The “Venice of America,” Ft. Lauderdale has pristine beaches and a sunny climate. With less congestion than its neighbor city to the south – Miami – Ft. Lauderdale is a premier destination for individuals looking for a first or second home. For individuals interested in catering to persons who come to the city for a short term, Ft. Lauderdale Condo Rentals are a great choice for an investment property or as a leisure getaway.
For buyers who purchase Ft. Lauderdale Condos for Sale for investment purposes or individuals who will be in Ft. Lauderdale for awhile, there are approximately 11 hundred condos for rent in the Ft. Lauderdale Condo Rentals market. Currently, the average Ft. Lauderdale Condo Rentals and other similar type units rent around $24 hundred, while the median rent price is around $16 hundred dollars. This translates to an average rent per square feet of approximately $1.46, and breaks down among studio, one bedroom, two bedrooms, three bedrooms, and four bedrooms as follows.
Currently, the average studio in the Ft. Lauderdale Condo Rentals market rents just under $900 a month, while the median rent price is just under $800. This translates to an average rent per square feet of approximately $1.82. In comparison, at the beginning of 2011, market rents were just under $800 with a median rent price just under $700 and average square feet of approximately $1.57. There were around 25 studio condos in the Ft. Lauderdale Condo Rentals market at the beginning of 2011 compared to almost 35 studio condos now.
Currently, the average one bedroom in the Ft. Lauderdale Condo Rentals market rents just over $1100 a month, while the median rent price is around $950. This translates to an average rent per square feet of approximately $1.44. In comparison, at the beginning of 2011, market rents were slightly more than $1100 a month with a median rent price just under $900 and average square feet of approximately $1.47. There were around 250 one bedroom condos in the Ft. Lauderdale Condo Rentals market at the beginning of 2011 compared to almost 300 one bedroom condos now.
Currently, the average two bedroom condo in the Ft. Lauderdale Condo Rentals market rents just under $1900 a month, while the median rent price is around $1550. This translates to an average rent per square feet of approximately $1.40. In comparison, at the beginning of 2011, market rent and square foot prices were similar. While the highest number of two bedroom properties available occurred in March 2011 – 450 – April and February 2011 have similar numbers with approximately 430 and 400 properties respectively.
Currently, the average three bedroom condos in the Ft. Lauderdale Condo Rentals market rents just over $3200 a month, while the median rent price is around $2900. This translates to an average rent per square feet of approximately $1.51 for the approximately 220 two bedroom condos in the Ft. Lauderdale Condo Rentals market. These second quarter numbers are quite similar to the numbers at the beginning of 2011.
Currently, the average four bedroom apartment in the Ft. Lauderdale Condo Rentals market rents just under $76 hundred a month, while the median rent price is around $5500. This translates to an average rent per square feet of approximately $1.65. In comparison, at the beginning of 2011, market rents were slightly more than $78 hundred a month with a median rent price around $6 thousand and average square feet of approximately $1.66. There were around 85 four bedroom condos in the Ft. Lauderdale Condo Rentals market at the beginning of 2011 and currently.
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