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Forbes Names Palm Beach One of 2018's Fastest Growing Cities

POSTED ON: JUNE 19, 2018

Forbes Names Palm Beach One of 2018's Fastest Growing Cities

The annual Forbes' Magazine list of America's fastest growing cities is used as a barometer to present cities that have expanded or are currently expanding, based on economic factors. Using data and methodology refinement from Moody's Analytics, Forbes' has calculated that Palm Beach County has landed on the list's number 12 position. It's true that Palm Beach County houses notable historical sites, award winning restaurants, and stores for some of the most recognizable names in fashion, but those aren't the only draws for future Palm Beach County residents. Many of them are observing the financial culture, home values and local economics.

Forbes Names Palm Beach One of 2018's Fastest Growing Cities

Palm Beach County's population has changed drastically over the years. From 2016 to 2017, the population increased by about 22,000 people, putting the total population at 1,443,810. The percentage is expected to rise by 2.56% for 2018, up from 2.06% in 2017. For many residents, this is indicative of both business development and social economics.

Many residents live in an area due to its proximity to their careers. Palm Beach County's propensity of high-end jobs, ranging from work in technology, the financial sector, and the medical sector, offer high wages, flexible hours, and pleasant work environments. This is why Forbes predicts that job growth will rise from 2.12% in 2017 to 1.91% in 2018, with projected wage growth being 7.37% for 2018, compared to 4.56% from 2017.

With the rise of careers comes the rise of production, which creates the gross metropolitan product that Forbes was measuring. Technology careers, along with private artisan work, among others, has Forbes expecting about a 5.96% rise in GMP for 2018, up from 3.38% for 2017.

Home value is an excellent measure of the Palm Beach County area's growth. The projected home price growth for 2018 is to be 3.38%, accounting for the rising valuation of the US dollar. As a result, many sellers are considering putting their homes on the market, including ones with specialty features such as waterfront and luxury amenities, due to the dynamic factor of the area's housing market.

Helping to affect the market is the area's wealth of amenities and attentive public services, the advantage of no state tax, and the continuous construction of future residential developments. One can easily correlate the surge in residency to the construction of large projects within the area, such as the 2015 residence tower constructions and the 2015 rise in residency. With so many advantages, the Palm Beach County area's market is known for being particularly competitive, with many residents seeking to get as close as they can to waterfront, to local activities, and to hotel-style amenities.

Considering the area's offerings, it's easy to see why people are drawn to this area. Possessing historical areas, such as Whitehall, the mansion-turned-museum of Henry Flagler, shopping, such as the famous Worth Avenue and distinguished Gardens Mall, the relative peace afforded on the shores of John D. MacArthur State Park, and the dining found at the ever daring The Food Shack, the Palm Beach County area has established itself as the best place to have experiences unlike anything else.

Forbes Names Palm Beach One of 2018's Fastest Growing Cities

Offering all of these and more, Water Club's premier location in North Palm Beach puts you directly in the middle of the best shopping, dining, and entertainment that South Florida has to offer, while also granting you the peace and privacy of select waterfront residences. Limited move-in ready inventory remains at this one-of-a-kind address that include exclusive and expansive residences that offer breathtaking views of the Intracoastal Waterway and the Atlantic Ocean, to expansive terraces to spread out and enjoy the beautiful Florida weather on.

To preview everything the final tower will offer, or tour the move-in ready inventory, the Water Club Sales Gallery and model residences are open daily at 2 Water Club Way, North Palm Beach. Call 561.799.2837 to schedule an appointment. Move-in ready residences are priced from $1 million and pre-construction pricing is available on the third and final tower recently released for sale.