Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 182,595 people, 74,160 houses or apartments, and a median cost of homes of $376,743, real estate costs in Fort Lauderdale are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.
Large apartment complexes or high rise apartments are the single most common housing type in Fort Lauderdale, accounting for 45.85% of the city's housing units. Other types of housing that are prevalent in Fort Lauderdale include single-family detached homes ( 36.05%), duplexes, homes converted to apartments or other small apartment buildings ( 11.52%), and a few row houses and other attached homes ( 5.36%). 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 49.93% of the city's housing hails from this era. Other housing ages represented in Fort Lauderdale include homes built between 1970-1999 ( 33.10%) and housing constructed between 2000 and later ( 15.19%). There's also some housing in Fort Lauderdale built before 1939 ( 1.78%).
Vacant housing appears to be an issue in Fort Lauderdale. Fully 23.11% 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.
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 92.36% over the last ten years, which is an average annual home appreciation rate of 6.76%, 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.
Appreciation rates are so strong in Fort Lauderdale that despite a nationwide downturn in the housing market, Fort Lauderdale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fort Lauderdale appreciation rates continue to be some of the highest in America, at 5.68%, which is higher than appreciation rates in 76.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fort Lauderdale. Fort Lauderdale appreciation rates in the latest quarter were at 1.88%, which equates to an annual appreciation rate of 7.74%.
Importantly, this makes Fort Lauderdale one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that Fort Lauderdale's latest annual appreciation rate is lower than 60% 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 2000, to assist you in making the best Fort Lauderdale real estate investment or home purchase decisions.
|$953,001 - $1,272,000||4.6|
|$635,001 - $953,000||10.0|
|$508,001 - $635,000||8.0|
|$381,001 - $508,000||15.0|
|$254,001 - $381,000||18.8|
|$127,001 - $254,000||24.9|
|$64,001 - $127,000||7.2|
|$0 - $64,000||3.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Fort Lauderdale HOMES|
|2000 or Newer||15.2|
|1970 - 1999||33.1|
|1940 - 1969||49.9|
|1939 or Older||1.8|
|TYPE OF Fort Lauderdale HOMES|
|Small Apt. Buildings||11.5|
|SIZE OF Fort Lauderdale HOMES|
|5 or more bedrooms||1.78|