How much income do you need to buy a condo in Hallandale Beach or Hollywood? (2026)
October 29, 2026 · Zach Curtis, REALTOR®, Realty Hub
The income you need for a condo depends on four numbers: the price, the rate, the HOA dues and your other debts. Lenders don't use a salary rule of thumb; they compare your total monthly debts, including the new housing payment, with your gross monthly income. Here's that math for real Hallandale Beach and Hollywood condos, using live listings and today's rate.
How lenders turn a payment into an income
The key number is the debt-to-income ratio (DTI): your monthly debts divided by your gross monthly income. For a condo, the housing payment includes principal and interest, property tax, insurance and the association dues (lenders call it PITIA). For conventional loans sold to Fannie Mae, the maximum total DTI is 36% for manually underwritten loans, up to 45% with the required credit score and reserves, and up to 50% through Fannie Mae's automated underwriting (Fannie Mae Selling Guide B3-6-02). FHA and VA loans have their own limits. Your lender decides what applies to you.
So, with no other debts: income needed = monthly housing cost × 12 ÷ DTI. At 36%, every $1,000 of monthly housing cost needs about $33,333 a year of income; at 45%, about $26,667.
Live: the median condo, by city and size
Live right now: the median condo in each group below, bought with 20% down at 7.24% for 30 years, with property tax estimated at 1.9% of the price, $151/mo unit insurance and the median stated HOA.
| City | Size | Listings | Median asking price | Median HOA | Monthly housing cost | Income at 36% (no other debts) | Income at 45% (no other debts) |
|---|---|---|---|---|---|---|---|
| Hallandale Beach | 1 bedroom | 414 | $220,000 | $656/mo | $2,354/mo | $78,467/yr | $62,773/yr |
| Hallandale Beach | 2 bedrooms | 502 | $350,000 | $1,074/mo | $3,687/mo | $122,900/yr | $98,320/yr |
| Hollywood | 1 bedroom | 395 | $299,900 | $814/mo | $3,075/mo | $102,500/yr | $82,000/yr |
| Hollywood | 2 bedrooms | 447 | $394,000 | $1,065/mo | $3,988/mo | $132,933/yr | $106,347/yr |
Live from 1,960 active BeachesMLS listings on zach.homes, as of October 31, 2026. Medians, not averages. HOA medians use only listings that state an HOA amount. Numbers change daily; each listing page shows its own facts with source and date.
Browse the listings behind these numbers: Hallandale Beach condos for sale, Hollywood condos for sale, or Hallandale Beach condos under $300K.
A worked example: $300,000 condo with $650 dues
An illustration, not a listing. 20% down ($60,000), a $240,000 loan at 7.24% for 30 years. 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.
- Principal and interest: $1,636/mo
- Property tax: about $475/mo (1.9% of the price, a planning estimate; homestead can lower it)
- Unit insurance (HO-6): about $151/mo, the Broward average per the Florida Office of Insurance Regulation's March 2026 data
- HOA dues: $650/mo
That's about $2,912/mo. With no other debts, the income needed is about $97,067 a year at 36% DTI, or $77,653 at 45%.
Other debts change it fast. Each $100 a month of car, card or student loan payments raises the income needed by about $3,333 a year at 36% DTI. A $450 car payment adds about $15,000.
Why HOA dues matter as much as price
Dues count dollar for dollar in the ratio. Two $300,000 condos, one with $450 dues and one with $1,050, are $600 a month apart, which is about $20,000 a year of required income at 36% DTI. That's why the dues and any special assessment belong in the comparison from the start. Before you offer, read the budget and reserve study; see milestone inspections, SIRS and assessments.
Ways to need less income
- A larger down payment lowers the loan payment; under 20% down, a conventional loan adds private mortgage insurance, which depends on your credit score.
- Paying down monthly debts before you apply.
- A co-borrower's income, if they'll be on the loan.
- Homestead: up to $50,000 off the assessed value of your main home lowers the tax line after the first year.
- A lower-dues building, or a townhouse where you insure the structure yourself.
- Down payment help like Florida Hometown Heroes for eligible first-time buyers; see the first-time buyer guide.
Cash you need besides the income
Income gets you approved; cash gets you to closing. Plan for the down payment plus closing costs: Florida's taxes on the loan, title insurance, lender fees and prepaid insurance. The Broward closing costs guide works it out line by line. Lenders may also want to see reserves, a few months of payments left in the bank after closing.
Next steps
- Run your own numbers in the affordability calculator and mortgage calculator.
- Get pre-approved with your real income and debts; compare at least two Loan Estimates.
- Check that the building is one your lender will finance before you fall for a unit.
- Compare with renting: rent vs. buy in Hallandale Beach.
Tell Zach your budget and timing on Ready to buy and he'll pull condos that fit, with dues and assessments checked.
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
How much income do I need to buy a condo in Hallandale Beach?
It depends on the price, dues, rate and your other debts. The table on this page works it out live for the median 1- and 2-bedroom Hallandale Beach condo at 20% down, at both 36% and 45% debt-to-income.
Do HOA fees count in my debt-to-income ratio?
Yes. For a condo, lenders count principal, interest, property tax, insurance and association dues (PITIA) as the housing payment.
What debt-to-income ratio do lenders allow?
For conventional loans sold to Fannie Mae: 36% for manually underwritten loans, up to 45% with required credit score and reserves, and up to 50% through automated underwriting. FHA and VA have their own limits.
How much do other debts change the income I need?
At a 36% ratio, every $100 a month of other debt payments raises the income needed by about $3,333 a year.
What rate does this page use?
Freddie Mac's weekly average 30-year fixed rate, 7.24% for the week of October 29, 2026. Your rate depends on your credit, down payment and points.
Sources
Published October 29, 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.