Are you looking at Southeast Florida for your first home purchase? Hollywood has probably caught your attention. It sits between Miami and Fort Lauderdale, offers a beach lifestyle, and is seeing a surge in development. But before you jump in, you need to know what you’re walking into. Prices are climbing. Commutes are tough. And safety and school quality vary by neighborhood.
This post breaks down the real numbers and trade-offs so you can plan your purchase with confidence.
The Market Outlook: What You’re Up Against
Mortgage rates, home prices, and income requirements shape your buying power. Hollywood’s market reflects a larger Southeast Florida trend.
Mortgage Rates Moving Down
The Miami Association of REALTORS projects 30-year fixed rates at 6.6% by the end of 2024 and 5.7% by the end of 2025. This should give buyers a little more breathing room compared to today’s rates.
Home Prices Rising
Don’t expect bargains. Median sales prices are projected to increase 6.9% in 2024 and 6.5% in 2025.
• Single-family homes: 8.5% increase in 2024, 9.7% in 2025
• Condos/townhomes: 5.0% increase in 2024, 2.5% in 2025
Supply is tight for single-family homes (about 4 months) and more balanced for condos (6 months+). That keeps competition high for houses and moderates it for condos.
Sales Activity Rebounding
Existing home sales will drop 5.5% in 2024 but are expected to grow 4.2% in 2025. Single-family home sales will drive that recovery with a 7.8% increase. Condo sales stay flat.
Affordability Remains a Challenge
In 2024, you’ll need about $173,800 in annual income to afford a single-family home and $95,600 for a condo. By 2025, those numbers shift to $177,600 for a house and $91,200 for a condo. These figures include mortgage, taxes, and insurance.
Takeaway: If you’re a first-time buyer, consider a condo to get in the door. The income threshold is far lower, and the market is less competitive.
Hollywood Snapshot: Costs, Safety, and Growth
Hollywood offers a mix of beaches, suburban neighborhoods, and urban redevelopment. But it’s pricier and more complex than it looks.
- Living Costs: Hollywood is 10.5% more expensive than the U.S. average. Typical home price: $399,000 (18% above national average). Average rent for a two-bedroom unit: $1,820 per month. To live comfortably, aim for about $76,320 a year for a family or $58,000 for a single person.
- Development Boom: $1.5 billion in real estate projects are underway or planned, especially in Downtown and Young Circle. The city is also putting $500 million into capital improvements, including a new police HQ. This level of investment often supports long-term property value growth.
- Crime and Safety: Hollywood’s crime rate is higher than the national average. Your chance of being a crime victim is 1 in 48.
• Violent crime risk: 1 in 381
• Property crime risk: 1 in 54
Compared to cities of similar size, Hollywood is safer than most, but risk varies sharply by neighborhood.
Safest areas include Hollywood Lakes South, North Beach, South Central Beach, Hollywood Lakes, and Emerald Hills.
Takeaway: Look at neighborhood-level crime data before you buy. Safety varies street by street.
Neighborhood Vibes: Where You Might Fit
Hollywood has a range of communities for different budgets and lifestyles.
|
Lifestyle |
Neighborhoods |
Average Home Price |
|
Family-friendly |
Emerald Hills (parks, good schools), Hollywood Lakes (near beach), Cooper City & Davie (strong schools nearby) |
$420,400+ |
|
Luxury |
Hollywood Hills |
$2 million+ |
|
Affordable |
Sunset (Fort Lauderdale), Washington Park |
Around $460,000 |
|
Quiet |
Alandco, Beverly Heights |
Varies |
Takeaway: Match your lifestyle and budget to the right neighborhood. Spend time visiting each area to understand its feel, safety, and commute.
Daily Life Factors: Schools and Commuting
Price isn’t everything. Daily life factors can make or break your experience in Hollywood.
- Schools
Hollywood has 88 public schools. Average ranking: 7/10, placing them in Florida’s top 50%. Math and reading proficiency scores are slightly above state averages. Top-ranked schools are mostly charter schools. Some locals suggest Broward County schools lag behind nearby areas like Boca Raton. - Commuting
If you work in Miami or Fort Lauderdale, prepare for a rough commute.
• Driving: Long, congested, expensive express lanes. Many describe it as exhausting.
• Public transport: Tri-Rail is cheaper but has delays. Fort Lauderdale station isn’t central. Brightline is faster but much more expensive.
Many residents recommend living closer to your job to avoid the commute entirely.
Takeaway: Factor in your daily travel before you buy. A cheaper home far from work might cost you more in time and stress.
Economic Strength and Migration
Southeast Florida’s economy is projected to grow 2.4% in 2025. People from high-tax states like New York and California continue moving to Florida because of no state income tax and lower rental costs compared to big metro areas. This steady inflow supports housing demand and price growth.
Takeaway: Don’t bank on prices falling. Demand drivers like job growth and migration are pushing the market forward.
Putting It All Together
Buying in Hollywood, Florida, gives you access to beaches, diverse neighborhoods, and long-term growth potential. But it also comes with higher prices, safety differences, and serious commute challenges.
If you’re a first-time buyer:
- Compare single-family homes and condos based on income requirements.
- Research neighborhoods down to the street level.
- Think about your daily commute before making an offer.
- Watch mortgage rates. Lower rates by 2025 could improve your affordability.
Hollywood’s housing market is growing and changing. The right purchase depends on matching your budget, lifestyle, and long-term plans. Where do you see yourself fitting into this picture?