Palm Cove median real estate price is $479,409, which is more expensive than 58.8% of the neighborhoods in Florida and 63.0% of the neighborhoods in the U.S.
The average rental price in Palm Cove is currently $2,545, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.6% of Florida neighborhoods.
Palm Cove is a rural neighborhood (based on population density) located in Panama City Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Palm Cove real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Palm Cove neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Palm Cove. The current real estate vacancy rate here is 41.1%. This is higher than the rate of vacancies in 97.8% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (39.9%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Panama City Beach, the Palm Cove neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Palm Cove is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Palm Cove is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, despite all of the residential real estate here in the Palm Cove neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 41.1%, which is higher than 97.8% of all U.S. neighborhoods.
The Palm Cove neighborhood stands out nationally for having a greater proportion of its residents active in the military than 97.6% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.
Furthermore, the Palm Cove neighborhood has a greater proportion of government workers living in it than 96.6% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Palm Cove neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Palm Cove neighborhood has more French Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have French Canadian ancestry.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Palm Cove neighborhood in Panama City Beach are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 45.6% of the neighborhoods in America. In addition, 9.5% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 51.2% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Palm Cove neighborhood, 43.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 33.5% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (14.2%), and 12.4% in clerical, assistant, and tech support occupations.
The most common language spoken in the Palm Cove neighborhood is English, spoken by 93.0% of households. Some people also speak Spanish (3.8%).
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Palm Cove neighborhood in Panama City Beach, FL, residents most commonly identify their ethnicity or ancestry as German (15.3%). There are also a number of people of Irish ancestry (13.7%), and residents who report English roots (9.2%), and some of the residents are also of Norwegian ancestry (3.8%), along with some Italian ancestry residents (3.0%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Palm Cove neighborhood spend between 15 and 30 minutes commuting one-way to work (45.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (78.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.