Your Parkland, FL Real Estate Questions Answered

Are you thinking of moving to South Florida? If so, Parkland may be the right place for you.

Parkland is one of the most lucrative and desirable locations for property investments in South Florida. With its top-rated schools and growing economy, Parkland is an attractive location for those looking to start or raise a family.

Whether you’re looking for a family-friendly suburban environment or an active lifestyle with access to great shopping, dining, and entertainment, Parkland has it all.

In this blog post, we’ll answer some of the most common questions about real estate in Parkland so that you can make an informed decision about your next move.

What Do You Need To Know About Parkland, FL?

Parkland is a suburb of Fort Lauderdale in Broward County and is one of the top places to live in South Florida. As of July 2021, it has a growing population of 35,265 people from all walks of life. Situated near Boca Raton and Coral Springs, Parkland is a vibrant residential hub with many parks, trails, and activities for people of all ages.

Living in Parkland offers a rural lifestyle with the convenience of being close to major cities. It’s also one of the safest cities in Florida, offering excellent public safety services and a crime index below the national average. The city is also known for its top-rated schools, making it an ideal place for families to grow and flourish.

Parkland is a relatively small suburban city but has no shortage of amenities. The city is home to several shopping centers, parks, and restaurants. Being close to the beach, you can enjoy various water activities with your family and friends. It’s also home to many equine facilities and is an incredible location for raising horses.

Employment opportunities are also plentiful in Parkland. The city’s economy is growing and is expected to continue to grow, with plenty of new businesses opening in the area.

How Much Do Houses Cost in Parkland, FL?

Most Parkland residents own their homes, with approximately 86 percent owning their homes compared to 14 percent renting. The median home value in Parkland is currently $$1,047,500 as of February 2023, while the median rent is roughly $4,500.

Parkland offers plenty of housing options for buyers and renters. Homes come in various styles and sizes, ranging from luxury estates & spacious single-family homes as well as a variety of condos, apartments, or townhouses available for rent in the area, perfect for those looking to downsize or get into the real estate market but who don’t have the budget for a full-sized house.

The housing market in Parkland is always competitive. There are many homes on the market, ranging from $439,000 to $6 million. Meanwhile, the median listing price is around $1.2 million. There are also dozens of rental spaces in Parkland, ranging from $3,000 to $13,000 per month.

With so many options available, prospective buyers have the leverage to negotiate prices on homes and get amazing deals. In January 2023, buyers were purchasing homes that were 6.12 percent below their asking price on average. This is good news for those looking to move to Parkland — right now is an excellent time to purchase a home in the area.

The average days on the market for Parkland homes is around 56 days right now. This gives buyers plenty of time to find the perfect living space. However, if you’re looking to buy a home in Parkland, it’s crucial to act quickly since many of the most desirable properties are swiftly taken.

How Does the Economy of Parkland, FL Look Like?

Parkland’s economy is growing, with many new businesses, developments, and construction projects. The city’s median household income is $126,905 annually, more than double the $53,482 yearly national average. Additionally, the unemployment rate is 3.2 percent, almost half the national average of 6 percent.

Parkland has also experienced an increase in the job market over the past year by 1.9 percent. Future job growth is expected to be around 48.4 percent over the next decade, higher than the national average of 33.5 percent.

The top industry in Parkland is professional, scientific, and technical services, followed by healthcare and social assistance, then finance and insurance. These industries provide jobs for many of the city’s residents and help drive the local economy forward. The top-paying industries are information services and data processing, utilities, administration and support, and waste management services.

What Is the State of Living in Parkland, FL?

Parkland is an excellent place to live. The suburban city offers a small-town atmosphere and beautiful landscapes while providing access to big-city amenities. Residents can enjoy world-class shopping centers, entertainment venues, and outdoor activities.

The cost of living in Parkland is slightly higher than the national average, but that is to be expected given that it’s an affluent area. However, the sales tax rate is lower than the national average, at 6 percent, compared to the 7.3 percent national rate. A perk of living in Florida is that there’s no state income tax, compared to the 4.6 percent national average.

Most Parkland residents own cars, with an average of two vehicles per Parkland household. Most workers use their cars to commute, while others carpool. The average commute time is 30.4 minutes, slightly longer than the national average of 26.6 minutes.

Is Parkland, FL a Diverse City?

Parkland is a diverse city that offers residents a unique mix of cultures, languages, and backgrounds. In 2020, the racial and ethnic groups in the city population were as follows:

White and Non-Hispanic (63.2 percent)
White and Hispanic (13.3 percent)
Black or African American and Non-Hispanic (8.02 percent)
Asian and Non-Hispanic (7.89 percent)
Multiracial and Non-Hispanic (3.49 percent)

The rate of foreign-born citizens in Parkland is 23.4 percent. This indicates that many people have recently moved to the area for work or other reasons, which helps contribute to the city’s diversity and rich culture.

What Neighborhoods Are in Parkland, FL?

Parkland has a variety of different neighborhoods, each with unique characteristics. The city is divided into several sections, including:

Each neighborhood has a different atmosphere, from the family-friendly settings of Cypress Cay and Fox Ridge to the more luxurious settings of Grand Cypress Estates and Heron Bay.

Regardless of what kind of home and lifestyle you are looking for, there is something for everyone in Parkland, Florida.

What Are Some Great Schools in Parkland, FL?

Parkland is home to some of the best schools in the state, including the following.

Elementary Schools

Heron Heights Elementary School
Park Trails Elementary School
Park Springs Elementary School
Riverglades Elementary School

Middle School

Westglades Middle School

High School

Marjory Stoneman Douglas High School

Private Schools

Kol Tikvah
Mary Help of Christians Catholic School

Charter Schools

Somerset Academy Parkland

Broward County Public Schools operate all public schools in Parkland. The district has an excellent reputation for providing students with a quality education and the opportunity to excel in many areas.

What Areas Are Near Parkland, FL?

Parkland is in the heart of Broward County and is just north of Miami. This makes it convenient for residents to commute to the many amenities in South Florida. It’s close to some great cities and attractions, such as:

Boca Raton
Coral Springs
Pompano Beach
Fort Lauderdale
Miami

Moreover, Parkland is only about 30 minutes from the Fort Lauderdale-Hollywood International Airport and an hour from the Miami International Airport.

Is Parkland, Florida in a Flood Zone?

Yes, Parkland is located in a high-risk flood zone. The area is subject to flooding due to its proximity to the Everglades and low elevation, and it’s also close to the Atlantic Ocean, which can cause storm surges.

Many neighborhoods in Parkland are located in or near the Special Flood Hazard Area (SFHA) and may require flood insurance, which most homeowners’ insurance policies do not cover. Fortunately, the city participates in the National Flood Insurance Program (NFIP), making it easier and more affordable for Parkland homeowners to obtain flood insurance coverage.

The city also has a variety of ordinances that help protect against flooding and storm damage. These include regulations on building structures, drainage systems, and stormwater management.

Parkland homeowners should be aware of the risk of flooding and take steps to protect their property from floods and other natural disasters. Aside from purchasing flood insurance, they may also consider investing in quality home construction materials and installing sump pumps or other systems that can help prevent water damage.

Final Thoughts

Parkland, Florida is an attractive city for many reasons. With its excellent schools, diverse neighborhoods, and proximity to popular South Florida attractions, it’s easy to see why Parkland is such a desirable place to live.

However, potential homeowners should be aware of the risk of flooding in the area and take steps to protect their property adequately. Investing in flood insurance and ensuring that homes are built to withstand floods can help keep Parkland residents safe and secure during times of natural disaster.

Prospective Parkland homebuyers should also take advantage of the current buyer’s market to get the most value for their money when purchasing a home in Parkland. With so many great housing options and amenities, Parkland is an excellent choice for anyone looking to make Florida their home.

If you’re looking for a safe, family-friendly community with plenty of attractions nearby, Parkland may be the perfect place for you!

Posted by Andy Mandel on February 27th, 2023

The Mandel Team Real Estate Blog