Fort Lauderdale Real Estate Market Overview
The median sales price for homes in Fort Lauderdale for May 24 to Aug 23 was $306,000 based on 861 home sales. This is an interesting trend to observe in the local markets since a lot of real estate experts and investors thought that the home price would definitely break 300k, and it ended up doing it!
If you are considering buying a home in this area of the state, then we highly recommend reading the home buying guide below that Trulia has put together. Could Fort Lauderdale, FL be your next home? Kick-start your search with Trulia’s real estate guide and home search. Average price per square foot for Fort Lauderdale was $253, an increase of 2% compared to the same period last year.
Median Rent Prices Also Gradually Increasing
The median rent per month for apartments in Fort Lauderdale for Jul 24 to Aug 24 was $2,175. It’s hard to believe that the average rental price in the city was just at $1,950 in October and through the summer. If rental rates continue to increase on these same trends and timelines, we could see some great opportunities for buy and hold investors to come in and start earning some decent monthly cash flow.
Learn More About Local Real Estate
Sheridan Technical High School might have some classes on how to learn the real estate market trends in your local area, so check with them to find out about how to enlist in these courses so that you can educate yourself on the local market, and what you can expect moving forward. There are also many online options for learning real estate these days, and you can take many courses on YouTube and other online sites where you can get monthly market reports along with investor knowledge so you can navigate the marketplace in a much smarter fashion.
Median Household Income Developments
The median household income in Ft. Lauderdale is $48,852 which is significantly lower than the average income of nearby town Davie which has a median household income of a whopping $63,112. Job growth seems to have continued to increase on an upward trend, so please feel free to consider expanding your knowledge and networking circles in order to find new business partners who may be able to fund your next deal, or partner with you on your next multi-family investment property.