Buying a home on a budget in Broward? Here’s where you’ll find cheapest deals
South Florida home buyers can still land a home at a bargain in Broward County.
The Miami Herald identified five areas with the lowest median sales prices in Broward, based on data compiled by Analytics Miami founder and real estate market analyst Ana Bozovic and the Multiple Listing Service. Bozovic compiled all sale closings in 2022 for single-family houses and condominiums and determined the sales price for each ZIP code in Broward. Some areas offered the best deals in the county for both condos and houses.
Buyers can find the cheapest housing in Lauderhill, Tamarac/Lauderdale Lakes, Sunrise, Deerfield Beach and Margate. The Lauderhill ZIP code 33313 has the lowest median prices for condos at $115,000, which is 55% below the county median of $254,083 for condos and houses. The midpoint price of $347,000 for houses is 37% less than the median of $553,125.
As a whole, Broward’s condo market alone had 1,438 listings below $200,000 as of January 2023, nearly five times more than the 321 listings in the same price range in Miami-Dade.
“People are moving into these locations because it’s a diverse area,” said Fabilene Raposeiro, a real estate agent with Compass.
Broward continues to be a haven for longtime residents, South Florida natives and newcomers, given the county has comparatively lower sales and rent prices than nearby Miami-Dade. Many neighborhoods — such as Tamarac — on this list have grown in popularity for first-time homebuyers and those on a tight budget for several years.
Still, more buyers are waiting on the sidelines for prices to drop even further. Sales activity has slowed across the board, Raposeiro said.
If the slowdown continStrapped ues — brought on by the higher interest rates — she expects prices to drop by 15% between now and early next year.
“If things continue to go the way they are, they will go into a buyer’s market,” she said.
Here’s where residents can find the cheapest houses or condos in Broward:
1. Lauderhill
Median sales price for condos: $115,000 (ZIP code 33313)
Median sales price for houses: $347,000 (ZIP code 33311)
Lauderhill slithers down the borders of Tamarac, Plantation and Lauderdale Lakes, and has easy access to the Florida Turnpike. In addition to parks, residents also have the Lauderhill Historical Museum, a 3,000-square-foot space that once housed City Hall.
2. Tamarac/Lauderdale Lakes
Median sales price for condos: $135,000 (ZIP code 33319)
Median sales prices for houses: $355,000 (ZIP code 33319) and $380,000 (ZIP code $380,000)
Tamarac and Lauderdale Lakes have drawn homehunters seeking deals since before the COVID-19 pandemic. The area borders the Florida Turnpike and sits in the heart of Broward County. Residents live within a 20-minute drive to most neighborhoods in the county. The area is known for the Woodmont Country Club, packed with tennis courts, gym and swimming pool. There are several parks, including the familyfriendly Waters Edge Park and the dog park Gary B. Jones Park for People and Pups.
3. Sunrise
Median sales price for condos: $141,000 (ZIP code 33322)
Median sales prices for houses: $480,000 (ZIP code 33322)
Sunrise spans the edge of the Everglades, Tamarac, Lauderdale Lakes, Lauderhill, Plantation and Weston. Shopaholics have easy access to one of the region’s largest shopping centers, Sawgrass Mills Mall.
Residents also are close to the Dauer Museum of Classic Cars, the FLA Live Arena and a 65-member orchestra, Sunrise Pops.
4. Deerfield Beach
Median sales price for condos: $153,000 (ZIP code 33442)
Median sales prices for houses: $515,000 (ZIP code 33442)
Margaret 33063$435,000
Bordering Boca Raton in south Palm Beach County, Deerfield Beach gives its residents a short commute to its oceanfront. Residents also have access to the Deerfield Island Park via the city’s boat shuttle.
5. Margate
Median sales price for condos: $170,000 (ZIP code 33063)
Median sales prices for houses: $435,000 (ZIP code 33063)
Landlocked, Margate rests between Hillsboro Pines, Coral Springs, Coconut Creek and North Lauderdale. It is a 30-minute drive to the Pompano
Beach Fisher Family Pier. Residents can splash around on the hottest days in their own backyard at the Calypso Cove Aquatic Facility or cool off with a bike ride through the Cypress Creek Greenway Bicycle Path.