It’s important for real estate investors to conduct their due diligence before investing in any market. This means studying the market well; track any shift in housing market trends and keep tabs on the local market stats. Luckily, for property investors interested in the Fort Lauderdale real estate market, we’ve got you covered.
Why Invest in the Fort Lauderdale Real Estate Market
The real estate investing industry is all about the numbers and the facts (and knowing them as soon as possible). First, we’re going to cover the Fort Lauderdale real estate market trends so investors have an idea of the market’s current condition. Then, we’ll go into the specifics of where to invest using Mashvisor’s data.
Market Trends
- Inventory: We’re seeing a slow build of housing inventory in the Fort Lauderdale real estate market which hasn’t been the case for a few years now. Currently, the number of Fort Lauderdale homes for sale have significantly contributed to the rise in Boward County inventory to almost 15,000 properties. Inventory hasn’t been this high since March 2016, so it’s a good sign for buyers to make a move now.
- Property Value: According to Zillow, the median home value in the Fort Lauderdale housing market is $318,500. Fort Lauderdale investment properties might seem more attractive when you consider the fact that home values have gone up 7.0 percent over the past year and are expected to increase another 5.0 percent within the next year.
- Real Estate Appreciation: Fort Lauderdale is actually in the top 20 percent nationally for real estate appreciation (34.47 percent over the last ten years). This is another good sign for long-term investors in the Fort Lauderdale real estate market.
- Selling Price: Since last June, the average selling price of Fort Lauderdale houses has only gone down 2 percent, according to Allied Realty Group. So average selling prices are staying steady, with houses selling at $451,918 (as of January). Condos in the greater Fort Lauderdale real estate market, however, are selling at an average of $222,174 (which is a 16 percent drop).
Related: Florida Real Estate Market Trends of 2019: What to Expect
Is Airbnb Legal in Fort Lauderdale?
Before you start searching for Fort Lauderdale real estate rentals, you need to determine your rental strategy. Mashvisor’s data can quickly help you find where to buy rental property in Fort Lauderdale according to your strategy (traditional rentals or Airbnb rentals). Do you have questions about Mashvisor? Read our FAQs and learn about our tools. However, there’s another factor at play here- Airbnb regulations. Cities all across the country are questioning the extent of regulation required for Airbnb rentals after their surge in popularity. So what’s the deal with Airbnb Fort Lauderdale?
Fort Lauderdale allows short term rentals, but you need to comply with the city’s limited rules. There is an annual fee that needs to be paid which has already been lowered as an effort to motivate rental operators to go legal.
Related: Your Real Estate Investment Guide to Airbnb Rental Properties: Where Is Airbnb Legal?
Where to Invest in the Fort Lauderdale Real Estate Market
Now that we’ve covered the why, it’s time to cover the where. Using data from Mashvisor’s investment property calculator, we have determined the best neighborhoods in Fort Lauderdale for each rental strategy. Before we list those though, let’s take a look at Mashvisor’s summary of the general rental property performance in the Fort Lauderdale real estate market 2019.
Fort Lauderdale 2019- City Level Data
- Median Property Price: $667,885
- Price per Square Foot: $351
- Average Days on Market: 149
- Price to Rent Ratio: 21
- Monthly Traditional Rental Income: $2,671
- Traditional Cash on Cash Return: 1%
- Monthly Airbnb Rental Income: $3,032
- Airbnb Cash on Cash Return: 1%
- Airbnb Occupancy Rate: 53%
Investors can’t easily find profitable real estate investments solely based on city stats; real estate investing is a local industry and therefore, requires local stats. You need neighborhood data so you know exactly where to invest for what you’re looking for. For example, the city-level median property price in the Fort Lauderdale real estate market is pretty high, but finding cheap houses for sale in Fort Lauderdale won’t be hard if you know which neighborhoods to look in. So here are the best neighborhoods in the Fort Lauderdale real estate market 2019.
To learn more about how we will help you make faster and smarter real estate investment decisions, click here.
Related: What Kind of Neighborhood Has the Best Investment Properties?
Best Neighborhoods for Airbnb Rentals
Melrose Manors
- Median Property Price: $271,328
- Price per Square Foot: $159
- Average Days on Market: 61
- Price to Rent Ratio: 11
- Monthly Airbnb Rental Income: $3,646
- Airbnb Cash on Cash Return: 10%
- Airbnb Occupancy Rate: 55%
Oak River Homeowners
- Median Property Price: $399,999
- Price per Square Foot: $197
- Price to Rent Ratio: 21
- Monthly Airbnb Rental Income: $5,466
- Airbnb Cash on Cash Return: 10%
- Airbnb Occupancy Rate: 48%
Lauderdale Manors
- Median Property Price: $253,700
- Price per Square Foot: $167
- Average Days on Market: 102
- Price to Rent Ratio: 13
- Monthly Airbnb Rental Income: $3,308
- Airbnb Cash on Cash Return: 8%
- Airbnb Occupancy Rate: 61%
Melrose Park
- Median Property Price: $279,948
- Price per Square Foot: $159
- Average Days on Market: 12
- Price to Rent Ratio: 16
- Monthly Airbnb Rental Income: $3,577
- Airbnb Cash on Cash Return: 8%
- Airbnb Occupancy Rate: 65%
Related: Should You Invest in Short Term Rentals in Fort Lauderdale?
Best Neighborhoods for Traditional Rentals
Twin Lakes
- Median Property Price: $312,500
- Price per Square Foot: $242
- Average Days on Market: 86
- Price to Rent Ratio: 13
- Monthly Traditional Rental Income: $2,050
- Traditional Cash on Cash Return: 4%
Riverland Village
- Median Property Price: $295,975
- Price per Square Foot: $176
- Average Days on Market: 167
- Price to Rent Ratio: 11
- Monthly Traditional Rental Income: $2,240
- Traditional Cash on Cash Return: 4%
River Garden Sweeting Estate
- Median Property Price: $221,700
- Price per Square Foot: $170
- Average Days on Market: 41
- Price to Rent Ratio: 13
- Monthly Traditional Rental Income: $1,410
- Traditional Cash on Cash Return: 3%
River Run
- Median Property Price: $320,866
- Price per Square Foot: $234
- Average Days on Market: 86
- Price to Rent Ratio: 13
- Monthly Traditional Rental Income: $2,106
- Traditional Cash on Cash Return: 3%
Do you have a free Mashvisor account? Use our Property Finder to find lucrative investment properties in the Fort Lauderdale real estate market that match your criteria in a matter of minutes!
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