With our world seemingly opening up again, the real estate market has been booming. 2022 could be the year for you to invest in real estate income properties. Florida has various tax benefits as well making it an even better opportunity for investors. Today we are going to review a few of the many benefits that come along with Florida properties.
We all know that real estate investments require a demand for tenants in order to turn a profit. Florida has one of the highest growing populations and is the third most populous state in the country. According to the US Census Bureau, Florida’s population gained an additional 241,256 residents in 2020, making it a perfect time for investing in a rental property.
Alongside the growing population, there is a staggering amount of job opportunities as the job market continues to rise. There are a number of industries popping up and making their headquarters in the Sunshine State. Some of the industries include international banking, aerospace, and healthcare which bring massive amounts of employees and their families into the state. There are a number of Fortune 500 companies who call Florida home, including Auto Nation, Hertz, Office Depot, and Lennar Corp. All of these big names draw more people in creating an even higher housing demand.
Around the country, Florida is known for its unique and diverse lifestyle, from Miami Beach to the small retirement communities to the Everglades. There is a never-ending list of places to see in the state of Florida bringing more and more short-term and long-term visitors every year. This wide array of locations and activities is desirable to nearly every age group who wants to experience the Sunshine State themselves.
The last thing we want to touch upon when discussing investments in Florida is the overall real estate market of course! The average or median home value in Florida is only $270,560. That is growing every year, but when thinking about its many populous cities and the average cost of living in other states this number is truly astounding. This figure shows that Florida is one of the cheapest states to buy a home or property in and is a great way to make money off of your investments.
Local Real Estate Agents
At Icon Realty, we have plenty of experience with investing in Florida properties and consider ourselves highly knowledgeable for our clients. The real estate market is thriving in Florida, like many other states we were set back by the COVID-19 pandemic but 2021 brought new light to the state. We are seeing property values and job markets increase overall as we begin to get out of lockdown and back to regular life. 2022 could be your year to make some financial gains and invest in Florida real estate!