In Fort Lauderdale, $300,487 is what the median worth of a house is. House values have increased by 5.7 percent over the last year.
It is predicted that the value of homes will increase 3.3 percent in the following year. In Fort Lauderdale, the per square foot list cost median is $326. This is higher than the metro area of Fort Lauderdale’s average which is $218.
$491,500 is the median cost of houses listed presently in Fort Lauderdale. $356,700 is the median cost of houses that have sold.
$1,950 is the rent cost median in Fort Lauderdale. The rent cost median in the metro area of Miami-Fort Lauderdale is higher at $2,000.
With the cost of rents so high and home cost high, it’s very difficult for many people to enter the housing market, especially new home buyers. And there are couples who want to start a family, and they are having a rough time saving enough money to afford to buy a home.
It is so important for them to get on a savings plan, and stick to it to be able to get a home. It’s not easy for quite a few people who have an income that isn’t high, but having a stable house payment is for most people so much better than a rent cost that keeps going up.
Once a home buyer purchases their home, it’s so important for them to not miss a mortgage payment, because a missed mortgage payment is the first step of foreclosure. A missed mortgage payment is called a mortgage delinquency.
2.2 percent of homes in Fort Lauderdale have delinquent mortgages. The percent of homes on a nation-wide basis that have delinquent mortgages is lower at 1.6 percent.
From the most recent recession which started in 2008, home prices went down nationally by more than 20 percent. As a result of this recession, quite a few owners of houses are currently underwater when it comes to their home mortgages.
What does being underwater mean? It means that the homeowner owes a greater amount of money on their house than the value of their house. In Fort Lauderdale, there are 9.8 percent of underwater homeowners. The metro area of Miami-Fort Lauderdale has a higher number of houses underwater at 9.9 percent.
$48,898 is the median household income in Fort Lauderdale.