Why Homeownership Matters

Homeownership is one of the most powerful forces to improve health, education, and wealth for generations. Nowhere is this more necessary than Broward — one of the most cost-burdened housing markets in the country.

Homeownership is out of reach for 94% of Broward families.

The Facts

Homeownership is vital to our socio-economic well-being because . . .

  • The median price of a single-family home in Broward is up 20% in the last two years (2022-2023) to more than $565,000.
  • Every $5MM invested in affordable Broward housing creates a seven-to-one return on investment.
  • Broward rents jumped 49% since 2019.
  • With 53.9% cost-burdened household, Broward is one of the most unaffordable places to live in the United States.
  • Average monthly rent for 2-bedroom apartment, at $1,902, is 55.9% of the median household income for renters.
  • Average monthly rent for a 950 sq/ft apartment in Greater Fort Lauderdale is $2,168, almost $1,000 more than the monthly payment for a 1300 sq/ft Habitat for Humanity of Broward home.

Additional Resources

Broward County Housing Council – Dashboard

Florida Housing Coalition – Affordable Housing Guidebook

Florida Housing Coalition – Home Matters Report

The Washington Post – Affordable Housing Home Prices Study

Florida International University – Broward County Affordable Housing Needs Assessment

Harvard University, Joint Center for Housing Studies – State of the Nation’s Housing

University of Florida, Shimberg Center – Florida’s Affordable Housing Needs