Second homes: You don't need to be a millionaire to buy in Palm Beach County

— -- Florida's reputation as a tourist mecca began in Palm Beach in the 1890s, when railroad tycoon Henry Flagler sought to create America's version of the French Riviera by building two grand resort hotels, The Breakers and the nearly 1,200-room Royal Poinciana.

Palm Beach island is still very much as Flagler envisioned it, with a beachfront strip of mansions, jewelry stores, boutiques and restaurants. But there is much more to Palm Beach County — at more than 2,500 square miles, it is bigger than Rhode Island or Delaware — with the most cultural venues and museums in the Sunshine State. Stretching from water-sport-centric Jupiter south to Boca Raton and west to huge Lake Okeechobee, it encompasses 170 golf courses and 47 miles of beaches, and it has three waterfronts: the Atlantic and both sides of the Intracoastal Waterway.

The city of Palm Beach was Flagler's original enclave, supplemented in the 1920s when architect Addison Mizner arrived and designed mansions and hotels for the rich (and later, the city of Boca Raton). "The Astors, Vanderbilts, Rockefellers, all the society from the Northeast came, and it created an aura on Worth Avenue, the precursor to Rodeo Drive," says Jorge Pesquera, president and CEO of the county's visitors bureau.

Eric Sain, a broker at Corcoran Group and president of the Realtors Association of the Palm Beaches, says entry-level in-town homes on Palm Beach island begin at $3 million to $4 million; two residences sold last year for more than $80 million — each.

Nonetheless, the county's median home price has dropped sharply, from a high of $420,000 about four years ago to $250,000. Away from ultra-exclusive Worth Avenue, there are plenty of viable second-home opportunities. The county's largest city, West Palm Beach, has several very desirable historic planned neighborhoods built in the Spanish Revival style.

A look at three Palm Beach County neighborhoods

• West Palm Beach. The largest city has the youngest population and breathes culture, with notable antique districts, the Norton Museum of Art and the giant Kravis Center for the Performing Arts. The old town is anchored by Clematis Street, lined with shops and restaurants. The median home price is $260,000, says real estate agent Eric Sain, and the most desirable homes are in the historic Spanish Revival neighborhoods such as El Cid and Flamingo Park, starting at more than $400,000, and on the water, from about $700,000.

• Wellington. Celebrities have been moving west to inland Wellington — a few weeks ago, Madonna made headlines with a $50,000 monthly lease. It is home to both the Palm Beach International Equestrian Center and Palm Beach Polo Club, and it has extensive equine facilities. "It is family-friendly, less densely developed, with large lots, parks, more nature and great schools," Sain says. Non-celebrity homes start in the high $200,000s.

• Delray Beach. "It's called 'the Village by the Sea,' and it's true, just the kind of atmosphere impossible to replicate today, with an old Main Street feel and the greatest stretch of beach in the county," says Jorge Pesquera of the county's visitors bureau. Atlantic Avenue is lined with shops and restaurants and surrounded by newer mixed-use developments such as Pineapple Grove, an enclave of art galleries and townhouses. "You can find townhouses within walking distance of Atlantic Avenue from the high $300,000s," Sain says.