Top Florida Cities for Real Estate Investing
If you’re searching for investment property, cross the state line into Florida and stop. Per a recent study by GOBankingRates.com, three cities — Orlando, Tampa and Jacksonville — were ranked among the nation’s top 15 as great places to invest in real estate. Using rental properties to expand your portfolio is a smart move thanks to ongoing recovery from the mid-2000s recession. Home prices are rising. So is inventory as builders rebound from the downturn. Prospective tenants also are more confident taking large financial risks such as moving for jobs, retirement or to pursue new careers and dreams. The folks at GOBankingRates.com surveyed 61 of the 100 most populous U.S. cities to “build” top-15 lists of the best and worst cities in which to own investment property. They
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Read on to see what they discovered about these three Florida cities’ real-estate investment potential.
Orlando
This may not surprise you, but Orlando ranked No. 1 on GOBankingRates.com’s list of top-15 U.S. cities in which to own investment property. Fueled by its status as one of the world’s premier vacation destinations, the City Beautiful boasts perennial population and employment growth. People want to live and work in an area teeming with services and transportation hubs. The never-ending supply of leisure activities also ensures steady job opportunities, vacationers’ accommodation demands and the housing necessary to support it all. GOBankingRates.com estimates investors will require only 12.4 years to pay off the purchase of an Orlando-area rental home using tenants’ rent as payment. Tampa Only xx miles southwest of Orlando, Tampa ranked No. 2 on the list of top-15 U.S. cities in which to own investment property. Tampa is booming. While tourism remains an economic engine, Tamp is a major port and home to companies such as Raymond James Financial and the Home Shopping