Population Growth
The first explanation why the Orlando real estate sector is the strongest choice for a potential real estate buyer is in terms of demographic patterns. Orlando is considered to be the best metro city to invest in, due mainly to population growth. Population in the city is rising much higher than other cities in the United States today. Over the past three years, the population growth of Orlando has reached 7.3 per cent, making it a home for over 3.3 million residents!
Orlando Metro Area Population (1950-2020)
People tend to prefer Orlando real estate for a number of purposes. Located in Florida's Sun Belt area, Orlando is renowned for its warm environment, gorgeous beaches and world-famous theme parks. Many job seekers, pensioners and students make Orlando their home because it offers a high quality of life at a reasonable cost. In addition, Orlando attracted not only residents, but also tourists. In reality, the region draws approximately 75 million tourists per year, making it the most visited tourist destination in the US housing sector!
The increasing population inevitably results in a rise in investment opportunities in real estate in Greater Orlando. Such population patterns are expected to persist in 2020, which is a positive indication for a real estate developer dreaming about getting into Orlando's real estate market.
Orlando City Population Growth (1890-2020)
Strong and Growing Economic Center
As the housing market in Orlando continues to welcome more people, its economy continues to grow and is favorable to investors in real estate. Indeed, a thriving economy is the backbone of Orlando 's success in the real estate market. The state of Florida as a whole shows an increase in employment growth, and Orlando's employment growth, in particular, is better than most markets in the US housing market.
This growing labor market has added to Orlando's demand for real estate, increasing the value of homes. This is another reason why real estate developers find Orlando to be the safest area to invest in. In reality, Orlando's real estate market today is one of the best in the US housing sector. When you invest in a rental property in Orlando Real Estate, you guarantee tenants who are able to pay rent on a monthly basis on a regular basis, which also ensures a positive cash flow.
In addition, in real estate markets with better employment growth, a real estate investor can claim – and justify – higher rents for his or her real estate investment properties, which leads to a higher rate of return on investment.
The jobs segment of the Orlando real estate market is very strong and should continue to be a generator of supply and demand for real estate in the region. Indeed, Orlando Real Estate claims the highest rental income on the US housing market, almost twice as high as the San Francisco real estate market!
Variety of Options
The next explanation why Orlando Real Estate is the perfect choice for potential real estate developers is because the Orlando Real Estate Industry offers a range of investment property styles to choose from: from starter homes and cottages, to traditional residences, to exceptional luxury real estate investment assets.
Moreover, as has already been described, the Orlando real estate market draws not only long-term residents but also tourists. Orlando is the perfect destination for visitors because, according to Forbes, more than 75 million people from around the world visit the city every year due to its gorgeous weather, beaches and, of course, 5 of the 10 most popular theme parks in the world, including Disney World, SeaWorld Orlando and Universal Orlando Resort. It makes Orlando real estate ideal for investments in short-term Airbnb rentals, because it is fair to assume the real estate owners would not be deprived of future visitors.
However, in the Orlando housing sector, several communities are set aside for short-term Airbnb rentals, although others are not. This is not intended to stop you from investing in Orlando! If you're looking to invest in real estate in Orlando which can be used as vacation rental via Airbnb etc, just contact one of our experts to make sure your community enables you to do so.
In fact, the median price of residential property in Orlando is marginally lower than the national average – we'll go into more depth about that in another article. Therefore, whether you're trying to invest in real estate, Orlando appears to be the perfect option in the long or short term.
Millennials are a key contributor to the Central Florida Real Estate Market
When you are a millennial involved in investing in real estate, we invite you to explore the Orlando real estate industry more. As reported earlier, millennials, along with young businessmen, tend to migrate to the city owing to a healthy job market , low housing prices and high appreciation. Orlando is, in reality, one of the top six cities with the highest percentage growth of millennials. Indeed, this party is the guiding force behind the increasing growth in the future! So, if you're a successful real estate developer, hurry up to invest in real estate in Orlando before you lose out on major gains.
Capital Gains & Appreciation
Another reason for a potential real estate buyer to participate in the Orlando real estate industry is the pattern of appreciation. Real estate investment investments tend to gain faster on the Orlando real estate sector than on other housing markets throughout the world.
Orlando real estate price appreciation graph indicates growth of 4.4% till Feb 2021 (Source: Zillow)
Orlando Real Estate Summary
Orlando Real Estate tends to attract potential real estate buyers as more visitors migrate to the area as long-term tenants or short-term travelers. This ensures that a real estate developer has an opportunity to invest in either conventional or Airbnb rental assets. More and more people are adding to the rising job market and the increasing economy, rendering Orlando a desirable and enticing place for many real estate buyers. Both of these factors make it obvious that Orlando is one of the strongest places in the US housing sector to invest in real estate.
*references are available on request
