rental property for sale in Florida lowlands

TurboTenant Report: The Best Places to Buy Rental Investment Property in Florida

The Best 4 Places to Buy Rental Property In Florida

Investing in property has become a very safe and lucrative business for both novice and seasoned investors. If you are looking to enter the real estate market or expand your portfolio, we have the data to help you make the best decision. The TurboTenant Report includes curated data from studies on the best places to buy an investment property, median sale prices, and proprietary TurboTenant data – all designed to bring you the best cities to buy investment property. We’ve included data on the average number of days a rental property stays on the market, as well as the average number of leads per property. The key to increasing the ROI of an investment property is to limit vacancies and find a great tenant. These points will help you determine how fast and easy that might be. 

This month we will focus on Florida. Florida is the third most populous state in the U.S.,  and growth is on the rise. It has secured a top-five position as one of the fastest-growing states. We will highlight four of the best places to buy investment property in The Sunshine State.

The Best Cities to Buy an Investment Property in Florida

#4: St. Petersburg

Statistics about buying rental property in St.Petersburg
  • Population growth: 3.3%
  • Employment growth: 2.3%
  • Increase in home values: 14.6%

Median Sale Price: $225k as of July of 2019

Average Rent: $1356 for a 2 bedroom 

Average Number of Leads per Property: 26 

Number of days on the rental market: 22

#3: Tampa

statistics on buying rental property in Tampa
  • Population growth: 4.6%
  • Employment growth: 2.3%
  • Increase in home values: 13%

Median Sale Price: $246k as of July of 2019

Average Rent: $1245 for a 2 bedroom

Average Number of Leads per Property: 29

Average number of days on the rental market: 21

#2: Jacksonville

statistics on buying rental property in Jacksonville
  • Population growth: 3.1%
  • Employment growth: 3.2%
  • Increase in home values: 10.1%

Median Sale Price: $214k as of July 2019

Average Rent: $1025 for a 2 bedroom

Average Number of Leads per Property: 28

Average number of days on the rental market: 23

#1: Orlando

statistics on buying rental property in Orlando
  • Population growth: 4.8%
  • Employment growth: 3.5%
  • Increase in home values: 10.7%

Median Sale Price: $254k as of July 2019

Average Rent: $1329 for  2 bedroom

Average Number of Leads per Property: 34

Average number of days on the rental market: 19 

About the TurboTenant Report

The TurboTenant Report analyzes data from active listings across all 50 states, as well as third party real estate, population and employment growth data. Our goal with the TurboReport is to empower seasoned and novice investors to make wise purchasing decisions when purchasing a rental investment property. For more information or custom data requests, please contact [email protected].

Methodology: 

In order to determine the best cities to invest in each state, we curated data from a number of reputable sources as well as using TurboTenant proprietary data. Our main city selections were taken from a study that evaluated four main factors for each city: employment growth, population growth, increase in home values and rental yield. We combined that with TurboTenant data on the average rent price, the number of rental leads per property, as well as the average number of days the rental stays on the market. 

We also included an honorable mention where applicable, they are pulled from this study on the best places to invest in every state. These were determined using Zillow’s Buyer-Seller Index and Zillow Home Value Forecast, and AreaVibes’ Livability Score. Other methods for determining honorable mentions include using TurboTenant proprietary data to determine which cities return the best rental investment R.O.I. using data points including days on market, the number of leads per property, and average rent price.  

DISCLAIMER: TurboTenant, Inc does not provide legal advice. This material has been prepared for informational purposes only. All users are advised to check all applicable local, state and federal laws and consult legal counsel should questions arise.

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