Cost of Living in Fort Lauderdale, FL 2023

If you're planning on moving to Fort Lauderdale, FL in 2023 or just curious about the cost of living in the area, this guide has you covered. From rent prices to transportation costs, we'll take a deep dive into all that goes into making up the total cost of living in Fort Lauderdale.

Whether you're looking for an apartment rental by the beach or cheaper digs further inland, there are plenty of options to fit any budget — and we'll break down what each option looks like financially. We'll also cover other important aspects like utility expenses, grocery stores and health care costs so that when it comes time calculate your bottom line you have an idea of exactly what amenities come at what price tag.

Fort Lauderdale Housing Costs

Rent prices in Fort Lauderdale and other Miami metro areas are trending upward, following a period of decreased rates. According to our latest Rent Report, a one-bedroom apartment's median rent in Fort Lauderdale is $1,627, and a two-bedroom's is $1,984. These rates have increased by 2.0% YoY, which is lower than the state and national averages. Despite this, Fort Lauderdale is still more affordable than major Miami metro cities like Boca Raton and Miami.

Apart from rent prices, the Fort Lauderdale housing market is also experiencing steady growth. The median home price in Fort Lauderdale is currently $475,000, which is lower than other major Miami metro cities like Miami ($544,000) and Boca Raton ($599,900). This makes Fort Lauderdale an attractive location for those seeking a balance between affordability and living in a popular area.

Finding the Best Fort Lauderdale Apartment for You

If you're uncertain about a neighborhood, consider a month-to-month apartment before making a long-term 12 month commitment. If it's your first time renting or if you don't have a high credit score, consider no credit check apartments. Lastly, if you prefer to rent from the owner of an apartment and have a more personal relationship with them rather than property managers, consider a for rent by owner apartment.

Fort Lauderdale Transportation Costs

In Fort Lauderdale, there are several different options for public transportation, including:

• Amtrak
• Broward County Transit
• Brightline
• B-Cycle/AvMed Rides
• Carpool
• Riverwalk Water Trolley
• Community Shuttle (LauderGO)
• Tri-Rail
• Water Taxi

The walk score of Fort Lauderdale is 56, while the transit score is 38. While public transportation might not be the most reliable in the city, it does boast a bike score of 56. There are bike paths along the beach and bike lanes in the street, making biking around an option for those looking to opt-out of having a vehicle of their own.

If you're a single adult without children, you'll spend about $5,477 for transportation in Fort Lauderdale over a year. A family of four, including two working adults and two children, spends about $14,484 for transportation in one year. Thankfully, gasoline prices are around $3.50 per gallon, lower than the national average of $3.78.

Fort Lauderdale Food Costs

Fort Lauderdale has a diverse culinary scene with many famous dishes. It’s worth checking out some local favorites like the scallop risotto, sea bass, grouper, shrimp, and fish tacos.

Thankfully, dining out in Fort Lauderdale is relatively cheap with an average of $20 for a meal at an inexpensive restaurant. A three-course dinner for two people at a mid-range restaurant will run $80 without alcohol or dessert.

In Fort Lauderdale, single adults without children can expect to spend at least $3,926 on food per year. However, if you're a family of four with two working adults and two children, expect to pay $11,564 per year for food.

You can anticipate costs similar or slightly above the national average for food items purchased from the local Trader Joe’s, Whole Foods Market, or Publix Super Market. For example, one gallon of regular milk will run you $4.40 in the grocery store, while the national average is $3.87.

Fort Lauderdale Healthcare Costs

Your health should always be a top priority, regardless of where you call home. Understanding this healthcare is an additional cost worth noting when looking at the cost of living. Whether you have a medical condition requiring you to see them more regularly or simply plan to visit your doctor minimally, having medical insurance in Fort Lauderdale will help you manage your costs.

Additionally, health insurance helps you afford the care you need should any emergencies arise in your new hometown.

Account for proper medical care when planning your budget in Fort Lauderdale, as healthcare should always be considered an essential cost. A single adult without children will pay around $3,184 for medical care over the year. Two working adults with two children will pay $9,126.

Fort Lauderdale Utility Costs

The climate in Fort Lauderdale remains mellow throughout the year. The summers are long, hot, and wet, while the winters are windy, short, and mostly clear. The coldest month in Fort Lauderdale is in January, with an average overnight low of 62°. The hottest summer month is August, where the average daytime high is typically 89°.

Because the summers are humid and muggy, you'll need to account for higher utilities to keep comfortable. Fort Lauderdale’s basic utilities include electricity, heating, cooling, water, and garbage, running $138.95 for a 915-sq. ft. apartment. Adding on the Internet with 60 Mbps or more with unlimited data, cable/ADSL will cost you an extra $68.38 for a total of $207.33 each month.

These costs can quickly add up, which is why it’s a good idea to understand how much utilities will cost in an apartment before making your move. This information will allow you to budget accordingly for this often overlooked expense.

Fort Lauderdale Fitness and Entertainment

Fort Lauderdale has fitness and entertainment opportunities for everyone. However, considering the thick humidity, you might need to consider a local gym for workouts. You’ll want to consider club membership costs at Powerhouse Gym, The Fitness District, or Titan Gym, or others in the area. Thankfully, costs are relatively low, as a fitness club membership fee for one adult costs $44.16 monthly.

If you’re looking for some entertainment, you can purchase a seat at the local cinema for $13 without snacks or drinks. Otherwise, there are countless museums, arts, and entertainment spots throughout the city. Some of the favorites include the Coral Springs Museum of Arts of the Broward Center for the Performing Arts.

Other Expenses to Consider in Fort Lauderdale

Florida has no income tax, one of the many perks of living in this great state. The state has a 6.00% sales tax, and Broward County adds another 1.00% on top of that, making Fort Lauderdale’s sales tax rate 7.00%.

If you are moving from out of state, make sure to pay attention to additional costs that can add up, like cross-country movers, storage, hotels, and transportation. Cross country moves may also require even more fees, such as apartment application fees, security deposits, pet deposits, and other add-ons. Be aware of these extra costs so you can add them to your budget as needed.

Another overlooked expense to consider is furnishing your new apartment. Find tips on how to decorate your apartment on a budget to help keep you in line and avoid spending too much.

What Salary Do You Need to Live in Fort Lauderdale?

You can figure out your recommended salary if you know what type of lifestyle you plan to lead in Fort Lauderdale. The living wage in Fort Lauderdale is $18.44 per hour, which is the basic wage required to pay for essentials such as housing, food, and other necessities. Keep in mind that the living wage is based on life led pretty frugally and did not account for extra costs like dining out or entertainment.

You can also look at the average salary index in Fort Lauderdale, which is $70,000 per year, or roughly $19.65 per hour. However, according to the U.S. Census Bureau, the median household income is $66,994.

Remember that the living wage, average salary, and recommended salary are three different figures. You can use the 30% rule for rent to determine your recommended salary in Fort Lauderdale.

You should not spend more than one-third, or 30%, of your gross income on rent to live comfortably, according to the 30% rule. For example, if your rent is close to the median for a one-bedroom apartment in Fort Lauderdale and costs $1,627, your monthly wages should be at least $5,423.33 per month or $65,080 annually.

Job Market in Fort Lauderdale

Fort Lauderdale has a slightly less healthy job market compared to similar-sized metro areas. Some of the city’s largest employers include hospitals and healthcare systems, including SFN Group, AutoNation, and MEDNAX.

The unemployment rate in Fort Lauderdale is 2.7%, 0.9% below the current national average of 3.6%. Not surprisingly, this rate took a significant hit due to the pandemic. Thankfully, Fort Lauderdale is seeing a steady recovery as businesses open once again.

Final Thoughts

Fort Lauderdale is an ideal location for those looking to settle in a boater's paradise and live close to stunning beaches. Whether you're a young professional seeking a vibrant nightlife, a family looking for kid-friendly activities, or a retiree looking to relax and enjoy the sun, Fort Lauderdale has something for everyone.

To find your perfect home in Fort Lauderdale, start by registering with Apartment List today. You can browse through hundreds of available apartments for rent and filter them according to your budget, desired amenities, and location preferences.

FAQs: Cost of Living in Fort Lauderdale

How Expensive Is an Apartment in Fort Lauderdale?

A one-bedroom apartment in Fort Lauderdale costs $1,627. A two-bedroom apartment in Fort Lauderdale costs $1,984.

What Is the Cheapest Rent in Fort Lauderdale?

A one-bedroom apartment is the cheapest rent you can get in Fort Lauderdale, with the median rent sitting at $1,627. The average rent for a two-bedroom apartment in Fort Lauderdale is higher at $1,984.

How Expensive Is It to Live in Fort Lauderdale?

Living in Fort Lauderdale is becoming increasingly more expensive. In Fort Lauderdale, rent averages $1,450 for a 1 bedroom apartment. Transportation costs in Fort Lauderdale amount to $5,509 a year. Food costs $3,351 a year on average for a single resident of Fort Lauderdale.

How Far Is Fort Lauderdale from Miami?

Fort Lauderdale is 29 miles away from Miami. It takes 57 minutes to get to Miami from Fort Lauderdale by car, 3 hours by bike, and 10 hours by foot.

How Far Is Fort Lauderdale from Orlando?

Fort Lauderdale is 213.2 miles away from Orlando. It takes 3 hours and 13 minutes to get to Orlando from Fort Lauderdale by car, 20 hours by bike, and 69 hours by foot.

How Far Is Fort Lauderdale from Tampa?

Fort Lauderdale is 248.7 miles away from Tanpa. It takes 4 hours and 18 minutes to get to Tampa from Fort Lauderdale by car, 21 hours by bike, and 76 hours by foot.

What Is the Population of Fort Lauderdale?

According to the U.S. Census Bureau, the population of Fort Lauderdale is 181,668. It is the tenth-largest city in the state of Florida.

Is Fort Lauderdale Cheaper than Miami?

Fort Lauderdale is somewhat cheaper than Miami and rent prices are more stable. The median rent for a one-bedroom in Fort Lauderdale is $1,627, while a two-bedroom apartment in Fort Lauderdale sits at $1,984. The median rent for a one-bedroom in Miami is also currently $1,627 but a two-bedroom apartment sits at $2,156.