Invest in Orlando, this city is one of the most visited destinations in the world, and Florida real estate is primed to climb in value over the next several years. These 6 reasons will help you make a more informed decision on exactly why looking at an investment in Central Florida could be an absolute game changer for you and your family.
Orlando Has A Thriving Tourism Industry
Orlando, often dubbed as “The Theme Park Capital of the World,” is home to globally renowned destinations such as Walt Disney World, Universal Studios, and SeaWorld. Millions of people visit Orlando each year to experience the thrilling rides, attractions, and shows at these theme parks. However, Orlando has much more to offer beyond the theme parks. The city has a thriving arts and culture scene, with numerous museums, galleries, and theaters. The Orlando Museum of Art showcases a vast collection of American art and artifacts, while the Dr. Phillips Center for the Performing Arts hosts a variety of cultural events, including ballets, musicals, and concerts. Nature lovers can enjoy the lush parks and gardens in the city, such as the Harry P. Leu Gardens, featuring over 50 acres of tropical plants. The city also has several lakes, riverfronts, and nature reserves, ideal for outdoor activities like kayaking, fishing, and hiking. Orlando is also known for its diverse culinary scene, offering a range of international cuisines from Latin American to Asian. The city has a lively nightlife, with various bars, clubs, and live entertainment venues. Overall, Orlando has something for everyone – from theme parks to nature trails, from cultural attractions to culinary delights.
Annually, the city welcomes millions of tourists, generating a constant demand for vacation rentals and other accommodation options. This thriving tourism industry presents an excellent opportunity for investors in short-term rental properties.
Population and Economic Growth (A Real Estate Market That Grows)
Orlando is one of the fastest-growing cities in the United States. The city’s population has been on a steady upward trajectory for several decades and is projected to continue to grow in the coming years. According to the U.S. Census Bureau, the population of Orlando was 238,300 in 2000. By 2010, it had grown to 238,300, an increase of over 20%. By 2020, the population had increased to an estimated 289,000. One of the main reasons for Orlando’s growth is its strong and diverse economy. The city is home to many large corporations, including Walt Disney World, Universal Studios, and SeaWorld. Orlando is also a hub for technology and research, with numerous companies and research institutions calling the city home. In addition to its strong economy, Orlando is known for its warm weather, beautiful beaches, and world-famous theme parks. These factors make Orlando an attractive destination for tourists, retirees, and young professionals alike. As a result, the city’s real estate market is booming, with new residential and commercial developments popping up all over town. Despite its growth, Orlando remains a vibrant and diverse city with a strong sense of community. Whether you’re a resident, a visitor, or just passing through, there’s always something new and exciting to discover in this rapidly growing metropolis.
In addition, the quality of life, lower cost of living compared to other major US cities, and flourishing job market. As the population grows, so does the demand for both rental and owned housing, making real estate a sound investment.
If you’re looking for the best way to navigate the Florida real estate check out our free guide
Robust Job Market: (Fortune 500 Companies Invest In Orlando)
The economic landscape of Orlando is diverse and robust. While tourism is the city’s main economic driver, sectors like healthcare, technology, and aerospace also provide a significant number of jobs. Tourism has long been the backbone of Orlando’s economy. The city is one of the world’s most famous tourist destinations, with attractions such as Walt Disney World, Universal Studios, and SeaWorld drawing millions of visitors every year. The tourism industry employs a large portion of the city’s workforce, offering jobs in hotels, restaurants, attractions, and transportation.
Aside from tourism, healthcare is also a significant contributor to the Orlando economy.
The city is home to several major hospitals and medical centers, as well as numerous clinics and healthcare facilities. The healthcare industry provides a wide range of jobs, from doctors and nurses to administrative staff and support personnel.
The technology industry is another growing sector in the Orlando area, with several tech companies and startups establishing their presence in the city. These companies focus on fields such as software development, cybersecurity, and digital media, offering well-paying jobs to skilled workers. Lastly, Orlando has a thriving aerospace industry, with companies like Boeing, Lockheed Martin, and NASA having a significant presence in the area. These aerospace companies provide highly skilled and specialized jobs, including engineers, scientists, and technicians. In summary, the economic landscape of Orlando is diverse and dynamic, with tourism, healthcare, technology, and aerospace being the prominent sectors. This diversity ensures that the city’s economy stays vibrant and resilient, even during economic downturns.
Just a bonus, as Orlando’s job market expands, so does the demand for residential real estate, contributing to increased property values and rental rates. Easy wins!
Affordable Property Market: Central Florida’s Housing Market Cost is Reasonable by Comparison to other Major Cities
Despite the growth, Orlando’s real estate remains reasonably affordable compared to other popular markets.
This makes it an attractive prospect for investors, as there is a strong chance of achieving high rental yields and potentially significant capital growth over the long term. In fact, according to data from Zillow, the median home value in Orlando is currently around $269,000, which is considerably lower than other popular Florida cities such as Miami and Tampa.
Additionally, there are a number of affordable pockets within the wider Orlando region, particularly in the suburbs and outlying areas. For example, areas such as Kissimmee, Ocoee, and Winter Garden offer a range of affordable homes and strong tenant demand, making them ideal for those looking to achieve strong returns on their investment.
Overall, while Orlando’s real estate market has seen strong growth in recent years, the city remains an affordable destination for property investors, with a range of opportunities available for those willing to do their research and invest strategically.
As the barrier to entry is lower, and the potential for profit, given the steady demand and appreciation, is considerable.
Outstanding Infrastructure (That Makes Orlando A Prime City To Invest in Now)
Orlando boasts excellent infrastructure, including a comprehensive road network, the Orlando International Airport – one of the busiest in the world, and a top-tier educational system. In addition to these, Orlando also has a well-maintained public transportation system that includes buses, trains, and taxis.
The city is also home to several world-class hospitals and medical centers, making it a hub for healthcare. Moreover, Orlando is dotted with several sports complexes, theme parks, and recreational facilities that make it an ideal destination for sports enthusiasts and travelers looking for a fun-filled vacation.
Also, the city has a thriving business community, with several multinational companies having set up their operations here. Orlando’s diverse economy includes industries such as aerospace and defense, tourism, healthcare, and advanced manufacturing. All of these factors combine to make Orlando a highly desirable city to live, work, and visit.
This well-developed infrastructure enhances the quality of life for residents, making the city a more attractive place to live, work, and invest in.
Warm Climate and Attractive Lifestyle
Okay we are not kidding when we say Orlando is sunny, and it’s warm a good percentage of the year, and we’d consider it hot the rest of the time to be absolutely hot.
If you’ve you’e been looking for a warmer climate, you’ve absolutely struck gold if you’re considering Orlando.
The weather here is a huge draw for both full-time residents and vacationers. Coupled with diverse cultural offerings, outdoor recreational activities, and a vibrant nightlife, the city’s lifestyle is a significant factor in the increasing demand for real estate.
People who live up north might find these temperatures to be more extreme, but give it a little time and Orlando’s charm will be sure to show you why so many people consider this place to be among the be cities on earth.
Just a warning, bring your bathing suit because these summers are hot!!!! If you’ve been running from the cold this place is an absolute dream.
In conclusion (If you’re looking to invest, the market trends say Orlando Real Estate is a absolute Gem)
Orlando, Florida, with its thriving tourism, growing population, robust job market, and affordable real estate, presents a compelling opportunity for real estate investment.
As an investor, you can benefit from the city’s continued growth and the resulting demand for housing. Just like any investment, it’s essential to conduct thorough research and possibly work with a local real estate expert to find the right opportunities that align with your financial goals.
If you’re looking for the best way to navigate the Florida real estate check out our free guide