Florida’s Multifamily housing market is growing strong due to the population growth, high employment rate, and a strong tourism industry. And there aren’t signs of slowing down. Metro Orlando had over 48,700 jobs created just last year. No wonder why Metro Orlando leads in nation in rent growth. 2018 O Town, home of the Happiest Place on Earth, is expected to see a 4.5 percent rent increase!
Florida continues to be one of the fastest growing states in the country.
For those moving to a new city, Orlando was recently rated the top 6th destination. According to an article in the Orlando Sentinel, “It’s the second straight year Orlando has ranked sixth in one-way rentals for Penske customers. Atlanta topped the list for the second straight year, while Tampa/Sarasota is Penske’s No. 5 destination two years running.”
Orlando ranked at the top nationally for people moving in from 2011-15 along with three other Florida cities in the top six:
Fort Myers: 12.7 percent migration increase.
Sarasota: 10.7 percent.
Austin, Texas: 10.45 percent.
Orlando: 8.59 percent.
Charleston, S.C.: 7.88 percent.
Daytona Beach: 7.09 percent.
Migration increase measures the net effect of people moving into a metro area after subtracting those who moved out at the same time.
Retirement communities, Fortune 500 employers, universities and entertainment make Florida cities attractive to people on the move, Homes.com said.
Today’s apartments are healthier, smarter and more all-inclusive than ever before.
Multifamily housing residents are looking to reduce their energy cost, green building materials, as well as incorporating the latest high-tech device, where they can connect their phone to their home to check their energy consumption.
Mixed use developments often combine apartments with retail, commercial, cultural spaces and entertainment. Creating great resources and lively atmosphere within walking distance. These developments are often built close to grocery stores, public transportation, shops, restaurants, and office buildings, making them appealing for todays fast paced lifestyle.
SWET Construction Group is an industry leader in the construction and renovation of multi-family housing, apartments, condominiums and commercial building throughout the Southeastern United States, offering cost-effective plans.