Fort Lauderdale appreciation rates and housing market information

Fort Lauderdale housing market information

With 152,125 people, 80,780 houses or apartments, and a median cost of homes of $287,650, Fort Lauderdale real estate prices are well above average cost compared to national prices.

large apartment complexes or high rise apartments are the single most common housing type in Fort Lauderdale, accounting for 44.14% of the city's housing units. Other types of housing that are prevalent in Fort Lauderdale include single-family detached homes (34.25%), duplexes, homes converted to apartments, or other small apartment buildings (15.77%), row houses and other attached homes (3.73%), and a few mobile homes or trailers (1.63%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Fort Lauderdale primarily live in small (one, two, or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Fort Lauderdale has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Fort Lauderdale's housing was primarily built during this period, from the '40s through the '60s. A full 60.29% of the city's housing hails from this era. Other housing ages represented in Fort Lauderdale include homes built between 1970-1994 (33.82%), and housing constructed from 1939 and earlier (3.22%). There's also some housing in Fort Lauderdale built between 1995 and later (2.67%).

Vacant housing appears to be an issue in Fort Lauderdale. Fully 15.27% of the housing stock is classified as vacant. Left unchecked, vacant Fort Lauderdale homes and apartments can be a drag on the real estate market, holding Fort Lauderdale real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Fort Lauderdale home appreciation rates

In the last 10 years, Fort Lauderdale has experienced some of the highest home appreciation rates of any community in the nation. Fort Lauderdale real estate appreciated 117.30% over the last ten years, which is an average annual home appreciation rate of 11.73%, putting Fort Lauderdale in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fort Lauderdale definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Fort Lauderdale appreciation rates have trailed the rest of the nation. In the last twelve months, Fort Lauderdale's appreciation rate has been -21.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fort Lauderdale were at -1.53%, which equates to an annual appreciation rate of -6.12%.

Notably, Fort Lauderdale's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Fort Lauderdale's latest annual appreciation rate is higher than 10% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fort Lauderdale differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fort Lauderdale - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Fort Lauderdale real estate investment or home purchase decisions.