March 9th, 2019
Where are the best cities to own multi-family housing in Florida? With the increase in hospitality and medical industry, combined with retiring Baby Boomers, converts to more people flocking to the beautiful Sunshine State.
Which makes owning apartments and multifamily housing a great investment.
According to Forbes, In the country, Tampa healthcare jobs are ranked in the top 10 fastest growing occupations.
“The trajectory of Tampa’s population growth is very conducive to potential future property owners. Since 2013, Tampa’s population has risen by an impressive 12%, one of the highest rates in the country. With a local economy worth well over $130 billion, Tampa is easily one of Florida’s best markets to buy and own rental property.”
Jacksonville’s population growth is also on the rise.
The flourishing biological science and healthcare sector is a big part of why the average rental yield is so healthy and among the highest in the nation.
“The city’s 2.6% increase is better than the national year-over-year average of 0.5%. Specific markets within the Jacksonville metro area, such as Butler Beach, are displaying rent growth rates in excess of 10%.”
Orlando the ‘City Beautiful’ is outshining in population and employment growth.
The employment rate surged 4.3% from 2017 to 2018, almost three times the average growth in the United States.
“Rents grew 2.3% in the last year, which is well ahead of the U.S. overall growth rate. Rent yield in Orlando is markedly higher than in most other cities. Comparatively low home prices combine with relatively higher rent prices to create a city that is especially suitable to owning rental property.”
SWET Construction Group is a leader in new construction and renovations of multi family housing industry.
Partnering with us will not only keep your construction costs low while achieving a beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
We encourage you to contact SWET Construction Group to discuss your building project.
Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project.