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Fort Lauderdale real estate market overview
- Average Monthly Rent: $2,711
- Home Price/Value Percentage Change: 11.30%
- Median Home Value: $512,568
- Best Time To Sell a Home: December
- Affordability Index: Moderate
- Days To Sell a House: 71
- Job Market: Fair
- Public School Ranking: 18
Location and weather
Fort Lauderdale is located on Florida's southeastern coast in Broward County, just 30 miles north of Miami. It's one of the largest resort cities located on the Atlantic Ocean and is infamous for its beaches, boating canals and high-end restaurants, museums, bars and boutiques.
This city's temperate climate consists of warm weather in the 90s majority of the year. Winters are short, windy and mostly clear, making it the ideal season for tourism. The coolest month is January, and there's around 130 days of precipitation annually.
Population, job market and cost of living
The population in Fort Lauderdale is 187,932, with a growth rate of 0.93% annually.
The job market has decreased by -7.72% over the last year. In ten years, job growth is predicted to be 37.97%. Fort Lauderdale is a hub for legendary restaurants and elite shopping centers, resulting in accommodation, food services and retail trade to be the primary industries within its job market. Considering Fort Lauderdale's close location to Miami, there is also an abundance of employment opportunities in their combined education industries. Acclaimed universities, such as University of Miami, Florida International University, Nova Southeastern University and Keiser University are located here.
Due to Fort Lauderdale being a tourist attraction and core location for up-scale recreation, its affordability is on the lower end of the spectrum. Overall, this is a costly city to live in.
Fort Lauderdale real estate market details
- Sailboat Bend
- Las Olas Isles
- Colee Hammock
- Rio Vista
- Victoria Park
- Coral Ridge
The average monthly rent in Fort Lauderdale is $2,711 for an average apartment size of 959 sq. feet.
There has been a 11.3% increase in Fort Lauderdale's median home value over the last year. As of 2023, the median home value is $512,568.
On average, homes in Fort Lauderdale sell after 71 days on the market.
The best time to sell a home for the highest value is during December and March, while home sales in February can provide the quickest sale.
The affordability index in Fort Lauderdale is 119. This number indicates moderate affordability in this city.
The top ranked public schools are Bayview Elementary School, Virginia Shuman Young Elementary School, Harbordale Elementary School, Fort Lauderdale High School, Sunrise Middle School and the Charter School of Excellence. This information is based on data from The US Department of Education, The US Census Bureau and the Florida Department of Education.