Pembroke Pines, Florida Real Estate & Housing Market

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Pembroke Pines Housing Information

Index	Pembroke Pines	Florida	National
Median home price	$225,400	$166,800	$184,700
Median rent asked	$1,459	$1,032	$949
Avg. people per household	2.9	2.6	2.6
Owner occupied households	72.2%	64.8%	63.6%
Renter occupied households	27.8%	35.2%	36.4%

A general summary of the real estate market in Pembroke Pines, FL is listed above. Properties in Pembroke Pines, FL average a cost of $225,400, which is 35% higher than the median home price for real estate located in Florida. This means that the region of Pembroke Pines, FL is, on average, less affordable when compared to the remainder of Florida. Since tenants living in Pembroke Pines, FL will pay an average of $1,459, the median rental cost is 41% higher than in Florida. 72.2% of people in Pembroke Pines, FL own their own homes, and an average of 2.9 people inhabit each property. Pembroke Pines, FL has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

Pembroke Pines Home Affordability

When starting your search for real estate in Pembroke Pines, FL, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in Pembroke Pines, FL costs $225,400 while each household has an average income of $62,702. Consequently, the ratio of home price to household income is 3.6x; this ratio is 5% higher than the average in Florida. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in Pembroke Pines, FL. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in Pembroke Pines, FL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Medley, FL	898	$33,100	82%
Pembroke Park, FL	6,259	$68,600	63%
Franklin Park, FL	1,039	$86,300	53%
Gladeview, FL	12,899	$89,800	51%
Lauderdale Lakes, FL	34,321	$93,400	49%
Pembroke Pines, FL	164,753	$225,400	22%

Cities with similar population

City, State	Population	Home Price	National Avg.
Springfield, MO	165,138	$109,500	41%
Elk Grove, CA	163,634	$317,500	72%
Salem, OR	161,975	$188,900	2%
Eugene, OR	161,649	$246,400	33%
Sioux Falls, SD	167,884	$161,500	13%
Pembroke Pines, FL	164,753	$225,400	22%

Source: The Pembroke Pines, FL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).