annual hikes for primary residences. On the upside, rising values also mean growing home equity, giving homeowners more flexibility to refinance, borrow, or sell with greater financial confidence.

What This Means for Buyers and Sellers in 2025

Should Buyers Be Worried About Rising Prices?

Buyers should act fast. As demand stays high, prices are likely to rise further. Interest rates may still fluctuate, so getting pre-approved and working with a trusted agent is key.

What Sellers Should Know About Pricing in a Growing Market

Sellers can take advantage of the market’s strength. Homes priced right are selling fast, often with multiple offers. It’s a good time to list if you’re looking to move or cash out equity.

Neighborhoods to Watch in Palm Beach County

Westlake – As one of Florida’s newest incorporated cities, Westlake is quickly becoming a hotspot for families and first-time buyers. Located in the central-western part of the county, Westlake has seen significant investments from major builders like Minto Communities. The area is being transformed with thousands of new homes, retail plazas, schools, and parks. Its affordable prices compared to coastal areas make it especially attractive to young families.

Downtown West Palm Beach – The stunning urban center is attracting young professionals, tech workers, and investors. New luxury condos, renovated historic buildings, and walkable streets make downtown a desirable place to live and work. Projects like the Nora District and The Square (formerly CityPlace) are bringing in high-end retail, dining, and cultural venues. This area is poised for sustained growth.

Boynton Beach – is now gaining popularity thanks to a surge of redevelopment. The city’s Community Redevelopment Agency (CRA) is driving efforts to breathe new life into the downtown area, with modern apartment and condo buildings rising near the Intracoastal and along Federal Highway. Boynton Beach’s prime location, close to I-95 and the beach, makes it an attractive option for commuters, retirees, and investors seeking both value and lifestyle convenience.

Hottest ZIP Codes for Real Estate Growth

According to Florida Realtors, hot ZIP codes include:

According to Florida Realtors, several ZIP codes in Palm Beach County are standing out for their market activity and rising home values:

33411 Royal Palm Beach – This suburban community is seeing strong buyer demand thanks to its family-friendly neighborhoods, access to top-rated schools, and proximity to Wellington and West Palm Beach. New construction and resale homes are both moving quickly, with prices steadily climbing.
33418 Palm Beach Gardens – Known for golf communities, luxury homes, and top-tier amenities, this ZIP code is popular with retirees and professionals alike. Inventory remains tight, pushing median prices higher and shortening days on market.
33435 Boynton Beach– Downtown redevelopment and waterfront projects have turned this area into one of the fastest-growing real estate zones in the county. Buyers are attracted to new condos, walkable shopping, and easy access to beaches and I-95.
33470 Loxahatchee – This area is gaining attention for its rural charm and larger lot sizes, making it attractive for buyers seeking space and privacy. With growth from nearby Westlake spilling over, property values are rising as demand increases.
33496 Boca Raton – A luxury market hotspot, this ZIP code includes gated communities, top private schools, and golf courses. High demand and limited inventory make it one of the most competitive markets in Palm Beach County.

These ZIP codes are seeing more listings, faster turnover, and year-over-year price increases, making them prime areas to watch in 2025.

Why Palm Beach County Real Estate Remains a Smart Investment

Palm Beach County remains a smart real estate investment due to steady population growth, job expansion driven by incoming finance and tech firms, and a limited housing inventory that keeps the market competitive. Coupled with its long-term lifestyle appeal, golf, beaches, and sunshine, it continues to draw retirees, families, and investors seeking both quality of life and strong returns.

Work With a Local Expert You Can Trust

Whether you're buying, selling, or investing, local knowledge makes all the difference. Contact The Mastropieri Group,Realtors® at (561) 544-7000 for expert advice on the Palm Beach County real estate market. Our team understands the trends and can help you take advantage of today's opportunities.

Posted by Larry Mastropieri on May 27th, 2025