The recession knocked the wind out of the real estate industry across the country. From small towns to large, metropolitan areas, the real estate industry

What are the best places in Florida to buy rental property?

Thanks for the A2A!

2019 is expected to be a strong year for the Florida real estate market. Known as the Sunshine State and renowned for its beaches and beautiful ocean views, Florida has quite a lot to offer for property investors. Across the state, a perfect combination of demand, economic growth, and other factors make buying rental property in Florida a great investment. In the yearly PwC’s “Emerging Trends in Real Estate” report, Florida earned three spots in the top 10 markets to watch in 2019.

Buying Rental Property in Florida Can Make for a Great Investment in 2019

So, here are the 3 best places in Florida to buy rental property:

#1 Orlando Real Estate Market

Orlando is attracting more real estate investors and people who choose to move there. Thanks to its picturesque beaches and high quality of life, Orlando is proving to be a secure real estate investment location for local and international real estate investors alike. The Orlando real estate market is supported by a low unemployment rate of 2.9% and a population growth of 3.2% since last year. These important economic indicators are proof of a healthy real estate market. Additionally, the Orlando housing market prices have appreciated 6% since last year, making it one of the top 3 best places in Florida to buy rental property in 2019.

The following are the latest Orlando real estate market stats according to data from Mashvisor:

  • Median Property Price: $323,826
  • Price per square foot: $172
  • Airbnb Rental Income: $2,256
  • Traditional Rental Income: $1,588
  • Airbnb Occupancy Rate: 59%

#2 Tampa Real Estate Market

The Tampa real estate market is gaining popularity among investors due to a strong local economy, rapid population growth, and a low unemployment rate of 3.4%. Thanks to its strong and diverse economy, the Greater Tampa Bay area is ranked among the fastest growing metro areas in the US, which goes hand in hand with a boom in the housing market with billions of dollars of investments in residential and commercial real estate. Florida’s friendly rental laws also helped Tampa become one of the best places in Florida to buy rental property.

  • Median Property Price: $361,876
  • Price per square foot: $190.10
  • Airbnb Rental Income: $2,572
  • Traditional Rental Income: $1,669
  • Airbnb Occupancy Rate: 53%

#3 St. Petersburg Real Estate Market

St. Petersburg is home to diverse industries and a place where thousands of people want to live. The city finally made the PwC’s list of top markets to watch for the first time this year! Not only does St. Petersburg have a variety of potential real estate investment projects, neighboring communities like Tampa and Clearwater also add to its overall appeal. Reasonable property prices, consistent growth, and a robust economy provide excellent opportunities for real estate investors in St. Petersburg, making it one of the best places in Florida to buy rental property in 2019.

  • Median Property Price: $387,119
  • Price per square foot: $225
  • Airbnb Rental Income: $2,036
  • Traditional Rental Income: $1,661
  • Airbnb Occupancy Rate: 55%

Source: 2019 Will See These 3 Cities in the Florida Housing Market on Top

Good luck!