We’ll be discussing the latest Orlando real estate market trends & statistics to find out how they can affect the investors and homebuyers in the next six to twelve months. After a big slump in real estate sales and activity during April, May, and June, home sales have bounced back in the Metro Orlando housing market. As per the current trends, Orlando is all set to remain a seller's market in the next 12 months. In July, the total closed sales amounted to 3,679, up 1.4% year over year and up 18.6% from June 2020.
The median sales price in Orlando for all home types sold in July was $270,000, which marked a 9.2% increase year over year. That price was also a 1.9% improvement compared to June's median price of $265,000. These figures include Lake, Orange, Osceola, and Seminole counties which come under the Orlando MSA, according to the Orlando Regional Realtor Association. Despite the pandemic, there is a strong demand from home buyers and inventory is short of supply of available properties.
Data by Realtor.com also corroborates that in July 2020, the Orlando housing market was a seller’s market, which means there were roughly more buyers than there were active homes for sale. The sellers in Orlando have managed to hold good leverage in price negotiations. On average, they could sell homes for 98.58% of the listing price–just 1.42% below asking price. A seller would always prefer scenarios that can yield a ratio of 100% or higher while a buyer would prefer a sale to asking price ratio that’s closer to 90%.
Let’s talk a bit about Orlando the surrounding metro area before we discuss what lies ahead for investors and homebuyers. Orlando's housing 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. Orlando has once again proved to be one of the best places to invest in real estate in Florida. Owing to its picturesque beaches, rapidly improving quality of life, booming population and economy, Orlando is proving to be a secure real estate investment destination for not only local but also international investors.
Compared to other cities with competitive real estate markets, investing in the Orlando real estate makes more sense since it has experienced a 6.38% increase in the median home price since February 2019. Not to mention, the Orlando region is booming in terms of both population and jobs. There is a great demand for rental properties due to the high proportion of renters (65.29%). Moreover, Orlando's real estate prices remain highly affordable with a median value of $270,000 (as of July 2020). We can say that this is true for the entire Florida real estate market.
According to Zillow, the first-time buyers in the U.S. looking for an affordable home without much competition may have the best luck in the State of Florida, with Orlando real estate market ranked high in the “Top 10 best cities for first-time homebuyers.” The real estate appreciation rate in Orlando in the latest quarter was around 0.69% which equates to an annual appreciation forecast of 2.79%. Even small changes in the appreciation rate can change the long-term value of buying considerably. Let’s continue to explore Orlando's housing market to understand what it will look like in 2020.
Real estate prices are deeply cyclical because its demand side is impacted by economic cycles, and also because demand has historically outweighed supply. Much of it is dependent on factors you can’t control. Therefore, many variables can potentially impact the value of the real estate in Orlando in 2020 (or any other market) and some of these variables are impossible to predict in advance.
Orlando Housing Market Price And Trends 2020
Analyzing real estate data from multiple sources gives us a much broader perspective of the direction in which a market is moving. We shall now discuss some of the most recent housing trends in the Orlando area from multiple sources and compare them with the past couple of years. We shall mainly discuss median home prices, inventory, growth, and neighborhoods, which will help you understand the way the local real estate market moves in this region. Orlando has an average Walk Score of 41 with 238,300 residents. The city has some public transportation and is somewhat bikeable. The most walkable Orlando neighborhoods are South Eola, Central Business District, and Lake Eola Heights.
According to Neighborhoodscout.com, a real estate data provider, one and two-bedroom large apartment complexes are the most common housing units in Orlando. Other types of housing that are prevalent in Orlando include single-family detached homes, duplexes, rowhouses, and homes converted to apartments. Orlando has a mixture of owner-occupied and renter-occupied housing units. At the national level, the single-family rental homes have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single-family rental units. Most likely, a housing shortage will remain in 2020, keeping home prices high.
The Orlando housing market in February saw its home sales improve by more than 4% compared to February 2019, while the median price increased by 6% to $250,000. Inventory experienced a year-over-year decline of 17% and continues to be a mitigating factor, as reported by Orlando Regional REALTOR® Association.
The overall median price of Orlando homes (all types combined) sold in February is $250,000, which is 6.38% above the February 2019 median price of $235,000 and up 2.0% compared to the January 2020 median price of $245,000. The median price for single-family homes in February increased 8.0% over February 2019 and is now $270,000. The median price for condos increased by 6.2% to $145,500.
Orlando’s housing market in March saw its home sales rise by nearly 2% compared to March 2019, while the median price increased by 8%. Inventory experienced a year-over-year decline of 10%. There was no solid impact of the COVID-19 pandemic in March. The overall median price of Orlando homes (all types combined) sold in March increased by 7.9% to $253,500, which was above the March 2019 median price of $235,000 and 1.4% above the February 2020 median price of $250,000.
Impact of COVID-19 on The Orlando Housing Market
The impact of the pandemic was first felt in April. The numbers revealed an expected decline in sales. Home sales dropped 28% to show an anticipated decline in activity as a result of the stay-at-home restrictions. The median home price increased by 12% while inventory experienced a year-over-year decline of 3%, according to ORRA. The prices held up mainly due to a shortage in the supply of available properties.
The overall median price of Orlando homes (all types combined) sold in April was $263,750, 4.0% above the March 2020 median price of $253,500. Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in April were 32.4% lower than in April of 2019. To date, sales in the MSA were down by 7.2%.
In May, there was a major decline in sales, much more than April. ORRA reported 2,127 sales of all home types combined, which was 44.1% less than the 3,806 sales in May 2019 and 11.1% less than the 2,393 sales in April 2020. Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in May were 43.9% lower than in May of 2019. To date, sales in the MSA were down by 16.4%.
On the other hand, home prices continued to rise in May as closings and inventory fell. The overall median price of Orlando homes (all types combined) sold in May was $259,900, which was 7.0% above the May 2019 median price of $243,000 and 1.5% below the April 2020 median price of $263,750.
June was a month of recovery from the slump due to the COVID-19 pandemic. Home sales skyrocketed in June, up nearly 46% from May. As compared to June 2019, the sales dropped by 9%. The number of homes for sale continued to be an issue, as June inventory experienced a decline of 19% when compared to June of 2019. The overall median price of Orlando homes (all types combined) sold in June was $265,000, which is 6% above the June 2019 median price of $249,999 and 1.9% above the May 2020 median price of $259,900. Months of supply was 2.1-month for June. There was a 2.4-month supply in June of last year and a 3.4-month supply in May.
Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in June were 13.4% lower than June of 2019. To date, sales in the MSA are down by 15.8%.
- Lake: 15.6% below June 2019.
- Orange: 18.5% below June 2019.
- Osceola: 6.8% below June 2019.
- Seminole: 3.6% below June 2019.
Latest Orlando Housing Market For July 2020
Orlando’s housing market in July saw a surge in buyer activity that tipped home sales back into the black after three months of precipitous year-over-year declines caused by the COVID-19 pandemic, reports the Orlando Regional REALTOR® Association. The median price of homes sold in Orlando continued on its upward path, while inventory fell to its lowest level this year.
| The overall median price of Orlando homes (all types combined) sold in July is $270,000, which is 9.2% above last year's price. |
| It is above 1.9% above the June 2020's median price of $265,000. |
| The median price for single-family homes that changed hands in July increased 10.1% over July 2019 and is now $295,000. |
| The median price for condos increased 5.1% to $145,000 and townhomes/villas/duplexes increased 4.6% to $224,900. |
| Members of ORRA participated in 3,679 sales of all home types combined in July, which is 1.4% more than the 3,628 sales in July 2019. |
| Sales of all home types combined are 18.6% more than the 3,103 sales in June 2020. |
| Sales of single-family homes (2,920) in July 2020 increased by 2.4% compared to July 2019, |
| Condo sales (401) decreased by 4.8% year over year. |
| Duplexes, townhomes, and villas (358 combined) increased 0.9% over July 2019. |
| Pending sales in July are up 8.7% compared to July of last year and are down 1.5% compared to last month. |
| New contracts are up 8.2% year over year, and new listings are up 3.6%. |
| The average interest rate paid by Orlando homebuyers in July was 2.97%, down from 3.04% the month prior. |
| Homes to an average total of 93 days from listing to closing (up from a total of 87 days the month prior). |
| The overall inventory of homes represents a decrease of 22.2% when compared to July 2019, and a 5.1% decrease compared to last month. |
| There were 32.7% fewer single-family homes; 11.4% more condos; and 22.8% more duplexes/townhomes/villas, year over year. |
Orlando Real Estate Market Forecast 2020 – 2021
Orlando housing market 2020 is shaping up to continue the trend of the last few years as a strong sellers' market. It is also one of the hottest real estate markets for investing in rental properties. What are the Orlando real estate market predictions for 2020? Let us look at the price trends recorded by Zillow over the past few years. Since 2015, the median home prices in Orlando have appreciated by roughly 46.6% from $177,000 to $259,407, according to Zillow’s data.
The Zillow Buyer-Seller Index (BSI) considers Orlando a sizzling hot seller’s real estate market. This is computed monthly. According to their index, there exists a limited supply of homes in Orlando, and buyers are forced to compete often resulting in higher prices and/or quicker sales that tend to benefit sellers. In other words, based on the last month’s key housing market indicators, the demand is exceeding the supply, giving sellers an advantage over buyers in price negotiations. There are fewer homes for sale than there are active buyers in the marketplace.
The latest Orlando real estate market forecast (by Zillow) is that the home prices may remain flat or decrease by a mere 1.6% – in the next twelve months. This prediction could be due to the short term impact of the ongoing pandemic which has impeded the real estate sales activity in the entire country.
Here is the visual representation of historical Orlando home prices and the latest forecast until March 2021.
Here is a short and crisp Orlando housing market forecast for the 3 years ending with the 3rd Quarter of 2021. The accuracy of this forecast for Orlando is 85% and it is predicting a positive trend. LittleBigHomes.com estimates that the probability of rising home prices in Orlando is 85% during this period. If this price forecast is correct, the Orlando home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
The change in home prices for Orlando-Kissimmee-Sanford, FL is shown below for the three-time periods (data up to 3rd Quarter, 2018). The Orlando Home Price Index has increased for the last 25 consecutive quarters. The highest annual change in the value of houses in the Orlando Real Estate Market was 32% in the twelve months ended with the 4th Quarter of 2005. The worst annual change in home values in the Orlando Market was -21% in the twelve months ended with the 4th Quarter of 2008.
The highest growth in home values in the Orlando Real Estate Market over three years was 76% in the three years ended with the 2nd Quarter of 2006. The worst performance over three years in the Orlando Market was -41% in the three years ended with the 2nd Quarter of 2010. For upcoming updates, you can visit this page.
| Time Period | Orlando Metro Area Real Estate Appreciation |
| Last 5 Years | 59% |
| Last 10 Years | 18% |
| Last 20 Years | 131% |
The question now is what happens moving forward. These numbers can be positive or negative depending on which side of the fence you are — Buyer or Seller? It is quite evident that the ongoing pandemic has not had any major impact on Orlando's housing market. However, it was quite expected that social distancing, higher unemployment, and lower overall economic activity would constrain real estate activity in the near term. And it did happen from April onwards.
The sales took a massive hit in the past couple of months with signs of great recovery in July. After three months of year-over-year declines, sales in July have bounced back. The report for August is not available yet but sales are expected to do much better than July due to pent up demand.
The industry is adapting to the current environment by conducting business using technologies such as virtual showings and e-signing to help buyers and sellers with their housing needs in the face of these challenges. COVID-19’s impact on the Orlando housing market was not that extreme but according to ORRA, any future depression in sales can be attributed to an accelerating lack of inventory.
We can see that supply remains very low indeed. The overall inventory of homes that were available for purchase in July represents a decrease of 22.2% when compared to July 2019, and a 5.1% decrease compared to last month. The same trend can be seen for single-family homes. There were 32.7% fewer single-family homes year over year.
What does it mean for homebuyers in Orlando? The biggest mistake buyers make is sitting around waiting for sale prices to decline while their potential mortgage payment plummets. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88% in the first week of August. The 15-year fixed-rate mortgage dropped to 2.44%. This is the time for buyers to take advantage before they are increased again. Properties purchased today are expected to continue appreciating over the next 12 months.
Orlando's real estate appreciation rate in the latest quarter was at 0.69%, which equates to an annual appreciation rate of 2.79%—The local agents anticipate that home prices would rise due to tight inventory and pent up demand. According to ORRA, the average interest rate paid by Orlando homebuyers in July was 2.97%, down from 3.04% the month prior. The Orlando housing affordability index for July is 137.74%, down from 139.10% last month. The first-time homebuyer affordability index decreased to 97.95 from 98.92 last month.
An affordability index of 99% means that buyers earning the state-reported median income are 1% short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.
In conclusion, we can say that Orlando and the entire metro area market is so hot that it cannot shift to a complete buyer’s real estate market, for the long term. In a balanced real estate market, it would take about five to six months for the supply to dwindle to zero. In terms of months of supply, Orlando can become a buyer’s real estate market if the supply increases to more than five months of inventory.
And that’s not going to happen. We can conclude that demand has not only recovered from the COVID-19 pandemic but has reached heights that make it very strong by any historical standard. Hence, Orlando real estate market remains strong and skewed to sellers, due to persistent imbalance in supply and demand.
Real estate market forecasts given in this article are just an educated guess and should not be considered financial advice. Real estate prices are deeply cyclical and much of it is dependent on factors you can’t control. Many variables could potentially impact the value of a home in Orlando in 2020 (or any other market) such as big changes in the distressed, new-construction, or luxury home segments. There are also a wide variety of economic and political factors that can and do impact real estate markets. Most of these variables are difficult to predict in advance.
Orlando Real Estate Foreclosure Statistics 2020
Looking for foreclosure homes in Orlando? As per the Orlando foreclosure data by Zillow, the percent of delinquent mortgages in Orlando is 1.2%, which is higher than the national value of 1.1%. The percent of Orlando homeowners underwater on their mortgage is 6.6%, which is higher than the Orlando-Kissimmee-Sanford Metro at 6.1%. ORRA reported that sales of distressed homes (foreclosures and short sales) reached 79 in July and are 27.5% less than the 109 distressed sales in July 2019. Distressed sales made up 2.2% of all Orlando-area transactions last month.
There are currently 1,245 properties in Orlando, FL that are in some stage of foreclosure (default, auction, or bank-owned) while the number of homes listed for sale on RealtyTrac is 1,183. In July, the number of properties that received a foreclosure filing in Orlando, FL was 29% higher than the previous month and 97% lower than the same time last year. In July, the zip code with the highest foreclosure rate is 32833, where 1 in every 3741 housing units is foreclosed. 32826 zip code has the lowest foreclosure rate, where 1 in every 9210 housing units becomes delinquent.
| Potential Foreclosures in Orlando | 1245 (RealtyTrac) |
| Homes for Sale in Orlando | 1183 |
| Recently Sold | 7821 |
| Median List Price | $285,000 (2% rise vs June 2019) |
Orlando Real Estate Investment
Is Orlando a Good Place Real Estate Investment? Many real estate investors have asked themselves if buying rental property in Orlando is a good investment? You need to drill deeper into local trends if you want to know what the market holds for the year ahead. We have already discussed the Orlando housing market 2020 forecast for answers on why to put resources into this market. Purchasing an investment property in Orlando real estate is a little different from shopping for your car or primary residence.
Compared to saturation in similar markets in other cities like New York, Orlando has all the indicators of a flourishing growth in the coming years. Emerging Trends in Real-Estate 2018 has listed Orlando as the 16th growing real estate market in the USA with the potential to grow rapidly. This list also includes other cities from Florida like Miami, Ft. Lauderdale, and St. Petersburg.
Top Reasons To Invest In The Orlando Real Estate Market
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Let’s take a look at the number of positive things going on in the Orlando real estate market which can help investors who are keen to buy an investment property in this city.
Increasing Foreign Investment in Orland0
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 major population growth. During the last 3 years, the population in Orlando has been growing at a rate of 7.2% which has never been experienced by this city before. The current population of Orlando in 2020 is 1,964,000, a 2.13% increase from 2019. The population of Orlando in 2019 was 1,923,000, a 2.18% increase from 2018.
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. Another reason for the growing economy and population expansion in Orlando, Florida, is the developed transportation infrastructure which makes traveling between destinations more convenient. Generally, Florida has an efficient transportation network that complements its tourism growth as well.
Orlando's Increasing Job Opportunities
While improving the 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 a better economy for the city. 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 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. Orlando metro area is adding STEM jobs at a faster clip than the Bay Area metros. The Orlando–Kissimmee–Sanford MSA was ranked among Forbes’ 15 Best Big Cities for Jobs. They cited Orlando’s science, technology, engineering, and mathematics (STEM) job growth in recent years as one contributing factor.
Orlando's Rental Market
Thanks to a strong economy, Orlando's rental market continues to boom. It is #1 place in Florida to buy a profitable rental property. While tourism is one of the driving forces in the local economy, Orlando is also an important high-tech hub. 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. The soaring rental rates are good signs for real estate investors. Around 46% of the households in Orlando, FL are renter-occupied.
Rental Trends: According to RentJungle, as of July 2020, the average rent for an apartment in Orlando, FL is $1457 which is a 0.69% decrease from last year when the average rent was $1467, and a 2.06% increase from last month when the average rent was $1427.
- One-bedroom apartments in Orlando rent for $1284 a month on average (a 1.01% increase from last year).
- Two-bedroom apartment rents average $1524 (a 0.92% increase from last year).
- The average apartment rent over the prior 6 months in Orlando has increased by $50 (3.6%).
- One-bedroom units have increased by $61 (5%).
- Two-bedroom apartments have increased by $51 (3.5%).
The average size for an Orlando, FL apartment is 962 square feet with studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer more generous square footage. About 60% of the apartments can be rented for $1,500/mo or less. 26% of the apartments fall in the price range of $1,501-$2,000, and only 8% are as expensive as $2,000/mo.
Flexible Tax Laws
Investing in Orlando's 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 a 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, 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.
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, FL Real Estate Investment Opportunities
Maybe you have done a bit of real estate investing in Florida but want to take things further and make it into more than a hobby on the side. It’s only wise to think about how you can and should be investing your money. In any property investment, cash flow is gold. Speaking about Orlando's real estate market, it 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.
Good cash flow from Orlando rental property means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding the best investment property in Orlando in a growing neighborhood would be key to your success.
When looking for real estate investment opportunities in Orlando or anywhere in the country, the generally accepted standard is to purchase a property that will give you a modest but minimum of 1% profit on your investment. An example would be: at $120,000 mortgage or investment cost, $1200 per month rental. That would be the ideal equation for example. Even with rent increases, buying a $500,000 investment property in Orlando is not going to get you $5000 per month on rent.
When looking for the best real estate investments in Orlando, you should focus on neighborhoods with relatively high population density and employment growth. Both of them translate into high demand for housing. There are 98 neighborhoods in Orlando. Baldwin Park has a median listing price of $585K, making it the most expensive neighborhood. Rosemont is the most affordable neighborhood, with a median listing price of $106K, according to Realtor.com. If housing supply meets housing demand, real estate investors should not miss the opportunity since entry prices of homes remain affordable.
Here are the ten neighborhoods in Orlando having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com.
- Shiloh / Dummit Grove
- Boggy Creek Rd / Dowden Rd
- S Semoran Blvd / Curry Ford Rd
- E Colonial Dr / Barton Dr
- Manatee St / Hoffner Ave
- S Goldenrod Rd / Curry Ford Rd
- U of Central Florida / N Tanner Rd
- Omara Ct / S Goldenrod Rd
- Conroy Rd / Millenia Blvd
- Dorado Ave / San Juan Blvd
Florida is a great place to invest in real estate with several affordable and growing markets. The state will continue growing by more than 300,000 people a year and will top 22 million residents in 2022, according to a report posted online by state economists. That's equal to adding a city slightly larger than Orlando every year. The report estimated the population on April 1, 2018, at 20.84 million, with it increasing to 21.2 million on April 1, 2019. It is forecast to hit 22.2 million as of April 1, 2022, and be at 22.8 million on April 1, 2024. The population increases will primarily stem from “net migration” as people move into the state, rather than births, which are largely offset by deaths.
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.
While there are investment opportunities in the Florida housing market, major metros are some of the most popular choices, like Jacksonville, Orlando, Miami, St. Petersburg, and Tampa. The real estate in Tampa Florida has been estimated to grow rapidly during 2020. Investors are recommended to buy properties now and hold on to them until good price appreciation for maximum return on investment. The Tampa real estate market has been seeing constant development for the last two years, a trend that does not seem to be stopping any time soon.
Tampa has the headquarters of four Fortune 500 companies which makes it a moderately attractive city for work and economic growth. In addition to this, many entrepreneurs and small businesses are also making way to Tampa for the search for better prospects and lesser expenses for running their start-ups. Acquiring residential spaces is one of the earliest priorities for such professionals when they move here.
Tampa, FL has a very diverse economy with financial services, STEM, health care, research, education, tourism, beaches, and military bases all making significant contributions to jobs and growth. These factors make the Tampa housing market a hot destination for real estate investors in 2019.
You can also invest in another hot market in Ocala, Florida. Ocala is an affordable real estate market for investors who can still reap a decent return on investment. The area has recovered from the Great Recession, and several factors will insulate it from a future downturn. The Ocala housing market is buoyed by several near recession-proof industries.
It is quite affordable for investors compared to the rest of Florida markets like Tampa where the median home value is $221,500. The median home price in Ocala in 2018 was around $150,000. You can buy several homes in the Ocala FL real estate market for the price you would of one mid-market condo in the Miami real estate market.
Another market that we suggest is the housing market in Lakeland, Florida. The Lakeland housing market presents the perfect balance of currently affordable real estate for buyers and future growth. We can expect the population of the area to grow rapidly, and the renting population will grow even faster. The time to buy real estate in Lakeland is now.
While the Lakeland FL real estate market is cheaper than Orlando and Tampa, it is not a good overall value given the lower average wages of its residents. That explains why U.S. News and World Report gave the city an index score of 5.5 out of ten. This is due to the average resident earning around $23,000 a year, several thousand less than the U.S. average. Median household incomes are no better.
NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Orlando.
Consult with one of the investment counselors who can help build you a custom portfolio of Orlando turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Orlando.
Not just limited to Orlando or Florida but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Orlando turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.
Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
Is It The Right Time To Invest In Real Estate? – The national homeownership rate is on the decline for the first time since 2017. As demographics change and baby boomers retire, you’re seeing Millennials who may not be ready to buy houses. In 2018, Millennials made up about 22 percent of the population in the United States. They’re choosing to rent over buying a single-family home or an apartment. Rising home prices and shortage of starter homes have not left Millennials many choices but to delay homeownership. Moreover, it's even harder to take out a mortgage for those who have student loan debt.
Let us know which real estate markets in the United States you consider best for real estate investing!
Remember, caveat emptor still applies when buying a property anywhere. Some of the information contained in this article was pulled from third party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, the Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.
REFERENCES:
Market Prices, Trends & Forecasts
https://www.orlandorealtors.org/marketreports
https://www.orlandorealtors.org/marketresources
https://www.zillow.com/orlando-fl/home-values
Foreclosures
https://www.realtytrac.com/statsandtrends/fl/orange-county/orlando
Reasons to Invest in Orlando Florida
https://www.thebalance.com/the-best-places-to-invest-in-real-estate-4163978
http://www.noradarealestate.com/blog/best-cities-to-invest-in-real-estate-in-2018
https://www.mashvisor.com/blog/orlando-real-estate-market-new-investors
https://www.lee-associates.com/centralflorida/2018/01/15/5-reasons-to-invest-in-central-florida
https://news.orlando.org/blog/orlando-leads-nation-in-job-growth-four-years-in-a-row/
Was interested in this read until you quoted Zillow. Real estate professionals know Zillow is not the expert.
Hi Kimberly — We’re not big fans of Zillow either. But we use it as just one source from many. We actually use a propriety tool internally that is far more accurate. Thank you.