Steady In-Migration Supporting Fort Lauderdale Housing Demand
Stable household formation and sound hiring lift demand for rental housing.Fort Lauderdale remains a popular destination for retirees because of its favorable tax and weather climate. The metro is one of the leading destinations for retirees 65 and older in the nation. Young professionals are also increasingly drawn to Broward County for its mix of major corporations including American Express, Citrix and AutoNation along with rental rates below those in Miami and West Palm Beach. Both the young adults and retirees are fueling rental demand as it offers flexibility, amenities and quality locations proximate to services. Renters are being drawn to rapidly transforming areas of the market like Flagler Village, which caters to millennials with trendy restaurants and nightlife while being a short distance to mass transit. Dania Beach is in the early stages of a major revitalization of its city center as well as Dania Pointe nears completion and other projects are in the works.
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