Fort Lauderdale, FL Real Estate & Homes for Sale | RE/MAX (2024)

FAQs

Are home prices dropping in Fort Lauderdale? ›

The median sale price of a home in Fort Lauderdale was $561K last month, up 2.0% since last year. The median sale price per square foot in Fort Lauderdale is $396, down 8.2% since last year.…

Is Fort Lauderdale an excellent place to invest in real estate? Absolutely. Fort Lauderdale's strong economy, prime location, and lifestyle appeal make it a desirable destination for real estate investment. The city offers a variety of investment opportunities, from vacation homes to rental properties.

Understanding the trends that are shaping the market can help homebuyers anticipate price shifts and plan their purchases more strategically. According to a study over the past year, Fort Lauderdale has shown resilience, maintaining a consistent level of demand for both single and multi-family properties.

metro area, which is ranked 34 out of 273 cities across the US in terms of cost of living. According to C2ER (the Council for Community and Economic Research), the cost of living in Fort Lauderdale is estimated to be 117.8% of the national average making it one of the more expensive cities in the US.

Fort Lauderdale Real Estate Market Snapshot

As of February 2024, data suggests that the median sale price for homes in this vibrant city is $561,000, highlighting a significant rise of 17.6% from the previous year according to Redfin.

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

You should not spend more than one-third, or 30%, of your gross income on rent to live comfortably, according to the 30% rule. For example, if your rent is close to the median for a one-bedroom apartment in Fort Lauderdale and costs $1,627, your monthly wages should be at least $5,423.33 per month or $65,080 annually.

But more affordable cities in the Midwest have taken the lead. Tampa Bay was Zillow's top housing market of 2022.

Coral Ridge is widely regarded as one of the safest neighborhoods in Fort Lauderdale. This area is known for its more significant properties, tree-lined streets, and nearby waterways. It's an excellent place for families, with plenty of parks, outdoor spaces, and easy access to some of Fort Lauderdale's best schools.

Fort Lauderdale has been a popular retirement destination for decades. Fort Lauderdale and the surrounding communities in Broward County offer a growing cultural community, proximity to the water, year-round warm weather, and an easy drive to Miami or West Palm Beach.

Does Fort Lauderdale flood a lot? ›

The city of Fort Lauderdale has moderate risk from flooding. There are 43,738 properties in Fort Lauderdale at risk of flooding over the next 30 years. This represents 79.3% of all properties in Fort Lauderdale. Find the flood risk for a specific property.

Lower Cost of Living

Fort Lauderdale is more affordable than Miami in terms of both property taxes and overall cost of living.

What the Numbers Say. The Ramsey Solutions research shows that housing prices in Florida have gone up, especially when comparing the fourth quarters of 2022 and 2023, respectively. At the end of 2022, the median sales price of a Florida home was $401,990.

Sale-to-list price ratio: 96.39% Fort Lauderdale, FL is a buyer's market in May 2024, which means that the supply of homes is greater than the demand for homes.

Welcome to the Apartment List July 2024 Rent Report for Fort Lauderdale, FL. Currently, the overall median rent in the city stands at $1,909, after falling 1.6% last month. Prices are now down 0.9% year-over-year.

Key Takeaway

The list price of homes in Lower Keys has increased by 24.2% since last year. Summary: The median home list price in Lower Keys was $1,180,000 in May 2024, up 24.2% from the previous year, and the median price per square foot was $857.