West Palm Beach Multifamily Market Report

Tightening vacancy cushions supply risk. A 2025 delivery pullback helped Palm Beach County post one of the nation’s sharpest vacancy declines. Tightening has continued as of mid-2026, though second-half completions will lift annual deliveries more than 80 percent above last year’s total. Over 60 percent of units will open in Downtown West Palm Beach. Here, vacancy fell by a metro-leading 100 basis points over the year ended March to 4.8 percent, leaving the area better positioned to absorb new supply. Metro-low Class A and B vacancy in Delray-Boynton Beach should also aid future absorption, while ongoing development in Lake Worth Beach may keep local vacancy slightly elevated.