Buying an investment property can be a rewarding process. However, as with any other business venture, you need to know where to invest your money in the short or long term to maximize your return on an investment property.
Despite high home prices, the increased demand in Florida’s real estate market makes it one of the most profitable real estate investment locations in the U.S.
This article examines the Florida real estate market for different types of investors, investment properties, and the various places to buy real estate.
Realtors in Ocala, FL, will help you navigate the nuances of buying an investment property so that you can purchase a fantastic property at the best possible value.
Here are the most popular and profitable places to invest in real estate in Florida:
- Miami: Ideal for long and short-term rentals
- Orlando Metro: Ideal for traditional investors
- Clearwater: Perfect for an Airbnb property
- Fort Lauderdale: Lots of real estate options at bargain prices
- Jacksonville: Ideal for investors on a tight budget
- Tampa: There are many options for different properties. The market is suitable for those who invest for the first time and have no experience.
- Orlando Sub Markets: This real estate market is perfect for flip investors
- Regions of Tampa: This market suits investors looking for attractive multifamily homes
Having read the list of real estate agents in Florida, you can find qualified real estate agents focused on meeting investors’ needs.
Licensed real estate agents have completed hundreds of transactions for short and long-term investors across the country.
Make an appointment with a Florida real estate agent to discuss all your home-buying requirements and wishes.
Miami: A Real Estate Market That Offers Plenty Of Options For Long-term And Short-term Rentals
Not only is Miami famous for its spectacular and world-famous beaches and mild climate, but Miami is also a booming real estate market that offers investors many opportunities with a variety of housing options.
The region is visited by many tourists, which significantly increases the demand for rental properties and daily rates.
In 2019, 24.2 million people visited Miami. This makes Miami the best market for real estate investment in Florida.
The influx of tourists makes the Miami market financially viable for short-term and long-term rentals.
Real estate investors can find varied real estate options with an experienced realtor.
Over the past year, real estate prices have increased by more than 28.6%. Buying an investment property in Miami has several key advantages.
In Miami, rental laws have been relaxed, with prices determined by the market, not the government.
This allows those considering renting real estate to get a real return on their financial investment.
Orlando Metro: Real Estate Market For Traditional Investors
There are many vital reasons why the Orlando Metro is one of the most profitable places to invest in Florida for traditional investors.
Many entertainment facilities, theme parks, and universities of the country are located in this city.
The Orlando Metro is ideal for conventional investors since you can find real estate here at a relatively affordable price.
The median home price is $383,026, which is cheaper than in other cities like Miami.
A steady stream of tourists and a thriving job market have made the Orlando Metro an excellent place to buy investment properties at attractive prices.
Over the past three years, the number of jobs in Orlando has increased by 11%, adding many new jobs to the city’s economy.
The city is expected to create half a million new jobs over the next decade.
Clearwater: Perfect For An Airbnb Property
Clearwater is one of the best places in Florida to invest in Airbnb properties, with a lot of opportunities to make unique stays, for example, you could make a smart home, a beachfront property, or an inland pool villa.
The price segment for real estate has increased by more than 31.9% over the past year, forcing many residents to rent, not buy, real estate here.
Airbnb has a higher monthly rental income compared to long-term rentals. Investors typically make $2,720 on an investment property in Clearwater.
Rent growth also increased by more than 20% in the last quarter. Clearwater is strengthening its position as an investment city and a key tourist destination thanks to its many exciting places, which about 5 million tourists visit yearly.
Fort Lauderdale: Strong Investment Potential
With its vibrant neighborhoods and southern charm, Fort Lauderdale is a great place to buy an investment property, especially if you are happy to do some home remodeling.
The city’s restaurants, parks, and local attractions draw many tourists. Over the past ten years, the city’s population aged 25 to 44 has grown by 43%.
Fort Lauderdale is optimal for investors who want their real estate purchases to appreciate. The median home price in the city was $514,908, up 30.4% from a year ago.
Buying an apartment or several properties as an investment guarantees a stable and high profit.
Additionally, as millennials move into the area, the demand for rental housing is overgrowing.
The average daily rent is $238, and the monthly income is $3,562. Many people move to Florida because of the climate, pristine beaches, and no income tax.
Investment properties in Fort Lauderdale are worth checking out.
Jacksonville: Exciting Pptions ForBuying On A Budget
Investors on a tight budget should look to Jacksonville for their real estate investment business.
Prices are significantly lower than some of the cities on this list, but there’s also some severe rental potential that encourages cash flow for property owners.
According to Zillow, the median home price here is $308,300. The lower costs come despite a booming housing market, with home prices up more than 30.5% over the past year.
Property prices are expected to fall further as the real estate market stabilizes. Jacksonville is also an optimal location for short-term and long-term rentals.
Rent growth was up 24% this quarter. This is a crucial advantage if you want to offer long-term rentals to Jacksonville residents.
Tampa: Suitable For First-time Investors
Tampa is one of the best areas for new investors for your real estate portfolio. The region is known for its historical growth.
This means that the city is favorable for tourists and those who want to settle there, so it is a stable base for investment properties.
Research shows that Tampa ranks third on the list of best cities to move to. In the first two months of 2022, more than 9,000 people arrived in the region, compared to about 6,000 a year ago.
The median home price is $415,484. The area has seen phenomenal growth over the past year, with property prices increasing by over 34%, making it the ultimate destination for first-time investors who can expect their assets to appreciate significantly over time.
In the last quarter alone, rent growth has increased by almost 18%. Browse Tampa investment properties and find great deals for you.
Orlando Sub Markets: Attractive Real Estate Options
Orlando Sub Markets is the best real estate market for traditional investors and offers a variety of investment options.
The Orlando Sub Markets are an excellent place for investors to get a great deal because average home prices are lower than other Florida markets.
Also, in addition to the continuous flow of tourists and expected growth in employment, one can get ongoing and profitable investments during the year.
Rent growth was up 9% this quarter. The average investment property was $212 per day or $2,970 per month in August 2022.
Orlando Sub Markets is quite profitable for a large category of investors because Orlando Sub Markets is one of the vital entertainment centers of the country.
Local attractions draw millions of people from all over the world.
Regions Of Tampa: Great Opportunity For Multifamily Homes
Regions of Tampa are one of the best areas for multifamily investors. This is due to several factors: job growth, rising rents, vacancy rates, and new housing construction.
As mentioned earlier, millennials are moving here for convenience. This contributed to an increase in the labor market by 2.3% last year.
Future employment growth is forecast to reach 42.7% over the next decade, and the region shows no signs of slowing.
The figures show that rents rose by 18% this quarter. As the area develops, more families are looking to settle in, opening the door for multifamily investment properties.
You can rent them for a short or long term as you wish. More renters not only increase opportunities for construction and investment but also lead to higher rents.
When you’re looking to buy an investment property, there’s no better place than Florida.
The Miami area is a profitable opportunity for investors who want to rent short-term or long-term housing.
For this, it is essential to contact an experienced real estate agency that can fulfill all the requirements of investors.
Licensed agents have completed hundreds of transactions nationwide for short-term and long-term investors.