Florida real estate for investment

What type of properties are being purchased in Florida?

Three-quarters of all real estate transactions in Florida involve single-family homes.

In second place are condominiums, which account for about 15% of all transactions.

Townhouses come in third.

This decision by investors is quite understandable. Approximately 44 million Americans rent single-family homes, and rental prices are steadily increasing. From 2020 to 2024, the average cost of renting a single-family home nationwide will increase by 25%. Since supply is limited, at least purchase prices are not decreasing.

Judging by construction trends, Florida is staying true to its single-family home image. More than 75% of new constructions in 2024 will be single-family homes.

Around 25% of regular US property buyers wanted to move to regions with warmer climates last year. The most popular cities were Las Vegas, Miami in Florida, and Sacramento in California.

In 2023, Florida was the most popular US state to move to. However, most expatriates moved here from New York and Chicago.

The real estate market in Florida has experienced a boom in demand over the last three years.

Learn more about real estate prices in Florida in our next article.