Florida is an interesting state. It has a large number of beaches, hot weather, theme parks, plenty of tourist attractions, and so on. For this reason, many people hire movers Sorrento FL because they want to move to this sunny state. Then, it is no surprise Florida’s real estate market is quite competitive. If you buy a property in Florida, you should rent it out if you do not plan to live there. The reason is quite simple. Most people prefer to rent instead of buying a property in Florida. In addition to this, if your future home is close to the beach, you can turn it into a rental vacation home. Furthermore, there is no state income tax, and Florida has low property taxes and insurance. Therefore, it would be smart to buy a house here. Here are all the best places to buy property in Florida.
The best places to buy a property in Florida – Tampa
Tampa has been an attractive destination for investors. You can find properties at very affordable prices. However, home prices in Tampa have risen in recent years due to popular demand. In addition to this, Tampa’s employment rate is on the increase every year. Therefore, many people move to Florida for a job. If you are one of them, the healthcare employment sector is always looking for employees. Now onto the prices. The median list price for a house is $312,995 while for an apartment is $239,900. In addition to this, if you plan to rent out your property, you can list it at $1,527 while the median rent price is around $1,405. Apart from this, a local economy is worth over $130 billion and Tampa’s population is growing steadily each year. For these reasons, Tampa is definitely one of the best places to buy a property in Florida.
The next on the list is the largest city in Florida, Jacksonville. It has a first-rate healthcare system and an interesting biological science sector. It is also quite affordable when considering property prices. Movers Sanford FL are almost always busy because people want to move to Jacksonville. The population has grown by 8% in just five years. Now, it is time to talk about prices. Median list prices for houses are around $210,000, which is 33% lower than the national average. In addition to this, the median list price for one apartment is around $134,950. If you plan to rent a property, the median rent is around $1,345. The good news about Jacksonville is its costs of living. They are below the national average which is quite surprising since Jacksonville is the biggest city in Florida. Other benefits include warm weather, good business climate, and no state income tax.
The best places to buy a property in Florida – Orlando
The two previous cities pale in comparison to Orlando when it comes to employment and population growth. To put it in numbers, the employment rate increased by 4.3% in just five years while the population rate increased by 14% in the same period. In addition to this, the most popular employment sectors in Orlando include accommodation and food service because of theme parks, retail trade, and social and healthcare sectors. As for the prices, the median list price for houses is around $285,000 while for apartments is $140,000. The median rent price is around $1,478. However, you can expect that rents will grow in the near future. Orlando is a perfect city for buying a property and turning it to a rental property. The home prices are relatively low compared to higher rents so you should invest in Orlando real estate market.
Fort Meade & Cape Coral
The next two cities are perfect for renting properties to tourists. Fort Meade is a small town with a rich history and warm weather. The costs of living are much lower than the national average. In addition to this, the median home prices are decent. This means an average worker can afford to purchase a property in Florida. However, the influx of new residents means a bigger demand for housing. For this reason, prices will increase but the market provides homes that you can buy, renovate, and rent. The next city is on the Southwestern coast of Florida, just between two famous cities in Florida, Miami, and Tampa. Cape Coral is more expensive in comparison to Fort Meade. In addition to this, this city is perfect for investment. Many experts expect growth in the upcoming years. Therefore, it is time to buy a waterfront house.
More cities where you can buy a property in Florida
The last two cities on the list are Okeechobee and Palm Coast. First, Okeechobee is a small town that has an interesting history and significance. The town is located on the northern bank of Lake Okeechobee. The lake itself is perfect for many recreational activities and it is used as a source of fresh water. In addition to this, home prices are relatively low. The town is perfect for families with children as it is quiet and peaceful unlike some larger cities on this list. The last town is Palm Coast. The median house price is around $200,000, which is quite affordable. Residents of this city would describe their town as a laidback community. This might not last for long since this town is also gaining popularity just like the rest of the city on this list. If you plan to purchase a property, now it is a perfect time.
All the cities
To summarize, these are the best cities in Florida for buying a property.
- Fort Meade
- Cape Coral
- Palm Coast
Florida is a popular state for tourism. For this reason, owning a property has many advantages. You can always rent it to tourists or you can rent it for a longer period of time and for a really good price. Whatever you decide to do with your property, you will not regret purchasing a house in Florida.