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Old 05-29-2012, 10:23 AM
 
Location: Wellington, FL Palm Beach County & Sonoma County California 2015
1,984 posts, read 3,009,478 times
Reputation: 860

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Real Time real-estate blog | The Palm Beach Post Blog Archive Palm Beach County apartments see rising rates, falling vacancy
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Old 05-29-2012, 12:16 PM
 
Location: NJ
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I know where we are they will be going up big time next year for renewals, as they have been this year we have a very low vacancy rate here
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Old 05-29-2012, 01:12 PM
 
Location: Wellington, FL Palm Beach County & Sonoma County California 2015
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This will eventually price a lot of people out of the area, people who make less than average wages. Problem is a lot of areas of the country that have high rents or increasing rents have a much higher average median incomes and more jobs, Palm Beach County is not one of those places. People are not getting 3 to 4% annual wage increases little alone can they keep up with the inflation of everything else.

Not also withstanding a lot of rentals here are furnished short term/off season places. Wellington for example, a friend of mine told me he knows of a couple who rents a 1 bedroom apartment just for horse season and are only in the unit from Oct to late April, the rest of the year it sits empty, fully furnished and unused, they can't sublease and don't want to lose it for the following season so they just keep paying the rent and it's not cheap at least $1100 a month if not more.....
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Old 05-29-2012, 01:47 PM
 
623 posts, read 662,729 times
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4% vacancy rate in Boca! wow. Too low/ Too popular NOW! Anyone know what the vacancy rental rate is in Palm beach gardens?

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Old 05-29-2012, 01:48 PM
 
Location: NJ
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Quote:
Originally Posted by THX 1138 View Post
This will eventually price a lot of people out of the area, people who make less than average wages. Problem is a lot of areas of the country that have high rents or increasing rents have a much higher average median incomes and more jobs, Palm Beach County is not one of those places. People are not getting 3 to 4% annual wage increases little alone can they keep up with the inflation of everything else.

Not also withstanding a lot of rentals here are furnished short term/off season places. Wellington for example, a friend of mine told me he knows of a couple who rents a 1 bedroom apartment just for horse season and are only in the unit from Oct to late April, the rest of the year it sits empty, fully furnished and unused, they can't sublease and don't want to lose it for the following season so they just keep paying the rent and it's not cheap at least $1100 a month if not more.....
Your absolutely right we pay almost 2300 for a 3 bedroom/3 full bath townhome rental Apt with a 2 full car garage....however some of my neighbors rents have increased almost 175.00 a month insane...
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Old 05-29-2012, 02:00 PM
 
Location: Wellington, FL Palm Beach County & Sonoma County California 2015
1,984 posts, read 3,009,478 times
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Quote:
Originally Posted by Swimmom32 View Post
Your absolutely right we pay almost 2300 for a 3 bedroom/3 full bath townhome rental Apt with a 2 full car garage....however some of my neighbors rents have increased almost 175.00 a month insane...
Wow, that's a lot! Things are not getting more affordable here, that's for sure!
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Old 05-29-2012, 02:29 PM
 
Location: NJ
7,175 posts, read 12,324,033 times
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Quote:
Originally Posted by THX 1138 View Post
Wow, that's a lot! Things are not getting more affordable here, that's for sure!
No they definitely are not my daughter has quite a few friends moving after the school year, job loss or just Cost Of living related....its sad because its a beautiful place to live
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Old 05-29-2012, 05:11 PM
 
Location: Wellington, FL Palm Beach County & Sonoma County California 2015
1,984 posts, read 3,009,478 times
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Quote:
Originally Posted by Swimmom32 View Post
No they definitely are not my daughter has quite a few friends moving after the school year, job loss or just Cost Of living related....its sad because its a beautiful place to live
Yes, this is a tough area for many, a lot of people have to pick-up and leave and I know of many who had to do just this after a job loss. Some moved back up North and had to bought depression and a host of other things, others looked at it as a new beginning or chapter in their lives. It was nice while it lasted, but we don't live in the times of our parents.....times have changed.
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Old 05-29-2012, 07:01 PM
 
Location: NJ
7,175 posts, read 12,324,033 times
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Very well said...this economy has hurt so many people and families and life changes I really do hope it gets better....
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Old 05-29-2012, 07:10 PM
 
623 posts, read 662,729 times
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The low amount of rentals available means what then? Are so many people moving in DUE to jobs, or are most people moving to rentals due to not being able to get a mortgage or ?
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