Home Price Boom Along Brightline Train Route in Florida
The Brightline Effect
Since its completion in 2022, the Brightline has upended transport within car-mad Florida — helping both tourists connect between the state’s two most popular destinations, as well as turning locals into commuters between communities once thought far too far apart for daily journeys.
And canny real estate developers haven’t missed a beat with their investments.
Developers Weigh In
“The Brightline has been a game-changer for South Florida, creating seamless connectivity between key markets,” said Danielle Naftali, Executive Vice President, Naftali Group, whose pair of developments JEM Private Residences in Miami Worldcenter and Viceroy Residences Fort Lauderdale benefit from proximity to Brightline Stations. “Our projects are directly benefiting … from the ease of travel Brightline provides.”
JEM Private Residences Miami
The Numbers Add Up
The train cost a hefty $6.2 billion to complete, with all funds raised via the private-sector. Over 2.7 million riders traveled via Brightline in 2024 — a near 40% increase over 2023.
Brightline’s Impact on Real Estate
Having now secured the confidence of Florida travelers, the Brightline is also reflecting its economic glory on the Miami-area’s real estate market.
“As a cornerstone of downtown Miami’s growth and development, the Brightline has clearly become a significant asset,” said Ibrahim Fesli, executive board member of the Okan Group — whose 70-story Okan Tower is rising just one block from Miami’s Brightline Station.
Property Prices on the Rise
Indeed, property prices have risen not only along the Brightline’s route, but around its six train stations — Miami, Aventura, Fort Lauderdale, Boca Raton, West Palm Beach and Orlando. All of those areas are now emerging as major commercial centers.
Miami’s Brightline Hub
Miami’s Brightline hub, for instance, is set in the heart of the city’s downtown. It was one of the first to open, debuting in 2018 for service between Miami and Fort Lauderdale (the line to Orlando was completed in September 2023).
Resale Value Soars
According to local listings data, the area around Miami’s Brightline station has seen residential sales increase by 31.9% between 2018 and 2023, while the total resale value of area property surged by 131.4% during the same period — from $321.8 million in 2018 to $743.6 million in 2023.
Average Prices Rise
At 900 Biscayne Blvd. — just a block from the station — average prices have risen nearly 60% since the Brightline arrived.
Fort Lauderdale’s Brightline Station
About 45 minutes north, a similar effect has taken place in Fort Lauderdale in and around the city’s Brightline station. Total resale value there climbed by 51.4% from $214.2 million in 2018 to $324.2 million in 2023.
Condo Prices Jump
And similar to Miami, one-bedroom condo prices like those at Avenue of Lofts have seen a near 60% price jump.
Conclusion
The Brightline has been a game-changer for South Florida, creating seamless connectivity between key markets. With its impact on real estate, it’s no wonder property prices have risen along the train’s route and around its six stations.
FAQs
* What is the Brightline train route?
The Brightline train route connects Miami, Fort Lauderdale, and Orlando in Florida.
* How much did the Brightline cost to complete?
The Brightline cost $6.2 billion to complete.
* How many riders traveled via Brightline in 2024?
Over 2.7 million riders traveled via Brightline in 2024, a near 40% increase over 2023.
* What is the impact of the Brightline on real estate?
The Brightline has had a significant impact on real estate, with property prices rising along the train’s route and around its six stations.
* What is the total resale value of area property in Miami?
The total resale value of area property in Miami has surged by 131.4% between 2018 and 2023, from $321.8 million in 2018 to $743.6 million in 2023.
