Broward County: Are you worried about home prices?

Why you’d want to live there: More than a week after Hurricane Irma roared through South Florida, the city of Fort Lauderdale was still recovering from the storm. South Florida has always been connected to the Caribbean, but the Caribbean now sends more people to South Florida than the other way around. That influx is testament to the rising economy and phenomenal job growth. The price of land in the area is also at an all-time high. Try selling your home if you bought it before the Great Recession. It will be hard to make a good profit. The demand for homes is so high that house prices are increasing at a record rate. But will buyers be able to afford to buy, given that the median price for single-family homes has soared 71 percent since 2009?

Population: Fort Lauderdale is the third-largest city in the state of Florida and home to a famous hotel, the Seagate in the Broward County Airport. Miami Beach is home to the famed South Beach and a handful of international film studios. Boca Raton is a sleepy coastal town that started out as a shipbuilding town. There are also pockets of small independent towns scattered throughout the area.

Where to Live: In all, there are 77 towns in the region. According to Trulia, a national online home search service, Boca Raton had the greatest percentage of homes selling at above asking price since the housing crisis, while Fort Lauderdale is the city that is the least affordable. Although the area has long been off-limits to many Hispanic families, the high median income makes it a sweet spot for those looking to buy or rent a single-family home.

Leave a Comment