Do you have plans to start or expand your investment portfolio in Florida soon? Whether you are just starting out in the industry or looking to diversify your asset holdings, there are a number of exciting and profitable areas across the Sunshine State to explore. Real estate investing can be a great approach to boost passive income and earn yourself financial freedom—especially when doing so in one of the hottest and most rewarding real estate markets in the entire country. Here’s an overview of some of the best local markets in Florida to up your real estate investment earnings over the next few months.
This dynamic city plays host to Walt Disney World, Epcot, Universal Studios, and a whole host of additional tourist destinations. Often referenced as “The City Beautiful” and the “Theme Park Capital of the World”, this key U.S. metropolis is a prime location for residents of all ages and backgrounds. Orlando has seen over a 15% rise in population since 2010, a 4% increase in employment rates, and boasts an unemployment rate of just 2.9%--which is well below the national average of 3.9%.
Furthermore, the number of jobs is anticipated to increase by a staggering 51% over the next decade, which once again beats the country’s average predicted employment growth of 33.5%. Based on statistical data compiled by Zillow, the current median home price is $241,200, an increase of nearly 7% in less than a year. Home values are projected to increase by 3% over 2021, making now a great time to acquire real estate in Orlando. Rent prices have also increased, with the average Orlando tenant paying $1,600 monthly. Some of the best neighborhoods for investors to focus their attention on include Rose Isle, Rowena Gardens, Uptown, Park Lake, and Audubon Park.
The state capital of Florida is also one of the state’s most attractive locations to call home, with a wide variety of cultural attractions, amenities, and entertainment venues. The city’s population has consistently increased, having grown almost 7% over the last ten years. Further, the city has experienced a 2.8% rise in employment since 2020, with a 37.9% anticipated growth over the next decade.
The current market dynamics in Tallahassee are also very encouraging from an investment perspective. The average home value has risen by 6.9% over the past 12 months to $183,400 and these averages are only expected to increase by an additional 2.8 percent by the close of the year. The median home price is at $225,000 and the average selling price is $189,100—meaning that fix and flip investors can expect to turn a healthy profit when selling renovated properties. Prospective investors in the Tallahassee area should be on the lookout for property in the top-rated neighborhoods of Midtown, Levy Park, Southwood, and Betton Hills to discover some of the hottest market options.
This beautiful Florida community is a prime spot for businesses, cultural centers, and entertainment options. With a broad range of outdoor attractions such as beaches and trails, this picturesque urban center sports the ideal combination of nightlife and laid-back seaside living all in one breathtaking package.
The population of Jacksonville is constantly growing, with a 6.3% increase since 2010. The number of job openings has also spiked 2.9% in the past year and is expected by industry experts to increase another 44.4% in the next decade. The market dynamics are also very favorable right now, particularly for sellers and property owners. The median home value has jumped by 8% to $177,500 in the last year. Prime locations in Jacksonville for investors to check out include Beach Haven, Bayard, Greenland, Deerwood, and Deercreek.
Florida Real Estate Market: Top Cities to Invest In | Gauntlet Funding – Melville, NY