Fort Lauderdale Real Estate Market Overview
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Location and Weather
Fort 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 Fort 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
Fort 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 Fort 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 Fort 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, Fort Lauderdale will continue to attract those that enjoy the Florida lifestyle.