Hottest Real Estate Markets in Florida
Florida’s real estate market is one of the hottest in the country for real estate investors. In fact, the thriving real estate market in the “Sunshine State” makes it a great place to purchase a short-term or long-term rental as an investment property — and you’ll have no shortage of locations to choose from!
Top Florida Markets for Real Estate Investors
Anywhere in Florida is a popular place to purchase real estate in the United States right now. However, you should be aware of the hottest real estate markets in Florida so you can get ahead of the game by purchasing investment properties in these cities!
Orlando is a popular vacation destination filled with tourist attractions, like Walt Disney World, Universal Studios, and other theme parks. The average home value in Orlando is just shy of $375,000, making it one of the more affordable places to purchase property for first-time real estate investors.
Orlando has seen steady population growth since 2010, a projected job growth of over 50% in the next ten years, and an unemployment rate of 2.9% (lower than the national average of nearly 4%). Plus, there are many opportunities to get creative with themes for rental properties in Orlando — you can create a property with a Harry Potter or Disney theme to attract potential guests!
Jacksonville is one of the top cities for real estate investors in Florida looking at long-term or short-term rentals — particularly condos, townhomes, apartments, and multi-family housing. It’s a popular place to live and work, with several Fortune 500 companies calling the city home. Still, it’s also a great place to visit, with attractions like the Jacksonville Zoo and Gardens and Kathryn Abbey Hanna Park attracting tourists across the country.
While the median sale price of a home in Jacksonville is just over $300,000, home values are rising rapidly, with over a 30% increase in real estate prices this past year. Property values are projected to skyrocket over the next decade, making Jacksonville a great place to buy for a first-time investor!
St. Petersburg is one of the hottest cities in the Florida real estate market. Nicknamed the “Sunshine City,” St. Petersburg is a popular place for golfing, boating, fishing, and hanging out at the beach, making it a desirable place to live and work. Additionally, attractions like the Salvador Dali Museum and proximity to Tampa make St. Petersburg a popular spot for a vacation.
St. Petersburg currently has a low housing inventory, making the housing market a seller’s market. This is excellent news for home flippers looking to purchase a home and make a quick sale. Still, potential buyers looking to buy a property and turn it into a vacation rental in St. Petersburg will likely see a significant return on investment as well.
Tallahassee has an excellent real estate market in Florida for investment properties. Not only are home prices extremely affordable — the median sale price is just shy of $230,000 — but the city’s excellent education system and proximity to Florida State University and Florida A&M University guarantee that there will always be students searching for rental properties during the school year.
The job market in Tallahassee is expected to grow nearly 38% over the next ten years, and the city’s population is continuing to increase, too. Purchasing a real estate investment in Tallahassee while prices are still affordable is smart — prices will increase before too long!
Tampa isn’t just one of the hottest housing markets in Florida — it’s one of the most desirable markets in the United States! Tampa has a booming job market and plenty of family-friendly activities, including Busch Gardens, the Florida Aquarium, and ZooTampa, making it an attractive place to live and visit on vacation. Because of this, both short-term and long-term investment properties are a smart move in Tampa — both are in high demand!
The median home value for properties in Tampa is just over $415,000, making the initial investment to “get into” the rental market in Tampa a bit steeper than other Florida cities. However, there isn’t a better time to buy property in Tampa than right now. Home prices are rising at a rapid rate of nearly 35%, so you can expect exceptional appreciation from your rental property.
Miami attracts millions of tourists annually for its beautiful beaches, warm weather, and fabulous dining scene, making it the ideal location for an investment property — especially a short-term vacation rental. The median sale price for homes in Miami is over $500,000, so it’s one of the most expensive places to buy real estate in Florida. Still, home values have appreciated nearly 200% over the past decade and are projected to continue to increase, making the Miami market a great spot for an investment property!
Investors will be happy to discover that Miami has relaxed rental laws to guarantee that renters receive a real return on investment. With this in mind, Miami is a great spot to purchase condos, apartments, and other types of vacation rentals.
Your Real Estate Investment with THE STAGING COMPANY
From Orlando and Tampa to Jacksonville and Tallahassee, there are several fabulous places to purchase property in Florida — and you can quickly start generating a profit from your investment after it is converted into a short-term or long-term rental!
After purchasing your property in Florida, turn to THE STAGING COMPANY to help with vacation rental furnishing in Tampa, Orlando, and other popular cities. We can help create instant appeal with attractive furniture and decor — keeping your rentals booked at all times of the year. Contact us to request a no-hassle quote!