33462, Lake Worth, FL

Lake Worth, Florida is a city located in Palm Beach County. The 33462 zip code covers a total area of 2.5 square miles and has a population of about 60,000 people. Home equity is an important part of the American dream, and home prices have been on the rise for many years in Lake Worth.

In 2006, the median home value in Lake Worth was $236,000. By 2016, this number had increased to $368,000. This represents an increase of over 100%. Over this same period of time, the average annual rate of inflation was only 3%. This means that while home values have increased significantly over the past decade or so, they have not outpaced inflation as much as one might think.

There are several factors that may be contributing to this trend in home values in Lake Worth. One reason could be that there is a high demand for homes in Lake Worth due to its proximity to both Palm Beach and Miami-Dade counties. Additionally, Lake Worth has been experiencing strong economic growth over the past few years which may also contribute to higher home values.

Another factor that may be contributing to rising home values in Lake Worth is the low supply of homes available for purchase compared to demand. In recent years, there has been an increasing trend towards buying single-family homes instead of apartments or condos due to concerns about rising housing costs and limited availability of rental properties near downtown areas. As a result, there are more homes available for sale than there are buyers interested in purchasing them which can lead to higher prices for those who do find a property they want to buy.