Updated and republished: 02/27/2020
Orlando and Central Florida, in general, are popular places to live; between extensive tourism and development and the excellent climate, there is consistent, substantial interest in moving to this area.
- This region is popular with retiring individuals who want to rent their homes, as well as young families coming in to take advantage of the exciting new job opportunities.
- New residents cover every demographic and background, so finding great tenants is more accessible than in many places in the country.
- If you're seeking to grow your portfolio with real estate, you'll have no problem finding a wide range of tenants.
Additionally, the area has a high retention factor compared to its neighbors in the Northeast. As an Orlando property manager, we've seen that the area is even drawing new residents internationally—which makes for no shortage of potential renters! With the population of Orlando projected to reach past 5 million in 2030, the demand for housing will only continue to grow.
With a window into the statistics of the region, it's no wonder that so many are seeking to invest in Orlando real estate! Here's some insight into our market from the best property management Orlando has to offer!
What Makes Orlando so Appealing?
The reasons that draw people to Orlando are just as diverse as they are—and are just some of the reasons why Orlando continues to be so attractive for new residents. These traits are also what makes the region so profitable for investors seeking to expand their holdings.
- Great weather and exciting natural wonders in Orlando make it attractive for snowbirds—as well as anyone ready to experience a warmer climate year-round. Temperate days result in far lower heating bills than in other parts of the country—a nice perk!
- The concentration of amusement parks and proximity to the beach allow people to see this area as a perfect combination of work and play—no need to "go away" for vacation when vacation is next door! This sometimes makes people more flexible on their rental budget, given the attractiveness of this location as a family-friendly entertainment hub.
- No matter what matters most to a renter, Orlando probably has it: luxurious living, high-quality education, even world-class dining options. It's not hard to sell your tenants on this area for their next rental home—and it shouldn't be hard for you to see yourself investing in real estate here.
- Golfing and lake communities—particularly popular among active seniors who are retiring to Florida—abound in this area. This frees investors to consider turnkey, move-in-ready homes that will wow potential tenants with their beauty and nearby amenities.
Of course, these are not the only reasons to invest in Orlando real estate!
The Orlando Area Is Still Evolving—and Growing
Orlando was a booming market a few years ago. As an Orlando property manager, we've seen that this growth has held steady—and even increased—in important ways.
- Forbes maintained their rankings, listing Orlando as not only the #1 city in the United States for investment in 2018 but in 2019 as well. They also recommended that investors jump on this market quickly!
- The average home price has jumped to $272,000, keeping target rental rates in a very comfortable zone.
- Orlando is experiencing some of the steepest job growth in the country (4.7%), which is keeping the demand for housing high and resulting in a 10% growth in home value.
- These numbers are exciting because the area has the room to continue growing at a sustainable clip, with average home prices not yet reaching the extreme heights of major East Coast cities.
- While Orlando's real estate market is no longer a "best-kept secret," its continued growth potential means you can still get in on the action in 2020—and see excellent returns over the coming years.
Orlando's city leadership can also take some credit for an excellent real estate investment environment. Orlando boasts a business-friendly atmosphere that benefits both the companies that set up shop and the investors who choose to participate in area growth.
With the active recruitment of significant players in the healthcare, manufacturing, construction, and financial services fields, Orlando has effectively bolstered the percentage of excellent jobs that are available in the area. The Orlando Business Journalpointed out that job growth has been sustained through all of 2019, and that these numbers bode well for industry and innovation.
After all, a thriving populace with substantial disposable income creates the opportunity for other businesses to make Orlando their home base.
Boost Your Portfolio With Orlando Real Estate
Being part of a new growth cycle is where you want to be as you choose the next location for your real estate investment plan. Purchasing a few properties and placing long-term tenants can be a challenge when you're trying to grow, which is why finding a great local partner is a major plus when you invest in Orlando real estate.
Orlando doesn't solely offer amazing real estate investment assets; it also hosts the property management partner you've been looking for to expand your holdings! As a professional property management company in Orlando, we have an inside edge on what tenants are seeking in area rentals.
With our in-house sales department, we can also help you find your next best investment! When it comes to exploring real estate from the lens of a long-term investment portfolio, you have the full support of an expert property manager to help you keep up with the demands of a growing list of tenants.
Turnkey real estate services that help you identify and obtain a quality investment property are just steps away when you work with the best property management company in Orlando! Let us show you why Verandah Properties should be your #1 choice!
Contact us for more information on how we can help you achieve your financial goals—and get your own slice of sunny Florida!
Broker/Owner Verandah Properties, LLC
For close to 25 years, Pamela and her team have managed their clients' investment portfolios, making them experts in the field. The Verandah Properties blog series is an invaluable tool for investors looking for guidance on property management, and their in-house sales division is key to helping investors purchase profitable properties.
First and foremost because Orlando is BOOMING! Forbes has currently ranked Orlando as the #1 city in the U.S. to invest in, in 2018 and beyond. Why? Here are some stats they have publicized: Average home price: $247,550, 3-year population growth: 7.6%, 2-year job growth: 7.1%, 1-year home price growth: 9% and 3-year price growth forecast: 35%. Those are some very impressive numbers.
Orlando's current property appraiser, Rick Singh, has recently publicized that Orlando is experiencing growth that reflects on average, 1,000 new residents per week. That is tremendous growth. Further, Orlando's city leaders have spent years enticing big business such as Health Care, Manufacturing, Construction & Financial Services, to name a few, to ensure that the job growth is one that supports quality, not just quantity. And finally, Orlando Business Journal ranks Orlando as having the fastest job growth amount U.S. metro areas. All of these indicators support why one should invest in Orlando.
If you're interested in a turn-key real estate firm that can not only help you identify and obtain a quality investment property but also help you transition into professional property management seamlessly, then Verandah Properties, LLC should be your #1 choice! As the best property management Orlando has to offer, we are proud to serve our property owners in this fine city and across Central Florida.