Salary to live comfortably in Fort Lauderdale (Jacksonville, Miami: top neighborhoods, homes)

[floridarebel]

Likely 60 grand or more, if you're a single guy. Housing is what's really expensive and the insurance. With a family of 2-4 kids, it's way more expensive. Ft. Lauderdale has a lot of wealthy and lots of poorer people at the same time. Not really much in the middle, better than Miami though.

[redboat961]

Originally Posted by floridarebel

Likely 60 grand or more, if you're a single guy. Housing is what's really expensive and the insurance. With a family of 2-4 kids, it's way more expensive. Ft. Lauderdale has a lot of wealthy and lots of poorer people at the same time. Not really much in the middle, better than Miami though.

Homeowners insurance or car insurance?

[goolsbyjazz]

Originally Posted by berger12345

Yep I’m one of those *******s that just moved to Broward from out of state(Utah) 5 months ago. It was truly difficult to find a house to buy here and the rental market is definitely crazy. It’s not cheap to live here, but we did find jobs with reasonably good salaries here which is nice. I think one of the main issues here is that in general salaries aren’t keeping up with the price of housing.

Hey berger, how do you like living in Florida compared to Utah? My daughter lives in Salt Lake City and is looking to possibly move.

[kidyankee764]

Originally Posted by redboat961

Homeowners insurance or car insurance?

Both are high, but homeowners insurance will be significantly higher than almost anywhere in the US. Car insurance just slightly higher.

[Opt_10]

Originally Posted by redboat961

Yea I just found this. It isn't the same thing you are referencing, since the rents are all lower, but says rents are up 17% in the last year. I was talking to some locals in a pub a couple weeks ago, and they said that the area has become much more expensive in the last few years, and there are far more out of state plates now. He thought living here has become much more fashionable which has driven prices up. I imagine the big spike this year is from people with geographic flexibility deciding to move to SoFl.

https://www.rentcafe.com/average-ren...rt-lauderdale/

Interesting. I still think the home prices are cheaper compared to southern california. It's crazy here. A one bed room condo (640 sq ft) in San Diego proper is about $400,000. How does Ft Lauderdale compare? Isn't it cheaper than miami or CA?

[redboat961]

Originally Posted by floridarebel

Likely 60 grand or more, if you're a single guy. Housing is what's really expensive and the insurance. With a family of 2-4 kids, it's way more expensive. Ft. Lauderdale has a lot of wealthy and lots of poorer people at the same time. Not really much in the middle, better than Miami though.

Why do you feel it is only 60 whereas others are thinking 100+?

[kidyankee764]

Originally Posted by Opt_10

Interesting. I still think the home prices are cheaper compared to southern california. It's crazy here. A one bed room condo (640 sq ft) in San Diego proper is about $400,000. How does Ft Lauderdale compare? Isn't it cheaper than miami or CA?

Eh, in 2021, south Florida (especially Miami) is not much cheaper than San Diego, but also not as expensive. Median rents are now over 3k. Median home prices last month are approaching the 600s. Greater south Florida prices rose a staggering 32% YOY. San Diego metro, last I read, was just around 700 with only a 13% YOY increase. Not a huge difference, as both have become prohibitively expensive.

The concern is SFL increases are double the increases seen in LA and San Diego, so if the pace of all three metros continue as is, by 2023, SFL prices can top both. That’s not good news for the working class.

Re out of state plates, the family who just purchased our investment home near Fort Lauderdale are from Seal Beach, California. All the neighbors are newcomers from New York. The migration patterns we’re witnessing is wild.

[redboat961]

Originally Posted by kidyankee764

Eh, in 2021, south Florida (especially Miami) is not much cheaper than San Diego, but also not as expensive. Median rents are now over 3k. Median home prices last month are approaching the 600s. Greater south Florida prices rose a staggering 32% YOY. San Diego metro, last I read, was just around 700 with only a 13% YOY increase. Not a huge difference, as both have become prohibitively expensive.

The concern is SFL increases are double the increases seen in LA and San Diego, so if the pace of all three metros continue as is, by 2023, SFL prices can top both. That’s not good news for the working class.

Re out of state plates, the family who just purchased our investment home near Fort Lauderdale are from Seal Beach, California. All the neighbors are newcomers from New York. The migration patterns we’re witnessing is wild.

Are there reasons why it might level off and not just continue increasing? I feel like it is increasing everywhere, eventually it has to stop or am I wrong

[Opt_10]

Originally Posted by kidyankee764

Eh, in 2021, south Florida (especially Miami) is not much cheaper than San Diego, but also not as expensive. Median rents are now over 3k. Median home prices last month are approaching the 600s. Greater south Florida prices rose a staggering 32% YOY. San Diego metro, last I read, was just around 700 with only a 13% YOY increase. Not a huge difference, as both have become prohibitively expensive.

The concern is SFL increases are double the increases seen in LA and San Diego, so if the pace of all three metros continue as is, by 2023, SFL prices can top both. That’s not good news for the working class.

Re out of state plates, the family who just purchased our investment home near Fort Lauderdale are from Seal Beach, California. All the neighbors are newcomers from New York. The migration patterns we’re witnessing is wild.

This is interesting. I was comparing SD and Ft lauderdale home prices on Zillow for similar size/type condos (one bedroom/two bedroom) and found Ft lauderdale to be a lot cheaper than SD. I don't know about miami since I am not planning on moving there. I think the rentals may be some what similar to SD though. I think with the pandemic and remote work SoFL real estate market is getting more expensive.

[kidyankee764]

Originally Posted by Opt_10

This is interesting. I was comparing SD and Ft lauderdale home prices on Zillow for similar size/type condos (one bedroom/two bedroom) and found Ft lauderdale to be a lot cheaper than SD. I don't know about miami since I am not planning on moving there. I think the rentals may be some what similar to SD though. I think with the pandemic and remote work SoFL real estate market is getting more expensive.

Yeah, it seems on average homes are 100k cheaper in FLL than greater SD. A dated ranch these days in FLL is going for 600-700, and in SD, they seem to go for about 800. Obviously in nicer neighborhoods, both are pushing (or well over) 1m.