Are you looking for a new home? This article is here to help you find the best places to live in South Florida. Whether it’s your first time moving or your fifth, everyone knows how stressful it can be.
That’s why this guide will make this process as easy and stress-free as possible for you. A great team of real estate experts at iBuyer knows all about buying and selling homes in South Florida, so they can provide expert advice on finding the right property for you.
Facts about South Florida
Did you know about 2 million people live in South Florida? The best cities in South Florida are Hollywood, Pompano Beach, Miami, and Boca Raton. Even though so many people live in South Florida, it still has a small-town vibe.
The cost of living is pretty high, but the median income per year is $63,062. The average home price is around $397,137, and rent indexes average at $1,218 per month. With all these numbers, you can see how South Florida may not be for everyone.
Do you want to know your home’s value in today’s market? Get a free online value estimate!
1. Hollywood
Many people love living in Hollywood because of the beautiful homes and great schools. Plus, it’s so close to Miami, so there are plenty of opportunities to have fun when you want a break from your everyday life.
Size and Population
Hollywood is a small city with a population of only 152,508 people. This number may be small, but it’s not quiet. Hollywood has a lot going on, from festivals to nightlife. Plus, there are lots of great restaurants and shops around.
Hollywood is incredibly walkable, so you can explore the city on foot if you want to. When it comes to infrastructure, Hollywood doesn’t have much to worry about. All their roads are in good condition thanks to all the tax dollars they raise.
Median Household Income
The median household income in Hollywood is $90,538 per year. That’s pretty average for South Florida, but it’ll go a long way since groceries are just slightly more expensive than the national average.
Hollywood Housing Market
Homes in Hollywood are around $1,012,787 on average. That’s significantly higher than the national housing price- so if you’re moving from another city, keep that in mind. The good news is there are plenty of lovely homes to choose from so you can find something perfect for your family or yourself.
Median Sale Price
Hollywood has seen a -2.9% decrease in their median sale price since last year, which is good news if you want to sell your home in Hollywood. If you’re thinking of buying, though, you’ll be glad to hear the value of homes is steadily increasing each year––so it’s a great time to buy.
Cost of Living
The cost of living in Hollywood is around 30% higher than the national average. That means when you add up all your bills, groceries, and so on, you’ll need a bit more money to get by each month.
Median 2-bedroom Apt Rent Index
Hollywood is a great place to live if you have kids. Why? It’s because the average 2-bedroom apartment rental index is $2,029 per month. That’s pricey but keep in mind the median household income is also higher than most cities.
What’s Great About Living in Hollywood?
For starters, Hollywood has a fantastic bar scene with tons of live music options nearby. You can never go wrong with that kind of entertainment. If you’re not into bars, then no problem because there are plenty of great coffee shops nearby too. Whatever you’re interested in doing, there’s something for everyone here in Hollywood.
2. Miami
Miami is known for being vibrant and full of life–and with good reason. There are so many things to do here that it’ll be hard not to find something you love about living here. But, of course, you can always take a day trip to Miami Beach if you want a break from your everyday life.
Size and Population
With around 456,229 people, Miami is one of the most populous places in South Florida, but it doesn’t feel overcrowded. There are so many things to do here that you’ll never get bored of exploring.
Median Household Income
At $90,171 per year, the median household income in Miami is lower than most places in South Florida. But, of course, this may be because of all the tourists who spend time in Miami. If you’re not a tourist, though, then this shouldn’t matter too much to you. Plus, there are so many ways to save money while living in Miami–you have to look for them.
Housing Market
The housing market is on the pricey side at an average house cost of around $571,215. Of course, that’s expensive, but it’s worth it with how beautiful everything looks in Miami. Plus, almost everything is comfortable and luxurious––you may even feel like a celebrity if you live in Miami.
Median Sale Price
The median sale price in Miami has been rising with a 8.7% increase since last year. This figure means homes are selling for more and more each month––so if you’re in the market to buy, keep this in mind.
Cost of Living
Miami’s cost of living is 18.9% higher than the national average, which is no surprise when there are so many fun things to do here all year round. If you want to live in South Florida but can’t afford it, don’t worry because there are plenty of affordable options such as Homestead, where you can still have a blast.
Median 2-bedroom Apt Rent Index
Like Hollywood, Miami is great for raising a family because the median 2-bedroom apartment rental index is $2,538 per month. That’s affordable compared to most places in South Florida––so keep this in mind if you’re moving here with children.
What’s Great About Living in Miami?
The amount of restaurants and bars is incredible. Unfortunately, you’ll never be able to visit all the places available, but it’s worth trying as many as possible while you’re here. If you love Mexican food, this place will soon become your new favorite spot on earth because there are some great options nearby.
3. Palm Beach
If you need to escape the hustle and bustle of South Florida but still want to be close by, then Palm Beach is the place for you. This city is great because it’s quiet most of the time––but when things are happening, you’ll never know what’s going on until you check with locals.
Size and Population
With around 9,225 people living here, Palm Beach is one of the smallest suburbs in South Florida. Some call it “the rich New Yorker” or “a hidden gem” because most people don’t even think about checking this place out– most people probably didn’t even know it existed. But if you live here, then no worries––you won’t have to worry about strangers walking through your neighborhood or anything like that.
Median Household Income
The median household income in Palm Beach is on the high side, around $365,991, which is thanks to all the people who vacation here from Florida and New York City. If you live here, you’ll have plenty of cash left over after paying your bills due to how low the prices of most things are.
Housing Market
Palm Beach has a lot of expensive living options because it’s a trendy place for retirees. However, the average house cost is around $2,175,876 with an average rental price of just over ten grand per month––so if you’re not earning as much as those people, then this may not be the right place for you. You can still find affordable homes, but you need to remember that most places here will be more expensive than other parts of South Florida.
Cost of Living
Palm Beach is the best place for retirement because the cost of living here is lower than anywhere else in South Florida. So if you’re on a fixed income, then it’ll be easy for you to get by because there’s nowhere cheaper. Plus, the weather is beautiful and sunny almost all year round––so if you like warm days, palm trees, and golfing, then this will become one of your favorite places too.
Median Sale Price
You can’t go wrong with Palm Beach if you’re looking for an incredible place to live where you’ll always be happy. The median sale price is $2,175,876 which means homes here are selling for .03% more than they did last year. Median 2-bedroom Apt Rent Index
The median 2-bedroom apartment rent is $10,483 per month. Keep in mind that you can find affordable places with lower prices, but if you’re looking for luxury, then this is the place to be.
What’s Great About Living in Palm Beach?
If you love golfing, this place will become your ideal spot because there are so many courses available––plus other sports like tennis courts and even polo clubs. Plus, who doesn’t love all the celebrities that show up every year just to vacation here? But, if you’re not into those people, then don’t worry––there’s still plenty to keep you entertained here.
4. Delray Beach
If you want to live in South Florida but don’t feel like paying as much as everyone else, then Delray Beach is the place for you because most things here are affordable, and that’ll save you some money.
Size and Population
This city is home to around 67,251 people, so it’s bigger than Palm Beach––but not as significant as other cities in South Florida. So if you’re looking for a small-town environment where you can walk down the street without worrying about cars, then this is your best bet.
Median Household Income
Delray Beach has one of the lowest median household incomes in South Florida, around $118,064, which is why it’s an excellent place for retirees and young people who don’t want to pay as much. So if you’re not earning much, this will be the cheapest place to pack your bags and never look back.
Housing Market
The housing market here is perfect, but it’s probably not the best if you’re looking for highly-priced living options. The average house cost is around $360,977, and the rent averages out to about two grand per month, so this might be a little too expensive for most people. However, you can find affordable places if you know where to look––but keep in mind that this city isn’t luxury living.
Cost of Living
Delray Beach is one of the most affordable places in South Florida, and that includes different types of living options, restaurants, and activities too. So if you want an incredible place to live while still saving money, this has all the perks without any sacrifices.
Median Sale Price
Delray’s median sale price for real estate transactions is $360,977 which means the housing market is growing but not by much. Still, it’s better than other cities with comparable prices because there isn’t another city in South Florida with lower prices.
The best part about buying property here is that you will protect your investment––so that means if home values go up, then you’ll be making money.
Median 2-bedroom Apt Rent Index
The median 2-bedroom apartment rent is $2,858 per month, which is lower than the average for South Florida––and way cheaper than living in other cities. Who said saving money was ever this easy?
You can live here without spending too much cash––so it’s ideal for young people who are just starting or retirees who don’t want to spend as much.
What’s Great About Living in Delray Beach?
Delray is a great city with plenty of things to do, events, and people that will always make you happy no matter what. Plus, if you like meandering through small towns, then you’ll have a good time here.
What do you like most about South Florida, in general?
South Florida is one of the most diverse places to live not only in the U.S. but also throughout the world. From Hollywood to Miami, there’s no end to this state’s natural beauty and charm, making it even more desirable than other cities around America.
Not only does every city offer something different regarding schools, food, events, entertainment, shops and stores, demographics, nightlife, and population density, but it’s also home to the best public beaches in the country.
If you’re thinking about living here, make travel arrangements and don’t let factors like high rent prices, healthcare costs, or pollution scare you away. As long as you have a well-paying job and are willing to look at places outside of Miami and Fort Lauderdale for housing, South Florida has plenty to offer new residents who want to experience something different from what they’ve always known.
Getting to live in South Florida
It is not only fantastic for your bank account but also your health and well-being. So if you want to move there, submit your address and get a no-obligation cash offer. We will help you sell your house.
