As we head into 2020, how will your Orlando rental real estate investment(s) fare?
According to experts, the answer could be very appealing. That’s because, based on figures from Neighborhood Scout, the projected market appreciation for Orlando real estate was estimated at 3.35% for 2019 – and according to Zillow, it is expected to increase even more in 2020 to approximately 4.5%.
Even so, the Orlando housing market is still expected to remain very affordable going forward. This could be a boon for residential real estate investors in the City Beautiful. Given the area’s continued job growth, Central Florida – and in particular, Orlando – continues to attract residents, many of whom tend to rent their housing before making a long-term commitment to buy. Throughout the past 12 months, the local job market in Orlando, Florida increased by nearly 4%. This is more than double the United States overall average of just 1.6%.
In addition, based on data from Niche.com, Orlando was recently ranked #34 in the Best Cities for Young Professionals in America, with an overall grade of A, given its urban / suburban mix feel. The area is also ranked high for its nightlife, diversity, and public schools. (The year-round warm weather can also be considered a plus!)
The median monthly rent in Orlando across the board for 2019 was just under $1,100. This is above the U.S. national average of $949 per month. With that in mind, given the high demand for rental housing in Orlando, investors are typically able to charge higher rent. This, in turn, can equate to a nice return on your investment.
While growing your investments is likely appealing, being a landlord can take up quite a bit of time. So, if you would rather leave all of the “heavy lifting” of managing and maintaining your Orlando rental properties to an experienced property management team, give us a call. We’ll show you how you can still benefit from monthly rent checks without having to handle all of the time-consuming tasks yourself.