MARKET & TRENDS
Fort Lauderdale, FL
LOCAL MARKET MONITOR
POPULATION GROWTH (3 YEARS)
JOB GROWTH (12 MONTHS)
HOME PRICES (12 MONTHS)
HOME PRICE (THOUSANDS)
MONTHLY RENT
LOCAL MARKET MONITOR
Lakeland
9%
3.3%
10%
$203
$972
Fine Again in Florida
Cape Coral-Fort Myers
8%
3.4%
4%
$271
$1,221
Punta Gorda
7%
3.3%
6%
$246
$1,016
by Ingo Winzer
Crestview-Fort Walton Beach
7%
2.6%
8%
$330
$1,067
R
ising sea levels may wash the whole place away in 50 years,
are great for good returns and mod- est risk. Just keep those rising sea levels in mind... Our Investors Metro Monitor shows you the risks and opportunities in 200 markets across the country, at www.LocalMarketMonitor.com. •
the national average. And rising home prices means there's plenty of demand for single-family homes and for rentals. Naples may be a bit expensive, but prices for investment otherwise are very reasonable. Baby Boomers still love Florida, and more will be moving there. You can rent to them, but a better bet is to rent to the large number of locals who provide the services they need. Stay away from the low end of the market and check in what price range you'll find the most renters. The 2008 recession devastated Florida real estate, but the stats make clear that we're well past that. In these 12 markets, your odds
Sebastian-Vero Beach
7%
3.2%
8%
$276
$922
but that doesn't mean investors can't make good profits in Florida right now. Stay away from the south — Mi- ami, Ft. Lauderdale, West Palm Beach — these places are already over-priced because of the influx of South American money fleeing instability at home, an old story. At some point that bubble will crash. Instead, look at these 12 markets where population growth over the past three years has been better than the U.S. average — in some places by a lot! The rate of job growth in many of these markets is twice
Port St. Lucie-Fort Pierce
6%
3.3%
8%
$261
$1,204
Naples-Marco Island
6%
2.4%
7%
$446
$1,403
Deltona-Daytona Beach
6%
1.6%
6%
$229
$1,096
Palm Bay-Melbourne
5%
3.7%
6%
$252
$1,067
Ingo Winzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in em- ployment and population. Winzer, who
Ocala
5%
2.6%
6%
$177
$883
has analyzed real estate markets for more than 20 years, was a founder and executive vice president of First Research, an industry research company that was acquired by Dun & Bradstreet in March 2007. He is a graduate of MIT and holds an MBA in finance from Boston University. Winzer resides in Cambridge, Mass.
Gainesville
4%
1.3%
7%
$231
$978
Pensacola-Ferry Pass
4%
2.0%
9%
$245
$1,002
Source :: Local Market Monitor, 2019
90 | think realty magazine :: september / october 2019
thinkrealty . com | 91
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