Figure 5.2: Renter Occupied Unit Supply Change by Value Palm Beach County, 2014-2018 $2,000 or more $1,500 to $1,999 $1,250 to $1,499 $1,000 to $1,249 $900 to $999 $800 to $899 $750 to $799 $700 to $749 $650 to $699 $600 to $649 $550 to $599 $500 to $549 $450 to $499 $400 to $449 $350 to $399 $300 to $349 $250 to $299 $200 to $249 $150 to $199 $100 to $149 Less than $100 (5,000)
(3,000)
(1,000)
1,000
3,000
5,000
7,000
9,000
11,000
13,000
Imbalance of Palm Beach County Population Growth and Housing Supply Palm Beach County’s affordable housing supply and demand imbalance is further aggravated by a deficient level of new housing construction activity which has not kept pace with the County’s population growth since 2010. The County has had an average supply/demand gap of 2,732 housing units during the last ten years. The gap places added pressure on existing owner and renter values. This market dynamic has played out over the past six months with rapidly appreciating values that have priced most Palm Beach County residents out of the housing market.
Table 5.9: Palm Beach County Population Growth and Built Housing Actual Year Built
Population Growth from Previous Year
Avg. HH Size
New Housing Unit Demand
Gap/Surplus of Housing Units
Units Built
PBC Population
2010
2,142
1,299,356
2011
1,685
1,309,401
10,045
2.46
4,083
2,398
2012
3,019
1,324,085
14,684
2.49
5,897
2,878
2013
4,793
1,339,221
15,136
2.51
6,030
1,237
2014
4,882
1,359,074
19,853
2.53
7,847
2,965
2015
4,624
1,378,806
19,732
2.54
7,769
3,145
2016
5,586
1,398,757
19,951
2.56
7,793
2,207
Note: table continued.
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