Real estate in 2019 is a hot commodity, with a variety of markets around the nation seeing substantial demand for both rental properties and home ownership. Those who are seeking to purchase a home – as well as those looking to break into the rental property market – have many choices to consider from a geographic perspective.
One notable example where housing is in substantial demand is Florida. Currently the third largest state and growing by roughly 300,000 people every year, several housing markets within the state are experiencing growth both in terms of value and overall construction.
However, not every part of Florida is ideal for buying real estate. Where should home owners be looking? Let’s take a look at the best cities in which to buy real estate in Florida in 2019.
One of the best examples of rapidly-growing Florida real estate markets, the city of Tampa provides those in the market for real estate with many unique options. With the city’s economy and employment sector growing at roughly two percent per year, the demand for housing continues to increase. Any Tampa Bay realtor will tell you that this city is one of the most opportune real estate markets in the state currently.
For those in the market for a new home, a variety of affordable options still exist throughout many of the city’s neighborhoods. Likewise, those who are looking to invest in rental properties can make a killing, as the influx of new residents is driving huge demand for rental homes and units.
Those who want to find truly affordable housing options that are appreciating in value rapidly need look no further than the city of Orlando. While much of Florida’s prime real estate market is driven by beach-front properties and seaside communities, the state’s largest land-locked city is attracting a plethora of new residents.
Growing at roughly three times the national average, many move to Orlando due to the service sector. However, the relatively affordable housing options available throughout the metro are attractive to families and individuals from all walks of life.
Looking for real estate options in Florida provides many cities with great growth, strong communities and robust economies. However, finding all of this alongside an affordable housing market where properties are rapidly increasing in value can be challenging. The presence of all of these elements is why many people are looking at Jacksonville for their next home in 2019.
Those seeking to rent out properties will be happy to know that rents in Jacksonville are increasing more rapidly than almost anywhere else in Florida. With median property prices roughly one-third below that of the national average, anybody in the market for a home will have a hard time saying no to Florida’s largest city.
Last but not least, Pensacola is often overlooked due to its geographic location; far away from cities such as Miami and Orlando, many haven’t considered this valuable housing market. Due to the larger than average impact from the housing collapse of the past decade, median home and rent prices in Pensacola remain roughly one-quarter below the national average, making it an appealing option for families seeking to buy their next home.
With hundreds of cities and towns in Florida, picking the right one for your next real estate purchase can be challenging. While your choice may be impacted based on whether you’re investing in real estate or looking for a personal home, these four cities offer various benefits to all and can easily be considered the best Florida cities in which to buy real estate in 2019.