Palm Beach Tops Florida in Home Value Growth with 118.2% Increase Over Five Years
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 attract affluent buyers to Florida, with one city in particular reaping the benefits. Recent housing data from GOBankingRates highlights the top five towns across Florida that have emerged as the fastest-growing home-value markets, driven by strong demand and limited supply.
In Palm Beach, homeowners have witnessed their property values more than double, with the average home now valued at approximately $9.8 million. The data indicates a 1.5% increase over the past year and an impressive 118.2% surge over the last five years, positioning Palm Beach as the prime location 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,” stated Douglas Elliman Exclusive Group’s Nick Malinosky in an interview with 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 added.
The sun rises on Worth Avenue in Palm Beach, Florida. (Getty Images)
Malinosky shares the optimism echoed by many Florida agents regarding Palm Beach’s future. He notes that the area is not only benefiting from a migration wave but also 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 explained.
However, he cautioned against misconceptions surrounding Palm Beach’s impressive statistics. “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 clarified.
“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 appreciation.”
While Palm Beach is synonymous with glitz and glamour, the other towns on the list are smaller, quieter parts of Florida, with average home values around $290,000 or less.
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Wauchula, an agricultural city located about 90 minutes southeast of Tampa, ranks second, with home values up 3.1% over the past year and 64.8% over five years.
Old Town, Florida, comes in third, showing increases of 3.2% and 48% over the one- and five-year periods. This unincorporated community, located near the Suwannee River, offers a more tropical atmosphere compared to urban settings.
South Bay, the westernmost municipality in the South Florida metro area, ranks fourth, with home values rising 1.2% over the past year and 61.5% over five years, according to GOBankingRates. Known for its proximity to Lake Okeechobee, South Bay boasts a laid-back, tight-knit community.
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Finally, Bell, a small town with fewer than 520 residents nestled in North Florida’s forests, rounds out the list. Home values average $290,622, reflecting a 1.2% increase over the past year and a 61.5% rise over five years.
“Major markets like Miami or Tampa already experienced earlier, sharper growth curves and started from higher baseline values. When you measure percentage growth over five years, smaller or less established markets can sometimes show more dramatic jumps simply because they began at a lower price point,” Malinosky explained.
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 attract affluent buyers to Florida, with one city in particular reaping the benefits. Recent housing data from GOBankingRates highlights the top five towns across Florida that have emerged as the fastest-growing home-value markets, driven by strong demand and limited supply.
In Palm Beach, homeowners have witnessed their property values more than double, with the average home now valued at approximately $9.8 million. The data indicates a 1.5% increase over the past year and an impressive 118.2% surge over the last five years, positioning Palm Beach as the prime location 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,” stated Douglas Elliman Exclusive Group’s Nick Malinosky in an interview with Fox News Digital. “Buyers today are relocating businesses, moving family offices, enrolling their children in local schools, and embedding themselves in the community.”
MIAMI MOVES AHEAD OF NEW YORK IN $1M-PLUS HOME AFTER NEARLY A DECADE
“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 added.
The sun rises on Worth Avenue in Palm Beach, Florida. (Getty Images)
Malinosky shares the optimism echoed by many Florida agents regarding Palm Beach’s future. He notes that the area is not only benefiting from a migration wave but also 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 explained.
However, he cautioned against misconceptions surrounding Palm Beach’s impressive statistics. “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 clarified.
“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 appreciation.”
While Palm Beach is synonymous with glitz and glamour, the other towns on the list are smaller, quieter parts of Florida, with average home values around $290,000 or less.
Luxury realtor Margit Brandt joins ‘Varney & Co.’ to break down Florida’s surging real estate market and explains how New York City mayoral candidate Zohran Mamdani is influencing housing trends.
Wauchula, an agricultural city located about 90 minutes southeast of Tampa, ranks second, with home values up 3.1% over the past year and 64.8% over five years.
Old Town, Florida, comes in third, showing increases of 3.2% and 48% over the one- and five-year periods. This unincorporated community, located near the Suwannee River, offers a more tropical atmosphere compared to urban settings.
South Bay, the westernmost municipality in the South Florida metro area, ranks fourth, with home values rising 1.2% over the past year and 61.5% over five years, according to GOBankingRates. Known for its proximity to Lake Okeechobee, South Bay boasts a laid-back, tight-knit community.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
‘The Big Money Show’ panelists weigh in on U-Haul’s 2025 ‘Growth Index’ and the exodus from blue states to red states.
Finally, Bell, a small town with fewer than 520 residents nestled in North Florida’s forests, rounds out the list. Home values average $290,622, reflecting a 1.2% increase over the past year and a 61.5% rise over five years.
“Major markets like Miami or Tampa already experienced earlier, sharper growth curves and started from higher baseline values. When you measure percentage growth over five years, smaller or less established markets can sometimes show more dramatic jumps simply because they began at a lower price point,” Malinosky explained.
