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May 10th, 2018 by Marco Santarelli
Should You Invest In Orlando Real Estate Market?
Owing to its picturesque beaches and rapidly improving quality of life, Orlando, FL is proving to be a secure real estate investment destination for not only local but also international investors. With an average rental of $1,599, the Orlando real estate market is expanding at a great pace and people from all over the country and even beyond are either choosing to move permanently or invest here. Compared to other cities with competitive real estate markets, investing in Orlando real estate market makes more sense since it has experienced a 6% increase in property prices in a year.
Orlando, FL Real Estate Market Statistics 2018
According to Zillow.com, the median home value in Orlando is $226,666. Orlando home values have gone up 11.2% over the past year and Zillow predicts they will rise 6.7% within the next year. The median list price per square foot in Orlando is $147, which is higher than the Orlando Metro average of $141. The median price of homes currently listed in Orlando is $279,900 while the median price of homes that sold is $226,500. The median rent price in Orlando is $1,525, which is higher than the Orlando Metro median of $1,500.
Top 10 Reasons To Invest In Orlando Real Estate Market In 2018
Orlando, FL has been included in many lists for best cities to invest in for the year 2018. Here are the top 10 reasons to invest in Orlando real estate market in 2018:
Increasing Foreign Investment
International investors from all major countries of the world are exhibiting their interest in the Orlando real estate market because of its beautiful scenery, improving quality of life and ambient weather. It is also extremely popular for foreign investments because of its intercultural connectivity with people from various Latin American countries. In addition to this, many Chinese as well as Spanish and Middle Eastern investors are also attracted to Orlando, FL for real estate investment.
Dramatic Population Growth
Owing to people from various walks of life and demographic differences choosing to reside in the suburbs of Orlando, this city is going through a major population growth. During the last 3 years, the population in Orlando has been growing at the rate of 7.2% which has never been experienced by this city before. Orlando is rapidly becoming a central attraction for businessmen, students and small families owing to its growing trend of upward life mobility which makes lures investors to invest in the Orlando real estate market.
Increasing Job Opportunities
Orlando is the new hub for many young professionals especially those with various types of technological expertise, including engineers and IT professionals. This city has experienced an annual job growth of around 4.4% and is also one of the fastest growing metro areas in the country. The city is also set to experience its highest job growth rate in the 10 years to come. A market with high job growth is a great market for real estate investment as well.
More Rental Income
Since job opportunities in Orlando are growing, people from all over the country and even some other countries are choosing to move here. This directly translates to a boom in rental income as there is a resultant increase in the demand for both residential and commercial property rentals, and this means more steady income for investors in Orlando real estate market.
Another reason for the growing economy and population expansion in Orlando, Florida, is the developed transportation infrastructure which makes travelling between destinations more convenient. Generally, Florida has an efficient transportation network which complements its tourism growth as well.
While improving Orlando real estate market and flourishing tourism are two of the most important reasons behind Orlando’s economic stability, these two industries have a lot to gain from the successful economy. This expansion is related to the growing population and job opportunities in this city, this translates to more rental income and tourism leading to better economy for the city.
Flexible Tax Laws
Investing in Orlando real estate market can help investors to lighten their taxes as Florida is one of the few states with no personal income tax. Its flexible tax laws are a blessing for investors especially in this climate of booming economy. Tax laws in Florida are considered to be 4th friendliest laws in the country which is why a significant number of businesses choose to be based here. Florida does impose a 5.5 percent corporate income tax.
Orlando is a Top-notch Tourism Center
Orlando has been boasting of economic stability since the beginning of the year 2018, and tourism growth and opportunities are one of the main reasons for its smooth expansion. Considered to be a “Theme-Park Capital of the World,” Orlando attracts most of its tourism due to the presence of Universal Studios as well as SeaWorld and the most popular, Disneyland. In addition to this, Orlando’s beautiful beaches and warm weather also attracts thousands of tourists every year.
Orlando Adds Value to Real Estate
Compared to saturation in similar markets in other cities like New York, Orlando real estate market has all the indicators of a flourishing growth in the current year. Emerging Trends in Real-Estate 2018 has listed Orlando as the 16th growing real estate market in USA with potential to grow rapidly. This list also includes other cities from Florida like Miami, Ft. Lauderdale, and St. Petersburg.
Entrepreneurship in Orlando
Orlando, owing to its friendly tax environment and affordable real estate can prove to be a vital opportunity for up and coming start-ups. Entrepreneurs and small business owners can rent showrooms and shops on better terms than most other cities and states.
Invest In Orlando Real Estate Market: The Conclusion
Orlando real estate market has a high potential for growth considering the current state of its economic expansion and population influx. This market currently has an ideal environment for US investors in housing properties especially for turnkey real estate investments.
We recommend five other real estate markets for turnkey rental property investing:
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