Investing in real estate is a good idea if you know where to invest. In recent years, the real estate market has appreciated in value and recovered from the recent crash. This is also true of real estate in Orlando. On the one hand, it is a very diverse city, with housing options for every budget. On the other, there are many neighborhoods for those with a higher income. If you are looking for affluent neighborhoods in Orlando to invest in, look no further. We have gathered a comprehensive list of Orlando’s most expensive real estate investments.
Affluent neighborhoods in Orlando – Winter Park
Locals in Orlando consider Winter Park the ‘old money’ center of the city. It is where many families, as well as single professionals, find their home. Moreover, its location is one of its biggest advantages. It is only a 15-minute drive from downtown Orlando. This is why it is ideal for those who seek to escape the traffic, but also want to be close enough to the action. This neighborhood is also the best place to eat in Orlando. 4 Rivers Steakhouse is located here, considered the best barbeque restaurant in the state. There isn’t a lack of museums, either. The Charles Hosmer Museum of American Art attracts many tourists as well as residents each year. If you are a professional looking to start your career, Winter Park is the place for you, with a rate of unemployment of only 4.3%.
When it comes to housing prices, Winter Park is among the highest in Orlando. The median price of homes is around $780,000, depending on the square footage as well as location. The value is expected to rise in the upcoming years, making it ideal for investors.
A relatively new neighborhood, Lake Nona is home to people from a variety of backgrounds. With neighborhoods of its own, there are housing options for everyone. However, it is also home to the most expensive real estate in the state. The biggest medical research center in the area is located here, giving it the nickname Medical City. Lake Nona also has a thriving golf scene, with tournaments held each year. Since it is located 20 miles from downtown, it is a great place for commuters. This also makes it a great opportunity for those who wish to rent out homes. In 2018, the median price of homes in Lake Nona was $400,000, while the median rent per month was around $2,000.
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Affluent neighborhoods in Orlando – Oviedo
One of the biggest perks of Oviedo is its closeness to the University of Central Florida, making it one of the best college locations in Florida. This makes it ideal for those attending classes or working there. It also means that those who invest in a rental property will have a guaranteed influx of cash. Moreover, Oviedo offers all the benefits of small-town life.
There are farmers markets daily, and chickens are roosters are not an uncommon sight. This neighborhoods also has one of the fastest growing economies in the area, with new restaurants and shops opening every day. Oviedo doesn’t lack in entertainment opportunities, either. You can take an air-boat tour of Lake Jesup, where you can see alligators and other wildlife.
Over the past year, home value has increased by 8.2%. With this kind of rise, those looking to invest in real estate in Orlando won’t go wrong with choosing Oviedo.
If you are looking for a safe place for you and your family, Baldwin Park is one of the safest affluent neighborhoods in Orlando. It is close enough to the city center, while also keeping the sentiments of a suburb. In 2016, the Home Union Research Services ranked it among the safest in the country for trick-or-treaters. When you decide to move to Baldwin Park, you might want to sell your car. This neighborhood is a haven for walkers, with many shops and quirky boutiques to window-shop. For those interested in sports, this neighborhood doesn’t lack opportunities. There are many biking and hiking trails, tennis courts, basketball courts, and even a track and field complex. Lovers of Spanish and colonial style homes will be delighted to see them in abundance in this stylish neighborhood.
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Affluent neighborhoods in Orlando – Kissimmee
This neighborhood is the center of Osceola County and is located between other affluent neighborhoods. For those who wish to buy a rental property at a low price, this is the ideal place. With all the advantages of an affluent area, it offers homes at low prices. Moreover, property taxes are lower than in surrounding neighborhoods. Orlando is famous for its theme parks and exciting rollercoasters, and Kissimmee is close to them all. Families with small kids will find something to do every day. Even those who enjoy nature will have fun exploring the kayak trails of this neighborhood.
In 2018, the median price of housing per square foot is $118, lower than in other affluent neighborhoods in Orlando. Also, the value of homes has risen by 12% in the same year, and experts expect it to go up even higher in the upcoming years.
College Park is one of the fastest developing affluent neighborhoods in Orlando. While housing is expensive, it doesn’t fail to attract more and more residents each year. Its demographics consist of longtime residents, as well as newcomer professionals who work in the city. There are many specialty stores and shops, with something for everyone. Additionally, there are many lakes surrounding the area, such as Lake Ivanhoe and Lake Adair. Here you can take a walk on one of the paved paths, or take your children to one of the many playgrounds. Loch Haven Park is the neighborhood’s cultural center, with the Orlando Science Center at its heart. Property is selling fast, so investors should act quickly if they want to take part in College Park’s many advantages.