Fast-growing Florida has been a favorite of real estate investors for many years. With so much interest having been focused on the state, though, investors need to take care to seek the best available opportunities.
There are five cities in Florida where savvy investors are currently most active and ambitious. A quick look at these will reveal there is plenty of potential in the Sunshine State still to be realized.
- West Palm Beach
Spend some time at nria.net or a similar website and it will become clear that West Palm Beach has a lot to offer real estate investors. This beach-side city benefits from South Florida’s famously pleasant weather without being as overdeveloped as certain others in the region.
Real estate prices throughout West Palm Beach are still quite reasonable, ensuring that careful investors will not get stuck with overvalued properties. At the same time, healthy demand allows investors to secure tenants or buyers easily.
As a result, West Palm Beach wins the award for being the single best Florida city for investors to focus on at the moment. No other municipality in the Sunshine State has quite as much to offer even if the other contenders come close.
- Fort Lauderdale
As an especially mature investment market by Florida’s standards, Fort Lauderdale gains a bit of predictability in exchange for the freewheeling potential certain investors prefer. It can take some research to find a bargain in this city where the median home price stands at only a shade below $400,000. Investors who put in the effort, though, frequently end up enjoying healthy, impressive returns.
Despite playing host to plenty of fairly expensive properties, Fort Lauderdale’s overall cost of living is still quite reasonable. Investors who prefer dealing with cities where explosive growth has given way to stability will do well to give it a look.
One of a number of cities that line the bay sharing its name, Tampa is a highlight of Florida’s western coast. Sitting next to the Gulf of Mexico makes the area a bit less glitzy than the coastal cities on the opposite side of the state.
That has helped keep Tampa’s home prices down while the quality of life and governance in the city has attracted many to the area. Investors today quite often find that Tampa’s well-rounded nature fits their own goals and preferences very nicely.
Home to the Walt Disney World Resort and dozens of other attractions, Orlando is an undeniable paradise for tourists. It is also a great place to live for people who prize affordability and economic opportunity alike, as job openings and inexpensive properties are both common. With the city’s economy starting to diversify in new directions, many investors see it as the likely site of a future boom.
The nation’s largest city by area is also one of its fastest-growing. Jacksonville has been the most populous city in Florida for many years, but its growth is still going strong. Newcomers seek the many jobs that open up in the city every week in addition to the area’s affordable properties. That has induced plenty of appreciation in recent years, but investors are still uncovering bargains.
A Great State in Which to Invest
These five cities stand out as the most attractive of all at the moment for real estate investors who are interested in Florida. West Palm Beach takes a well-deserved spot at the top of the list, but the four that follow also have a great deal to offer to savvy, thoughtful investors.