There’s some good news for first-time homebuyers in Palm Beach County.
Residents can get some financial assistance through a state program, just as more homes are available on the pricey market — giving buyers more options.
Palm Beach County is offering residents up to $100,000 in assistance through Florida's State Housing Initiatives Partnership Program (SHIP).
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It looks to help low- to moderate-income families, and there's a new opening window to apply. The state funds can help qualified people with down payments, closing costs and even new construction.
Officials say it’s a 0% interest loan, forgiven after 30 years if the buyer remains in the home.
Applications open May 5th at noon and close by May 23rd.
Only 100 applications will be accepted. And homebuyers are required to attend one of the mandatory online orientations happening throughout April and May.
Housing market listings in the county have increased, according to the Miami Association of Realtors' February 2025 report. Total active listings rose by nearly 30% year-over-year, from more than 11,000 to nearly 14,600.
And single-family home inventory grew by just over 20%, from 5,080 to just over 6,000 listings, while inventory for condominium saw a 32% increase, rising from over 6,000 to just over 8,000 listings.
However, prices are still climbing. The median price for a single-family home hit $650,000 dollars in January.
It’s a competitive market for single-family homes, but experts say condos are leaning towards a buyer’s market.
The dates for the virtual pre-application orientations are:
- Tuesday, April 15, 2025, at 10:00 am
- Tuesday, April 22, 2025, at 12:30 pm
- Thursday, April 24, 2025, at 2:00 pm
- Tuesday, April 29, 2025, at 4:00 pm
- Thursday, May 1, 2025, at 3:30 pm
More details, including the links to join the meetings, can be found here.
