Orlando, Florida's real estate market, is coined as one of the best places to invest in real estate. The Orlando real estate market is ripe for the many to benefit from owning and investing in real estate throughout Central Florida. Being involved in Orlando's real estate provides endless opportunities. Whether you are looking to buy your first real estate asset or are a seasoned real estate investor, the Orlando market should not get overlooked. The city is excellent for future real estate appreciation and increased rental rates. Orlando was recently rated by Orlando Weekly as the top place to buy real estate rental properties. This topic will dive deep into a standard question, locals and out of state real estate investors ask, "Is Orlando a good place to invest in real estate?"
Orlando Economic Outlook
If we look at population growth, Orlando is booming. At the Orange County Regional Economic Summit, there were staggering numbers for future population growth to the year 2030. Orlando Weekly states, the Central Florida region will have 5.2 million people calling the area HOME. With the future population growth projections, it is essential to correlate job growth alongside. From the years 2016-2019, Orlando achieved an 11% growth rate, according to the Orlando Business Journal. The city beautiful ranked #3 on AdvisorSmiths report analyzing the best cities with job growth. Beautifully quoted from CBRE, "Orlando's primary advantage was once looked at as a disadvantage, being landlocked and unable to leverage the coastline for economic development. Instead, Orlando is taking advantage of its central location, emerging as a place of high-tech manufacturing and as a distribution hub."
Orlando's tourism is one of the largest markets in the world. With so many people visiting, owning a short-term rental property may be the first thought. So is buying an Orlando short-term vacation rental property investments, a good or bad idea? That is for you to determine. We understand that every real estate investor has their own goals, and that is why the Orlando economic conditions make this market unique and a force to be reckoned with.
Here at The Listing, your professional Orlando property management company, we see population and the prospect pool for renters increasing as time goes on. These positive economic trends only help your real estate asset and protect positive rental increases.
Orlando Real Estate Statistics
The real estate market in Orlando, Florida is and will continue to look positive for potential real estate homeowners and investors. According to the Orlando Regional Realtor Association, the median home price of Orlando homes, which includes all types in February 2020, is $250,000, which is 6.4% above February 2019. The median list price per square foot in the Orlando real estate market, according to Zillow, is $163 per square foot. Home values grew by 4.8% this year and are forecasted to rise another 4.2% over the next year. According to Orlando Weekly, the average number of rental property prospects per rental listing is 34 leads and rentals stay on the market for an average of 19 days. With your rental property leasing in under 19 days, this puts more money in your pocket, not having 60+ days of a vacancy. As an Orlando property management company, we can tell you rentals go fast (this depends on the condition of the property, cleanliness, and accurate pricing); if you need assistance with rental property guidance, contact us.
Real Estate Diversity
Orlando, Florida is a very diverse and vibrant place, and we love the various real estate opportunities in the Central Florida market. Whether you are a single-family investor, first time home buyer, or multifamily real estate investor, you're all welcome. In some neighborhoods and areas, you can see fruitful cash-flowing opportunities. We have real estate investors from across the globe, purchasing properties in the Orlando market from resort-style HOA communities to multifamily apartments. Our real estate investors see the benefits of owning rental property in Orlando and for good reason.
Property Management Conclusion
Orlando, Florida, is being named the best rental market in the nation, and as property managers in Orlando, we couldn't agree more. The economic outlook, property appreciation, and rental rate increases all provide a sound real estate investment. At The Listing Real Estate Management, we help real estate homeowners, and real estate investors create wealth through rental property assets. We are your trusted guide for property management in Orlando.