Rent to own Homes in Pompano Beach, FL
Often called the Heart of the Gold Coast, Pompano Beach, Florida, is a city in Broward County that has just about everything. It is located halfway between Palm Beach and Miami with Fort Lauderdale barely 10 miles to the north. With a small town vibe and big city entertainment options, it attracts hundreds of thousands of tourists each year. Visitors have the option of relaxing on the famous Pompano Beach, snorkeling or SCUBA diving on the living coral reef just off-shore, heading out to the sea on the many fishing boats that leave the city every day, or just spending a quiet evening strolling along the thousand foot long municipal beach pier. Little wonder that Pompano Beach has been ranked among the country's hottest real estate markets by CNN and the Wall Street Journal.
Pompano Beach, FL is a great place for affordable rent-to-own homes! With a median household income of over $52,565 and a median rent of $1,314, the Pompano Beach, FL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Pompano Beach, FL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Pompano Beach, FL Property Resources
Rent to own Homes in Cities Near Pompano Beach, FL
- Aventura
- Bal Harbour
- Bay Harbor Islands
- Biscayne Park
- Boca Raton
- Boulevard Gardens
- Boynton Beach
- Briny Breezes
- Broadview Park
- Coconut Creek
- Cooper City
- Coral Springs
- Country Club
- Dania
- Dania Beach
- Davie
- Deerfield Beach
- Delray Beach
- Hallandale
- Lantana
- Lauderdale-by-the-Sea
- Lauderdale Lakes
- Lauderhill
- Lighthouse Point
- Manalapan
- Margate
- Miami Gardens
- Miami Lakes
- Miami Shores
- North Lauderdale
- North Miami Beach
- Oakland Park
- Ocean Ridge
- Ojus
- Opa-locka
- Palm Springs North
- Pembroke Park
- Pembroke Pines
- Pinewood
- Plantation
- Roosevelt Gardens
- Sea Ranch Lakes
- Southwest Ranches
- Surfside
- Tamarac
- Washington Park
- Watergate
- Weston
- West Park
- Westview
Neighborhoods in Pompano Beach, FL
Avondale rent to own homes Tod Acres Country Club rent to own homes Atlantic View rent to own homes Cypress Bend rent to own homes Edgewood rent to own homes Cypress Creek Estates rent to own homes Pompano Beach rent to own homes Palm Aire rent to own homes Arvida Pompano Park rent to own homes Hunters Manor rent to own homesPopular Zip Codes in Pompano Beach, FL
33060 rent to own homes 33061 rent to own homes 33069 rent to own homes 33062 rent to own homesBuying a Home in Pompano Beach, FL
Pompano Beach, FL is seeing rapid growth and Pompano Beach, FL's' housing market remains not optimal with an average home price that is 5% above the 2024 national average. Pompano Beach, FL is part of Broward county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Broward is 1.08% which is above the national average, which is 0.99%.
Median Home Price in Pompano Beach, FL
Median Rent in Pompano Beach, FL
Top Reasons to Live in Pompano Beach FL
Housing Statistics In 2003, the median sales price of a home in Pompano Beach was $139,000. In the last ten years, this price has increased to $148,000, hitting a high of $225,000 during the 2005-07 housing boom. Total number of home sales in the city has been steadily increasing in the last few years with almost a thousand sales in 2012 alone, indicating Pompano Beach's growing importance as a vacation real estate market. This being Florida, condos are the most popular property type, with over 846 such properties for sale. Single family homes are the second most popular property type with over 387 listed properties. Condos are significantly more affordable, however, with average sales price clocking in at $223,848. Average sales price for single family homes, on the other hand, is $449,668. If this price is on the higher side, you can negotiate with a rent to own home plan.
Largest Employers Pompano Park, a harness racing track located in the heart of Pompano Beach (and often dubbed the 'Winter Home of Harness Racing'), is the city's largest employer, giving employment to over 1,100 people. This is followed by the local government of Pompano Beach and the Broward County Sheriff's Office, which employ 712 and 700 people respectively. Department stores Walmart and Publix are two other big employers, with 687 and 685 employees respectively. Given Florida's popularity as a retirement destination, it should be no surprise that Aetna Rx Home Delivery, which home delivers medication to the elderly, is the city's sixth largest employer with 490 employees.
Local Restaurants As a popular tourist destination, Pompano Beach boasts a wide variety of restaurants, from beach side snack stands to fine dining establishments. In fact, there are nearly 300 places to eat in the city. With a menu consisting largely of donuts and milkshakes, Dandee Donuts Factory on E Atlantic Blvd is among the city's most popular dining spots. Gianni's Ristorante, also on E Atlantic Blvd, is home to some of the finest authentic Italian food within the Fort Lauderdale area. For something a little more romantic, head to Darrel & Oliver's Cafe Maxx, which serves freshly caught seafood.
Weather and Climate Located off the southern edge of Florida, Pompano Beach has a subtropical rainforest climate. Summers are hot and humid, especially around bodies of water. You can expect temperatures to hit 80-90F during summer months. Fall and spring are much more pleasant with temperatures in the 70-80F range, low humidity and cool winds blowing in from the Atlantic. Winters are mild and pleasant with temperatures rarely going below 60F. However, the occasional cold snap can bring temperatures down to almost 20F, which poses a particular danger to exotic tropical plants and wildlife.
Shopping in Pompano Beach The streets of Pompano Beach are filled with boutiques, shops, and galleries. Festival Flea Market mall, an indoor market with over 800 merchants and retailers, is one of the city's most popular shopping haunts. It houses a farmer's market, a food court, a full service beauty salon, and a huge range of local and international brands. Hillsboro Antique Mall, located right next door to the Festival Flea Market, is the city's other major shopping destination. As the name suggests, this mall houses 250 antique dealers who trade in fine antiques, collectibles and even antique clothing, making it a must-stop for tourists.