Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Hallandale Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $271,840 | $293,727 | $242,182 |
| Price Trend (Annual %) | 9.1% | 12.0% | 8.2% |
| Median Gross Rent | $1,584 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hallandale Beach is about 7% lower than in Florida. Rent is about 1% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Hallandale Beach, up about 9.1% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Hallandale Beach rose about 47.3% between 2015 and 2023, from $1,076 to $1,584. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 5.5 yearly household incomes in Hallandale Beach.
Buying the median-priced home in Hallandale Beach costs roughly 14.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hallandale Beach. The price-to-rent ratio in Florida is about 15.7.
| Metric | Hallandale Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $271,840 | $293,727 | $242,182 |
| Median Household Income | $49,088 | $71,865 | $78,145 |
| Price-to-Income Ratio | 5.5 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hallandale Beach rose about 88.0%, while median household income rose about 37.5% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hallandale Beach | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.1% | 57.1% | 58.2% |
| Rental Rate | 30.9% | 27.7% | 31.3% |
| Vacancy Rate | 33.0% | 15.2% | 10.6% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Hallandale Beach has a homeownership rate of 36.1%, lower than the Florida average of 57.1%. Its housing vacancy rate is 33.0%, compared with 15.2% in Florida.
Housing Stock
| Metric | Hallandale Beach | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.08 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1976 | 1987 | 1978 |
| Median Number of Rooms | 3.6 | 5.2 | 5.5 |
The typical housing unit in Hallandale Beach was built around 1976. On average, 2.1 people live in a home with about 3.6 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hallandale Beach, Florida.
What is the median home price in Hallandale Beach, Florida?
The median home price in Hallandale Beach, Florida is $271,840, lower than the Florida average of $293,727.
What is the average home price in Hallandale Beach, Florida?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Hallandale Beach, Florida?
The median gross rent in Hallandale Beach, Florida is $1,584 per month, higher than the Florida average of $1,564.
What was the median gross rent in Hallandale Beach in 2020?
In 2020, the median gross rent in Hallandale Beach, Florida was $1,296 per month.
What is the price-to-rent ratio in Hallandale Beach, Florida?
The price-to-rent ratio in Hallandale Beach, Florida is about 14.3, meaning it would take roughly 14.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hallandale Beach.
Are home prices or rent rising faster in Hallandale Beach, Florida?
Both home prices and rent are rising in Hallandale Beach, up about 9.1% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hallandale Beach, Florida?
36.1% of households in Hallandale Beach, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Hallandale Beach, Florida?
The housing vacancy rate in Hallandale Beach, Florida is 33.0%, higher than the Florida average of 15.2%.