Lake Park and Westlake Lead Palm Beach County Property Value Growth

Published: September 6th, 2026

Boca Raton and Palm Beach get all the attention. But the biggest property value jumps came from two towns you might not expect. Here is what is driving the surge.

Lake Park's taxable value jumped 38.7% year-over-year, driven largely by Nautilus 220.
Westlake grew 23.7%, fueled by Minto's master-planned community and a population that has grown tenfold since 2020.
Boca Raton remains the most valuable city at $42.7 billion, but smaller towns are posting the biggest percentage gains.

Two of Palm Beach County's smallest towns just posted the biggest property value gains. Lake Park (population around 9,000, near North Palm Beach) saw its taxable value jump 38.7% year-over-year, bringing cumulative value to nearly $1.8 billion. Westlake (26 miles west of Palm Beach) grew 23.7%, pushing its total value to nearly $2 billion. According to The Real Deal, neither town comes close to Boca Raton ($42.7 billion) or Palm Beach ($37.7 billion) in total value, but their growth rates tell you where the momentum is.

Why did Lake Park's value surge?

One project changed the city's tax base almost overnight. Nautilus 220 is a $269 million waterfront development at 220 Lake Shore Drive featuring two 24-story towers with 330 condos and 1.2 million square feet of residential, retail, office, and restaurant space. Residences are priced from $1.4 million to $4.6 million. The project held its grand opening in March 2026, and more than 90% of units have already sold.

As Larry Mastropieri explained on the Discover South Florida Podcast: "Lake Park is kind of this forgotten little city. It is not known for being a super wealthy area, and you do not usually see a lot of million-dollar sales there. Nautilus 220 is a very unique product for that market."

Developed by Forest Development (Peter Baytarian) and Royal Palm Companies (Daniel Kodsi), Nautilus 220 is expected to generate approximately $2 million in annual property tax revenue, roughly 16% of Lake Park's total budget. That is the kind of fiscal impact a small city notices immediately.

What is driving Westlake's growth?

Westlake's story is different. Instead of one landmark project, the entire city is new construction. Minto Communities is building a master-planned community of at least 6,500 homes on what was empty farmland a decade ago. The population has grown tenfold in six years: from 906 residents at the 2020 Census to an estimated 10,675 in 2026. Median household income is $131,925.

Larry added: "Westlake is very unique as well, but in a different way. It is a newer community, and it has not existed very long. Its 23.7% growth is being fueled by Minto's master-planned community and a population that has grown tenfold in six years."

This year, Minto sold a 24.3-acre site for a Walmart Supercenter, a commercial milestone for a community still in its buildout phase. A Lowe's Home Improvement (which will also serve as Lowe's regional headquarters) closed in January 2026. The city's first-ever school, a $48 million elementary, opens in August 2027.

Looking at new construction in western Palm Beach County? Talk to a West Palm Beach real estate agent who tracks pricing across Westlake, Avenir, and the surrounding corridor. Reach out to The Mastropieri Group or call (561) 556-9853.

Why do cities want this kind of development?

New projects create taxable value. When that growth is managed well, it can help fund better infrastructure, parks, sewer, drainage, and roads. A city that owns vacant land collects no tax revenue from it. A city with $269 million in new waterfront condos collects millions annually.

Lake Park had to amend its comprehensive plan to allow Nautilus 220's density, and Forest Development is already proposing twin 25-story towers (Oculina) on the adjacent Riviera Beach side. Westlake was incorporated specifically to manage the growth Minto was bringing. Both cities made deliberate choices to attract development, and the surge in property values is the result.

How does this fit the broader western PBC corridor?

Westlake is part of the same western Palm Beach County corridor we have tracked across multiple episodes. Kolter has invested over $117 million in Avenir, Palm Beach Gardens' largest master-planned community. Home2 Suites is bringing the first branded hotel to Loxahatchee. GL Homes paid $80 million for 192 acres in Westlake to build Silver Lake, a community with over 1,000 planned homes.

The surge in property values confirms what the developers already bet on: this corridor is maturing from rural to suburban. Builders are coming back for more lots because homes are selling, infrastructure is arriving, and the resale market is already active.

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Frequently Asked Questions about Palm Beach County Property Values

Which Palm Beach County city has the highest property value?

Boca Raton is the most valuable municipality in Palm Beach County with a taxable value of $42.7 billion. Palm Beach is second at $37.7 billion, though it has the highest value per square mile given its small size. Lake Park and Westlake are much smaller in total value but posted the highest year-over-year growth rates in 2026.

How does new construction affect a city's tax base?

New construction adds taxable value, generating property tax revenue for the city. Nautilus 220, for example, is expected to generate approximately $2 million in annual property tax revenue for Lake Park, roughly 16% of the city's total budget. Cities with stagnant or declining construction often see flat or falling tax revenues.

What is Westlake Florida?

Westlake is Palm Beach County's 39th municipality, incorporated in 2016. Minto Communities is developing a master-planned community of at least 6,500 homes on what was farmland. The population has grown from 906 in 2020 to an estimated 10,675 in 2026. Commercial development now includes Walmart, Lowe's, Chase Bank, and other retail.

Is western Palm Beach County a good place to buy a home?

Western Palm Beach County offers more affordable new construction than coastal areas, with master-planned communities like Westlake, Avenir, Arden, and Cresswind offering homes from the $500,000s to over $1 million. Buyers should consider commute times to employment centers and the pace of commercial development when evaluating the area.

What is Nautilus 220 in Lake Park?

Nautilus 220 is a $269 million waterfront development at 220 Lake Shore Drive in Lake Park featuring two 24-story towers with 330 condos. Developed by Forest Development and Royal Palm Companies, the project opened in March 2026 with residences priced from $1.4 million to $4.6 million. More than 90% of units have sold.

Local help for buyers in Palm Beach County

If you are buying, selling, or investing in Lake Park, Westlake, or anywhere in Palm Beach County, understanding how new construction and population growth affect property values matters. Reach out to The Mastropieri Group, Realtors®.

For practical, hands-on support across Palm Beach County, call (561) 556-9853.