Which cities have the highest rental income?
The real estate market in Florida is focused on investors who buy housing and rent it out to numerous tourists who choose this state as a vacation destination.
There are many cities in the “Sunny State” where you can find great options for renting a property with upscale amenities. The official website Florida.RealEstate tells its readers about the 5 most attractive of them.
Sarasota
Sarasota is a city that is considered a paradise for families due to excellent living conditions and the cost of renting real estate, which remains more affordable than other cities in the state.
Key information about the housing market:
- the gross rental yield in the center of Sarasota is 6.88%;
- the gross rental yield outside the downtown is 13.74%;
- the cost of renting a 1-bedroom flat in the center is $2,137 per month;
- the cost of renting a 1-bedroom flat outside the downtown is $1,570 per month;
- the purchase price of an apartment in the center of Sarasota is $7,141/1 m2;
- the purchase price of an apartment outside the downtown is $2,411/1 m2.
Tampa
Tampa is another city that is suitable for buying a rental home. Tampa has a low unemployment rate, a fast-growing population, and a strong economy, which makes it an ideal city for living and doing business.
Key information about the housing market:
- the gross rental yield in the center of Tampa is 9.55%;
- the gross rental yield outside the downtown is 12.55%;
- the cost of renting a 1-bedroom apartment in the center is $1,633 per month;
- the cost of renting a 1-bedroom apartment outside the downtown is $1,087 per month;
- the purchase price of a flat in the center of Tampa is $3,481/1 m2;
- the purchase price of a flat outside the center is $2,007/1 m2.
Orlando
This city is famous for the large theme parks Disneyland and Legoland. It is a young city full of tourist attractions, much more chaotic than the previous 2 cities, but with a much higher rental cost.
Key information about the housing market:
- the gross rental yield in the center of Orlando is 10.43%;
- the gross rental yield outside the downtown is 15.80%;
- the cost of renting a 1-bedroom apartment in the center is $1,746 per month;
- the cost of renting a 1-bedroom apartment outside the downtown is $1,415 per month;
- the purchase price of a flat in the center of Orlando is $3,694/1 m2;
- the purchase price of a flat outside the downtown is $1,826/1 m2.
Jacksonville
Jacksonville is one of the top 50 cities in the USA. It is a city with a great history. Its population has grown by 8% over the past 5 years, and on average the cost of renting real estate is one of the highest in the United States of America.
Key information about real estate:
- the gross rental yield in the center of Jacksonville is 5.59%;
- the gross rental yield outside the center is 19.17%;
- the cost of renting a 1-bedroom flat in the center is $1,407 per month;
- the cost of renting a 1-bedroom flat outside the downtown is $1,101 per month;
- the price per square meter for buying an apartment in the center of Jacksonville is $5,102/1 m2;
- the price per square meter for buying an apartment outside the downtown is $1,211/1 m2.
Melbourne
Melbourne is located between Orlando and Palm Beach and is a tourist destination. There are many local and overseas investors interested in purchasing real estate here and turning it into a rental property.
Key information about real estate:
- the gross rental yield in the city center is 6.14%;
- the gross rental yield outside the downtown is 10.03%;
- the cost of renting a 1-bedroom apartment in the center is $1,325 per month;
- the cost of renting a 1-bedroom apartment outside the downtown is $1,316 per month;
- the price per square meter for buying a flat in the center of Melbourne is $4,563/1 m2;
- the price per square meter for buying a flat outside the downtown is $2,622/1 m2.
Start choosing real estate in Florida
Are you interested in apartments in Florida? The most attractive options at affordable prices are always available in the catalog at Florida.RealEstate. The local housing market is replete with attractive options. Now is the right time for you to get the benefits of buying a property in the sunny state. Check out the ads on Florida.RealEstate’s website to pick up the best properties. In the catalog, you will find excellent villas, penthouses and apartments with all the necessary amenities for a comfortable life in popular areas.
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