Florida is the ideal destination for those looking to buy a second home or a place to retire. Its paradisiacal beaches and favorable climate make it the perfect place to invest in real estate. Apartments in Orlando, for example, continue to appreciate and the market continues to grow exponentially.
The advantages of living in this city do not end there. Orlando has a cost of living index of 95%. This value is 4% lower than the state average and 5% lower than the national average (AreaVibes, 2019). And let’s not forget that Orlando’s parks are among the best in the country.
Only Disney World and Universal Studios concentrate about eight parks, but there are plenty of attractions around the city. Without a doubt, it is a good time to buy apartments in Orlando. Below, we recommend some areas that stand out when it comes to housing investment.
The best areas to buy apartments in Orlando
Lake Nona
It is one of the fastest growing areas of homes in Orlando. One of the attractions for families is the exclusive health services. Having one of the largest medical research centers in the area, it is already known as Medical City.
It has established itself as a golf practice area, thanks to the tournaments that are held every year, such as the Tavistock Cup. And because it’s located just 20 miles (32 kilometers) from downtown, it’s convenient for those who work in the city. Its proximity to Orlando International Airport is convenient for regular business travelers.
The average sales price of apartments in Orlando in this area is $ 605.1 thousand. Currently, there are more than 40 properties for rent and 140 for sale (Realtor, 2021).
Winter Park
Here is located Rollins College, an educational campus and cultural center that stands out for its architectural design. This results in an advantage for families with college-age children. The center is 15 minutes away, a perfect distance to be close to the action of the city.
In addition, the Winter Park Farmers’ Market and Park Avenue offer a wide variety of boutiques, museums and international restaurants that attract new residents. Among the most popular is the 4 Rivers Smokehouse, considered the best barbecue in the state. The average sales price of apartments in Orlando in this area is $ 438.5 thousand. Currently, there are more than 160 properties for rent and more than 400 for sale (Realtor, 2021).
College Park
In this place is located the DubsDread Golf Course and the College Park Main Street, two entertainment spaces for children, youth and families. It is also surrounded by several lakes such as Ivanhoe and Adai, where you can practice water sports.
Loch Haven Park is the cultural center that houses the Orlando Science Center. Its streets have the names of renowned universities such as Harvard, Yale and Princeton, hence the name of the area. Most of its residents work downtown, which is just a 10-minute drive away.
The average sales price of apartments in Orlando in this area is $ 435.5 thousand. Currently, there are more than 40 properties for rent and 110 for sale (Realtor, 2021).
Baldwin Park
It has a strategic location being close to Winter Park and downtown. It is recognized as a highly rated school district. Notable schools include Baldwin Park Elementary School, Audubon Park and Cornerstone Charter Academy.
It is an area designed for people to enjoy long walks and leave cars at home. Residents often walk to restaurants, bars and events. For sportsmen, there are other trails to explore: tennis and basketball courts and an athletics complex.
The average sales price of apartments in Orlando in this area is $ 505 thousand. Currently, there are more than 30 properties for rent and 40 for sale (Realtor, 2021).
5 Real Estate Statistics in the City of Orlando
- According to the Zillow index (2021), the value of a home is $272,648 (October 2020).
- Property values grew 6.7% in 2020, and are predicted to rise 7.4% during 2021.
- The median price of a home sold in the city of Orlando is $277,000.
- The average number of days on the market: 64.
- The value of the square foot is $168.
In this Florida city, the real estate market is continuously growing. Its stability, coupled with the convenient location, make it a good choice to buy apartments in Orlando. So, if you have plans to travel to Orlando, visit these areas to witness the great investment you can make for yourself and your family.
References
AAA Insta-Move Inc. (May 23, 2019). Most affluent neighborhoods in Orlando to invest in. Retrieved from https://www.instamove.com/most-affluent-neighborhoods-in-orlando-to-invest-in/
AreaVibes. (2019). Orlando, FL Cost of Living. Retrieved from https://www.areavibes.com/orlando-fl/cost-of-living/
Chaplin, J. (December 16, 2019). 10 Best Neighborhoods in Orlando, Florida. Apartment List. Retrieved from https://www.apartmentlist.com/renter-life/best-orlando-neighborhoods
López, H. (n.d.). 13 Reasons to Move to Orlando. The Storage Space. Retrieved from https://www.cubesmart.com/blog/city-guides/orlando/13-reasons-to-move-to-orlando
Peterson, J. (October 10, 2020). Top 5 Orlando Areas for Buying a Rental Property | Orlando Appreciation & Cashflow Areas. The Listing. Retrieved from https://www.thelistingrem.com/blog/top-5-orlando-areas-for-buying-a-rental-property–orlando-appreciation–cashflow-areas
Realtor. (2021). Baldwin Park, Orlando, FL Real Estate Market. Retrieved from https://www.realtor.com/realestateandhomes-search/Baldwin-Park_Orlando_FL/overview
Realtor. (2021). College Park, Orlando, FL Real Estate Market. Retrieved from https://www.realtor.com/realestateandhomes-search/College-Park_Orlando_FL/overview
Realtor. (2021). Lake Nona, Orlando, FL Real Estate Market. Retrieved from https://www.realtor.com/realestateandhomes-search/Lake-Nona_Orlando_FL/overview
Realtor. (2021). Winter Park, FL Real Estate Market. Retrieved from https://www.realtor.com/realestateandhomes-search/Winter-Park_FL/overview
Rohde, J. (n.d.). The Orlando Real Estate Market: What Investors Should Know For 2021. Roofstock. Retrieved from https://learn.roofstock.com/blog/orlando-real-estate-market
Zillow. (2021) Orlando Home Values. Retrieved from https://www.zillow.com/orlando-fl/home-values/ Zequeira, C. (n.d.). 5 Great Neighborhoods in Orlando. Great American Country. Retrieved from https://www.greatamericancountry.com/places/local-life/5-great-neighborhoods-in-orlando