Saturday, October 17, 2015

Looking for apartment or office space in south Florida? Lake Worth is the Place To Be*

One of The Palm Beach Post's expert sources for information about the little City of Lake Worth is the website NeighborhoodScout. Here is what that site has about one neighborhood in the City: N Lakeside Drive/Lucerne Avenue. I didn't know there was even such a neighborhood by that name but if they say there is then it must be true. You'll be surprised to learn this about that neighborhood:
     The average rental price in N Lakeside Dr / Lucerne Ave is currently $1,087, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.3% of Florida neighborhoods. [emphasis added]
     N Lakeside Dr / Lucerne Ave is a suburban neighborhood (based on population density) located in Lake Worth, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
     N Lakeside Dr / Lucerne Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the N Lakeside Dr / Lucerne Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
     Vacant apartments or homes are a major fact of life in N Lakeside Dr / Lucerne Ave. The current real estate vacancy rate here is 28.3%. This is higher than the rate of vacancies in 93.2% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
If you live in Florida or plan to relocate here after hearing the news another terrible Winter is coming, then contact a realtor in Lake Worth and make inquiries. You can learn more about Lake Worth here and here. Good luck!
*Cannot vouch for the accuracy of the source; but if it's a trusted source for The Palm Beach Post then that's good enough for me.