Four Florida cities make the 2017 Forbes list of best cities to invest in housing

The Sunshine State Real Estate Market Update……

Four cities in the Sunshine State – all in the top 10 – made the 2017 Forbes list of best cities to invest in housing: Jacksonville (#2), Orlando (#3), West Palm Beach (#5) and Tampa (#7). The Local Market Monitor, author of the list resulting from the analysis of 300 housing markets, says that Florida’s continued strength is the biggest surprise of the list. As recently as 2015, seven markets in the state were undervalued by more than 20%, but builder constraint and job growth boosted the value of existing homes. The following narratives on each city came from the Forbes article based on data from 2012 to 2015, the most recent data available from all cities:

#2 – Jacksonville

Forbes_Jacksonville_2

Source:  Forbes, 2017 List of Where to Invest in Housing

 

The average home price in Jacksonville is $225,000, compared to $268,000 nationally. The three-year price growth forecast is 30% percent compared to 17% percent nationally. Homes here are undervalued by 8% compared to the historic ration of price and local income. Jacksonville claims 9% annual home price growth, 4.1% annual job growth and 5.1% population growth from 2012 to 2015.

#3 – Orlando:  

Forbes_Orlando_3

Source:  Forbes, 2017 List of Where to Invest in Housing

The average home price in Orlando is $219,000, compared to $268,000 nationally. The three-year price growth forecast is 28% percent compared to 17% percent nationally. Orlando boasts a growing economy –  7.2% three-year population growth and 4.4% annual job growth.

#5 – West Palm Beach:  

Forbes_West_Palm_Beach_5

Source:  Forbes, 2017 List of Where to Invest in Housing

The average home price in West Palm Beach is $313,000, compared to $268,000 nationally. The three-year price growth forecast is 28% percent compared to 17% percent nationally. West Palm Beach enjoys 11% annual home price growth, 1.9% annual job growth and 4.7% three-year population growth. Despite the major rise in prices, homes here are not yet over valued.

#7 – Tampa / St. Petersburg:  

Forbes_Tampa_7

Source:  Forbes, 2017 List of Where to Invest in Housing

The average home price in Tampa/St. Petersburg is $213,000, compared to $268,000 nationally. The three-year price growth forecast is 25% percent compared to 17% percent nationally. Home The area’s population grew 4.5% from 2012 to 2015. Last year, prices grew 9% and the job growth was 2.6%.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at  www.InvestmentPropertiesNetwork.com

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