Orlando’s Real Estate 2018 Overview
This area has produced some impressive results for real estate investors already and this trend is likely to continue into 2018. To date, property prices are up, appreciation rates are increasing steadily, and the cost of living remains below the national average.
Orlando is the fourth largest city in the state of Florida and the 73rd largest city in the United States. Located in Florida’s “sun belt” region, this city is known for its warm climate, beautiful beaches, and even more so for its world famous amusement parks, entertainment, and attractions.
With a combined population of 3.3 million residents, Orlando’s real estate market is fueled by job seekers, baby boomer retirees, and students who want to live in a “cheap and cheerful” area that offers a high quality of living at a reasonable cost. For investors looking to invest in real estate, these are good signs.
Orlando’s employment growth is among the best in the U.S. with 173,900 jobs created since the recession and a growth rate of 4% per year.
Why Invest in Orlando?
Orlando offers great opportunities for buy and hold real estate investments today. This is especially true for investors looking to invest in one of the most quickly growing economies in the nation while prices are still below their pre-recession peaks.
Today the median price of three bedroom single family homes in the Orlando metro area is $188,000. This is just slightly higher than the national average of $187,000.
This shows us that while property values in Metro Orlando are more expensive than other U.S. markets today, it’s still possible to purchase single family homes below the national average.