{"id":3579,"date":"2021-04-01T13:20:15","date_gmt":"2021-04-01T13:20:15","guid":{"rendered":"http:\/\/www.swetconstructiongroup.com\/blog\/?p=3579"},"modified":"2021-04-01T13:20:15","modified_gmt":"2021-04-01T13:20:15","slug":"florida-multifamily-housing-construction-renovations","status":"publish","type":"post","link":"https:\/\/swetconstructiongroup.com\/blog\/florida-multifamily-housing-construction-renovations\/","title":{"rendered":"Florida Multifamily Housing Construction & Renovations"},"content":{"rendered":"

Whether you are an owner, or manager, investing in multifamily rental property is very lucrative. Money Crashers analyzed several 2021 key real estate data points for investment purposes, including gross rent multiplier, rent index, home price growth, and home value index.\u00a0<\/span><\/p>\n

In 2020, multifamily housing in the Southeastern United States<\/a> turned out to be an exceptional year for investors. What should you expect in 2021?<\/p>\n

According to recent reports from Florida Realtors, the hottest real estate market for 2021 is Florida! The \u201cSunshine State\u201d is very diverse and dynamic, with world renowned theme parks, beautiful beaches, growing economy, and home to many global business headquarters.\u00a0<\/span><\/p>\n

A news release from Tampa\u2019s WFLA Channel 6, Florida\u2019s population is expected to grow exponentially. With an average of 906 residents per day between now and April 1, 2024. Over the next two years, the population in Florida is anticipated to increase with over 7000,000 new residents.\u00a0<\/span><\/p>\n

\"\"Florida\u2019s rental market is red hot<\/strong><\/p>\n

As many continue to work remotely and the job market in Florida is growing, the demand for multifamily housing is also increasing.\u00a0 <\/span><\/p>\n

The latest statistics show the average rent in Florida is $1.35 per square footer about $1,790.<\/p>\n

Which is 8.5% higher than the average rent in the United States.\u00a0<\/span><\/p>\n

The best cities for renal properties in 2021 according to Money Crashers<\/a><\/strong><\/p>\n

Orlando, Florida\u00a0<\/span><\/strong><\/p>\n

Orlando is booming economically, with an outstanding 3.46% jump in jobs year over year. Population growth and rent growth look equally impressive.Located in Florida\u2019s central Sun Belt region, Orlando caters to a massive tourist industry, migrating retirees, and offers plenty of jobs for young adults. It doesn\u2019t hurt that there are lots of beaches within easy driving distance.<\/p>\n

Charlotte, North Carolina<\/strong><\/p>\n

The greater Charlotte metro area also boasts excellent job and population growth. One reason is that it\u2019s a business-friendly city \u2013 the third best city in the country to start a business in, according to CNBC<\/a>.<\/p>\n

As home prices have risen, the gross rent multiplier has also risen, making the city less attractive to rental investors in the last year or two. Still, all signs point toward continued growth and demand in this surging city.<\/p>\n

Tampa, Florida\u00a0<\/span><\/strong><\/p>\n

With strong tourism, a range of Fortune 1000 companies, and beautiful beaches, Tampa benefits from both an influx of well-off retirees and a pipeline of young graduates from the University of South Florida. That combination has led to a ballooning population growing nearly three times faster than the national average.<\/p>\n

Job growth is healthy and unemployment is low, although the citywide gross rent multiplier is nothing special. While home values aren\u2019t exactly a bargain, they still clock in below the national average.<\/p>\n

Jacksonville, Florida<\/strong><\/p>\n

Are you noticing a trend with all these Southern and Southwestern cities? Beyond being warm and sunny, another reason for Florida\u2019s popularity might be that it joins Texas among the few states that impose no income tax.<\/p>\n

Jacksonville also benefits from a business-friendly environment and strong health care, with over 20 major hospitals \u2013 including a Mayo Clinic \u2013 and a thriving bioscience sector.<\/p>\n

Like Tampa, Jacksonville\u2019s average home value is higher than many on this list, though it remains lower than the national average. Home values shot up by 8% over the last year, and rents rose quickly as well, fueled by population growth over 67% faster than the nation\u2019s as a whole.<\/p>\n

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Florida, Georgia, North & South Carolina, Orlando, Clermont, Lake Nona, Deland, Leesburg, Melbourne, Winter Garden, Kissimmee, Oviedo, Sanford, Lake Mary, Longwood, Tampa, Jacksonville, Tallahassee, Gainesville, Miami, Ft Lauderdale, Ft Myers, <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[229],"tags":[69,86,30,34,25,103,26,76,39,16],"_links":{"self":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3579"}],"collection":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/comments?post=3579"}],"version-history":[{"count":9,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3579\/revisions"}],"predecessor-version":[{"id":3589,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3579\/revisions\/3589"}],"wp:attachment":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/media?parent=3579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/categories?post=3579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/tags?post=3579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}