Market Overview
Location and Weather
Ft. Lauderdale, which used to be the favorite destination for college Spring Break, has matured into a quieter beach city with a diverse culture and job base. Located on the Atlantic Ocean, it’s a boater’s paradise and provides 165 miles of navigable waterways. Most cruise ships leave from Port Everglades, the third busiest cruise ship port worldwide.
The summers in Ft. Lauderdale are very warm, humid and long, but the Atlantic Ocean provides an almost constant breeze to keep the air cooler. The summers high temperatures are in the 90’s and lows are in the 70’s. The cold season is mild and short, with the high temperatures in the 70’s and lows in the 60’s.
Population, Job Market and Cost of Living
Ft. Lauderdale’s population in 2018 was 182,595, with a growth rate of 1.51%. The job growth has increased by 1.87% over last year and in ten years, is predicted to be at 32.87%. Tourism continues to bring thousands of visitors to Ft. Lauderdale each year. The major industries are Retail, Hospitality and Healthcare. The largest employers are AutoNation, MEDNAX, and Citrix Systems. The cost of living is high, due to the demand for Ft. Lauderdale real estate. This includes those moving from the northern states to live in the warm Florida climate.
With its tropical climate, steady job growth, large employers, and many cultural activities, Ft. Lauderdale will continue to attract those that enjoy the Florida lifestyle.
Real estate market data in Ft. Lauderdale
Average Monthly Rent:
$1,971
Percentage Change in Home Price/Value:
1.10%
Median Home Value:
$319,300
Best Time To Sell Home:
April
Affordability Index:
95.6
Days To Sell House:
115.75
Job Market:
Fair
Public School Ranking:
26
