Why skilled workers are moving to Florida, and what it means for real estate investors
Learn why it’s a great time to own or buy an investment property in Florida
Florida’s population is growing!
While the U.S. population continues to grow due to both natural increase and international migration, it’s Florida that stands out from the rest of the states when it comes to domestic migration.
More Americans moved to Florida than any other state in 2018. According to the latest Census data, the Sunshine State had the highest level of net domestic migration in the last year, at 132,602. And this is a continuing trend: since 2010, Florida has gained a total of 1,160,387 people from net domestic migration.
The population of Florida grew by 1.5% between July 1, 2017, and July 1, 2018, and now stands at 21,299,325—the third highest in the United States!
Why are people moving to Florida?
The biggest appeal of the Sunshine State is right there in its name! With year-round good weather, Florida is very attractive to those looking to move to warmer climes.
Florida is also appealing due to the fact that there’s no state income tax. The cost of living is also often a lot lower than other U.S. states.
One of the biggest reasons for people to relocate within the United States is for a new job opportunity—and there are plenty of opportunities on offer for skilled workers in Florida. In Central Florida specifically, the job market is booming thanks to Orlando’s many growing industries, as well as new technological developments on the Space Coast.
What does this mean for real estate investors?
All of this is great news if you own or are looking to buy an investment property in Florida.
Skilled workers moving here from elsewhere in the United States will often rent before they buy a home. They may or may not be married and may or may not have children, so all types of properties—condos, townhouses, and single family homes—are equally in demand.
Because skilled workers usually have a well-paid job that provides stable income, they generally make excellent long-term rental tenants. They’re primarily looking for properties in areas that have good transport links, plenty of nearby amenities, and are located close to top-rated schools.
Looking to buy an investment property in Florida?
With over 1,000 successfully completed deals, you can trust the team at Florida Connexion to find you the ideal investment property that will bring years of reliable income. We are experienced in working with both domestic and international investors. Contact us today to learn more.
Already own an investment property in Florida?
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