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Florida Cities That Are Best for Real Estate Investing

A lot of people send me emails and direct messages asking locations in the US that are especially good for real estate investing. Each time it happens, I try to do my best to help people sort through the multiple options and make the best investment possible. Such an unexpected (yet pleasing) demand in my expertise made me think of writing a series of articles with the greatest real estate investment opportunities across the country. So here is one of them – my piece about top Florida cities for buying income property in 2019.

Below you’ll find my personal opinion on the most promising Florida locations for property investments as well as some expert comments from the industry professionals. Enjoy and feel free to ask questions in a comment section below.

Why Florida?

There are two major reasons that contributed to Florida’s growing potential as a real estate market. I’ll describe them both in details.

The first one is a stable growth of the job market. Although job growth in Florida is now happening at a slightly slower pace than, let’s say, a couple of years ago, the local job market is still one of the most up-and-coming nationwide. Unemployment rates in Florida keep on ticking down, which makes an increasing number of young professionals flock to the state in search of new career opportunities. Needless to say, this boosts the demand for long-term rentals in the state.

The second one is an intense real estate development that’s been taking place in Florida cities during the last few years. As the demand is what nourishes the supply, there is no wonder why local real estate developers miss no opportunity to make money.

According to the expert report published by Forbes earlier this year, Florida boasts the largest number of investment-friendly cities among other 49 states. Four out of 10 best cities for housing investment in 2019 are actually the cities of the Sunshine State.

Which particular cities are better?

If you’re on the lookout for outstanding investment opportunities, it wouldn’t be enough for you to limit your focus down to one particular state. To sort out the best deals out there, you’d have to take a closer look at the most promising cities of a chosen state.

Fort Lauderdale, FL

Average rental price: $2,122/mo
Median home value: $318,141
If you take a look at the above numbers, you’ll see why people choose buying over renting in Fort Lauderdale these years. While the rental price is one of the highest among Florida cities, median home value seems to be the average. Home prices in the city are projected to increase steadily in the next few years, which means now might be the very right moment for your property investment. One more thing you should know is that Fort Lauderdale has been leading entire Florida in job growth, which means more people are coming to the city long-term and looking for a place to call home.

Fort Lauderdale is simply the best part of Florida, the best location. With no more developable dry land left and a rapidly increasing population, significant appreciation in property values are all but inevitable. In addition, it is a very active, highly shopped market so when it’s time to cash out and sell you shouldn’t have any trouble.

Jim Esposito, Intercoastal Realty, Inc.

Tampa, FL

Average rental price: $1,829/mo
Median home value: $173,250
Last year, Tampa was called the second best city for real estate investments in the US. In fact, the entire Tampa Bay area is considered a good place for buying-to-let. As the local economy is improving steadily, Tampa boasts an increasing amount of bank-owned properties for sale (so there’s a lot to choose from). Now add to that a growing population fueled by recent improvements in a local job market, and you’ll get it why so many real estate investors have put their eyes on sunny Tampa.

Over the past several years, Tampa has consistently been in the Top 10 rental markets nationally. It has also seen double-digit value appreciation of single-family properties.  Tampa has very low unemployment, an amazing climate, world-class beaches, constant population growth, and is a cultural melting pot.

Matthew Nagy, Managing Member of Graystone Acquisitions, LLC

Jacksonville, FL

Average rental price: $1,061/mo
Median home value: $165,755
They say it’s statistical analysis and gut feeling what usually contributes to a good property investment. Since my relationships with intuition leave much to be desired, let’s just take a look at recent statistics. First and foremost, homes in Jacksonville grow in price by 9% annually. At the same time, Jacksonville boasts a 5.1% population growth and 4.1% job growth per annum. These numbers point unambiguously to one thing: Jacksonville is one of the most up-and-coming cities in Florida, and investing into local properties might be your best bet.

Orlando, FL

Average rental price: $1,327/mo
Median home value: $183,548
Yet another city that tops the list of ratings in the real estate investment world is Orlando. Along with a booming economy comes a stable growth in population and job market. And this means an increasing demand for housing. Orlando is first and foremost a vibrant city that manages to deliver on both fronts – remain a popular touristic attraction and build a reputation of the new business hub. Now add to that a strong (and steadily evolving) tech scene, and you’ll see why investing in Orlando is more than just a good idea.

Best cities for real estate investments in Florida (FL)

West Palm Beach, FL

Average rental price: $2,569/mo
Median home value: $250,784
Cutting a long story short, West Palm Beach is commonly referred to as one of the best beach cities for rental property investments. The local market is dynamic and characterized by a variety of housing options from highly-priced homes facing the ocean and relatively affordable ones deeper to the west. Reasonable prices and exceptional location are two things making West Palm Beach such a hot market for real estate investing.

Cape Coral, FL

Average rental price: $1,404/mo
Median home value: $215,201
What makes this city such a popular choice among real estate investors is an exceptional affordability of local homes. Here in Cape Coral, one can find a relatively new and nice home priced under $100,000, although the majority of properties on the market cost slightly more. What’s more, Cape Coral is good for vacation rentals (this place is especially popular among international tourists). You can increase your rental prices when the season is high, hence boost your landlord’s income.

Doral, FL

Average rental price: $1,937/mo
Median home value: $422,970
The last but surely not the least city you should consider investing in is Doral. Due to a healthy growth in a job market, a constantly growing population, and low unemployment rates, this north-central city attracts the attention of potential investors. The value of homes in Doral, Florida, is higher than in most of the cities statewide, and it is projected to grow in the years to come.

If you made it right to the end of the article and actually benefited from reading it, please accept my gratitude. I’m always happy to pass my knowledge and expertise to people who are looking for industry insights. If you’d like me to write about a particular state, please let me know about that. I’ll do my best to research the chosen region and deliver a high-quality report on local investment opportunities. Stay tuned!

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  1. Hi, thanks for the Florida info but do you have any information on Hilton Head, South Carolina. I am looking for an investment that a realtor or on site property manager can keep rented for me for a fee, of course. Do you have any ideas you can run by me? Thank you

    1. Hello Diane,

      The Average Market Rent in Hilton Head, SC is around $1,991 / per month. If we are talking about the Median Home Value in this area it currently is around $521, 444.

      Let us know if you are looking for any other info, we’ll try to dig it up for you!

  2. Florida is an amazing place for investing in properties. Not only for investment but for settling there too.