Orlando Investment Property for Sale - 2023 Rental Home Appreciation
In central Florida, Orlando has been a popular vacation destination for decades. Top-rated theme parks, nearby beaches, and beautiful year-round weather are primarily to thank. Thousands of tourists visit Orlando each year with an endless array of fun things to do. Countless others, young professionals, families, and retirees alike, relocate to the area, making Orlando home.
Nicknamed "The City Beautiful," Orlando has a thriving real estate market. With limited inventory and home appreciation rates above the national average, home sales in Orlando are predicted to be on an upward trend for the foreseeable future, making the area a wise choice for homeowners and real estate investors looking for Orlando investment property.
Orlando's Attractive Housing Market
Home values in the Orlando area are booming due to the above-average public schools, plentiful job opportunities, and the cost of living substantially below the national average. Coupled with the fact that the area is culturally diverse and offers unlimited choices for recreational activities, Orlando is gaining new residents at a consistent rate. Here are a few of Orlando's most popular neighborhoods:
- Davenport: A small town outside Orlando, Davenport is experiencing rapid growth. It's an attractive location for tourists to stay while spending their time at the area theme parks, like Sea World and Walt Disney World.
- Windermere: This luxury suburb of Orlando is one of the most affluent communities in Florida. Windermere offers many lakefront properties, a quaint downtown area, and a top-rated golf course.
- Lake Nona: A cutting-edge community committed to progress and development, Lake Nona is known for its technological advances and medical education and research. By making well-being and partnership a priority, the population of Lake Nona has exploded in recent years.
- Winter Park: A nearby suburb of Orlando, Winter Park has something for everyone, including award-winning restaurants, museums, and some of the area's best shopping. A popular location for outdoor enthusiasts who enjoy the surrounding parks' gorgeous lakes.
Other areas in Orlando worth checking out include:
- Clermont - a popular suburb for retirees
- Oviedo - a historic city in Seminole County
- Kissimmee - a town on the shore of beautiful Lake Tohopekaliga
Rental Home Appreciation in Orlando
Over the past several years, Orlando has been ranked as one of the best places to buy a rental property. With an Orlando property management firm on board, renters can trust that they'll be well taken care of no matter the weather or issue, which is quite the relief to some.
The Orlando real estate market is flourishing based on reports of cash flow, affordable home prices, and a growing population and job market. While single-family homes and townhomes are popular with renters, multifamily properties, like condos and apartments, are most in demand.
The hot rental market in Orlando shows no signs of slowing down anytime soon. Investment opportunities abound in Orlando, FL, including short-term rentals, like vacation homes, and long-term rentals occupied by area residents. With a persistent shortage of viable housing and increased property taxes throughout the state, rental income for investors is at an all-time high.
Economic Growth in Orlando
The population of Orlando is on the rise. The area welcomes an estimated 1,000 new residents each week, and that's been the case for the past several decades.
The continued population boom can be attributed, at least in part, to a growing, diversified job market. In recent years, Orlando has been a steady leader in job growth. The top employers in the area are Walt Disney World and Universal Studios, Walmart, Orange County Public Schools, and the State of Florida government.