Why Invest in Florida?
Florida, the Sunshine State, offers many bright opportunities for real estate investors. It is the most populous state in the Southeast and #3 in the nation (U.S. Census Bureau). The population growth boosts from a solid economy that comes from being the 4th highest GDP in the nation, according to the Bureau of Economic Analysis. This abundant population ensures that there will be a steady supply of tenants for property investments.
Although tourism is the leading industry in Florida, other industries such as aerospace, government, military, health care, and international banking also play an important role in the economy. Several Fortune 500 corporations call the Florida home including World Fuel Services, Publix Super Markets, Auto Nation, Office Depot, Hertz, Fidelity National Financial, and Lennar Corp. With a diverse collection of industries supporting Florida’s economy, it further strengthens the drive for workers to want to live and work here. Those factors in turn create a strong demand for rental properties and increasing rental rates.
Investors are seeking Florida real estate for a solid return on investment based on a stable and growing economy. While there are investment opportunities throughout the state, major metros are some of the most popular choices, like Jacksonville, Orlando, Miami, St. Petersburg, and Tampa.
Popular Cities in Florida
Some of the larger and most popular cities in the state include:
While each of these cities have their own unique local economies, they play a bigger part in fueling the massive economy that drives the state of Florida. A strong economy leads to an increase in jobs, which is one of the critical factors that affects housing and real estate investments.
Getting Started in Real Estate Investing? HomeUnion® Can Help
HomeUnion® is the leader in residential real estate investment. With the use of big data and machine learning, we analyze information on millions of single family homes in Florida; and across the United States and calculate home values RENTestimate for every property in Florida. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.