Believe it or not, Florida was one of the top five states for housing appreciation in 2021.
With its booming economy, gorgeous climate, and exciting atmosphere, it's no wonder folks are moving to the sunshine state from all over the country. This is especially true in areas like Fort Lauderdale, which is known for its low cost of living and active community.
If you're an investor or homebuyer, you may be hopeful that purchasing a home in Florida now will result in big gains. But what is the Fort Lauderdale real estate market expected to do in 2022? Which Fort Lauderdale real estate market predictions should you be aware of?
Here's what you need to know.
Fort Lauderdale Real Estate Market Trends
There's no need to worry about housing prices dropping off in 2022. In fact, they are expected to continue to grow by 11%.
Interest rates may increase slightly, which means buyers could be a little more cautious. Yet it could also indicate that we are not in a bubble.
Florida is expected to continue being a seller's market in the year ahead, and the demand for homes will remain high. This is due in part to its favorable tax policies. In fact, Florida is one of the nine states in the country that don't have an income tax.
A number of tech companies are moving to the Fort Lauderdale area, and it continues to attract those who are working from home and can live anywhere in the country. It also continues to enjoy lower housing prices than many northern states, as well as a reasonable cost of living.
Why Fort Lauderdale?
The climate in Fort Lauderdale is very favorable. Winters are short, mild, and comfortable, which is a welcome break to those from colder areas.
The Fort Lauderdale area supports an active lifestyle, with beautiful beaches and plenty of opportunities to walk, kayak, or swim. You'll also enjoy some beautiful state parks with excellent views of the water.
Fort Lauderdale is a quick 25-minute drive to Miami and is currently benefiting from many new employment opportunities. Experts are expecting jobs to continue to rise at an impressive rate over the next ten years.
Fort Lauderdale schools are highly ranked and the area is safe. Families can also enjoy museums, art galleries, and libraries.
If you're an investor looking to purchase in the neighborhood, you can't go wrong with single-family homes and apartments. Plenty of young professionals and families are moving to the area to check it out before they are ready to buy.
If you want to invest in the booming Fort Lauderdale market but aren't ready to move to the area, be sure to find a reputable property management company in the neighborhood. They can help with things like rent collection and maintenance, and you can be confident that your investment is in good hands.
Exciting Trends in Fort Lauderdale
The Fort Lauderdale real estate market is enjoying exciting growth and job opportunities. If you're serious about making a quality investment, you've got to check out Florida.
Don't stop getting smart about Fort Lauderdale real estate investing now. For help with property management services, contact us today.