With year-round sunlight (thus the nickname “The Sunshine State”) and world-class theme parks, Florida is a popular worldwide tourist destination. That’s why it is good to consider our Florida Land Auctions Online to find a property in Florida. In addition, it is home to dozens of global business headquarters and is known for its pro-business and pro-development government and a vibrant and varied economy.
Its flourishing real estate market is attracting investors from around the world. Be it short-term investment goals or long-term plans, Florida’s real estate has opportunities for all types of investors.
In this article, we will discuss the main reasons why you should immediately start considering investing in Florida and how you can easily make your investments in its real estate.
What makes Florida a great option for real estate land investment? Stats and Figures
Florida is one of the hottest real estate markets for several reasons. First, the Gulf of Mexico, the Atlantic Ocean, Alabama, and Georgia all border the state and make it one of the most attractive tourist destinations in the world.
Here are some reasons that make Florida a great investment opportunity –
Since 2010, Florida has added about 2.7 million new citizens, making it the third most populated state after California and Texas. Florida’s population has increased by 14.6 percent in the last decade to over 21.5 million people and is expected to attract 845 new citizens every day during the next few years with a 1.39 percent annual compound growth rate.
According to U.S. News & World Report, the top ten fastest-growing places in the United States in 2021-2022 are all in Florida. Miami-Dade, Broward, Hillsborough, Orange, and Palm Beach counties will have more than 1.6 million citizens in the next ten years as per predictions.
Another significant reason that makes Florid a promising investment site is that the state is being promoted as an attractive business site.
Florida’s proactive, pro-business government is proficient at drawing new high-wage opportunities for workers who can compete globally. Also, Florida’s GDP is more than $1.1 trillion and has increased by more than 48% in the last ten years. According to reports, job growth in Florida climbed by 5.4 percent between January and September 2021, compared to just 0.8 percent overall.
The best part is Florida has a low unemployment rate of 4.6 percent, with the leisure and hospitality, information, and professional and business services sectors being the most prevalent industry domains.
According to figures, Florida gained 84,500 total jobs in September 2021 alone, continuing its impressive trend of employment development. Also, Job growth is evenly distributed across the state, with new positions being added in nearly all major employment sectors in all major metro areas.
Education and Workforce
Florida has a civilian labor force of about 10.6 million workers, more than Sweden’s whole population. Also, Florida’s workforce is ranked #1 in innovation, #3 in size, and #4 in workforce training and high-tech employment in the United States.
The University of Central Florida, Florida International University, University of Florida, University of Miami, and Florida State University are among the almost 160 colleges and universities in the state. According to Census Reporter, about 31% of Floridians have earned a college diploma.
With 15 deep water seaports, two spaceports, more than 12,000 miles of motorways, and approximately 3,000 miles of freight rail track routes, Florida’s modern infrastructure is ranked second in the United States.
The four busiest airports in Florida are Orlando International (MCO), Miami International (MIA), Fort Lauderdale International (FLL), and Tampa International (TPA), which handle roughly 68 million passengers yearly.
Quality of life
People choose to live and work in Florida for a variety of reasons. With outstanding economic prospects and near-perfect weather, culture, and recreation, the state provides an almost ideal work-life balance.
Florida is one of just eight states without a personal state-level income tax. It is ranked as the 10th greatest state in the country by the U.S. News & World Report, with top ten rankings in education, economy, and fiscal stability. Summer highs of 81 degrees and winter lows of roughly 60 degrees characterize the climate in the Sunshine State.
Furthermore, all Florida inhabitants live within 50 miles of a community or state college or university, demonstrating the state’s commitment to education. In addition, more than 1,300 golf courses, hundreds of miles of white sand beaches, a plethora of outdoor recreation activities, world-class amusement parks, global retail centers, and numerous sporting events can all be found in Florida.
The best part is Florida’s cost of living is around 2% lower than the national average.
Florida Real Estate Market
According to this November 2021 article from WFLA, home sales and prices are increasing in Florida. At the same time, the inventory is decreasing, and the number of customers paying cash for single-family homes has climbed by nearly half. In fact, housing prices in every metro region in the state have risen by double digits.
Florida Real Estate Stats
- The median property value in Florida is $328,576. (as of Oct. 2021).
- The median property value in Florida has increased by 23.9 percent in the last year.
- Home values in Florida have soared by roughly 69 percent in the last five years.
- According to the most recent report from Florida Realtors, single-family home prices in Florida are up 17.7% over the previous year as of October 2021.
- In Florida, the median time to contract for single-family houses is only 12 days, which is the time it takes to receive a sales contract after being listed.
- Active listings for single-family houses were down nearly 30% year over year at the end of October 2021, with inventories at a low 1.3-month supply.
- Key real estate market statistics for Florida differ by region, so be sure to look at marketplaces in cities like Miami, Naples, Tampa, Orlando, Tallahassee, and Jacksonville.
Invest in Florida Land Auctions Online
Are you ready to make a move into the Florida real estate market? Then, all you have to do is go to Auction Flippers and find a Florida investment property that meets your requirements.
Auction Flippers will let you know every detail about the land property, Florida Land Auctions Online and help you in every step, from bidding to acquiring your next home.