10 Most Affordable Places to Live in South Florida in 2024

Key Takeaways:

– South Florida offers a unique living experience with tropical landscapes and miles of pristine beaches.
– The region includes Miami-Dade County, Broward County, and Palm Beach County.
– Median home sale prices in South Florida are $510,000 in Miami-Dade County, $425,000 in Broward County, and $467,000 in Palm Beach County.
– Redfin has identified the 10 most affordable places to live in South Florida, with median home sale prices under $425,000.
– Lauderhill is the most affordable place, with a median home sale price of $210,000.
– Other affordable places include Margate, Tamarac, Deerfield Beach, Coconut Creek, Pompano Beach, Boynton Beach, Sunrise, Tamiami, and North Miami.
– These cities offer a range of amenities, such as parks, beaches, entertainment options, and proximity to the Everglades.
– The methodology for selecting these cities includes population criteria and median home sale prices under the county averages.

REDFIN:

With its tropical landscapes featuring miles of pristine beaches along the Atlantic Ocean, living in South Florida is a one-of-a-kind experience. There are plenty of opportunities for swimming, sunbathing, and water sports like snorkeling and diving in the vibrant coral reefs, giving you a glimpse into life as a Florida resident.

South Florida is generally includes the towns and cities in Miami-Dade County, Broward County, and Palm Beach County. So, if you’re looking to buy a home in one of these areas, keep in mind the median sale price is $510,000 in Miami-Dade County, $425,000 in Broward County, and $467,000 in Palm Beach County. If those prices are out of your budget, don’t worry.

At Redfin, we’ve collected the 10 most affordable places to live in South Florida – and they all have a median home sale price under $425,000. Let’s dive in and see what cities made the list.

1. Lauderhill

Median home price: $210,000
Average sale price per square foot: $178
Average rent for a 1-bedroom apartment: $2,125
Median household income: $48,523
Lauderhill, FL homes for sale
Lauderhill, FL apartments for rent

The first on our list of most affordable places to live in South Florida is Lauderhill, with a median home sale price of $210,000. Lauderhill is a vibrant city located just outside of Fort Lauderdale. The city has a population of 74,500, so it’s a smaller alternative to the bigger cities nearby. Popular attractions in Lauderhill include visiting Central Broward Regional Park, enjoying the outdoors at Veterans Park, and seeing a show at the Lauderhill Performing Arts Center.

2. Margate

Median home price: $297,500
Average sale price per square foot: $225
Average rent for a 1-bedroom apartment: $1,700
Median household income: $56,324
Margate, FL homes for sale
Margate, FL apartments for rent

Second on our list is Margate, with a median home sale price of $297,500. Located in Broward County, Margate is home to about 58,700. The city has numerous parks, including the Margate Sports Complex and the Calypso Cove Water Park. 

3. Tamarac

Median home price: $310,000
Average sale price per square foot: $237
Average rent for a 1-bedroom apartment: $1,500
Median household income: $59,140
Tamarac, FL homes for sale
Tamarac, FL apartments for rent

The city of Tamarac is located near the famous Florida Everglades. You’ll find the median home sale prices are about $310,000, so it’s a lot less expensive than Broward County’s average prices. Tamarac has a variety of parks, including the Tamarac Sports Complex and Waters Edge Park. Home to about 71,900 residents, you can also experience vibrant community events and festivals throughout the year.

4. Deerfield Beach

Median home price: $317,950
Average sale price per square foot: $262
Average rent for a 1-bedroom apartment: $1,400
Median household income: $53,741
Deerfield Beach, FL homes for sale
Deerfield Beach, FL apartments for rent

Taking the fourth spot is Deerfield Beach, with a median home sale price of $317,950. This city has a population of roughly 86,900 and is known for its beautiful beaches, including Deerfield Beach and Quiet Waters Park. Deerfield Beach also offers a variety of dining and entertainment options and is close to cities like Pompano Beach and Boca Raton if you’re looking to get out and explore.

Hillsboro Inlet Lighthouse in Pompano Beach, Florida - Getty

5. Coconut Creek

Median home price: $320,000
Average sale price per square foot: $244
Average rent for a 1-bedroom apartment: $1,895
Median household income: $72,740
Coconut Creek, FL homes for sale
Coconut Creek, FL apartments for rent

Another one of the affordable places to live in South Florida is Coconut Creek, located near Margate. With a median home sale price of $320,000 and a population of about 57,800, there are plenty of reasons to consider living in Margate. The city is home to Tradewinds Park & Stables and Butterfly World, the largest butterfly aviary in the world. Coconut Creek also offers a variety of outdoor recreational activities like golfing and nature trails.

6. Pompano Beach

Median home price: $350,000
Average sale price per square foot: $290
Average rent for a 1-bedroom apartment: $1,831
Median household income: $61,155
Pompano Beach, FL homes for sale
Pompano Beach, FL apartments for rent

The city of Pompano Beach is known for its beautiful beaches, including Pompano Beach and Hillsboro Inlet Lighthouse. The median home sale price is $350,000, and it has a population of about 112,000, making it a great option for those looking to live in a beachfront city.

Aerial Footage of Teal-Colored Waves Sweeping Across the Boynton Beach, Florida Seashore on a Weekday in February 2021.

7. Boynton Beach

Median home price: $352,500
Average sale price per square foot: $246
Average rent for a 1-bedroom apartment: $2,123
Median household income: $68,875
Boynton Beach, FL homes for sale
Boynton Beach, FL apartments for rent

In Palm Beach County, you’ll find Boynton Beach, with a median home sale price of $352,500. This city has a population of roughly 80,400 and is only about a 25-minute drive into West Palm Beach. Boynton Beach is home to beautiful beaches, including Oceanfront Park Beach and Gulfstream Park. You can also find a variety of shopping and waterfront dining options.

8. Sunrise

Median home price: $354,500
Average sale price per square foot: $266
Average rent for a 1-bedroom apartment: $1,967
Median household income: $66,001
Sunrise, FL homes for sale
Sunrise, FL apartments for rent

Eighth on our list is Sunrise, where the median home sale price is about $354,500. Sunrise has about 97,300 residents and is close to the Everglades. The city is home to the Amerant Bank Arena, a sports and entertainment arena, and the Sawgrass Mills Mall, an outlet mall.

9. Tamiami

Median home price: $382,000
Average sale price per square foot: $319
Median household income: $72,645
Tamiami, FL homes for sale
Tamiami, FL apartments for rent

In Miami-Dade County, you can find the next place, Tamiami. Located west of Miami, Tamiami has about 54,200 residents. The city is known for its proximity to the Everglades National Park, meaning there are plenty of outdoor recreational activities to explore.

10. North Miami

Median home price: $385,000
Average sale price per square foot: $302
Average rent for a 1-bedroom apartment: $1,700
Median household income: $49,069
North Miami, FL homes for sale
North Miami, FL apartments for rent

The last spot on our list of most affordable places to live in South Florida is North Miami, with a median home sale price of $385,000. This city, located along Biscayne Bay, has about 60,200 residents. You can find iconic spots like the Museum of Contemporary Art and the Oleta River State Park, which offers a variety of outdoor recreational activities like kayaking. North Miami has plenty of things to explore, making it a great area to call home.

Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median list price in Miami-Dade County, Broward County, and Palm Beach County. Median home sale price and median sale price per square foot from the Redfin Data Center during February 2024. Average rental data from Rent.com February 2024. Population and median household income data sourced from the United States Census Bureau.

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Property Chomp’s Take:

Living in South Florida offers a unique and unparalleled experience with its tropical landscapes and miles of pristine beaches along the Atlantic Ocean. The region is famous for its vibrant coral reefs, offering opportunities for swimming, sunbathing, and water sports like snorkeling and diving. South Florida encompasses Miami-Dade County, Broward County, and Palm Beach County, and buying a home in these areas can come with a hefty price tag. However, there are still affordable options available. Here are the ten most affordable places to live in South Florida, with median home sale prices under $425,000.

1. Lauderhill: With a median home sale price of $210,000, Lauderhill is a vibrant city located just outside of Fort Lauderdale. It offers a smaller alternative to the bigger cities nearby and features attractions like Central Broward Regional Park and the Lauderhill Performing Arts Center.

2. Margate: Located in Broward County, Margate has a median home sale price of $297,500. The city is home to about 58,700 residents and offers numerous parks, including the Margate Sports Complex and the Calypso Cove Water Park.

3. Tamarac: Situated near the famous Florida Everglades, Tamarac has a median home sale price of $310,000. It provides a less expensive option compared to Broward County’s average prices and offers various parks, including the Tamarac Sports Complex and Waters Edge Park.

4. Deerfield Beach: With a median home sale price of $317,950, Deerfield Beach is known for its beautiful beaches like Deerfield Beach and Quiet Waters Park. The city also offers a range of dining and entertainment options and is close to Pompano Beach and Boca Raton.

5. Coconut Creek: Located near Margate, Coconut Creek has a median home sale price of $320,000. With a population of about 57,800, the city is home to attractions such as Tradewinds Park & Stables and Butterfly World, the largest butterfly aviary in the world.

6. Pompano Beach: Known for its stunning beaches, Pompano Beach offers a median home sale price of $350,000. The city has a population of about 112,000 and provides a great option for those looking to live in a beachfront location.

7. Boynton Beach: In Palm Beach County, Boynton Beach has a median home sale price of $352,500. It is a short drive from West Palm Beach and features beautiful beaches like Oceanfront Park Beach and Gulfstream Park. The city also offers shopping and waterfront dining options.

8. Sunrise: With a median home sale price of approximately $354,500, Sunrise is home to around 97,300 residents. The city is close to the Everglades and features attractions like the Amerant Bank Arena and the Sawgrass Mills Mall.

9. Tamiami: Located west of Miami in Miami-Dade County, Tamiami has a median home sale price of $382,000. With a population of about 54,200, it is known for its proximity to the Everglades National Park, offering plenty of outdoor recreational activities.

10. North Miami: Situated along Biscayne Bay, North Miami has a median home sale price of $385,000. The city has approximately 60,200 residents and offers attractions like the Museum of Contemporary Art and the Oleta River State Park, providing various outdoor recreational activities.

These ten cities provide more affordable options for those looking to live in South Florida. While the median home sale prices in Miami-Dade County, Broward County, and Palm Beach County may be high, these cities offer a chance to experience the beauty and lifestyle of South Florida without breaking the bank. Whether you’re looking for stunning beaches, outdoor activities, or cultural attractions, these affordable places have something for everyone.

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