Florida is known for its beautiful weather, beaches and night life. For these reasons and many more, the Sunshine State frequently ranks as one of the best places to live. Below are three Florida rental property markets that have tremendous job growth and a higher population. There's also opportunities for investors to purchase properties at bargain prices and receive positive cash flow in each city.
Forbes recently ranked Jacksonville as the third best city to find a job and ranked it sixth for tech-related jobs. Economists predict the city's future job growth will reach almost 40 percent over the next ten years. The city's population has grown almost a quarter since 2000 and continues to grow 2% on average every year. The area is also known for being affordable. The average home prices are 23% less than the national average, however real estate investors can still typically find properties that sell for over six figures and rent above the national average to receive positive cash flow.
Orlando is another great market for real estate investors. The city's employment growth is among the best in the nation at 4% per year. Almost half of Orlando’s population (41%) moved to the city after 2000. Since the population is expected to increase the next couple of years, the demand for housing will increase as well.
Tampa is another hot real estate market due to population growth. Over 4 million people live in Tampa, making it one of the most populous cities in Florida. It's also one of the fastest growing metropolitan areas in the U.S. Tampa's local economy is thriving, with almost 45,000 new jobs created every year. The area also has moderately priced homes you can buy and rent out for a great return.
Published by your friends at VerticalRent