If you’ve been tossing around the idea of purchasing (or purchasing more) rental property in Florida, 2019 could very well be your year to do so. That’s because, as a whole, this year is anticipated to be a strong time for the Sunshine State real estate market.
One of the biggest reasons for that is because Florida has a lot to offer for real estate investors. In fact, according to PWC’s most recent “Emerging Trends in Real Estate” report, which covers both the United States and Canada, Florida is listed as offering a long list of positives, including attractive housing prices, demographic growth, low unemployment (as well as strong job growth), and even a nice business climate.
This, in turn, translates to a strong housing market…and there is still room for even more growth. In fact, there are several housing markets in the state of Florida that are expected to experience population growth rates of at least 85% higher than the national average.
Breaking it down even further, one of the top five cities in the nation that rank the highest includes Orlando, while Tampa Bay / St. Petersburg were included in the top ten. Added into the top 20 U.S. cities that are ripe for real estate investors include Miami and Fort Lauderdale.
Based on the PWC report, all of these areas have successfully rebounded from the 2008 economic downturn and should ideally be considered as top choices for purchasing rental property in Florida.
While there are some definite pluses to starting – or adding to – your collection of Florida rental properties, being a landlord can be a lot of work. So, by including an experienced property management team, you can enjoy the steady stream of rental income, while at the same time turning over the day-to-day management duties to someone else. For more information on how you can partner with an Orlando property management team, Contact Us.