Why I Can't Afford a Home in Boca Raton...(As Marketing Manager)...& Ways to Fix It! #BocaRaton
Jon Schwartz
Founder and Webmaster for @DataWavves | Demand Generation and Digital Marketing Pro | RevOps Marketing Professional |
After leaving Boca Raton 18 years ago, my goal of buying a home in my hometown seems ever so out of reach. Despite Median housing prices peaking in Jan 2023 at $734k, the current median price of $627,129, puts it right below the median price for California and NY.
That being said, if I were to try and buy a median Boca Home with $50,000, how much do you think that would be at current interest rates.....?
Using BankRate.com I got this figure: $4,245 / mo. with $50,000 down. I would essentially be able to afford a house, a car and food. Nothing more.
So while you could say - Jon go move to Boynton or Delray or Deerfield, I would say, why can't we make Boca Raton a more family-friendly city for middle-class families or for young professionals like me who want to start a family here in the city I grew up in?
Look Boca has long been known as an affluent city in South Florida, with a significant Jewish population (and I am obviously Jewish too - Schwartz) and even though many in South Florida think Boca is only for the rich, I met so many wonderful life long friends in this city, that I still stay in touch with 20 years later. That would be harder than ever to do today.
Based on the 627K median price, this has made it challenging for young professionals, including those in #marketing, to afford homes in the area, especially if they're looking to return to their hometown after being away for several years.
Affordable Housing in the US
The issue of affordable housing is a common challenge in many desirable urban and suburban areas across the United States, and Boca Raton is no exception. The lack of affordable housing options can indeed make it difficult for younger generations and professionals in various fields to establish themselves in the community where they grew up.
We need a new perspectives and more affordable housing options in Boca Raton.
Period.
Full Stop.
And This will take a village to achieve, between City Officials, Developers and most of all the existing resident, we all have to think about what we want Boca Raton to be in 10 to 20 years from now. How can we foster more art, music, young families, young professonials and more innovation?
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Diverse communities with a mix of ages, professions, and socioeconomic backgrounds often lead to more vibrant, innovative, and sustainable cities. Introducing more low and affordable housing could help attract and retain younger residents, potentially bringing new ideas and energy to the community.
As for Boca Raton being a beacon for South Florida and a representation of Jewish communities across the USA, it's important to note that many Jewish communities nationwide face similar challenges in balancing tradition, affluence, and the need for inclusivity and affordability. Creating more accessible housing options could indeed help Boca Raton maintain its status as a prominent Jewish community while also becoming more inclusive and representative of diverse socioeconomic backgrounds.
To address these issues, potential solutions might include:
It's worth noting that implementing such changes often requires navigating complex local politics, zoning regulations, and sometimes resistance from established residents. However, addressing these challenges could lead to a more diverse, dynamic, and sustainable community in Boca Raton.
If you'd like more specific or up-to-date information about the current housing market in Boca Raton, I recommend consulting recent local real estate reports, contacting local realtors, or reaching out to the city's housing department for the most accurate and current data.
If you like my ideas, please message me on LinkedIn or Email me too.
Thanks for reading my first article of many of being a marketer in South Florida,
With Thought,
Jon
Jonathan D. Schwartz
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