If you are looking to invest in the real estate market, Florida is the perfect choice. Florida has always been one of the strongest real estate markets in the US. Its strong economy, high number of tourists and home values rising among other things, make Florida the perfect destination for your investment.
Home Values Increase
Zillow’s new figures show an increase on property value in the country. In fact, home values have increased by 4.64% from 2018 in the same period. The forecast for home values in the US shows an increase of 2.2% over the next year. However Florida’s forecast is even more positive showing an increase of 4.09% over the next year. [Source: Yahoo! Finance]
Low mortgage rate in Florida is one more positive aspect about this market. The current rate for a 30 Year mortgage is 3.57% which is lower than the National average. Nowadays mortgage rates in the US stand at 4.08%. This is a great chance not only for buying a property but also to sell it.
Landlord-software TurboTenant reported that the rapidly-expanding population and the rise in home values are setting Florida as one of the best markets for real estate investments in 2019.
Jacksonville was ranked in second place with its rental yields described as, “among the highest in the country”. Tampa came in third place, “easily one of Florida’s best markets to buy and own rental property,” because of high demand and affordable property.
(Sources: Florida insider and Florida trend)