The Sunshine State is full of opportunities and new beginnings for anyone looking at real estate, whether it’s residential or business-related. Today we are going to review the top 7 cities around Florida for real estate investment opportunities. A lot of people are flocking to Florida for their growing job market and stable career opportunities. With this in mind, real estate development has been booming! Making the market ripe for anyone looking to invest.
Best Places to Invest in Florida
Starting off our list is Fort Lauderdale, the leading city in Florida for job growth (meaning more people coming to the city and looking for long-term real estate options). The average rental price is $2,122/mo and the median home value is $318,141. These numbers are projected to grow steadily, making right now the best time to invest!
Jumping over to number two on our list: Tampa, Florida. The local economy in Tampa has been improving steadily over the years. The average rental price is $1,829/mo and the median value for houses is $173,250. Many investors have had eyes on the city because of the high number of bank-owned properties and the growing job market.
Next is Jacksonville, Florida whose job rate grows about 4% every year and the prices increase about 9% annually. This is just a long way of saying Jacksonville is one of the most up-and-coming cities in Florida! The average rental rate is $1,061/mo and the median house value is $165,755.
Number four brings us to Orlando, with its consistently booming economy and growing job rates. There is a constant demand for more housing as more people are looking to make it their forever home. The average price for rentals in Orlando is $1,327/mo and the median house value is $183,548.
West Palm Beach has always been one of the most desirable beach cities to invest in — giving it the rightful spot of number five on our list. Many would think the cost of living is too high for them, but West Palm Beach is surprisingly affordable. The average rental is $2,569/mo and the median home value runs at around $250,784.
Moving right along to Cape Coral, Florida where the international tourist industry is booming. Cape Coral is a great option for investing in rental properties with very affordable rates to make any landlord happy. The average rental price is $1,404/mo and the median home value is $215,201.
Our last city is Doral, one of the more expensive cities for investing but for good reason. The growing population and low unemployment rates make this city one to consider. The average rental price is $1,937/mo and the median home value is $422,970.
Ready to Get Started?
At Icon Realty, we have plenty of experience with clients unsure of where to begin and we are here to help you navigate the unknown of Florida realty. If any of these 7 cities jumped out to you—let us know! Get in touch by visiting our contact page today, or learn more by visiting our blog.