DowntownFTL's Residential Growth
January 31, 2023
Dive into how DowntownFTL's residential growth at ddaftl.org/residentialreport.
Outpacing Peer Cities
Compared to other hot sun belt cities, DowntownFTL is as dense, has an equivalent supply of rental units and is building new high rises just as quickly.
DowntownFTL’s supply of rental units (10,662) is closing in on Downtown Miami (12,020).
DowntownFTL has over four times the supply of rental units compared to Downtown West Palm Beach (2,551).
DowntownFTL has built more rental units (5,095) over the past 5 years than Downtown Austin (1,731) and Downtown Atlanta (1,667) combined.
Downtown FTL has more rental units than both Downtown Austin (9,447) and Downtown Nashville (10,200).
Residential density in DowntownFTL is equivalent to Downtown Austin (11K per square mile) and greater than the downtowns in Atlanta (10K per square mile) and Nashville (8K per square mile).
Reaching New Heights
New high-rise projects are remaking the DowntownFTL skyline, bringing the city to new heights, creating the density needed to sustain a vibrant, walkable, and connected downtown.
Over 40 residential developments planned, with 27 projected to soar 30 stories or higher.
About 40% of planned buildings are led by world renowned developers from outside of Florida, elevating the profile of Fort Lauderdale.
50% of all planned projects are in Flagler Village, DowntownFTL’s fastest growing neighborhood. Flagler Village has seen a 107% increase in residents since 2010 and has nearly 7K total residents.
Long an established market for multi-family rental units, DowntownFTL's residential real estate market is evolving as developers are increasingly planning major condo projects. The majority of DowntownFTL condo building were built between 2001 and 2007 and today 6 additional condo projects are on the books.
Plans are underway to increase the supply of DowntownFTL condo buildings by 50%, adding over 600 new condo units, representing a 6X increase in the number of condo buildings planned or built from 2008 to 2020.
3 out of 4 condo projects built or planned since 2020 are 25+ stories tall.
DowntownFTL has seen more than $400 Million in condo sales at values over $1 Million since 2020.