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LOCAL ECONOMIC AREA REPORT

Palm Beach County, Florida

Presented by

Matthew LegerThis report is powered by Realtors Property Resource®, a wholly owned subsidiary of the National Association of

REALTORS®

Copyright 2016 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity.

4/12/2016

Criteria Used for AnalysisIncome:Median Household Income

Age:Median Age

Population Stats:Total Population

Segmentation:1st Dominant Segment

$52,951 45.0 1,368,030 The Elders

Consumer SegmentationLife Mode UrbanizationWhat are thepeople like thatlive in this area?

Senior StylesSenior lifestyles reveal the effects of saving forretirement

Where do peoplelike this usuallylive?

Suburban PeripheryAffluence in the suburbs, married couple-families, longercommutes

Top TapestrySegments The Elders Silver and Gold

HomeImprovement

AmericanDreamers

RetirementCommunities

% of Households 79,480 (14.3%) 43,829 (7.9%) 33,360 (6.0%) 29,530 (5.3%) 25,587 (4.6%)

% of Florida 442,566 (5.8%) 319,977 (4.2%) 229,108 (3.0%) 374,341 (4.9%) 214,653 (2.8%)

Lifestyle Group Senior Styles Senior Styles Family Landscapes Ethnic Enclaves Senior Styles

Urbanization Group Suburban Periphery Suburban Periphery Suburban Periphery Urban Periphery Metro Cities

Residence Type Single Family, High-Rise, Mobile Homes orSeasonal

Single Family orSeasonal

Single Family Single Family Multi-Units; SingleFamily

Household Type Married CouplesWithout Kids

Married CouplesWithout Kids

Married Couples Married Couples Singles

Average Household Size 1.67 2.02 2.86 3.16 1.86

Median Age 71.8 61.8 37 31.8 52

Diversity Index 20.3 22.4 63.4 83.3 46.4

Median Household Income $35,000 $63,000 $67,000 $48,000 $35,000

Median Net Worth $194,000 $294,000 $162,000 $53,000 $36,000

Median Home Value $153,000 $289,000 $174,000 $130,000 –

Homeownership 82.1 % 83.8 % 80.3 % 65 % 46.1 %

Average Monthly Rent – – – – $890

Employment Retired, Services,Professional orAdministration

Retired, Professionalor Services

Professional orServices

Services orAdministration

Retired, Professional,Services orAdministration

Education College Degree College Degree College Degree High School Graduate College Degree

Preferred Activities Buy clothing, exerciseequipment. Shop byphone or in person.

Play golf; goboating. Exerciseregularly.

Eat at Chili's, Chick-fil-A, PaneraBread. Shopwarehouse/club, homeimprovement stores.

Own feature-rich cellphones. Pay bills,socialize online.

Shop at largedepartmentstores. Supportpoliticalorganizations/othergroups.

Financial Bank in person Draw retirementincome

Invest conservatively Spend moneycarefully; buynecessities

Monitor financesclosely

Media Watch news, movies,golf, travel, history onTV

Read newspapers,magazines, books

Watch DIY Network Listen to urban orHispanic radio

Watch QVC, GolfChannel, CNN, sportson TV

Vehicle Drive luxury sedansaged 5+ years

Prefer luxury cars,SUVs, convertibles

Own minivan, SUV One or two vehicles One in five householdshas no vehicle


Copyright 2016 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity. 4/12/2016

Who We AreWith a median age of 71.8, The Elders isthe oldest market. Residents favorcommunities designed for senior orassisted living, primarily in warmerclimates with seasonal populations. Mostof these householders are homeowners,although their housing varies from mobilehomes to single-family residences tohigh-rise apartments. These seniors areinformed, independent and involved.

Our NeighborhoodPredominantly retirees, The Elders has a lowlabor force participation rate of 21.3%.Those who are still in the labor force tend tobe self-employed or part-timers, commonly inreal estate or the arts.Their income derives primarily from SocialSecurity (80% of the households), retirement,or investments (almost half of the households).Less than 30% of the households drawwage/salary income.Median household income is lower than theU.S. average, but median net worth is muchhigher.These consumers have definite opinions abouttheir spending, focusing on price, but not atthe expense of quality. They prefer to usecoupons and buy American andenvironmentally safe products.Cell phones are common but primarily used tomake/receive calls.

Socioeconomic TraitsSuburban periphery of metropolitan areas,primarily in the warmer climates of Florida orArizona.44% married couples without children; 44%single households; average household size,1.67.Owner-occupied housing units; median homevalue of $153,000.Housing mix of single-family homes (43%),town homes and high-density apartmentbuildings in neighborhoods built from 1970through 1989.Vacancy rates higher at 24%, due to thenumber of seasonal or vacation homes.Almost 60% of the population in groupquarters on nursing home facilities.

Market ProfileVehicles are just a means of transportation, buttheir first choice is luxury sedans. Most of theircars are older (5+ years).They are connected via modems (cable ordial-up) on older PCs or notebooks. However,banking is commonly done in person; shoppingis by phone or in person.Shopping includes apparel and exerciseequipment.They are avid readers, with audio books and e-readers. Newspapers and magazines arestaples for news and entertainment. Cable TVis also a must, primarily watching news ormovie channels, but also golf, travel andhistory channels.Residents are sociable seniors, partial to avariety of clubs and organizations andgenerous with their time and support.

An overview of who makes up this segment across the United States

The demographic segmentation shown here can help you understand the lifestyles and life stages of consumers in a market. Data provider Esri classifiesU.S. residential neighborhoods into 67 unique market segments based on socioeconomic and demographic characteristics. Data Source: Esri 2015. UpdateFrequency: Annually.

This is the

#1dominant segmentfor this area

In this area

14.3%of households fallinto this segment

In the United States


About this segment

The Elders



Who We AreSilver and Gold is almost the oldest seniormarket (second to The Elders). Thedifference of 10 years in median agebetween the markets reveals asocioeconomic difference: The youngermarket is the most affluent senior marketand is still growing. The affluence of Silverand Gold has afforded the opportunity toretire to sunnier climates that featureexclusive communities and vacationhomes. These consumers have the freetime, stamina and resources to enjoy thegood life.

Our NeighborhoodResidents of Silver and Gold prefer a morebucolic setting, but close to metropolitan cities.Predominantly single-family, owneroccupiedhomes that have a median value of $289,000.Neighborhoods include seasonal or vacationhomes, reflected in the high vacancy rate of35%.Mostly older married couples with no children,average household size is 2.02.

Socioeconomic TraitsWell-educated seniors, 44% have collegedegree(s).Primarily retired, but many still active in thelabor force, participation rate of 41%.Low unemployment at 7.2%; with self-employment highest among all segments.More than half of the households with incomefrom wages/salaries, Social Security orinvestments, many drawing retirement income.Connected, but primarily to get news and trackinvestments, more likely to own an e-reader ortablet than a smartphone.

Market ProfilePartial to luxury cars or SUVs; highest demandmarket for convertibles.Active seniors that maintain a regular exerciseregimen and pay attention to healthier eatinghabits.Pursue the luxuries that well-funded retirementaffords: an active social life, travel, hobbies,and sports (especially golf and boating) andliberal use of home maintenance services tominimize chores.Avid readers of newspapers, magazines (sportsand travel) and books (audio, e-readers ortablets).Generous supporters of charitableorganizations.



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About this segment

Silver and Gold



Who We AreMarried-couple families occupy well overhalf of these suburban households. MostHome Improvement residences aresingle-family homes that are owneroccupied, with only one-fifth of thehouseholds occupied by renters.Education and diversity levels are similarto the U.S. as a whole. These familiesspend a lot of time on the go and thereforetend to eat out regularly. When at home,weekends are consumed with homeimprovement and remodeling projects.

Our NeighborhoodThese are low-density suburbanneighborhoods.Eight of every 10 homes are traditional single-family dwellings, owner occupied.Majority of the homes were built between 1970and 2000.More than half of the households consist ofmarried-couple families; another 12% includesingle-parent families.

Socioeconomic TraitsHigher participation in the labor force andlower unemployment than US levels; mosthouseholds have 2+ workers.Cautious consumers that do their researchbefore buying, they protect their investments.Typically spend 4-7 hours per weekcommuting, and, therefore, spend significantamounts on car maintenance (performed at adepartment store or auto repair chain store).They are paying off student loans and secondmortgages on homes.They spend heavily on eating out, at both fast-food and family restaurants.They like to work from home, when possible.

Market ProfileEnjoy working on home improvement projectsand watching DIY networks.Make frequent trips to warehouse/club andhome improvement stores in their minivan orSUV.Own a giant screen TV with fiber-opticconnection and premium cable; rent DVDsfrom Redbox or Netflix.Very comfortable with new technology;embrace the convenience of completing taskson a mobile device.Enjoy dining at Chili's, Chick-fil-A and PaneraBread.Frequently buy children's clothes and toys.



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About this segment

Home Improvement



Who We AreLocated throughout the South and West,most American Dreamers residents owntheir own homes, primarily single-familyhousing--farther out of the city, wherehousing is more affordable. Medianhousehold income is slightly belowaverage. The majority of householdsinclude younger married-couple familieswith children and, frequently,grandparents. Diversity is high; manyresidents are foreign born, of Hispanicorigin. Hard work and sacrifice haveimproved their economic circumstance asthey pursue a better life for themselvesand their family. Spending is focusedmore on the members of the householdthan the home. Entertainment includesmultiple televisions, movie rentals andvideo games at home or visits to themeparks and zoos. This market is connectedand adept at accessing what they wantfrom the Internet.

Our NeighborhoodAmerican Dreamers residents are family-centricand diverse. Most are married couples withchildren of all ages or single parents;multigenerational homes are common.Average household size is higher than U.S.average at 3.16.Residents tend to live further out from urbancenters--more affordable single-family homesand more elbow room.Tenure is slightly above average with 65%owner occupancy; primarily single-familyhomes with more mortgages and slightlyhigher monthly costs.Three quarters of all housing were built since1970.Many neighborhoods are located in the urbanperiphery of the largest metropolitan areasacross the South and West.Most households have one or two vehiclesavailable and a longer commute to work.

Socioeconomic TraitsWhile nearly 16% have earned a collegedegree, the majority, or 63%, hold a highschool diploma only or spent some time at acollege or university.Unemployment is higher at 10.7%; labor forceparticipation is also higher at 67%.Most American Dreamers residents deriveincome from wages or salaries, but the rate ofpoverty is a bit higher in this market.They tend to spend money carefully and focusmore on necessities.They are captivated by new technology,particularly feature-rich smartphones.Connected: They use the Internet primarily forsocializing but also for convenience, likepaying bills online.

Market ProfileWhen dining out, these residents favor fast-food dining places such as Taco Bell orWendy's, as well as family-friendly restaurantslike Olive Garden, Denny's or IHOP.Cell phones are preferred over landlines.Favorite channels include Animal Planet,MTV, Cartoon Network, and Disney, as well asprogramming on Spanish TV.Residents listen to urban or Hispanic radio.During the summer, family outings to themeparks are especially popular.



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About this segment

American Dreamers



Who We AreRetirement Communities neighborhoodsare evenly distributed across the country.They combine single-family homes andindependent living with apartments,assisted living and continuous carenursing facilities. Over half of the housingunits are in multi-unit structures, and themajority of residents have a lease. Thisgroup enjoys watching cable TV and staysup-to-date with newspapers andmagazines. Residents take pride in fiscalresponsibility and keep a close eye ontheir finances. Although income and networth are well below national averages,residents enjoy going to the theater,golfing and taking vacations. While someresidents enjoy cooking, many have paidtheir dues in the kitchen and would ratherdine out.

Our NeighborhoodMuch of the housing was built in the 1970sand 1980s--a mix of single-family homes andlarge multi-unit structures that function atvarious levels of senior care.Small household size; many residents haveoutlived their partners and live alone.Over half of the homes are renter occupied.Average rent is slightly below the U.S.average.One in five households has no vehicle.

Socioeconomic TraitsBrand loyal, this segment will spend a littlemore for their favorite brands, but most likelythey will have a coupon.Frugal, they pay close attention to finances.They prefer reading magazines overinteracting with computers.They are health conscious and prefer name-brand drugs.

Market ProfileEnjoy hard-cover books, book clubs, crosswordpuzzles and Sudoku.Contribute to political organizations and othergroups.Entertainment preferences: bingo, opera andthe theater.Watch QVC, Golf Channel, CNN and sports onTV.Like to travel--including visits to foreigncountries.Shop at large department stores forconvenience.



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About this segment

Retirement Communities



20152020 (Projected)

Total PopulationThis chart shows the total population inan area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually


Population DensityThis chart shows the number of peopleper square mile in an area, comparedwith other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually


Population Change Since 2010This chart shows the percentage changein area's population from 2010 to 2015,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually


Average Household SizeThis chart shows the average householdsize in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Palm Beach County, Florida: Population Comparison




Population Living in FamilyHouseholdsThis chart shows the percentage of anarea’s population that lives in ahousehold with one or more individualsrelated by birth, marriage or adoption,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Women 2015Men 2015Women 2020 (Projected)Men 2020 (Projected)

Female / Male RatioThis chart shows the ratio of females tomales in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually




Median AgeThis chart shows the median age in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually


Population by AgeThis chart breaks down the population ofan area by age group.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Palm Beach County, Florida: Age Comparison



MarriedUnmarried

Married / Unmarried AdultsRatioThis chart shows the ratio of married tounmarried adults in an area, comparedwith other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

MarriedThis chart shows the number of people inan area who are married, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Never MarriedThis chart shows the number of people inan area who have never been married,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

WidowedThis chart shows the number of people inan area who are widowed, comparedwith other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

DivorcedThis chart shows the number of people inan area who are divorced, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Palm Beach County, Florida: Marital Status Comparison




Average Household IncomeThis chart shows the average householdincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually


Median Household IncomeThis chart shows the median householdincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually


Per Capita IncomeThis chart shows per capita income in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Average Disposable IncomeThis chart shows the average disposableincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Palm Beach County, Florida: Economic Comparison



Palm Beach CountyFloridaUnited States

Unemployment RateThis chart shows the unemploymenttrend in an area, compared with othergeographies.Data Source: Bureau of Labor Statisticsvia 3DLUpdate Frequency: Monthly

Employment Count byIndustryThis chart shows industries in an areaand the number of people employed ineach category.Data Source: Bureau of Labor Statisticsvia Esri, 2015Update Frequency: Annually



Less than 9th GradeThis chart shows the percentage ofpeople in an area who have less than aninth grade education, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Some High SchoolThis chart shows the percentage ofpeople in an area whose highesteducational achievement is some highschool, without graduating or passing ahigh school GED test, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

High School GEDThis chart shows the percentage ofpeople in an area whose highesteducational achievement is passing ahigh school GED test, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

High School GraduateThis chart shows the percentage ofpeople in an area whose highesteducational achievement is high school,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Some CollegeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is somecollege, without receiving a degree,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Palm Beach County, Florida: Education Comparison



Associate DegreeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is an associatedegree, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Bachelor's DegreeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is a bachelor'sdegree, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually

Grad/Professional DegreeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is a graduateor professional degree, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2015Update Frequency: Annually



Median Estimated Home ValueThis chart displays property estimates foran area and a subject property, whereone has been selected. Estimated homevalues are generated by a valuationmodel and are not formal appraisals.Data Source: Valuation calculationsbased on public records and MLS sourceswhere licensedUpdate Frequency: Monthly

12-Month Change in MedianEstimated Home ValueThis chart shows the 12-month change inthe estimated value of all homes in thisarea, the county and the state. Estimatedhome values are generated by avaluation model and are not formalappraisals.Data Source: Valuation calculationsbased on public records and MLS sourceswhere licensedUpdate Frequency: Monthly

Palm Beach County, Florida: Home Value Comparison



Best Retail Businesses

This chart shows the types of businesses that consumers are leaving an area to find. The business types represented by blue bars are relatively scarce in the area,so consumers go elsewhere to have their needs met. The orange business types are relatively plentiful in the area, meaning there are existing competitors for thedollars that consumers spend in these categories.Data Source: Retail Marketplace via Esri, 2015Update Frequency: Annually

Indexed Values From -100 to 100



RPR compiles the data in this report from a variety of sources:• Census data from the U.S. Census American Community Survey,provided by data partner 3DL• Demographic data known as Tapestry Segmentation, provided by datapartner Esri. Tapestry classifies U.S. residential neighborhoods into uniquemarket segments based on socioeconomic and demographiccharacteristics.• Valuation calculations are based on public records and MLS sourceswhere licensed

• Retail Marketplace data shown in the Best Businesses analysis isprovided by data partner Esri. This analysis compares supply and demandfor specific retail products. The results are presented as the gap betweenthe two in a location.

Most data types in this report are refreshed on an annual basis. The U.S.Census source dates are shown with each chart. The Esri Tapestry Segmentdata is 2015. The home valuation information is refreshed monthly.

About RPR

What is RPR?Comprehensive data, powerful analytics and dynamic reports for members of the National Association of REALTORS®

100% Owned by REALTORS®Created by NAR for the sole purpose of providing REALTORS® with the data they need to meet the demands of their clients.

Learn MoreFor more information about RPR and our programming, please visit our public website:http://blog.narrpr.com

About Our Data

Realtors Property Resource® is a wholly owned subsidiary of the NationalAssociation of REALTORS® provided exclusively to its members. This report hasbeen provided to you as a public service by a member of NAR.



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