Florida continues to thrive as an excellent place to live and invest in. Even in 2021, its real estate market still booms as many investors consider several cities ideal for buying rental properties. These cities include Jacksonville, Orlando, and Tampa. Despite the economic disruption caused by the global pandemic, many still view housing in Florida as a worthy investment.The Sunshine State is rich in natural attractions with its world-class theme parks, beaches, and national parks. Coupled with its year-round sunny days and diverse economy, it truly is a beautiful place to be in. It has all the right reasons to be worth the investment, and there’s always more to explore.
Best Reasons Why The Real Estate Market in Florida is Still Booming in 2021
- Unemployment Rates Are Low. The economy continues to grow in the Sunshine State, and its unemployment rates remain low at 5.0% in August 2021. Compared to its peak of 11.2% in 2010, this is a massive improvement. Florida also ranks 5th in the US in high-tech employment, which is one of the world’s fastest-growing industries. Aside from the remarkable employment rates in Florida, it also has its merits as one of the country’s top business locations. It has an incredibly business-friendly government that attracts competitive, high-wage jobs.
- The Population Is Booming. Florida’s population grew from 18.8 million residents in 2010 to 21.5 million in 2020, and the population is becoming increasingly diverse—more so than any other time in US history. A mix of cultures and a cosmopolitan atmosphere makes the state a welcoming one, and the warm, mild temperatures make people want to stay. Reports also expect the population to grow by more than 700,000 residents over the next two years. Because the numbers only grow by the day, investing in Florida’s real estate market is steadily becoming more worth it.
- The Properties Come in Great Value. One of the biggest benefits of investing in the Sunshine State’s real estate market is that its properties come with more affordable prices compared to many other areas in the US. Mortgage loan solutions are easily available as well. Land development for residential communities remains stronger than ever, and Florida remains one of the best places to own land in the country.
- Tourism Remains Strong. It’s no secret that Florida is one of the most popular tourist destinations in the US, as the state has a lot of attractions to offer. Its beautiful coastlines, fun theme parks, rich museums, and pristine national parks make it an incredibly valuable place to visit on the holidays. Orlando particularly takes the lion’s share of tourism, and it’s one of the three Florida cities in Forbes’ Top 25 U.S. destinations to visit in 2020.
Get Mortgage Solutions in Cape Coral That Suit Your Needs
Florida continues to be one of the country’s best places to live and visit, even despite the recent economic downturns. For the reasons stated above, the Sunshine State remains thriving, and its real estate market will likely continue to grow as it’s one of the best places in the US to invest in.
If you’re looking for mortgage solutions for your investment property in Florida, let American Mortgage Solutions help. We provide investors with competitive loans to finance their dream homes. We help homeowners in Kentucky you can give us a call at (502) 327-9770 or in Florida please call (239) 766-8344, Tennessee, Colorado and Indiana to get more competitive rates and terms.