Sizing up from a condo to a home in South Florida

by Emily Marek

Condominium owners looking for more space, access to outdoor areas and increased distance from neighbors often consider a detached home to be a natural upgrade. But are these upsizing dreams actually attainable?

Using data from Yardi Matrix and various realtor associations, real estate site Point2 Homes determined what it takes to move from a condominium to a single-family home in the 200 largest cities in America. In the Miami-Fort Lauderdale-Pompano Beach area, the median condo  and median home prices are similar, meaning sizing up is more attainable than most major metro areas. The median condo in the region is $520,000 while the median house costs $549,000. 

Three South Florida communities — Pembroke Pines, Hialeah and Hollywood — are among the top 25 cities in the U.S. for price difference percentage between condos and homes, making those areas some of the most difficult to size up. 

In Hollywood, the median condo is $291,000 while the median home is $592,000, a difference of 103%. That ranked Hollywood No. 17 out of the top 25.

Hialeah ranked No. 6, with the median condo at $216,000 and home price of $515,000, a difference of 138%

Pembroke Pines was No. 4 with a price difference of 164%. The median condo there is $220,000 and the median home is $590,000.

On the flip side, condo prices outweigh home prices in several large metros areas. Prospective buyers can actually expect to turn a profit when “upgrading” from a condo to a detached home in Chicago, Boston, Detroit, Memphis and Cleveland.

Read More Related to This Post

Join the conversation

New Subscribe

  • This field is for validation purposes and should be left unchanged.