Florida’s real estate market is one of the most active in the country for real estate investors. In reality, the “Sunshine State”‘s growing real estate market makes it an excellent spot to invest in a short-term or long-term rental property – and you’ll have plenty of options!
Top Florida Markets for Real Estate Investors
Anywhere in Florida is currently a popular spot to buy real estate in the United States. However, you need be aware of the most active real estate markets in Florida so that you may get ahead of the competition by purchasing investment properties in these areas!
Orlando
Orlando is a popular holiday destination with numerous tourist attractions, including Walt Disney World, Universal Studios, and other theme parks. Orlando’s average home valuation is just shy of $375,000, making it one of the more reasonable places to buy property for first-time investors.
Orlando has had consistent population growth since 2010, with job growth predicted to exceed 50% over the next ten years and an unemployment rate of 2.9% (lower than the national average of nearly 4%). Furthermore, there are numerous options to get creative with Orlando rental property themes – for example, you can construct a property with a Harry Potter or Disney theme to entice potential guests!
Jacksonville
Jacksonville is a popular destination for real estate investors in Florida searching for long-term or short-term rentals, notably condos, townhomes, apartments, and multi-family homes. It’s a popular place to live and work, with several Fortune 500 corporations headquartered here. Still, it’s a terrific spot to visit, with attractions such as the Jacksonville Zoo and Gardens and Kathryn Abbey Hanna Park drawing visitors from all over the country.
While the median sale price of a property in Jacksonville is little more than $300,000, home values are fast increasing, with real estate prices jumping by more than 30% in the last year. Property values are expected to increase over the next decade, making Jacksonville an excellent choice for a first-time investor!
St. Petersburg
St. Petersburg is one of the most popular cities in the Florida real estate market. St. Petersburg, known as the “Sunshine City,” is a famous destination for golfing, boating, fishing, and beach activities, making it an attractive place to live and work. Additionally, attractions such as the Salvador Dali Museum and its closeness to Tampa make St. Petersburg a popular holiday destination.
St. Petersburg currently has a low housing inventory, resulting in a seller’s market. This is great news for home flippers who want to buy a home and sell it quickly. However, potential purchasers wishing to purchase a house in St. Petersburg and convert it into a holiday rental will most certainly experience a big return on investment.
Tallahassee
Tallahassee has a great real estate market in Florida for investment properties. Not only are home prices extremely low — the median sale price is just shy of $230,000 — but the city’s excellent educational system and proximity to Florida State University and Florida A&M University ensure that students are always looking for rental properties during the school year.
Tallahassee’s job market is predicted to rise by approximately 38% over the next 10 years, while the city’s population continues to grow. Buying a real estate investment in Tallahassee while prices are still low is wise; prices will rise before long!
Tampa
Tampa is not just one of Florida’s hottest home markets, but also one of the most desirable in the United States! Tampa boasts a thriving job market and numerous family-friendly attractions, such as Busch Gardens, the Florida Aquarium, and ZooTampa, making it an appealing area to live and visit on vacation. As a result, both short-term and long-term investment properties are a wise choice in Tampa, as both are in high demand!
Tampa’s typical property value is little over $415,000, making the initial expenditure to “get into” the rental market in Tampa slightly higher than in other Florida towns. However, there has never been a better moment to invest in Tampa real estate. Home values are rising at a nearly 35% annual pace, therefore your rental property will appreciate significantly.
Miami
Miami attracts millions of travelers each year for its stunning beaches, mild weather, and fantastic eating scene, making it a great location for an investment property, particularly a short-term holiday rental.
Miami’s median sale price for residences is more than $500,000, making it one of the most expensive cities to buy real estate in Florida. Nonetheless, housing values have increased by about 200% over the last decade and are expected to continue to rise, giving the Miami market an excellent investment opportunity!
Investors will be pleased to learn that Miami has relaxed rental restrictions, ensuring that renters enjoy a genuine return on investment. With this in mind, Miami is an excellent choice for purchasing condos, apartments, and other forms of holiday rentals.
