Introduction
West Palm Beach, FL, continues to attract short-term rental investors with its picturesque beaches, lively downtown, and favorable year-round weather. Known for luxury real estate and vibrant communities, the city offers various submarkets that provide lucrative opportunities for Airbnb investments. Let’s explore the top-performing ZIP codes based on gross yield, annual revenue, and Zillow home values.
Introduction
ZIP Code 33417
- Gross Yield: 24%
- Annual Revenue: $40,335
- Zillow Home Value: $170,400
ZIP Code 33417 is situated in the northern parts of West Palm Beach, covering areas like Golden Lakes and parts of Haverhill. This ZIP code is known for its mix of suburban communities and retirement neighborhoods, making it an appealing area for short-term rental guests looking for a peaceful yet accessible vacation spot. With a gross yield of 24%, this area boasts high profitability potential, especially given its relatively low Zillow home value of $170,400. The combination of affordability and steady annual revenue makes this an excellent investment choice for those entering the West Palm Beach market.
ZIP Code 33413
- Gross Yield: 22%
- Annual Revenue: $109,597
- Zillow Home Value: $489,900
ZIP Code 33413 covers areas like the Villages of Palm Beach Lakes and neighborhoods surrounding Florida’s Turnpike. This submarket is known for its upscale gated communities and proximity to major highways, making it a convenient option for tourists. The impressive annual revenue of $109,597 indicates high demand, despite the higher Zillow home value of $489,800. The gross yield of 22% remains attractive for investors seeking properties that offer luxury amenities and strong rental income. This area is particularly appealing for guests traveling to West Palm Beach for both business and leisure.
ZIP Code 33406
- Gross Yield: 16%
- Annual Revenue: $70,778
- Zillow Home Value: $429,800
ZIP Code 33406 spans Lake Clarke Shores and the neighborhoods around Palm Springs, offering a blend of waterfront properties and suburban charm. Known for its quiet atmosphere and lush greenery, this area is ideal for families and groups seeking a relaxing vacation rental. The gross yield of 16% is slightly lower than other areas but still substantial, especially given the high annual revenue of $70,778. With 32 full-time listings, this ZIP code has moderate competition, making it crucial for investors to create unique and appealing rental experiences to capture a steady stream of guests.
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ZIP Code 33404
- Gross Yield: 13%
- Annual Revenue: $54,425
- Zillow Home Value: $412,200
ZIP Code 33404 covers parts of Riviera Beach and the luxurious Singer Island, renowned for its stunning beaches and high-end resorts. This ZIP code offers numerous activities for guests, including water sports, marinas, and beachfront dining. With 221 full-time listings, this market is one of the most competitive in West Palm Beach. However, the annual revenue of $54,425 and a gross yield of 13% still present a solid investment opportunity. Properties in this area benefit from a premium location and consistent demand, especially from vacationers looking to enjoy the coastal lifestyle.
ZIP Code 33409
- Gross Yield: 12%
- Annual Revenue: $36,528
- Zillow Home Value: $315,100
ZIP Code 33409 is centrally located, encompassing areas near Bear Lakes and the retail hubs along Palm Beach Lakes Boulevard. This area’s proximity to downtown West Palm Beach, major shopping centers, and public parks makes it a convenient option for tourists. While the gross yield of 12% is the lowest on this list, the annual revenue of $36,528 is respectable, especially when considering the mid-range Zillow home value of $315,100. With 59 full-time listings, this ZIP code has a manageable level of competition, and investors can focus on capturing short-term guests who prioritize accessibility and city amenities.
Conclusion
West Palm Beach presents diverse opportunities for short-term rental investments, from affordable properties in 33417 with high yields to luxury options in 33413 with significant revenue potential. Each ZIP code offers unique advantages, whether it’s the laid-back atmosphere of Lake Clarke Shores or the vibrant beachfront scene on Singer Island.
