Fort Lauderdale, FL Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Fort Lauderdale, FL Housing Market Trends

With a population of 182,437, 74,567 total housing units (homes and apartments), and a median house value of $385,335, 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 46.11% of the city's housing units. Other types of housing that are prevalent in Fort Lauderdale include single-family detached homes ( 35.82%), duplexes, homes converted to apartments or other small apartment buildings ( 11.48%), and a few row houses and other attached homes ( 5.28%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and 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 48.90% of the city's housing hails from this era. Other housing ages represented in Fort Lauderdale include homes built between 1970-1999 ( 32.96%) and housing constructed between 2000 and later ( 16.31%). There's also some housing in Fort Lauderdale built before 1939 ( 1.83%).

Vacant housing appears to be an issue in Fort Lauderdale. Fully 22.22% 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 109.34% over the last ten years, which is an average annual home appreciation rate of 7.67%, 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.

NeighborhoodScout's data show that during the latest twelve months, Fort Lauderdale's appreciation rate, at 6.71%, has been at or slightly above the national average. In the latest quarter, Fort Lauderdale's appreciation rate has been 2.19%, which annualizes to a rate of 9.04%.

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.

Average Home Values

 

Median Home Value:
$385,335

Fort Lauderdale, FL HOME PRICES

> $1,244,000
7.9%
7.9%
$934,001 - $1,244,000
4.9%
4.9%
$622,001 - $934,000
10.8%
10.8%
$498,001 - $622,000
9.2%
9.2%
$374,001 - $498,000
15.9%
15.9%
$249,001 - $374,000
20.8%
20.8%
$125,001 - $249,000
22.6%
22.6%
$62,001 - $125,000
5.0%
5.0%
$0 - $62,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for FL

Value Relative To Nation

Number Of Homes And Apartments:
74,567

Fort Lauderdale Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
160.41% 4.61%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,828 / per month

Homeownership Rate

Owners
51.8%
51.8%
Renters
48.2%
48.2%
Vacant
22.2%
22.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.3%
16.3%
1970 - 1999
33.0%
33.0%
1940 - 1969
48.9%
48.9%
1939 or Older
1.8%
1.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
35.8%
35.8%
Townhomes
5.3%
5.3%
Small Apt. Buildings
11.5%
11.5%
Apt. Complexes
46.1%
46.1%
Mobile Homes
1.3%
1.3%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.2%
3.2%
1 Bedroom
21.9%
21.9%
2 Bedrooms
39.2%
39.2%
3 Bedrooms
27.7%
27.7%
4 Bedrooms
6.2%
6.2%
5 or more bedrooms
1.7%
1.7%
0.0% 100.0%
% OF HOMES