Why Florida is Consistently on the Best Places to Invest List
Posted: October 20th, 2020
Do a quick Google search for “best places to buy investment property in 2020.” Each of the lists in the top 5 results is heavily peppered with cities in Florida, with a high concentration of Central Florida cities. In fact, if you look at Roofstock’s comparison between this year’s list and last year’s, you’ll find that Florida cities have claimed many of the top 10 spots for multiple years. Of course, our state’s beaches and year-round tropical temperatures are almost universally appealing, but it’s more than balmy breezes that make Florida a great place to invest in property.
The start of the coronavirus pandemic this year caused some initial uncertainty in the real estate market, but after a short adjustment period, we’ve seen some record-breaking sales and some interesting real estate investment opportunities arising around Brevard County. Throughout the confusion, Florida markets are still appealing to investors around the world. Here are a few reasons why:
Strong economic growth
Just look at how much the space program and the industries surrounding it have grown over the last decade! Aerospace and defense companies on the Space Coast are booming, with many major companies continuing to add jobs during the pandemic. Brevard County is home to the L3Harris headquarters, a major aerospace and defense company that creates solutions “across air, land, sea, space and cyber domains,” according to their website. What’s more, the Orlando Melbourne International Airport is growing, with Aerion Supersonic establishing new headquarters in the area as they work to develop civil supersonic flight.
In a nutshell, Florida’s position in the midst of an “aviation renaissance” offers plenty of job opportunities for interested candidates from all around the country, and the demand for rental properties is high.
Nearby cities have shown impressive population growth
According to RealWealth Network, the population of the Orlando metropolitan area has grown 252% faster than the national average over the last eight years. With Orlando also holding the crown as the most-visited tourist destination in the U.S. in 2019, The City Beautiful and its neighbors (like us!) bring in people from all different walks of life. Whether you’re looking for world-class entertainment and attractions or you’re more interested in outdoor activities like airboating and fishing, Central Florida is a great place for just about anyone to call home.
We think the Space Coast offers the perfect situation for families and individuals alike. Its proximity to a major metropolitan area is juxtaposed with its tranquil beach backdrop, giving you a real taste of Florida living.
Homes are still affordable compared to other markets
Here on the Space Coast, you can purchase a beautifully updated investment property for less than $200,000. Our interest rates are currently at historic lows, potentially giving you a little more buying power. All in all, Space Coast homes are prime properties for investors; it’s easy to find a property that will be rented quickly and for the long term.
Brevard County Investment Opportunities Abound
Today is a great day to enter the Brevard County investment market. Empowered by low interest rates, you can find a number of affordable luxury properties that will make the perfect rental home for anyone moving to Florida. Head over to our Brevard MLS Search tool to view our available listings, or call the Ellingson Properties team at 321-750-7050 to find out more about the Brevard County investment market.