9 Best Neighborhoods to Buy a 2019 Orlando Real Estate Investment

A lot of people have their eyes on the Orlando real estate market 2019 and for good reason. As it heats up, locals and non-locals alike are looking to start investing in Orlando real estate for many reasons. We’ll tell you what those reasons are, and where to look for the best Orlando real estate investment.

Orlando- The Best City to Buy Rental Properties?

So what’s up with all of the buzz surrounding the Orlando real estate market? Being on multiple lists such as Forbes’ Best Markets for Real Estate Investment 2019 and Zillow’s Hottest Housing Market of 2019, there’s definitely something special about an Orlando real estate investment.

Hot Market

When real estate investors are looking to buy, they usually stray away from “hot” markets because they translate to sellers having the upper hand. However, an Orlando real estate investment shouldn’t be ignored. This is clear from the fact that, even though housing supply is limited, buyer demand is still steady. At the end of 2018, the Orlando housing market had about a 2.6-month supply of homes for sale, which does mean there is a supply and demand imbalance. As a result of this inventory shortage, Orlando real estate values and prices are rising. Orlando home values have increased by 9.4 percent over the past year and are expected to go up another 5.8 percent within the next year. With prices of Orlando homes for sale on the rise, investors are going to want to move quickly to benefit from the appreciation.

Population Growth

This is a huge factor contributing to the boost in the Orlando housing market. Compared to the national average, data collected by the U.S. Census Bureau shows a dramatic surge in the population of Orlando by more than 17 percent from 2010 to 2017. This steady attraction of families, businessmen, and students increases housing demand- both the purchase and rental side.

Job Opportunities

One of the things drawing so many people to Orlando is the booming job market. Even though the population is growing, employment rates have kept up. Actually, as of December 2018, the metro Orlando area holds an unemployment rate of around 3 percent. It is especially becoming a hub for IT professionals and engineers. You’re definitely going to want to buy an Orlando real estate investment because as the job market continues growing, the housing market follows.

Strong Economy

One of the strongest industries in Orlando is tourism. It has been a thriving industry for a while now, and that joined with low unemployment and population growth gives us a stable Orlando economy. A solid economy can only be good news for every aspect of an Orlando real estate investment; a growing population widens the tenant pool and increasing job opportunities support strong rental rates. Don’t forget about the steady demand for housing which only shows signs of strong real estate appreciation for an Orlando real estate investment in 2019.

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Best Neighborhoods in Orlando for Real Estate Investing

These neighborhoods are ranked as the best places to find profitable Orlando investment properties for sale based on key numbers. Using our real estate investment calculator, Mashvisor has located the top-performing neighborhoods for an Orlando real estate investment in 2019. These are neighborhoods that experience high levels of return on investment and overall superior performance. Before we get into that though, let’s take a look at Mashvisor’s summary of rental property performance in the Orlando housing market at the city level:

Orlando Housing Market 2019

Median Property Price: $320,194
Price per Square Foot: $169
Average Days on Market: 88
Price to Rent Ratio: 17
Monthly Traditional Rental Income: $1,603
Traditional Cash on Cash Return: 2%

Note: We will only be listing data for traditional long term rentals seeing that Airbnb short term rentals are currently illegal in Orlando, FL (if you’re not living in the property). However, if you plan on investing in a duplex, for example, and living in one unit while renting out the other, a city license is all you need to legally run your short-term rental. If you choose this strategy, start out your 7-day free trial with Mashvisor now to get access to Airbnb data so you know where to buy an Airbnb Orlando real estate investment.

Now let’s list the top nine neighborhoods for a successful Orlando real estate investment in 2019.

1) Roosevelt Park

Median Property Price: $103,250
Price per Square Foot: $106
Average Days on Market: 183
Price to Rent Ratio: 7
Monthly Traditional Rental Income: $1,318
Traditional Cash on Cash Return: 7%

2) Millenia

Median Property Price: $115,100
Price per Square Foot: $109
Average Days on Market: 37
Price to Rent Ratio: 8
Monthly Traditional Rental Income: $1,241
Traditional Cash on Cash Return: 5%

3) Westfield

Median Property Price: $141,225
Price per Square Foot: $106
Average Days on Market: 134
Price to Rent Ratio: 9
Monthly Traditional Rental Income: $1,385
Traditional Cash on Cash Return: 5%

4) Rio Grande Park

Median Property Price: $109,856
Price per Square Foot: $107
Average Days on Market: 79
Price to Rent Ratio: 8
Monthly Traditional Rental Income: $1,190
Traditional Cash on Cash Return: 5%

5) Mariners Village

Median Property Price: $185,950
Price per Square Foot: $128
Average Days on Market: 7
Price to Rent Ratio: 10
Monthly Traditional Rental Income: $1,620
Traditional Cash on Cash Return: 4%

6) Lake Richmond

Median Property Price: $162,267
Price per Square Foot: $112
Average Days on Market: 78
Price to Rent Ratio: 12
Monthly Traditional Rental Income: $1,125
Traditional Cash on Cash Return: 3%

7) West Colonial

Median Property Price: $123,180
Price per Square Foot: $99
Average Days on Market: 81
Price to Rent Ratio: 11
Monthly Traditional Rental Income: $977
Traditional Cash on Cash Return: 3%

8) The Dovers

Median Property Price: $223,026
Price per Square Foot: $178
Average Days on Market: 29
Price to Rent Ratio: 12
Monthly Traditional Rental Income: $1,550
Traditional Cash on Cash Return: 3%

9) Dover Manor

Median Property Price: $297,500
Price per Square Foot: $156
Average Days on Market: 27
Price to Rent Ratio: 16
Monthly Traditional Rental Income: $1,550
Traditional Cash on Cash Return: 2%

If you want to quickly find a lucrative Orlando real estate investment that matches your criteria, sign up for a free account with Mashvisor and use our Property Finder Tool.

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