Downtown Fort Lauderdale Generates $43 Billion in Economic Output, an Almost 50% Bump Since 2019

Key Points

• Downtown Fort Lauderdale now generates about $43 billion annually in economic output, a 44% increase since 2019.

• That figure exceeds Port Everglades’ $28.1 billion output in 2024 and possibly even the local international airport.

• Economic strength is being driven by finance, health care, and real estate—rather than tourism or government.

Downtown Fort Lauderdale is no longer just a regional hub—it’s now a leading economic force in South Florida. A new study pegs the neighborhood's annual economic impact at $43 billion, eclipsing even the region’s port and potentially its international airport, as reported by WLRN.

What’s Driving the Surge in Downtown’s Economic Output

A new economic impact study commissioned by the Downtown Development Authority and led by local valuation expert Walter Duke reveals downtown Fort Lauderdale’s economic output has reached $43 billion annually. That’s up 44% from the pre-COVID benchmark in 2019.

Unlike other South Florida markets, Fort Lauderdale’s downtown is not being driven by hospitality or tourism. Instead, the primary growth sectors are finance, health care, and real estate. Government employment remains modest, accounting for roughly 1 in 14 jobs downtown.

The study credits the concentration of businesses and institutions within a compact 2.2-square-mile footprint, as well as the area's close proximity to Port Everglades and the Fort Lauderdale-Hollywood International Airport.

Comparison with Port Everglades and the Airport

Port Everglades produced $28.1 billion in economic output in fiscal year 2024. That was a 13% drop from 2019, attributed mainly to a decline in employment by companies using the port for cargo operations.

Though an updated airport economic study has not been released, the implication is that downtown Fort Lauderdale now eclipses both the port and the airport in annual impact.

This makes the downtown corridor one of the most productive zones in Broward County, if not the entire state.

Residential Real Estate and Workforce Trends

The shift from an office-dominated landscape to one built around mixed-use multifamily development has helped fuel this economic growth.

Thousands of apartments and condominiums have been added in recent years, attracting a younger, more professional workforce that increasingly lives where it works. Today, most downtown buildings are residential rather than commercial.

RentCafe recently ranked Fort Lauderdale as the most in-demand city for renters in Florida and 20th nationally. Average monthly rent is around $2,700.

Meanwhile, the condo market has grown more expensive even as sales volume declines. Median condo prices hit $755,000 in Q2 2025, up 10% year-over-year, while transactions dropped 30%.

Attracting young professionals is a positive signal, but long-term planning will need to address affordability and school access as more families settle in the area.

Infrastructure and Climate Challenges

While downtown’s rise is impressive, it comes with growing pains. In 2020, Fort Lauderdale experienced a series of sewer line failures, including the state’s largest-ever sewage spill. Water rates have since increased to fund infrastructure upgrades.

Flooding remains a major risk, with roughly 91% of downtown properties exposed to some level of flood threat. A slow-moving storm in April 2023 dropped 20 inches of rain near the airport, underscoring the city’s vulnerability.

There’s also a level of political uncertainty. Governor Ron DeSantis has launched a financial audit of local governments, starting with Fort Lauderdale and Broward County. The impact of that scrutiny remains unclear but could affect funding and future development policies.

An Economic Engine

Downtown Fort Lauderdale has evolved into an economic engine that now outpaces the region’s traditional logistical hubs. Real estate—especially multifamily housing—has underpinned much of that growth, along with an influx of professional services. However, challenges around infrastructure, affordability, and political stability may shape the next phase of its transformation.