| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 58th | Fair |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6026 Old Congress Rd, Lake Worth, FL, 33462, US |
| Region / Metro | Lake Worth |
| Year of Construction | 1997 |
| Units | 53 |
| Transaction Date | 2015-01-15 |
| Transaction Price | $3,900,000 |
| Buyer | --- |
| Seller | Universal Properties Lantana |
6026 Old Congress Rd Lake Worth Multifamily Investment
Neighborhood indicators point to a stable renter pool and competitive positioning versus older local stock, according to WDSuite s CRE market data. While property performance will depend on execution, area rents and tenure dynamics suggest steady demand for well-managed units.
Located in Lake Worth s inner suburban fabric of the West Palm Beach Boca Raton Boynton Beach metro, the neighborhood holds a B+ rating and ranks 95 out of 319 metro neighborhoods competitive among local peers. Amenity access trends favor daily needs: grocery and pharmacy availability track in the upper national percentiles, though parks and cafes are limited, shaping a convenience-first rather than lifestyle-driven appeal for residents.
For multifamily property research, rent levels benchmark on the higher side for the metro (neighborhood contract rents sit in a high national percentile), and the share of housing units that are renter-occupied indicates a meaningful tenant base. By contrast, the neighborhood s occupancy is lower relative to national norms, underscoring the importance of asset quality, leasing strategy, and unit mix to sustain absorption and retention based on CRE market data from WDSuite.
Home values sit above national averages and the value-to-income ratio trends high, signaling a high-cost ownership market that can reinforce reliance on rental housing. At the same time, the rent-to-income ratio positions the area with relatively manageable affordability pressure, supporting lease stability if operators maintain disciplined renewal practices.
Within a 3-mile radius, demographic trends show population and household growth over the past five years, with projections calling for continued increases in households and incomes. A slight reduction in average household size points to incremental renter pool expansion, which can support demand for smaller formats and sustained occupancy over time. The property s 1997 vintage is newer than the neighborhood s average building age (late 1970s), offering competitive positioning versus older stock while still warranting planning for aging systems and targeted modernization to capture rent premiums.
Safety signals are mixed when viewed against metro and national benchmarks. Overall crime metrics sit below the national median (38th percentile nationally), indicating higher exposure than many U.S. neighborhoods, yet violent-offense indicators perform better around the 70th percentile nationally suggesting comparatively stronger outcomes on the most severe categories. Property-offense indicators track near the national middle (mid-50s percentile).
Relative to the West Palm Beach Boca Raton Boynton Beach metro, the neighborhood s crime rank is in the lower tier (ranked 269 out of 319), so investors should underwrite with attention to security, lighting, and resident experience. Year-over-year changes have shown recent increases in estimated offense rates; monitoring trends and aligning operating practices accordingly can help support retention and asset performance.
Nearby employers span financial services, food distribution, office products, energy, and healthcare, supporting a diversified employment base and commute convenience that can aid leasing and retention. Specifically, the area draws workers tied to Siegel Financial Group Northwestern Mutual, Sysco Southeast Florida, Office Depot, NextEra Energy, and Tenet Healthcare.
- Siegel Financial Group Northwestern Mutual financial services (8.8 miles)
- Sysco Southeast Florida food distribution (12.5 miles)
- Office Depot office products (12.7 miles) HQ
- NextEra Energy energy (18.9 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare services (22.8 miles)
- AutoNation automotive retail (32.3 miles) HQ
This 53-unit, 1997-vintage asset offers relative age advantage versus the neighborhood s older housing stock, supporting competitiveness on finishes and systems with targeted renovations. Neighborhood fundamentals show a meaningful renter-occupied share of units and home values above national norms, which can reinforce rental demand and aid retention. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends trail national norms, placing a premium on operations and leasing execution to capture demand.
Within a 3-mile radius, recent and projected gains in population, households, and incomes point to a growing tenant base and potential rent durability. Daily-needs accessibility (strong grocery and pharmacy presence) supports livability, while limited parks and cafes suggest a pragmatic, workforce-oriented profile. Investors should weigh these strengths against mixed safety readings and metro-relative crime ranks by calibrating security and community engagement in underwriting.
- 1997 vintage newer than local average with value-add potential through targeted upgrades
- Renter demand supported by high-cost ownership landscape and a sizable renter-occupied share
- Growing 3-mile population and household counts bolster the tenant pipeline and leasing stability
- Daily-needs amenities nearby (grocery/pharmacy) enhance resident convenience and retention
- Risks: below-national occupancy for the neighborhood and mixed safety signals warrant conservative underwriting