Fort Lauderdale is known as the Venice of America because of its many inland waterways. This city has unrivaled ties to the water, from its waterfront properties to its many water-related activities. The Fort Lauderdale community has a reputation for being a great vacation spot with its beaches, music and great restaurants. Broward County receives more visitors every year.
Fort Lauderdale has more than 182,000 residents, making it a great place to live. Fort Lauderdale is part of the Miami community ‘s urban footprint. This means that it has easy access to many south Florida cities as well as numerous amenities within its city limits. Fort Lauderdale seems to have it all, from sunny warm sands to vibrant downtown nightlife.
Potential new residents should thoroughly research the area before they move in. Fort Lauderdale offers many options for residents, including condos and luxury properties. However, there are many factors that could affect whether or not the community is right for you. These are some things to remember before you move to Fort Lauderdale.
The cost of living in a city is one of the most important things to consider. What is the maximum amount a dollar can go? What impact will this have on the lifestyle of a potential resident?
Fort Lauderdale’s cost of living is 17.9% higher than the average U.S. city. This means that it can take almost $118 to buy the same goods and services in Fort Lauderdale as $100 in other areas. But, this extra cost is not evenly distributed. Groceries costs are 7.6% higher than in most areas. Only 3.5% more is charged for miscellaneous costs like clothing and repairs. Residents can save money in certain areas. Health care costs are 3.6% lower than the average and utility prices are 3.6% less.
New residents will experience the greatest changes in housing and transportation when compared to other communities. It may be 31% more expensive to move around the region, while residents may pay 36% more for housing. Fort Lauderdale’s median home price is between $250K and $350K. Compare this to the median home price in Fort Lauderdale, which is $230K.
Renting housing is often more expensive than renting. A studio apartment can be rented in the community for $930 per month, which is lower than the $820 national average. A one-bedroom apartment for rent may be $1,110. This is more affordable than the average in the Miami region at $1,270. A two-bedroom apartment might cost $1,410 per month. This is also less expensive than the $1,610 regional average. For those who require more space, four-bedroom rentals are available for $2,480. This is almost $700 less than the national average.
This post was written by a real estate expert from the Dotoli group. Josh Dotoli is Paramount Residences #1 Selling Realtor with nine sales in 2021, 3x more sales than any other Realtor selling in the building. The Paramount Residences enjoys a prime beach area location. It is a Ft. Lauderdale oceanfront condo located across from the beach. Interested in learning about Paramount Fort Lauderdale Prices? Contact us today!