Written by: Sanjin Hadziomerovic
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.
