If you’ve been dreaming of buying a house in Palm Beach County, you’re not alone. With its pristine beaches, world-class golf, and vibrant boating culture, it’s no surprise why so many are drawn to this slice of paradise. But with the market staying strong and demand high, many buyers wonder: Can I really find a home in Palm Beach County within my budget? The answer is: yes, you can—with the right strategy and guidance.
In this guide, we walk you through what you need to know about the real estate market in Palm Beach County and give you expert tips on how to nab your dream home without breaking the bank.
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OVERVIEW OF PALM BEACH COUNTY’S REAL ESTATE MARKET
Understanding the market is the first key to success. Palm Beach County’s real estate market is diverse and dynamic. From luxurious waterfront estates in Jupiter to charming bungalows in artsy communities like Lake Worth Beach, there’s something for every buyer.
Currently, the median sold price for a home in Palm Beach County sits at $515,511, which is higher than the national average of $361,263. You can expect to pay a premium for a waterfront property as well. Despite this, however, Palm Beach County is considered a buyer’s market, meaning that homes tend to be priced lower and stay on the market longer.
Affordability is a common concern, especially for buyers seeking that sweet spot between luxury and value. Fortunately, homes for sale in Palm Beach County span a wide price spectrum, with newer developments offering more affordable options.
Architectural styles
In addition to price variety, homes in Palm Beach County offer a mix of architectural styles that reflect the area’s coastal elegance and tropical climate:
- Mission Revival – Inspired by California’s Spanish missions, Mission Revival homes feature stucco walls, red-tile roofs, arched corridors, and bell towers, creating a simple yet elegant look perfect for Florida’s sunny climate.
- Spanish Revival – Spanish Revival homes boast ornate ironwork, decorative tiles, stucco exteriors, and low-pitched roofs. These designs blend rich textures and old-world charm, ideal for Palm Beach’s upscale, tropical setting.
- Mediterranean Revival – Mediterranean Revival showcases grand facades, red-tile roofs, arched windows, and lush courtyards. Influenced by Italian and Spanish villas, this style defines luxury living in Palm Beach’s waterfront neighborhoods.
- Georgian Revival – Georgian Revival homes feature symmetrical layouts, brick exteriors, columned porches, and multi-pane windows. This classic style brings East Coast sophistication to Florida, balancing formality with tropical elegance.
- American Four Square – American Four Square homes offer boxy, practical designs with wide front porches, hipped roofs, and spacious interiors—ideal for families seeking timeless charm in Palm Beach’s established neighborhoods.
- Monterey Revival – Monterey Revival blends Spanish Colonial and New England influences, with two-story designs, second-story balconies, and tile or shingle roofs, creating an elegant yet relaxed look suited for coastal Florida living.
Things to consider when buying a house in Palm Beach County
Buying a house is no small expense, especially in Palm Beach County, where the luxury market is strong and waterfront homes are sold at a premium. Here are some things you’ll want to consider before you start browsing the listings.
A. Financial readiness
Before diving into your search, it’s best to ensure that you’re financially prepared. Be ready to make a down payment, which can range from 3% to 20% of the home’s purchase price. The national median down payment is approximately 15%, but this figure can change based on location and demographics. For example, first-time home buyers make a median down payment of 9%, according to a 2024 report by the National Association of Realtors.
Opting for a larger down payment can have its advantages. By paying a larger percentage up front, you can reduce your monthly mortgage, lower the amount of interest you incur, make yourself eligible for better loan terms, and boost your attractiveness to sellers. Of course, only do this if you can afford it. Look at your current financial situation and assess if this is a viable option for you.
B. Mortgage and loan options
Lenders offer a variety of mortgage options to suit different types of buyers. Take your time to study the different options to find the right one for you. It’s best to also do your research on which broker offers the best deal on the type of mortgage you’re looking for. Here are the common types of mortgages you can avail:
- Conventional mortgage loan – These are loans usually provided by private institutions, such as lending firms and private banks. These loans require a good credit score and a 3% to 20% down payment, depending on the provider and loan product you avail. It offers flexible terms and is ideal for buyers with solid financial profiles seeking competitive rates.
- Adjustable Rate Mortgage (ARM) – An ARM offers a low initial interest rate that adjusts periodically based on market conditions. It’s great for buyers planning to move or refinance before rates go up, but riskier long term. Be prepared for market fluctuations that can increase your interest rate down the line.
- Jumbo loan – A jumbo loan is for financing properties that exceed conforming loan limits ($806,500 in Palm Beach County in 2025). Jumbo loans are common in luxury markets and typically require excellent credit, a larger down payment, and substantial financial reserves.
- FHA loan – Backed by the Federal Housing Administration, FHA loans allow down payments as low as 3.5% and have more lenient credit requirements, making them popular for first-time buyers. However, mortgage insurance premiums (MIP) are required for the life of the loan unless refinanced.
- VA loan – Guaranteed by the Department of Veterans Affairs, VA loans are available to eligible veterans, active-duty service members, and some spouses. They offer 0% down payment and require no private mortgage insurance, making them a highly advantageous option for those who qualify.
C. Buyer assistance programs
While most assistance programs target lower price points, both the state of Florida and Palm Beach County offer some financial support and incentives to first-time homebuyers.
- Florida Hometown Heroes Program – Offers down payment and closing cost assistance to first-time buyers who are employed full-time by Florida-based employers. Eligible buyers can receive assistance of up to 5% of the first mortgage loan amount (capped at $35,000).
- Florida’s Mortgage Credit Certificate (MCC) Program – Gives first-time buyers a federal tax credit up to 50% of their mortgage interest (capped at $2,000 annually).
- Palm Beach County SHIP Program – Through the State Housing Initiatives Partnerships (SHIP) program, first-time buyers can avail of down payment and closing cost assistance based on income. The program typically serves low to moderate-income first-time homebuyers.
- West Palm Beach First-Time Home Buyer Program – Provides up to $40,000 in assistance for eligible buyers purchasing within city limits.
- Delray Beach First-Time Homebuyer Program – Offers financial assistance toward down payment and closing costs for qualifying buyers purchasing within Delray Beach.
Private lenders may also offer grants or closing cost incentives to certain buyers, such as teachers, medical professionals, or first responders. It’s worth exploring your options and inquiring about local programs that may apply to you.
Finding affordable homes and neighborhoods in Palm Beach County
With a strategic approach, you can find homes for sale in Palm Beach County that fit your lifestyle and budget. Start by browsing listings in neighborhoods known for offering excellent value. You can also consider purchasing property in its pre-construction phase, known as “off plan” buying.
A. The right neighborhood for you
If you’re looking for homes with great value, try to zero in first on neighborhoods that fit your lifestyle and needs. All of these areas are excellent choices with a variety of housing options, with some up-and-coming neighborhoods gaining some popularity.
- Abacoa – Known for its green spaces, golf courses, and top-rated schools, Abacoa offers a suburban feel with amenities like shopping centers and restaurants. Annual events and an active community make it a family favorite.
- Jupiter Country Club – This resort-style community features large homes surrounding a Greg Norman Signature golf course. It offers luxury living with club amenities and scenic views.
- Sonoma Isles – A gated community with stunning lake views, a clubhouse, fitness center, and resort-style pool. Energy-efficient homes and a tranquil setting attract buyers looking for quality and peace.
- Rialto – This area features Mediterranean-style homes in a serene, laid-back atmosphere. With great schools, community pools, tennis courts, and playgrounds, Rialto appeals to families and retirees alike.
- Alton – A newer community in Palm Beach Gardens, Alton is a walkable lifestyle hub with easy access to shopping, dining, and entertainment. Residents enjoy fitness centers, basketball courts, tennis courts, and a resort-style pool.
- Northwood Village – A historic neighborhood with eclectic shops, galleries, and eateries. Its bohemian vibe and vibrant community events make it distinct from bustling downtown.
- Lake Worth Beach – This coastal town boasts a diverse cultural scene, colorful murals, and revitalized waterfront areas. Recent infrastructure investments are turning it into a highly desirable destination.
- Delray Beach – A picturesque coastal town with beautiful beaches and a thriving arts scene. Atlantic Avenue offers boutique hotels, gourmet restaurants, and new luxury condos.
- Jupiter – Known for small-town charm and upscale amenities, Jupiter offers pristine beaches, scenic waterways, and abundant outdoor activities. New residential communities and shopping centers are fueling steady growth.
- Boynton Beach – A coastal community offering affordable housing, waterfront parks, and a growing downtown district. It promises a high quality of life at a more accessible price point.
B. Off plan properties
Many of these neighborhoods are recent developments, with some areas even offering pre-construction or “off plan” properties. Buying off-plan properties can have its advantages, such as lower prices, customization options, flexible payment terms, early access to prime lots, and the potential for property value appreciation before completion.
If you’re not planning to move into Palm Beach County right away, exploring pre-construction developments might be a good option.
Strategies to stay within budget
Finding the right house for sale in Palm Beach County within budget may require some savvy, but we’ve got you covered. Here are several expert tips to find the right property for you that doesn’t break the bank.
- Flexibility and timing
Flexibility and timing are key strategies for finding a home in Palm Beach County within your budget. Being open to different neighborhoods, property types, or homes that may need light updates can reveal more affordable options without sacrificing location or potential.
Timing your purchase during slower seasons, like late summer or around the holidays, can also give you an edge in negotiations and help you secure a better price. Watching mortgage rate trends and acting when rates dip can further stretch your budget. By staying adaptable and strategic, you can land a home that meets both your needs and financial goals.
- Set a budget and plan for unexpected costs
Although there are a lot of moving parts in buying a house in Palm Beach, many resources online can help you estimate how much you need to budget for. Make sure to plan as well for unexpected expenses, like appraisal costs. Here’s a quick rundown of some expenses you’ll need to consider.
Upfront costs:
- Escrow Deposit – Typically 1% to 3% of the purchase price, held in escrow to demonstrate the buyer’s commitment.
- Home Inspection – Costs range from $300 to $600; additional inspections (e.g., mold, termite) may incur extra fees.
- Home Appraisal – Required by lenders; averages between $400 and $700, depending on property complexity.
- Property Survey – Often necessary for financed purchases to verify property boundaries; costs vary.
Closing costs:
- Title Search and Insurance – Ensures clear property ownership; fees depend on property value and location.
- Lender Fees – Include loan origination, processing, and underwriting fees; amounts vary by lender.
- Prepaid Expenses – Advance payments for property taxes and homeowners insurance required at closing.
Ongoing costs:
- Homeowners Insurance – Annual premiums can range from $2,000 to $4,000, influenced by location and coverage.
- Flood Insurance – Mandatory in FEMA-designated flood zones; typically costs between $700 and $1,500 annually, depending on the property.
- HOA Fees – Monthly dues for community maintenance; can range from $200 to $600, varying by community amenities.
- Community District Development (CDD) Fees – Annual assessments applicable mostly in newly developed communities to fund infrastructure; fees vary, often between $1,000 and $2,000.
- Property Taxes – Annual taxes based on property value. Florida offers homestead exemptions for primary residences, which can reduce taxable value by up to $50,000.
- Work with a local real estate expert
To get the best value for your purchase, we highly recommend working with an expert local realtor, like Mike Ivancevic.
Working with a real estate professional provides a slew of benefits, including access to off-market listings, insider knowledge of neighborhood trends, and hassle-free negotiation with sellers. With the right realtor, you can be sure that you’re getting the best deal on your purchase within the budget that you set.
EXPLORE PALM BEACH COUNTY REAL ESTATE WITH MIKE IVANCEVIC
So, can you really find a home in Palm Beach County within your budget? The answer is yes, absolutely! By understanding the market, exploring a range of neighborhoods, and working with the right expert, you can secure a property that meets your needs and lifestyle, all within the budget that you set.
Whether your heart is set on boating weekends, fishing trips, or relaxing by the water, Palm Beach County offers an unparalleled quality of life. No one knows this better than Mike Ivancevic. As a Palm Beach County native with 13 years of experience and more than $300 million in sales, Mike has helped countless clients achieve their dream of moving into the Sunshine State.
You could be next! Contact Mike today at 561.202.7102 or send an email to make your real estate dreams a reality.