Making real estate investments are profitable, but it needs research and skills. Without having appropriate knowledge, you might end up incurring huge losses.
Florida is not only popular for its laid-back lifestyle, pleasant weather, and good nightlife but also for its real estate investments. If you are looking for the best real estate markets in Florida, you have come to the right place.
Florida’s real estate market has reached an all-time high since it recovered from the pandemic. And it will continue to rise in the coming years. Now is the right time to invest in the top real estate markets in the city sunshine. The blog will put light on the top 5 best real estate investment markets in Florida. Keep reading to fetch yourself all the answers.
Orlando – Orlando is termed a magical city. Do you know why? It is the home to Walt Disney and Universal Studios. Since 2010, the city has seen a nearly 15% increase in the population and a 4% increase in jobs. What’s more? The job growth is predicted to increase by more than half, approximately 51%, in the next ten years. Home values are rising in the city and will continue to rise. Rent prices have increased, and investors can think of investing in the properties of Orlando, including Rose Isle, Uptown, and Audubon Park.
The pleasant weather and low cost of living are the two most important factors that drive the investment. In fact, US News has said that there will be more long-term tenants coming to the city, which could prove to be an added advantage for you.
Pensacola – Investing in the properties in this pitch-perfect waterfront city is like a dream come true for many people. The city is filled with vibrant entertainment, beauty on the beaches, and many things. The population of the city has dropped down a bit in the passage of the last nine years. But this has no effect on the job market. You would be surprised to know that the job market has kept up well with its growth and will continue to do so over the next decade by 42%. The unemployment rate here is also lower than the US’s average, which is nearly 3%.
Pensacola is witnessing an extremely hot growth in terms of home value, with an increase of 10% in the last year, making the value approximately 145,800 US Dollars. Additionally, the home values will increase by yet another 6% in the next year, as said by the experts. 229000 US Dollars is the median listing home price, and 165400 US Dollars is the median closing price. Looking to invest in Pensacola? Start researching the properties in Bayou Boulevard, Bohemia, Gulf Beach Heights, and Perdido Key.
Jacksonville – If you ask us where is the hub of entertainment, businesses, and cultural attractions, we would answer Jacksonville in Florida city without a second thought. The city is filled with outdoor attractions like swimming and surfing. You will experience stunning beach life, including the best overall living experience here. The population here is continuing to rise, with an increase of nearly 7% since 2010. The job market will see a growth of 45% over the next decade.
The real estate market here is currently a boon for investors and property owners. Moreover, various Fortune 500 companies have their headquarters in Jacksonville. Even the famous Forbes magazine has ranked Jacksonville as the 22nd best place for careers and business and named it as one of the best places in America for job growth. You will get the best real estate deals here if we talk about Florida. Living cost is low, and the housing process is more affordable.
Miami – The list of best investment markets in Florida cannot be complete without the mention of Miami. The city is thriving in terms of retail, technology, and finance. Many technology and finance companies are deciding to open their branches in Miami. What could be the reason? The answer is relaxation in the COVID-19 policies.
The city is on the path to becoming the crypto center of the land of liberty. In addition to the real estate, you can also consider buying residential real estate property here to get the best returns.
A good example includes modern condominiums on a 20-acre gated private island a few minutes from the mainland Coconut Grove. Enjoy a condo experience with great amenities and the conveniences usually found in bigger properties. You can check out Chatburn Living and other trusted online sources for great property listings in Miami.
Miami’s metropolitan area is Florida’s largest urban economy in the United States, with a gross domestic product (GDP) of US$344.9 billion in 2017. According to a study by the UBS Group AG (an international bank), it is the country’s second-richest city and the third-richest place in terms of purchasing power.
In addition, Miami’s downtown area is the home of many international banks and multinational companies, which means more business, investment, and job opportunities.
It is also known as the ‘Gateway to Latin America’ due to its cultural and commercial partnerships with the region. These are all great reasons to make the move there.
St. Petersburg – Sunshine, pleasant weather, beaches, golfing and fishing amenities, and the list continues. St. Petersburg is recognized for its hustle-bustle art and culture. Popular recreational activities include – golfing, beach-going, and boating.
St. Petersburg hosts many different industries, tourism being one of its most robust. The place also has MacDill Air Force Base, a focal point for military contractors employing thousands of people.
Because the rental supply in St. Petersburg isn’t growing, the rates remain dynamic. Owning an existing rental property can provide a lucrative investment for the coming years.
The population growth has been 4.2% over the past nine years, and the number of jobs is expected to grow by 42% in the next decade. The current state of the real estate market here is neutral. The popular neighborhoods include Eden Isles, Snell Isle, University Park, and Euclid/St. Paul.
To make a long story short.
Believe it or not, it takes thorough research to make any investment decision. You can also get in touch with reliable real estate agents. So, make the best choice by taking the aforementioned information into account and getting useful advice from the agents.
