West Palm Beach Home Prices: $409K, Down 2.6% — 7 ZIPs Analyzed (2026)

$408,595. That’s what a typical home costs in West Palm Beach right now — and it’s falling. Prices dropped 2.6% over the past year, reversing the gains that pushed the city’s median above $419,000 in early 2025. For buyers who sat on the sidelines during the pandemic-era run-up, the numbers are finally moving in their favor.

Quick answer: The average home price in West Palm Beach, FL is $408,595 as of February 2026, down 2.6% year over year according to Zillow.

Current Home Prices in West Palm Beach

The median tells one story. The spread tells another.

A $324,000 gap separates the cheapest ZIP from the most expensive. That means West Palm Beach isn’t one market — it’s several. A buyer with a $300K budget and a buyer with $600K are shopping in completely different cities despite sharing the same city limits.

The 2.6% annual decline works out to roughly $10,900 in lost equity over twelve months. That’s real money. But context matters: prices peaked near $419,399 in March 2025, so the current median is still well above where it sat two years ago. The correction is mild, not a crash.

February’s reading of $408,595 ticked up slightly from January’s $406,727. One month doesn’t make a trend, but it’s worth watching whether this is a seasonal bounce or the start of a floor forming.

West Palm Beach Home Prices by Neighborhood

Most Expensive ZIPs

33405 leads the city at $603,506 — nearly 48% above the city median. Despite the highest home prices, rent here runs $2,419/month, not the highest in the city. Buyers are paying a premium for the location itself.

33413 comes in at $477,829, about 17% above the city-wide median. Rents are moderate at $2,175/month, suggesting this area attracts more owners than renters.

33401 sits at $435,136 with the highest rents in the city at $2,652/month. The downtown ZIP commands a rental premium that outpaces even the priciest residential areas.

Most Affordable ZIPs

33415 is the entry point at $279,066 — 32% below the city median. Rent runs $2,142/month, making it one of the cheaper areas for both buyers and renters.

33409 offers the second-lowest prices at $303,211 and the lowest rents in the city at $1,994/month.

33407 rounds out the affordable tier at $342,964, still 16% below the city median. Rents here are $2,241/month — higher than some pricier ZIPs, which hints at strong rental demand relative to home values.

Rent vs Buy in West Palm Beach

*Estimated mortgage assumes 20% down, 7% rate, 30-year fixed, plus 1% property tax and $2,500/year insurance.

The math varies dramatically by neighborhood. In 33415, buying is actually cheaper than renting — a monthly mortgage runs about $1,845 versus $2,142 in rent. That’s a rare find in South Florida.

In the expensive ZIPs, renting wins. A mortgage in 33405 costs roughly $3,991/month. Rent there is $2,419. You’d pay $1,572 more per month to own. Over a year, that’s nearly $19,000 in extra housing costs before you even factor in maintenance.

The city-wide picture: median rent across all ZIPs averages about $2,271/month. A mortgage on the city median of $408,595 runs approximately $2,724/month when you include taxes and insurance. Renting saves you roughly $450 per month, though you build no equity.

For budget-conscious buyers, the affordable ZIPs — 33415, 33409, and 33407 — are where the rent-vs-buy math gets competitive.

Population Growth and Migration

West Palm Beach added over 10,000 residents in four years.

The 8.7% growth from 2020 to 2024 is solid but not explosive. The biggest surge came in 2022, when nearly 4,200 people arrived in a single year. Growth has cooled since — 2024 added only 1,727 new residents.

How does that compare to other Florida cities?

West Palm Beach grew faster than Tampa but trails the boom towns on Florida’s Treasure Coast and Gulf Coast. Port St. Lucie’s 25% growth rate dwarfs everyone on this list.

The slowing population growth may be one factor behind the price decline. Fewer new residents means less demand pressure. If in-migration continues to taper, sellers will need to adjust expectations.

West Palm Beach Housing Market Trends

The twelve-month trend shows a clear arc: prices fell steadily from March through October 2025, then began inching back up.

October 2025 was the bottom at $404,643. Since then, prices have climbed for four consecutive months. The monthly gains are accelerating — from $70 in November to $1,868 in February.

The total decline from peak to trough: $14,756 or 3.5%. The recovery so far: $3,952 or about 1%. Prices have clawed back roughly a quarter of what they lost.

This pattern — decline, flattening, gradual recovery — looks more like a soft landing than a sustained downturn.

Is West Palm Beach a Good Place to Buy in 2026?

The data points to a buyer-friendly market with caveats.

Prices are down 2.6% year over year. That gives buyers more negotiating power than they’ve had since the pandemic. The affordable ZIPs — 33415 and 33409 — sit below $310,000, within reach for buyers who can’t compete in Miami or Fort Lauderdale.

The rent-vs-buy math favors buying in the cheapest neighborhoods. If you’re currently paying $2,100/month in rent in 33415, buying a home there could actually lower your monthly housing cost.

But don’t ignore the risks. Insurance costs in Florida are volatile and not captured in these estimates. The $2,500/year insurance assumption used above would be generous for many properties. Flood zones, aging roofs, and the state’s insurance market turmoil could push real costs higher.

The four-month price recovery is encouraging for current owners but means buyers who wait may face higher prices. The window of maximum discount may be closing.

West Palm Beach Housing Market Outlook for 2026-2027

The three-month trend is upward. Prices rose $832 in December, $1,182 in January, and $1,868 in February. Each month’s gain is larger than the last.

If the current pace continues, West Palm Beach could recover to $415,000-$420,000 by mid-2026 — erasing most of the 2025 decline. The accelerating monthly gains suggest demand is returning.

But the year-over-year number is still negative, and population growth has slowed. A full return to the March 2025 peak of $419,399 would require sustained monthly gains through summer — possible but not guaranteed.

The most likely scenario for the rest of 2026: prices drift upward through spring and summer buying season, potentially stalling or dipping slightly in fall. The days of 10-15% annual gains are over. Expect low single-digit movement in either direction.

Similar Markets in FL

If you’re exploring alternatives to West Palm Beach, several nearby Florida cities offer different price points:

• Fort Lauderdale — 30 miles south, part of the same metro area, with a larger inventory of waterfront properties.
• Tampa — Cross-state option on the Gulf Coast. Tampa grew 6.7% in population and often runs cheaper than South Florida.
• Miami — The big neighbor. Higher prices and faster population growth at 10%.
• Port Saint Lucie — North along I-95, with 25% population growth and generally lower price points.
• Jacksonville — North Florida’s largest city, typically one of the most affordable major metros in the state.

Frequently Asked Questions

What is the average home price in West Palm Beach?

The average home price in West Palm Beach is $408,595 as of February 2026. Prices range from $279,066 in ZIP code 33415 to $603,506 in ZIP code 33405. The city-wide median has declined 2.6% over the past twelve months.

Are home prices going up or down in West Palm Beach?

Year over year, prices are down 2.6%. But the short-term trend has reversed. Prices bottomed at $404,643 in October 2025 and have risen for four consecutive months. February 2026 posted the largest monthly gain in this recovery at $1,868.

Is it cheaper to rent or buy in West Palm Beach?

In most neighborhoods, renting is cheaper. The city-wide average rent is about $2,271/month, while a mortgage on the median home runs approximately $2,724/month including taxes and insurance. The exception is ZIP 33415, where buying costs less than renting.

What is the most affordable neighborhood in West Palm Beach?

ZIP code 33415 is the most affordable at $279,066 — 32% below the city median. The next cheapest is 33409 at $303,211. Both are under $310,000 and offer rents below $2,150/month, making them the most accessible entry points for first-time buyers.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.