One of the densely populated states in the US is Florida, this state is said to be home to above 21 million people and the number has not stopped. The good weather, beautiful sand beaches in Florida are among the unique features that seem to attract revelers to call it home. Considering that everyone who gets to Florida wants a home, this has led to an increase in the number of building in Florida which has contributed to the growth of Florida real estate market. In Florida, you will get a variety of houses which comprises of suburb houses, beachfront properties, and urban houses. Discussed below are key things that you need to know about Florida real estate market.
What is the average value of a middle house set up in Florida? According to the Florida real estate market, the price of a middle home would stretch up to $238,600. This is the rate of properties that are scattered throughout the Florida state which also includes the posh areas of this state. Properties which are located along the coastal beach such as those along Miami beach will cost you more, the median property price may go to millions of dollars.
The price of homes in Florida are at an increasing rise. In the last 24 months, the market for homes in Florida is believed to have increased by more than 4%, this is a high increasing rate when compared to other states.
The Florida real estate market is growing steadfastly. For real estate investors looking for a state to invest in, the Florida real estate market is promising, the market has the potential to grow by more than 3.6% for the next 12 months.
What is the average number of the day a property can remain listed? When a property is listed for sale in the Florid, it is estimated to take a period of up to 83 days before it is bought.
What is the distribution curve of those owning homes against those renting? The number of those renting properties in Florida versus home-owners is increasing thanks to the newer generations looking to make Florida their home. Comparing now and the 1990s, there is 65.5% of Florida dweller who is homeowners and the other fraction is for residents who lease houses to stay.
Florida residents enjoy the low cost of living. The low cost of living in Florida is a major contributor to the increasing Florida real estate market. Florida does not charge personal income tax to its resident, this a key contributor to its low cost of living.