Palm Beach leads Florida home values with 118.2% five-year growth
Former Manalapan Mayor Stewart Satter and Douglas Elliman’s Nicholas Malinosky speak exclusively to Fox News Digital about the $75 million land relisting of Satter’s ultra-luxury property.
Sunshine, low taxes and luxury living continue to draw wealthy buyers to Florida — and one city in particular is reaping the rewards.
New housing data from GOBankingRates reveals the top five towns across Florida that have become the fastest-growing home-value markets, fueled by strong demand and limited supply.
In Palm Beach, homeowners have seen their property values more than double — with the average home now worth about $9.8 million. The data show a 1.5% increase over the past year and a 118.2% jump over five years, making Palm Beach the top spot for those seeking the highest return on investment.
“Previous cycles in Palm Beach were largely tied to broader economic expansions or speculative waves. What’s different this time is the permanence,” Douglas Elliman Exclusive Group’s Nick Malinosky told Fox News Digital. “Buyers today are relocating businesses, moving family offices, enrolling their children in local schools, and embedding themselves in the community.”
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“There’s also far more institutional-level capital and long-term wealth involved compared to prior booms. Inventory remains limited, land is finite and barriers to entry are high, which makes this cycle feel more structurally supported rather than momentum-driven,” he continued.
The sun rises on Worth Avenue in Palm Beach, Florida. (Getty Images)
Malinosky echoed what many other Florida agents have said about Palm Beach’s future — expressing bullish optimism as a new wave of high-net-worth individuals establishes families and businesses there.
“Palm Beach today is not just benefiting from a migration wave, it’s benefiting from wealth consolidation. We’re witnessing a generational shift where capital is becoming more mobile, and Florida is a strategic destination for that capital,” he said.
But he also cautioned against misconceptions about Palm Beach’s headline numbers.
Related Ross Executive Vice President Jordan Rathlev and health-tech firm Visium CEO John Rajchert speak to Fox News Digital about the influx of businesses and employees moving to West Palm Beach and how their companies are leading the charge.
“When people see 100% growth, they often assume it’s uniform across the board, and that’s rarely the case. Appreciation in Palm Beach has been highly segmented. Trophy waterfront estates and prime in-town properties have seen extraordinary gains, while other categories may have appreciated at a more moderate pace,” Malinosky explained.
“Another nuance that gets lost is replacement cost. Construction costs, land scarcity and development restrictions have all risen dramatically,” he added. “In many cases, current values reflect the true cost of recreating these assets today, not just speculative…
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