Why Homeownership Matters

Homeownership is one of the most powerful forces to improve health, education, and wealth for generations. Nowhere is this more important than Broward, one of the most housing-cost burdened areas in the country, with homeownership out of reach for 87% of Broward families.

The following are a few reasons why homeownership is vital to our Broward’s socio-economic well-being:

  • The median price of a single-family home in Broward is up 20% in the last two year (2020-2022) to more than $500,000.
  • Every $5MM invested in affordable Broward housing creates a seven-to-one return on investment.
  • Broward rents jumped 25% in 2021.
  • 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.
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