Fort Lauderdale Investment Property for Sale - 2023 Rental Home Appreciation
The Fort Lauderdale real estate market is part of the scorching South Florida market. Why is it so hot? Location, growth, demand, and well above average home value appreciation. It's been a destination for internal migration and tourists for decades. Fort Lauderdale presents an opportunity for real estate investors to enter the valuable South Florida market because the competition isn't as fierce as in other cities like Los Angeles or New York.
Fort Lauderdale's Attractive Housing Market
Ft Lauderdale is one of South Florida's gems. It's home to the pristine Fort Lauderdale Beach, the fashionable Las Olas Boulevard, and Venetian-style gondola rides through the city's canals. Plus, there's always something going on in Downtown Fort Lauderdale.
Real estate investors can find nearly every property type in Fort Lauderdale's homes for sale. They include everything from condos and townhouses to multi-family homes and single-family homes with large and small lot sizes. You can also find foreclosures and commercial real estate in the city's new listings.
The Fort Lauderdale area is home to many great neighborhoods and suburbs for real estate investors to consider. They include Boca Raton, Dania Beach, Miami, West Palm Beach, and Wilton Manors.
- Boca Raton: Boca Raton is located 20 miles north of Fort Lauderdale along I-95. It's known for its white sand beaches and beautiful blue waters. The median listing price in Boca Raton is $344/sqft, and the median sales price is $650,000. The median rent is $3,500/month.
- Dania Beach: Dania Beach is located 5 miles south of Fort Lauderdale along I-95. It's one of the few South Florida beaches with dining and nightlife on the water. The median listing price in Dania Beach is $300/sqft, and the median sales price is $400,000. The median rent is $2,750/month.
- Miami: Miami is located 29 miles south of Fort Lauderdale along I-95. It's famous for its nightlife and beaches. The median listing price in Miami is $411/sqft, and the median sales price is $571,000. The median rent is $3,500/month.
- West Palm Beach: West Palm Beach is located 46 miles north of Fort Lauderdale along I-95. It has a growing arts scene and a trendy downtown area home to many local restaurants and bars. The median listing price in West Palm Beach is $285/sqft, and the median sales price is $419,900. The median rent is $2,600/month.
- Wilton Manors: Wilton Manors is located 3 miles north of Fort Lauderdale via N Andrews Avenue. It's South Florida's most famous "Gayborhood" and is a destination for the LGBTQIA+ community. The median listing price in Wilton Manors is $435/sqft, and the median sales price is $734,000. The median rent is $2,600/month.
A few other neighborhoods worth noting are Davie, the nexus of higher education in South Florida; Hollywood, home to 7 miles of gorgeous beaches; Oakland Park, a small, family-friendly city; Palm Beach, home to the rich and famous; and Pompano Beach, known for its boating and fishing. Whatever you're looking to invest in, Fort Lauderdale homes have something to offer.
Rental Home Appreciation in Fort Lauderdale
Fort Lauderdale has a strong rental market that generates a lot of demand for rental properties. Nearly half (49%) of households in Fort Lauderdale are occupied by renters, and the city only has a 4.3% vacancy rate.
According to Realtor, the median listing price in Fort Lauderdale is $461 per square foot with a median sale price of $650,000. Zillow's Home Value Index reports an impressive 30.4% change since last year. The median rent in Milwaukee is $2,950 per month. That's not a bad return on investment.
Fort Lauderdale's strong rental market and high property value appreciation create a great investment opportunity. A Fort Lauderdale rental property could yield significant returns for real estate investors looking to invest in an income property.
Economic Growth in Fort Lauderdale
Fort Lauderdale is in Broward County, Florida, along the Atlantic Coast. It's the tenth-largest city in Florida and just a short drive to Miami, the state's second-largest city. Because of its location, Fort Lauderdale has been a hotspot for tourists from northeastern states like New York for years.
Fort Lauderdale's primary industries are marine, manufacturing, finance, technology, and aerospace. The largest employers are Seabulk International, Broward Health, Broward County, and the Rick Case Automotive Group. The Fort Lauderdale area is also the headquarters of AutoNation, Citrix, Inc., and Kaplan. These employers provide jobs and stability to the city's economy. That's why the unemployment rate is just 2.8%.
The Fort Lauderdale real estate market offers homebuyers and real estate investors location, demand, and high home value appreciation. They combine to create a tremendous investment opportunity.
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