The Orlando Business Journal reports that Orlando is one of five Florida cities named as best markets in which to invest in rental property. This,Â according to a quarterly ranking of 100 U.S. markets.
Orlando came in at No. 4, Fort Myers No. 5, Fort Lauderdale No. 8 and Tampa No. 9. Not surprising when Orlando is also the No.1 spot this year to celebrate New Year’s Eve. “So long as the sun keeps shining and that Mouse keeps singing, Orlando property will remain a viable investment,” said Marcus Burke of Orlando’s Condo Metropolis.
“We think Florida is one of the most interesting states in terms of rental property opportunities,” saidÂ Ingo Winzer, president and founder ofÂ Local Market Monitor Inc.Â Â Â “That’s because home prices haven’t bottomed out, and rents will eventually be supported by renewed population growth.”
Rounding out the top 10 list were Las Vegas (No. 1); Detroit (No. 3); Warren, Mich. (No. 4); Bakersfield, Calif. (No. 7); and Rochester, N.Y. (No. 10). Five of the ten cities noted were in Florida.
The quarterly list is compiled by Local Market Monitor and reviewed byÂ HomeVestors of America Inc.Â It ranks 100 U.S. markets based on the expected future relative returns of homes purchased as rental property. The rankings also serve as a guide for investors in determining how much to pay for rental property.
For more information on Orlando investment opportunities, call Orlando specialists Condo Metropolis on 407-290-3408 and if you’re not reading this on our Blog, visit the Orlando Condo Blog for all the latest Orlando real estate news.