| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Poor |
| Demographics | 71st | Good |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3171 Village Blvd, West Palm Beach, FL, 33409, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1985 |
| Units | 27 |
| Transaction Date | 2011-12-29 |
| Transaction Price | $16,600,000 |
| Buyer | MORGUARD VILLAGE CROSSING LLC |
| Seller | AIMCO VILLAGE CROSSING LLC |
3171 Village Blvd West Palm Beach Multifamily Asset
Household and population growth within a 3-mile radius signal a larger tenant base and steady renter demand, according to WDSuite’s CRE market data.
Situated in an inner-suburb pocket of West Palm Beach, the neighborhood shows mixed operating signals for multifamily investors. Neighborhood occupancy ranks 199 out of 319 metro neighborhoods, indicating performance below the metro median, while median contract rents are positioned in the higher range nationally. This combination suggests careful lease management is important, but pricing remains supportable relative to income levels in the area.
Renter-occupied housing concentration ranks 119 of 319, making it competitive among West Palm Beach-Boca Raton-Boynton Beach neighborhoods and indicating depth in the tenant base. In the 3-mile radius around the property, recent gains in households and population—and projections for continued increases through 2028—point to ongoing renter pool expansion that can support occupancy stability over time.
Lifestyle amenities are limited within the immediate neighborhood footprint (very low counts of cafes, groceries, and pharmacies), so residents typically rely on nearby corridors for daily needs. Parks density stands out as a relative strength (top quartile nationally), offering recreational access that supports livability for long-term renters.
Ownership costs in the area are moderate in a national context, which can temper move-outs to homeownership while still requiring competitive positioning versus for-sale options. Rent-to-income levels skew favorable for retention, giving operators room to emphasize service quality and renewals rather than turnover-heavy strategies based on aggressive rent steps.
Safety indicators are broadly around the metro middle, with overall crime ranked 162 out of 319 West Palm Beach-Boca Raton-Boynton Beach neighborhoods. Compared nationally, the area rates above average for violent offense safety (around the top quartile), while property offense levels are closer to the national midpoint.
Trend-wise, violent offense estimates improved markedly year over year (a strong improvement versus national patterns), which supports a cautiously positive view on neighborhood stability. Investors should continue to track submarket trends rather than block-level variation when underwriting.
Nearby employers span food distribution, financial services, energy, office supply, and healthcare administration, supporting a diverse commuter base and reinforcing multifamily demand through commute convenience.
- Sysco Southeast Florida — food distribution (1.6 miles)
- Siegel Financial Group - Northwestern Mutual — financial services (2.8 miles)
- NextEra Energy — energy & corporate offices (8.2 miles) — HQ
- Office Depot — office supply corporate (23.5 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (32.5 miles)
This 27-unit asset sits in an inner-suburban location where renter demand is supported by a competitive renter-occupied housing share and a growing 3-mile demographic footprint. While neighborhood occupancy trails the metro median, balanced rent levels relative to incomes suggest retention-focused operations can sustain cash flow. According to CRE market data from WDSuite, parks access and a diversified nearby employment base underpin livability that helps stabilize leasing.
Forward-looking demographics within 3 miles show continued population and household growth through 2028, implying a larger tenant base and ongoing leasing depth. Limited near-field retail means residents rely on nearby corridors, so marketing should highlight commute convenience and regional amenity access rather than walkable retail.
- Competitive renter-occupied share in the neighborhood supports depth of tenant demand
- 3-mile population and household growth points to sustained leasing momentum
- Rent levels align with local incomes, aiding renewal and retention strategies
- Parks access and diversified nearby employers enhance livability and retention
- Risks: occupancy below metro median and limited immediate retail require careful lease management and marketing