PA Speakers for Parties

One point is whatever speakers you buy, the volume controls should be modified so they never can go to 100% volume. make the volume coontrol lock/top out at 70% of full volume. Then they will be way less likely to ever just be blown up at some future drunken brawl called a party.
Also, bigger is better for SPLs.. Small speakers just have to work way harder to cover a big crowded space.
You should go ask DJ and Rave sites to know what sort of equipment to buy.
Audiophiles would not know.

Thanks for the input, I literally have no equipment, its mostly to play ipods with playlists and such. My budget is around $300.

I think your budget is unrealistic.. Big room ( get the exact dimensions) lots of people.. playing dance music.. you're gonna need some real stuff.. Google is your friend, but here's a link to get you started.. might even want to give them a call... http://www.sweetwater.com/shop/live-sound/pa-speakers/

This might work for you.CheapDJGear.com

Go away.