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Coral Springs Introduction
Coral Springs is a city in southeastern Florida located in Broward County. It is approximately 30 minutes southwest of Boca Raton, 30 minutes northwest of Fort Lauderdale, and 50 minutes northwest of Miami. Corals Springs is approximately 20 minutes west of Florida's east coast.
Coral Springs Neighborhoods
Coral Springs divides itself into the following sections: Town Center, Center West, Northside, Northeast, Southwest, and Southeast. Coral Springs is a sprawling community with few tall buildings. The tallest building in Coral Springs is 12 stories tall. Downtown Coral Springs is undergoing extensive redevelopment. When done, downtown (Town Center) will feature offices, retail space, a new government center, approximately 1,000 residential units, and a new hotel.
Coral Springs Real Estate
In 2005, there were an estimated 45,629 housing units in Coral Springs (US Census Bureau). 67.9% of Coral Springs homes were owner occupied, essentially the same as the national average. 5.2% of Coral Springs homes were vacant. The vacancy rate for Coral Springs is well below the national average.
Coral Springs housing is relatively new. Only 2% was built prior to 1960. 26.2% was built in the 1960s and 1970s, 31.9% was built in the 1980s, 30.5% built in the 1990s, and 9.4% from 2000 on. Two thirds of Coral Springs homes are four to seven rooms in size. They most commonly have two to three bedrooms, but over a third have four or more.
As of 2005, a Coral Springs home had a median value of $390,800 (US Census Bureau), which was well above the average for the US (167,500). 2005's median price also represented a substantial increase over 2000 when the median value of a Coral Springs home was worth $175,500. For 2006, the median price was $415,000, substantially above the median for Broward County ($323,000).
86.5% of Coral Springs' owner-occupied houses have a mortgage. Nearly a third of Coral Springs property owners are tapping into the equity in their home with equity loans and second mortgages.
Median owner costs for a house in Coral Springs were $1,940 per month in 2005, well above the national average.
Coral Springs Property Taxes
The Broward County Property Appraiser's Office is responsible for valuing homes for real estate tax purposes in all of Broward County including Coral Springs. The Broward County Revenue Collector collects the real estate taxes for Coal Springs and Broward County. The median annual real estate tax assessment for a home in Coral Springs was $3,752 as of 2005 according to United States Census Bureau estimates.
Coral Springs Schools
Coral Springs is served by the Broward County Public School District (BCPSD). Broward County Public Schools operates 19 schools within Coral Springs - 3 high schools, 4 middle schools and 12 elementary schools. All of the elementary and middle schools earned A grades in 2006 under the Florida's A+ Plan for Education. The high schools earned B grades. There are also three charter schools in Coral Springs
Coral Springs is also served by institutions of higher education, including Barry University, Broward Community College, and Nova Southeastern University.
Coral Springs Economy
The Coral Springs economy is similar to that of surrounding communities and heavily influenced by nearby Miami. Major sectors of the Coral Springs economy include:
According to United States Census Bureau estimates, the median family income in Coral Springs was $70,723 in 2005, which was well above the national average ($55,832) and the Florida average ($50,465).
Coral Springs and Florida Mortgage and Real Estate Organizations
| Category | Value |
|---|---|
| Homes With No Mortgage | 11% |
| With A Mortgage | 89% |
| First Mortgage Only | 68% |
| Second Mortgage or Home Equity Loan | 21% |
| Second Mortgage Only | 11% |
| Home Equity Loan Only | 10% |
| Category | Value |
|---|---|
| Owner Costs as % of Income | 22.8% |
| Median Real Estate Taxes (2000) | $2,797 |
| Category | Value |
|---|---|
| Total Occupied | 39,497 |
| 1-Person Households | 15% |
| 2-Person Households | 28% |
| 3-Person Households | 22% |
| 4-Person Households | 22% |
| 5-Person Households | 9% |
| 6-Person Households | 3% |
| 7+-Person Households | 1% |
| Category | Value |
|---|---|
| Median Year Built | 1986 |
| Median Year Built (Owner Occupied) | 1986 |
| Median Year Built (Renter Occupied) | 1986 |
| Category | Value |
|---|---|
| Using Utility Co. Gas Heat | 0% |
| Using Bottled/Tank Gas Heat | 0% |
| Using Electric Heat | 98% |
| Using Oil Heat | 0% |
| Using Coal | 0% |
| Using Wood Heating | 0% |
| Using Solar Heat | 0% |
| Other Heating | 0% |
| No Heating | 1% |
| Category | Value |
|---|---|
| No Bedrooms | 0% |
| 1 Bedroom | 3% |
| 2 Bedrooms | 12% |
| 3 Bedrooms | 29% |
| 4 Bedrooms | 45% |
| 5+ Bedrooms | 10% |
Rate quotes from multiple lenders for the Coral Springs area:
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