Sometimes referred to as “the Venice of America,” Fort Lauderdale has become one of Florida’s most popular cities to live. From being a party city for high school and college students’ summer vacations in the ’80s, it has become much more family-friendly. In fact, it is also popular among crows with a penchant for the relaxed resort lifestyle.
Besides upscale dining and shopping opportunities, the city has a lot to offer. It has a web of picturesque canals, beaches, waterways, and suburban areas that enjoy more than 3,000 hours of sunlight every year.
Does this compel you to think about calling Fort Lauderdale your home? Are you wondering if the city is a suitable location for a real estate construction project? If yes, let’s have a look at some important information that might help you make the final decision.
Based on Sperling’s Best Places’ index, the average cost of living in Fort Lauderdale is 129.6. This is based on a scale where a score above 100 means that the cost of living in the city is more expensive than the US average. Most costs in Fort Lauderdale are marginally higher than the US-wide average.
One of the most attractive features about living in Fort Lauderdale is low tax rates. With the state’s sales tax rate being only 6%, you are able to save money. In addition to that, Florida is one of the 7 states that don’t have an income tax.
Much like in other parts of Florida, the fluctuating seasonal population in Fort Lauderdale has a huge impact on its economy. According to the US Census 2018 report , the average household brings in an income of $52,315. The per capita income is $39,601.
Also, around 19.3% of Fort Lauderdale residents live in poverty. The job market can be tough, but you can still find a stable source of income if you have a job waiting for you.
According to Zillow, the median home value in Fort Lauderdale is around $312,900. The current median price of houses listed for sale in Fort Lauderdale is $500,000, while the median price of sold homes is $334,200.
Broward County Public Schools is the second-largest school district in Florida. Fully accredited in the school system since 1963, it has 327 schools around the district, including Fort Lauderdale.
Besides that, there are also a number of great private schools you can choose from.
Unfortunately, as it is with other cities around the US, crime is a reality in Fort Lauderdale. However, it varies from neighborhood to neighborhood. On an index of 100 , the city’s violent crime rate ranks at 36.7 with a 22.7 average for the country. As for property crime, the city ranks at 75.8 against the US average of 35.4.
Despite these high crime rates, the city is home to a number of safe neighborhoods. Spend extra time while real estate shopping to make sure that you’re buying a house in a safe neighborhood.
According to the US Census Bureau, the mean commute time for Broward County is just over 28 minutes. This means that the average round trip in working hours would be less than an hour.
For some Fort Lauderdale residents, commuting around the city without a car is possible. They can access the Broward County Transit (BCT), which includes a fleet of 300 buses. They can also use the Brightline rail system, bike-sharing programs, the Tri-Rail, and Sun Trolley.
There is no shortage of leisure and entertainment in the city. There are many beaches where you can spend your weekends. Also, there are more than four thousand restaurants and 120 nightclubs.
If you prefer quieter outings, the NSU Art Museum, the Museum of Discovery and Science, and the Coral Springs Museum of Art are excellent places to spend your time.
Florida State Mortgage Group, Inc. is located on 1512 E Broward Blvd #204A, Fort Lauderdale. From Fort Lauderdale-Hollywood International Airport (FLL) head northwest toward Terminal Dr/Upper Terminal Dr and use the right 2 lanes to turn slightly right onto Terminal Dr/Upper Terminal Dr. Then use the left lane to keep right at the fork and follow signs for Departures and use the left lane to continue toward US-1 N. Next, keep left at the fork, follow signs for US-1 N/Ft Lauderdale and merge onto US-1 N. After that merge onto US-1 N and keep left to stay on US-1 N. Finally, turn right onto E Broward Blvd and Florida State Mortgage Group, Inc. will be on your right.
We are open Monday - Friday 9am - 6pm, Saturday - Sunday 10am - 4pm.
Florida State Mortgage Group, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.