More and more people are moving to the beautiful sunshine state of Florida. With more people, comes the need for more housing. However, the demand for home ownership has gone down and the demand for rentals has drastically grown. If the increasing population and demand for rentals continues, around 600,000 new apartments will need to be built over the next ten years.
Population Increase Means Higher Demand for Housing
The estimated total of people relocating to Florida every day is topping 1,000. With the population of Florida increasing by almost a thousand every single day the demand for more housing is at an all-time high. With more people comes more businesses and more job opportunities.
Developers across Florida are experiencing higher fees and material costs than ever before, potentially causing projected housing development to be 14,000 under what is needed. With such a high demand for rentals, this will mean an increase in rent prices. These events present the perfect opportunity for investors to market their properties.
Ryntal Property Management has knowledgeable staff with years of experience to help get the most out of your investment. As well, our licensed real estate agents are here to help get an edge on the market and to build your investment portfolio.