Buying vs. renting in Broward County: what it really costs in 2026
October 28, 2026 · Zach Curtis, REALTOR®, Realty Hub
"Should I keep renting or buy?" depends on three things: what the same kind of home costs each way, how much cash you have, and how long you'll stay. Here's the comparison with live South Florida numbers, a worked example, and the costs people forget on both sides.
Rent vs. price, live
Live right now, 2-bedroom condos only (so the rent and the price describe the same kind of home):
| City | Median 2-bed rent | Median 2-bed condo price | Median HOA | Rentals / for sale |
|---|---|---|---|---|
| Hallandale Beach | $2,500/mo | $350,000 | $1,070/mo | 273 / 499 |
| Hollywood | $2,450/mo | $395,000 | $1,065/mo | 293 / 441 |
| Pembroke Pines | $2,200/mo | $205,000 | $693/mo | 167 / 333 |
| Miramar | $2,295/mo | $272,500 | $503/mo | 82 / 66 |
Live from active BeachesMLS listings on zach.homes, as of October 30, 2026. Medians, not averages. HOA medians use only listings that state an HOA amount. Asking prices and asking rents, not closed sales.
For context across all sizes on October 28, 2026: Hallandale Beach's median asking rent was $2,399 and its median condo asking price $299,000; Pembroke Pines, $2,200 rent and a $234,889 median for homes for sale; Miramar, $2,400 rent and a $460,000 median; Hollywood, $2,400 rent and a $495,000 median. Browse Hallandale Beach rentals, condos for sale, Hollywood rentals, Hollywood homes, Pembroke Pines rentals, Pembroke Pines homes.
A worked example: a $299,000 condo vs. $2,399 rent
Using Hallandale Beach's medians from October 28, 2026. Illustrative, not a loan offer. Freddie Mac's weekly average 30-year fixed rate was 7.24% for the week of October 29, 2026 (Freddie Mac PMMS, week of October 29, 2026); your rate depends on your credit, down payment and loan type.
| Monthly | Buy: $299,000, 10% down, 7.24%, 30 years | Rent |
|---|---|---|
| Loan payment (principal + interest) | about $1,834 | |
| Property tax (est. 1.9% of price) | about $473 | |
| Unit insurance (HO-6) | about $151 (Broward average, Florida OIR, March 2026) | Renters insurance, usually much less |
| HOA dues | The building's dues (see the live medians above) | Usually included in rent |
| Repairs inside the unit | Yours; budget something every month | Usually the landlord's |
| Total | about $2,458 + HOA + repairs | $2,399 (rent goes up at renewal) |
Part of the owner's payment isn't a cost: in the first year about $2,600 goes to principal, which is savings you get back when you sell (if the price holds). Most of the rest (about $19,400 of interest in year one) is a cost, like rent.
Cash up front
- Buying that $299,000 condo with 10% down: $29,900 plus closing costs (roughly 2% to 4% of the price as a rough estimate), so roughly $36,000 to $42,000. With FHA at 3.5% down in an approved building, much less. See the line-by-line cash-to-close example.
- Renting at $2,399: often about $7,000 or more up front for first month, last month and a deposit, plus application and association fees. See move-in costs explained.
The costs people forget
When buying
- Special assessments. Florida's milestone inspection and SIRS rules have led many buildings to raise dues or assess owners. Read the documents first: condo rules and SIRS.
- Insurance changes at renewal, and flood insurance in high-risk zones: flood zones explained.
- Selling costs later: agent compensation, the seller's deed doc stamps ($0.70 per $100 in Broward), title and other closing costs. These are why buying for a short stay rarely pays off.
- Taxes reset to your purchase price; the seller's bill isn't a guide. Homestead helps once you file.
When renting
- Renewal increases, and moving costs if you have to move.
- Association rules still apply in condo rentals (approval, pets, parking).
- No equity and no homestead tax cap, but also no assessments, no repair bills and no selling costs.
How the interest rate changes the answer
On the same $269,100 loan (the $299,000 condo with 10% down), the principal and interest payment moves like this:
| Rate (30-year fixed) | Monthly principal + interest | Change vs. 7.24% |
|---|---|---|
| 6.50% | about $1,701 | about $133 less |
| 7.24% (Freddie Mac, week of October 29, 2026) | about $1,834 | |
| 8.00% | about $1,975 | about $141 more |
Your rate depends on your credit, down payment, loan type and the day you lock. Compare Loan Estimates from at least two lenders. If rates fall later, refinancing is possible but has its own closing costs, so don't count on it when deciding whether you can afford a home today.
Condo vs. house
The comparison changes a lot by property type. Condos usually have lower purchase prices and lower unit insurance, but monthly dues and the risk of assessments. Houses have no condo association in many neighborhoods (some have an HOA), but higher insurance: the Florida Office of Insurance Regulation's March 2026 data put the Broward average near $6,136 a year for a house, versus about $1,816 for a condo unit policy, and you pay for the roof, the AC and the yard yourself. If you're comparing a house rental with buying a house, use the house numbers, not the condo ones.
When buying tends to make sense
- You plan to stay about 5 years or more, long enough for principal paid and any price growth to outrun buying and selling costs.
- You have the down payment and closing costs and an emergency fund left over.
- The all-in monthly cost is close to your rent, and the building's finances check out.
- You want control: renovations, pets within the building rules, no renewal surprises.
When renting tends to make sense
- You may move within a few years, or your job or income is changing.
- You'd have to use all your savings to close.
- You want to try a neighborhood or building first.
- The buildings you like have big assessments coming.
Run your own numbers
The rent vs. buy calculator lets you change the price, rate, HOA and how long you'll stay; the affordability calculator shows what you can borrow. Every listing on zach.homes shows the full monthly cost with sources. First-time buyer? Start with the first-time buyer guide. Want to keep renting for now? Search rentals.
Questions? Ask Zach
I'm Zach Curtis, a REALTOR® with Realty Hub in Hallandale Beach. I help renters and buyers in Hallandale Beach, Hollywood, Aventura and nearby. Zach replies personally within 15 minutes, 8 AM to 9 PM ET, 7 days. Outside those hours, by 9 AM.
Questions
Is it cheaper to rent or buy in Broward County?
It depends on the home and the building. On October 28, 2026, a median-priced Hallandale Beach condo with 10% down cost about $2,281 a month before HOA dues and repairs, versus a $2,399 median rent. Add the building's dues and your own repair budget to compare fairly.
How long should I stay to make buying worth it?
A common rule of thumb is about 5 years or more, so that principal paid and any price growth can outweigh buying and selling costs. It's an estimate, not a guarantee.
How much cash do I need to buy versus rent?
Buying a $299,000 condo with 10% down takes roughly $36,000 to $42,000 including closing costs. Renting at $2,399 often takes about $7,000 or more up front.
What costs do buyers forget in South Florida?
Special assessments, insurance increases, flood insurance, repairs, the property tax reset to your purchase price, and selling costs later.
Sources
Published October 28, 2026 by Zach Curtis, REALTOR®, Realty Hub, license SL3664129. General information for South Florida, not legal, tax, insurance or lending advice. Laws, programs and prices change; check the official sources above, and ask a Florida attorney, CPA, insurance agent or lender about your situation. Listing numbers are asking prices and rents from BeachesMLS on the date shown. Equal Housing Opportunity. Zach Curtis and Realty Hub follow federal, Florida and Broward County fair housing law. Every listing is open to everyone. We never steer anyone by race, color, religion, sex, national origin, disability, familial status, age, sexual orientation, gender identity, or any other protected class.