Average home price (2011): $200,500
Projected home price (2014): $189,200
Gross rent (2011): $1,090
Projected gross rent (2014): $1,195
Even though home prices in this pricey part of Florida are expected to fall further, rental rates are going strong.
Rents
in Fort Lauderdale average nearly $1,100 a month and are projected to increase by nearly 10% over the next three years, according to Local Market Monitor.
Like much of the state, Fort Lauderdale was severely overbuilt during the housing boom and the inventory overhang has depressed markets for years. That inventory will have to be worked through before the market will turn positive again.
Until then, real estate investors may want to rely on the expected 2.3% premium over the national average return for rental properties.
NEXT: Rochester, N.Y.
