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Multifamily Investments in Florida Get Huge Returns!

Admin2 — Tue, 17 Oct 2017 04:30:10 +0000

The Sunshine State has the greatest number of cities on Forbes’ Best Buy list in the country: Orlando, Fort Lauderdale, Cape Coral, Miami, Jacksonville, West Palm Beach and Tampa. But smart multifamily investments in Florida aren’t limited to this short list; real estate values are increasing at a rate of 9% to 14% in ALL of the cities in Florida. That means, even if your multifamily units were empty, you’d still be making money!

Think of the all the people who have become extremely wealthy through real estate and you’ll realize that they did so by owning multi-units. When it comes to residential real estate, there are two main types of properties investments: single-family and multifamily units— including duplexes, condominiums, apartments, retirement complexes and others. Real Pro understands the advantages of multifamily investments and can help you find the best real estate deals in Florida.

What makes multifamily investments so great?

1) Reliable income. A vacant single-family home means zero income. However, barring a major disaster, a multifamily investment property in Florida will rarely sit completely unoccupied… even during high turnover seasons. This gives you the leeway to repair or renovate vacant units, and the time you’ll need to find quality tenants.

2) High demand. There is a large base of tenants looking for multifamily homes. A recent study by the National Multifamily Housing Council shows only one-third of rental properties are single-family homes and 63 percent are multifamily. While a single-family home investment also increases in value and creates a positive cash flow, it is only one source of income. A multifamily investment property in Florida can be as small as a duplex and as large as 1000+ units. Real Pro clients are usually new investors who have as little as $25,000 for a down payment; as such, we focus on small to medium multifamily properties.

3) Better value. The price per unit will be much lower than it would be if you dealt exclusively in single-family properties. Yes, the price tag can be daunting, but the return on investment is second to none. In the overcrowded single-family rental market, multifamily properties are a blessing in disguise. Before you discount that downtown high-rise or the contemporary duplex, consider the possibility of a generous ROI. Real Pro knows that multifamily investment properties in Florida might just be the investment of a lifetime.

4) Lower maintenance expenses per unit. Because of the shared walls, yard, plumbing and electrical systems, etc… maintenance expenses are greatly reduced. For example, an internal plumbing problem for a single-family home can be just as expensive to fix as one in a multi-family property. Everything from landscaping to the cost of electrical supplies will be less expensive per unit. Real Pro has the connections you need to attain and maintain your multifamily investment property in Florida.

5) Lower management fees. It’s easier to manage one building, or hire a property manager for a single building, than to tend to several separate single-family homes. A property manager is typically paid a percentage of the monthly income the property generates, which means they are motivated to find and screen tenants, collect rent payments, handle evictions for non-payment and maintain the property to attract new tenants. 72% of multifamily investment properties in Florida have 10 units or more; it’s easier to manage contractors, bills, taxes, etc. for one multifamily structure than ten single family homes.

6) Easier financing. It might seem as though securing a loan for a single-family property would be easier than trying to get money for a million dollar complex, but the truth is a multi-family property is more likely to be approved for a bank loan than the average home. That’s because multifamily investments in Florida consistently create a strong cash flow month after month. This remains the case even if a property has a handful of vacancies or a couple of tenants who are late with their rent payments.

If those reasons aren’t enough for you think about purchasing a multifamily investment property in Florida through Real Pro, consider this highlight from a 2017 Freddie Mac Outlook report: “Florida will see strong rent growth in 2017 because increased demand outpaces supply, allowing landlords to raise rents at a quick pace. As Florida emerges from the Great Recession, they have added jobs and experienced population growth but have not had as much of an increase in multifamily construction as many other areas have had. Vacancies are expected to decrease in 2017 as strong demand brought on by a growing job market and relatively little new supply will push vacancies down and rents up.”

Read more at RealPro.com

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The Single Greatest Investment Grant Cardone Ever Made

Admin2 — Tue, 17 Oct 2017 04:19:46 +0000

In my opinion, real estate is the best way to grow wealth. If you want to get super rich, get involved in real estate — but I’m not talking about just any real estate.

I recently wrote an article that explained why buying a house is for suckers. A home is not an investment, because it doesn’t pay you each month — you have to pay it.

It’s a liability to me, not an asset. Not only does a house leave you less mobile, it ties up your money so you can’t use it for real assets.

There are many indications that multi-family apartment investments will continue to be great:

• 75 million Baby Boomers are headed into retirement
• Many of today’s apartment complexes may be converted to retirement communities in the future
• Many millennials aren’t buying homes
• It’s getting more expensive to build new apartment units
• Your initial challenge is getting a down payment. Once you do, it’s easier to get a loan on a multi-family unit than any other piece of real estate. Multi-family is the easiest way to get rich once you’re in the game. I can go online today and find a 49-unit property priced at $35,000 per unit with an 8% cap (the return on investment based on the income a property is projected to create) for $1,750,000.

If you pay cash for this deal at $1,750,000, you would make $140,000 free cashflow per year after expenses. With $450,000 down and financing $1,300,000, the debt payment would be $78,000 per year. This would make you $62,000 cash flow per year. This cannot be done with a home.

I had a guy call in on my show, The Cardone Zone, and tell me he owned $100,000 equity in a three-bedroom house with a family of five. I quickly searched online to find a property for this caller and came across a $179,000, 20-unit building with a 15% cap rate. He would pay $48,000 per year on the mortgage and the return would be $22,000 per year. He’s paying for the house he currently lives in, but the multi-family building produces income over the mortgage.

For the vast majority of people, college never leads to riches, nor does a home. If your goal is to build up $300,000 of equity over 30 years, then buying a home is a way to park your money the same way you would in a savings account or under a mattress. If you want to leverage your money and grow wealth, buying a home is not the way to go.

When I was in Houston, I tried the investment housing thing. My renter left and I had trouble filling the place again. If you have a building with 16 units, even if a couple are vacant, you still can make it work. The more doors, the better.

I ended up buying my first apartments back in the early 90s, a 38-unit deal for $1.9 million, putting $350,000 down. I looked for a market where they don’t allow building, and where permits to build cost more than the existing buildings. At that time in San Diego, it would cost $28,000 to permit one unit. I was buying units for $70,000. So, to go build a new one, it would cost $28,000 for a piece of paper, and you hadn’t even put a nail or a stud in a piece of cement.

If you go into multi-family the right way, over the next decade it could be the best investment of your lifetime — and I put my money where my mouth is. I currently own almost 4,000 apartments and will soon have over 5,000. They are not building enough multi-family apartment buildings to keep up with demand. On average, 770,000 new rental households have emerged each year since 2004, according to a 2015 article in The New York Times.

Real-estate investing can give you the ability to use debt — a $400,000 purchase can be purchased for 25% of the price, allowing you to leverage $100,000 to control 4X the value in property. Income-producing real estate investments can also provide excellent appreciation in value. Properties usually increase in value when the net operating income of the property improves through rent increases and effective management of the property. There are also tax benefits and hedges on inflation.

If you want to get involved in multi-family real estate, start with a minimum of sixteen units, avoid single family residences and condos, and only buy multi-units at one address.

If you struggle with producing enough income to save enough for a significant down payment, check out Cardone University today. In the creation of wealth, you have to have income before you can invest. Invest in yourself today so that you can have something to invest big tomorrow.

Read more at BusinessInsider.com

The post The Single Greatest Investment Grant Cardone Ever Made appeared first on Aspire Development.

Should You Invest In South Florida Real Estate?

Admin2 — Tue, 17 Oct 2017 03:56:19 +0000

With a large number of second homes and condos, South Florida is prone to boom and bust cycles that stem more from investment hopes than housing needs. Add an expanding Latino population and waves of baby-boomers – two million retiring every year – and you get both risks and opportunities. Demand for Florida housing is always growing, but is it growing slower or faster than the supply?

The percentage of second homes increases as you head north from Miami, to 20 percent in Palm Beach County. This large pool of empty properties is the swing vote in home prices. It can swamp supply during a downturn but also represents the desire of future retirees – and South American investors – to buy while they can.

Home prices were strong in the last three years – up 40 percent – and I expect they’ll keep rising 10 percent a year. But… How much of that 40 percent was from speculation in foreclosed condos? How much from ‘real’ demand? There are strong reasons to believe that from here on we are looking at prices going higher than they ‘should’ – especially in Broward County – in other words a mini-boom that will fizzle after a few years. If you’re looking to buy for the long-term, do it now. If you’re looking for a short-term investment, be very, very careful.The economy of Miami itself is diversified – with an important finance sector – but as you go up the coast more jobs are in retail and services. Healthcare is the largest creator of jobs in all three counties, and growing rapidly.

Because rents held up better than home prices during the recession, buying a property to rent out is an attractive option despite the recent rise in prices, less so in Palm Beach County, more so in Miami-Dade and Broward. Almost half of households in Miami are renters. With most the new healthcare and retail jobs paying low wages, the renting population will increase. In urban areas it makes sense to buy a single-family house and split it into rental units. Apartment buildings are a good option in Miami – at the right price.

Mortgages are a difficult investment right now. Because home prices will keep rising the next few years, the equity cushion for new mortgages will grow quickly; on the other hand, prices are almost too high in Broward and Miami-Dade already, which means these mortgages will have a rising risk of default. Just because the last bust is over doesn’t mean a new one isn’t around the corner. Lenders should back away from high loan-to-value mortgages during this period. The same is true for construction loans; new projects should be financed in very careful stages.

Population is growing at an uneven pace, slower in Miami, faster as you move up the coast. Over the next three years I expect a 10 percent increase in housing needs in Palm Beach County – 30,000 owner properties and 23,000 apartments. I expect 25,000 of each in Broward, and in Miami 30,000 houses and 36,000 apartments.

The climate for investments in retail businesses and restaurants is best in Palm Beach County, where demand has grown quickly the last two years and average income is the highest. All three counties, but especially Palm Beach will need office space for the growing number of healthcare workers.

Read more at Forbes.com

The post Should You Invest In South Florida Real Estate? appeared first on Aspire Development.

Best Buy Cities: Where To Invest In Housing In 2016

Admin2 — Fri, 27 May 2016 18:37:05 +0000

With housing prices rising but wages stagnant, 2016 is likely to be a year of worsening affordability for homebuyers, especially low- and middle-income earners, according to Zillow, a real estate data-tracking company. That’s bad news for many people hoping to buy a home for the first time. But for investors looking to put their money into rental properties, these economic conditions point to continued strength in that market.

To find out where investors might get the best bang for their housing buck, and where aspiring homeowners have the best prospects of making an economically sound purchase, we teamed up with Local Market Monitor, a North Carolina-based data company that tracks home prices and economic factors in more than 300 housing markets. The result is our list of 2016′s Best Buy Cities—the top 20 housing markets to invest in this year.

The clear takeaway: there are good values to be had in Florida, which placed seven cities on our list.

To come up with these cities, Local Market Monitor screened the 100 largest Metropolitan Statistical Area and Divisions (geographical designations used by the U.S. Census Bureau to delineate a core city and its surrounding suburbs), all with populations of at least 600,000, for characteristics that make for good investments. Each of our Best Buy Cities boasts healthy job growth, strong population growth, and anticipated home price appreciation. The majority of the cities are still considered undervalued; home prices in seven of the 100 cities are now a bit overheated–though not enough to make them risky.

To assess whether home prices are over- or undervalued, Local Market Monitor crunches local income and housing data to come up with an “Income Price,” which represents what the average home price for a particular market would be without distortions in the market (such as the recent housing crash, or heavy investor speculation). The idea is that there’s a relatively stable relationship between local home prices and local salaries; investors who buy when homes are priced below the Income Price are more likely to make a good return.

This year we favored cities with the strongest employment growth in compiling our ranking. Normally local economic health is the basis for housing supply and demand, says Ingo Winzer, founder and president of Local Market Monitor, but the financial crash and foreclosure crisis upended the usual patterns.

Now that the economy has recovered, “We’re in a time period where economic growth has taken over again,” Winzer said.

Both our No.1 metro area, Grand Rapids, Mich., and Tampa, Fla. (No. 14), boast a healthy 3.1% three-year population growth rate, according to the latest Census data, indicating that people are moving there at a higher rate than the national average (2.3%, 2011-2014). But employment in greater Grand Rapids expanded by 3.9% in the 12 months to November, according to the Bureau of Labor Statistics, the highest rate among the 100 metro areas we examined, compared to a 2.6% clip in Tampa. As a result, Grand Rapids gets a higher ranking.

The Michigan city boasts a diverse economy: In addition to its historic roots in furniture-making (these days for Steelcase, Haworth, and Herman Miller), Grand Rapids has a “Medical Mile” of medical suppliers, as well firms specializing in aerospace and advanced manufacturing. A couple hundred miles west of Detroit, greater Grand Rapids is also a major supplier to the auto industry. As we came out of the last recession Grand Rapids was really propelled by the manufacturing side,” says Paul Iseley, economics professor at the Seidman College of Business at Grand Valley State University. “Now what we’re seeing is the second edge of that, moving into services.”

In second place on our list is Orlando, followed by six other cities in the Sunshine State, including Fort Lauderdale (No. 8) and Cape Coral (No. 10). Among them, average home prices are highest in West Palm Beach (No. 19), at $285,000, and lowest in Tampa (No. 14), at $193,000, but have been accelerating at a rate of 9% to 14% in all the Florida cities.

Why is Florida, of all places, dominating the list? “The Florida situation surprised me,” admits Winzer. But in light of the national economic recovery, Florida’s rise makes a lot of sense. Because it attracts retirees, second-home buyers, and investors, the Sunshine State’s housing market is subject to more volatility than other markets. With would-be retirees and vacationers staying away during the downturn, housing prices tumbled dramatically. “Since the national economy has stabilized and is growing again, the factors that prompt people to go to Florida have recovered,” Winzer said. As retirees and vacationers return, they need services, in turn creating a steady stream of jobs, which leads to a steady supply of renters. Last year Florida added nearly a quarter-million jobs, Florida TaxWatch reports.

Texas is the state with the second-greatest number of cities on the Best Buy list, three: San Antonio (No. 3), where homes average $201,000; Dallas (No. 6), where home prices average $211,000; and Austin (No. 7), $281,000. While the rest of the country was in the depths of the recession, Texas experienced only a shallow one, and bounced back with force. The energy boom helped fuel job growth; even with gas prices now way down and the industry hemorrhaging some 200,000 jobs, these three Texas metros are doing well overall thanks to their diversified economies. The Gulf Coast has welcomed a boom inpetrochemical construction, and the state is seeing growth in leisure and hospitality, both activities reportedly fueled by lower gas prices.

Austin is welcoming growth in high tech. Dallas is welcoming the relocation of Toyota,State Farm Insurance, and Liberty Mutual Insurance . San Antonio has financial firms and data centers. Year-over-year job growth is strong (San Antonio: 3.7%; Dallas: 3.5%; Austin: 3.3%) and people continue to move to the Lone Star State (three-year growth rates for San Antonio: 6.1%; Dallas: 6.2%; Austin: 9%), meaning it is an area flush with a pool of renters. Housing prices are rising but compared to the rest of the nation, still relatively cheap. And there continues to be a shortage of housing supply, meaning prices are likely to keep on rising (three-year home price growth projections for San Antonio: 26%; Dallas: 33%; Austin: 27%). Though only three Texas cities grace this year’s list, “Houston and Fort Worth would easily be in the next 10,” Winzer said.

Winzer predicts that it will still be a while before Texas prices reach the point where these metro areas are no longer a good investment—by his estimate, when they are overpriced by about 20%. On that note, the Golden State is notably absent from our Best Buy List (last year Sacramento made the list). “San Francisco and Los Angeles are overpriced already: prices are 30% higher than what they should be,” Winzer said. “They are dangerous to the investor.” A safer bet: Indianapolis (No. 11) or top-ranked Grand Rapids.

Full List: Where To Invest In Housing In 2016

Eleven of the cities on our list this year also made the list last year; among the nine new cities are Seattle (No. 9), Nashville (No. 13), and Madison, Wisc. (No. 17).

Best Places to Invest in Real Estate in Florida

Admin2 — Fri, 27 May 2016 18:05:05 +0000

Ah, Florida. The land of sand, snowbirds — and real estate speculation.

Ever since the 1920s, when the first real estate boom officially arrived at the doorstep of the Sunshine State, the idea that you too could own a sunny slice of Miami or Tampa has taken root within the American dream.

But, as with any investment, the risk of loss is real and timing is everything. Florida housing prices, which hit a peak in December 2006, are slowly recovering after the Great Recession nosedive — the state’s fall was among the harshest in the nation — but recently, the trend is positive, stoking renewed interest in real estate.

According to the S&P/Case-Shiller Index, considered one of the more reliable indicators of local real estate market trends, home prices in the Miami area have been on an uninterrupted march up since November 2011. Recently, in Lauderdale-by-the-Sea, a community just north of Fort Lauderdale, buyers camped out overnight for a chance to snap up new condos selling for $500,000 to $1 million.

Investors will find real estate prices vary widely across Florida. In NerdWallet’s study of 227 places, the cheapest average sale price was $37.36 per square foot in Kenneth City in Pinellas County. The most expensive was Key Biscayne at $546.77 per square foot, a difference of over $500.

So what area offers the best bang for your real estate investment buck? NerdWallet crunched the numbers to find out.

Key takeaways

Flip this. If your goal is to get in and get out with a profit, here are the top three communities when it comes to speed of sale: Hialeah Gardens, Lauderdale-by-the-Sea and Atlantis. Hialeah Gardens earned the highest mark, a 9.55, in our study on this metric — Zillow’s 2014 market health score. The quicker a house sells, the higher the score, with 10 as the highest.
Beachfront bonus. The Miami-Fort Lauderdale metro area dominated our top 10 list — eight of our top 10 investments are located there.
Going long? Florida’s housing market seems to make the most sense overall for those looking to invest in the long term. Most of our top 20 places have low scores when it comes to real estate market health, a sign of the continued impact of the Great Recession.

NerdWallet’s analysis

Our calculations took into account several factors:

Market health. We looked at how quickly houses sold compared with other cities in the state, as well as the change in vacancy rate.
Price per square foot. Weighting for affordability, we measured the price per square foot of housing in a city, averaging all months of 2013 and 2014 to avoid seasonal fluctuations.
Population and home price growth. Averaging monthly price data since 2004, we examined the percentage of houses that increased in value over the past 10 years. We also looked at the increase in population since 2010.
Property taxes. Using state data, we calculated the city and county property tax for each city.

Best places to invest in real estate in Florida

1. Doral

Doral tops our list thanks to its relative affordability, low unemployment rate (4.4%, or over a full percentage point lower than the statewide rate) and strong population growth. This north-central Miami-Dade County city from 2010 to 2013 welcomed almost 6,000 new residents, a gain of more than 14%.

2. Bal Harbour

In tiny Bal Harbour, population 2,569, price could quickly become a factor — it’s the most expensive location in our top 20 with an average sales price of $340 per square foot. Still, there are plenty of buyers. On Zillow’s 0-10 scale for speed of sale, Bal Harbour scored a healthy 8.66.

3. Homestead

The watchword in Homestead is growth. More than half — 56% — of its homes have increased in value over the past 10 years, yet housing remains relatively affordable in this city of 61,714 residents. Sale prices over the past two years averaged just $79.42 per square foot, among the most affordable in our study.

4. Miami Lakes

Miami Lakes may not boast oceanfront property, but a full 57% of its housing stock has increased in value over the past 10 years, and vacancies have dropped 3.6%. That’s a good sign for investors who may have to pay a premium for this suburban location just north of Miami. Here, buyers paid an average of $152 per square foot for a house.

5. Marianna

Bargains abound in Marianna, home of our top 20’s lowest price-per-square-foot sale price of $61. It’s also clearly attracting new residents, with a 28% increase in the population from 2010 to 2013.

6. Hialeah Gardens

Hialeah Gardens, population 22,136, had the highest overall market health score in our survey at 9.55. This means buyers who are looking for a quick turnaround on their investment will find many options to flip housing in Hialeah Gardens.

7. Aventura

This diverse and growing community in northeastern Miami-Dade County is known for its high concentration of transplants from the Northeast, and its many high-rise condos. Buyers will find an average sales price of $227 per square foot and options for Intracoastal Waterway and Atlantic Ocean views. The city’s investment score also benefits from its 7.51% increase in population since 2010.

8. Pinecrest

This small suburban village in Miami-Dade County is the second-most expensive in our top 10, with the price of $269 per square foot. Its population has grown a modest 1.54% in recent years, and village leaders are thinking about expanding. A common discussion involves annexing land west of U.S. Highway 1 to help build out the small village’s tax base.

9. Cape Coral

Cape Coral moves in many directions: It is the largest city in our top 10 at 158,415 residents, and it has an average sales price that is the third lowest in our top 10 at $96 per square foot. It’s the only city on our list located in Lee County, which is also home to Fort Myers. Cape Coral residents are thinking about development, which can have a major effect on real estate values. Recent news reports have focused on plans to develop Bimini Basin as a community gathering place — with some ideas calling for a mix of commercial and open space.

10. Winter Garden

The only place in our top 10 near Orlando, Winter Garden has a lot to offer those diving into the real estate market. Its vacancy rate declined while its population grew over 13%, suggesting strong demand for housing. Perhaps it’s the nearby Disney World effect, but Winter Garden enjoys a particularly strong job market, which supports a growing housing market. The unemployment rate in Winter Garden in December, the most-recent data available, was 3.8%. By comparison, the entire state of Florida was at 5.6% for the same month.

Best places to invest in real estate in Florida

Rank	City	2013 population	Market health score	Percent change in vacancy rate	Price per square foot	Population growth since 2010	Percent of housing value increase in past 10 years	Total tax rate (per $1,000 of value)	Total score
1	Doral	47,076	3.44	0.9	$174	14.41%	62.06%	$6.63	93.48
2	Bal Harbour	2,569	8.66	-4.4	$340	-2.87%	62.06%	$6.62	88.38
3	Homestead	61,714	5.39	-2.2	$79	12.02%	56.16%	$10.63	88.05
4	Miami Lakes	29,866	4.87	-3.6	$152	6.35%	57.99%	$7.06	87.65
5	Marianna	7,939	0.18	-8	$61	28.63%	51.25%	$9.94	86.84
6	Hialeah Gardens	22,136	9.55	1.7	$115	4.29%	56.09%	$10.08	86.16
7	Aventura	36,307	4.60	2.5	$227	7.51%	60.39%	$6.43	85.27
8	Pinecrest	18,619	6.81	1.5	$269	1.54%	60.99%	$6.90	84.84
9	Cape Coral	158,415	7.41	1.7	$96	5.76%	56.15%	$11.36	83.57
10	Winter Garden	35,750	3.55	-2.8	$101	13.56%	53.95%	$8.68	83.38
11	Cooper City	30,717	6.08	0.8	$147	7.19%	56.76%	$10.97	82.25
12	Callahan	1,175	0.39	-1.7	$79	31.14%	49.39%	$9.00	81.26
13	Miramar	124,900	3.92	-1.1	$127	9.84%	55.97%	$11.72	80.67
14	Key Biscayne	12,560	6.24	3.1	$547	4.82%	65.31%	$7.70	80.60
15	Hialeah	228,943	5.90	-0.9	$109	2.08%	56.00%	$11.01	80.24
16	Cutler Bay	41,434	1.26	-1.4	$111	7.88%	56.39%	$7.27	80.10
17	Lauderdale-by-the-Sea	6,166	9.20	-2	$245	1.75%	54.47%	$9.19	79.49
18	Surfside	5,839	5.07	3.4	$328	5.25%	61.55%	$9.90	79.43
19	Freeport	1,884	0.72	5.3	$112	41.65%	47.45%	$8.29	79.35
20	Wellington	57,713	6.72	-0.9	$137	7.37%	51.73%	$7.25	79.30
21	Weston	66,435	1.84	4.6	$178	5.88%	59.93%	$7.26	79.00
22	Coral Gables	48,093	5.88	-0.6	$334	4.65%	59.34%	$10.33	78.83
23	Palm Springs	20,248	7.56	-2.9	$60	8.46%	48.05%	$8.68	78.46
24	Parkland	24,888	1.35	-1.1	$158	10.90%	56.24%	$9.25	78.33
25	North Miami Beach	42,349	4.72	-1	$117	2.40%	55.89%	$11.31	77.88
26	Miami Springs	14,061	4.96	-3.1	$184	2.25%	56.63%	$12.37	77.44
27	Jupiter	56,219	6.63	-0.8	$169	6.37%	51.62%	$7.30	76.99
28	Kissimmee	61,889	2.83	1	$78	4.30%	56.12%	$11.33	76.58
29	Orlando	244,931	3.63	0.2	$98	4.80%	54.49%	$10.08	76.11
30	Saint Cloud	37,905	2.82	1.2	$83	12.34%	53.33%	$11.81	76.08
31	Belle Isle	6,145	5.95	3.4	$114	1.20%	54.56%	$8.84	75.85
32	Lady Lake	14,047	7.02	0	$129	-0.19%	52.25%	$8.01	75.16
33	Clermont	29,048	3.02	-0.9	$93	11.12%	50.86%	$8.46	75.05
34	Atlantis	1,980	9.47	-2.5	$113	5.94%	47.87%	$12.68	74.27
35	North Port	57,554	1.42	-2.3	$83	10.71%	50.38%	$6.60	74.23
36	Bonita Springs	45,243	5.18	2.2	$157	4.36%	51.65%	$4.47	74.06
37	Punta Gorda	16,796	7.31	-2.1	$98	1.36%	49.77%	$9.48	73.98
38	Windermere	2,910	0.52	2.5	$137	9.36%	55.43%	$8.22	73.82
39	Port Saint Lucie	166,641	3.23	-0.5	$78	7.51%	50.50%	$7.33	73.78
40	Palm Beach Gardens	49,273	5.56	-1.3	$156	5.48%	51.81%	$10.52	73.52
41	Hollywood	143,273	5.19	2.6	$135	1.43%	55.66%	$12.71	73.48
42	South Miami	11,839	3.00	3.3	$240	3.61%	58.05%	$9.07	73.41
43	Miami Beach	89,412	4.69	1.8	$366	2.09%	59.80%	$10.57	73.07
44	Coral Springs	123,476	2.89	-1.1	$128	1.95%	54.38%	$9.83	72.95
45	Groveland	9,012	3.77	0.8	$76	13.57%	49.03%	$10.20	72.85
46	Davie	93,842	3.13	2.4	$134	3.52%	54.60%	$10.34	71.63
47	Miami Shores	10,529	2.21	0.6	$236	0.15%	59.31%	$12.70	71.51
48	Ocoee	37,084	2.77	1.5	$85	8.64%	51.18%	$10.22	71.06
49	Wilton Manors	11,868	4.71	-0.6	$193	-0.08%	54.67%	$11.47	70.98
50	Pembroke Pines	157,324	5.20	0.5	$258	3.25%	54.73%	$10.89	70.98
51	Miami Gardens	109,150	0.63	1.2	$89	3.32%	55.55%	$11.64	70.74
52	Coconut Creek	54,213	2.67	1.1	$93	5.19%	52.93%	$11.58	70.68
53	North Lauderdale	41,778	3.53	1.2	$81	2.34%	53.42%	$12.87	70.57
54	Apopka	43,137	1.60	2.6	$86	9.26%	51.08%	$7.91	70.35
55	Milton	9,008	2.55	-10	$75	3.55%	47.42%	$9.33	70.26
56	Melbourne Beach	3,118	5.76	-10.6	$157	-2.53%	48.05%	$8.91	70.20
57	Royal Palm Beach	34,699	3.74	0.6	$102	7.73%	48.40%	$6.70	69.95
58	Venice	20,893	3.16	-2.2	$120	1.00%	50.44%	$6.25	69.94
59	Sunrise	86,834	4.33	2.3	$118	2.07%	52.89%	$11.31	69.75
60	Miami	407,526	2.39	1.6	$283	4.10%	57.90%	$12.32	69.57
61	Fruitland Park	4,159	6.31	1.2	$76	2.39%	48.21%	$9.47	68.99
62	Fort Myers Beach	6,457	8.05	2.1	$276	-1.21%	50.60%	$4.40	68.93
63	Maitland	16,057	1.61	0.7	$130	2.00%	53.28%	$8.31	68.91
64	South Pasadena	4,983	6.39	7.1	$136	-1.13%	51.88%	$6.71	68.86
65	Plantation	86,999	2.17	1.7	$126	2.24%	54.05%	$10.87	68.81
66	Oviedo	34,595	2.67	0.4	$112	6.65%	50.50%	$9.74	68.61
67	Fort Myers	64,488	4.61	3.9	$106	3.41%	52.24%	$12.43	68.46
68	Margate	54,281	2.12	-1.4	$79	1.27%	52.57%	$12.59	68.34
69	Pompano Beach	101,749	2.68	1.1	$123	1.33%	52.92%	$10.13	68.26
70	Davenport	2,941	2.05	-4.4	$87	4.85%	50.92%	$14.62	67.86
71	Tampa	343,768	3.60	-0.8	$119	3.13%	50.76%	$11.47	67.65
72	West Melbourne	18,776	2.01	0	$89	9.35%	47.66%	$7.20	67.53
73	Lauderhill	68,216	1.93	1.2	$56	1.62%	52.58%	$12.63	67.35
74	Saint Pete Beach	9,394	7.11	0.5	$212	-1.05%	49.88%	$7.87	67.35
75	Oakland Park	42,217	2.63	0.2	$120	1.16%	52.68%	$11.66	67.24
76	Lauderdale Lakes	33,259	1.50	0.8	$52	2.19%	53.23%	$14.76	66.97
77	Vero Beach	15,475	5.54	-1	$91	-2.46%	46.80%	$5.12	66.67
78	Redington Shores	1,804	4.11	-5.5	$284	1.35%	50.10%	$7.01	66.35
79	North Miami	59,952	1.04	1.9	$139	1.94%	54.90%	$12.64	66.28
80	Sanibel	6,655	7.48	1.9	$372	0.50%	51.68%	$5.74	66.24
81	Lynn Haven	18,743	3.74	-0.1	$103	5.82%	46.59%	$6.74	66.18
82	Tamarac	61,586	3.91	2.9	$84	2.99%	50.79%	$12.55	66.13
83	Indian Shores	1,423	5.42	2	$252	-2.00%	51.36%	$5.01	66.10
84	Sarasota	52,588	4.44	-1.2	$184	-0.55%	49.23%	$6.33	65.73
85	Haines City	20,844	3.90	1.8	$71	5.30%	49.92%	$14.66	65.71
86	Greenacres	37,940	5.21	4.1	$71	4.63%	47.86%	$10.21	65.70
87	Deerfield Beach	76,330	2.62	2.3	$92	1.40%	51.74%	$11.49	65.60
88	Saint Augustine Beach	6,323	0.74	-5.9	$171	5.47%	48.78%	$7.79	65.41
89	Naples	19,990	7.01	0.2	$333	-2.03%	50.24%	$4.74	64.98
90	Winter Park	28,497	1.19	1.6	$180	1.01%	53.20%	$8.53	64.82
91	Boca Raton	86,671	2.71	-1.4	$142	1.87%	49.17%	$8.20	64.76
92	Palm Coast	76,455	2.76	2.5	$83	7.81%	48.46%	$11.35	64.53
93	Live Oak	6,918	2.98	-3.4	$64	1.72%	49.30%	$15.18	64.52
94	Winter Springs	33,438	3.45	5.6	$108	0.47%	50.42%	$7.31	64.38
95	Lake Worth	35,401	7.01	2.1	$91	-0.02%	46.71%	$10.28	64.35
96	Altamonte Springs	41,795	2.91	6.8	$82	-0.80%	51.44%	$7.77	64.33
97	Oldsmar	13,663	3.93	0.4	$104	2.30%	47.74%	$9.06	64.18
98	Fort Lauderdale	168,603	1.25	0.9	$215	0.79%	53.71%	$9.38	64.09
99	Green Cove Springs	6,957	0.88	2	$98	2.70%	50.44%	$7.95	64.07
100	Temple Terrace	24,889	2.31	1	$81	2.71%	50.17%	$12.17	64.07
101	Seminole	17,291	4.69	4.1	$103	-0.02%	48.51%	$7.49	63.94
102	Ormond Beach	38,345	6.78	3.5	$94	-0.78%	47.35%	$10.00	63.70
103	West Palm Beach	100,778	5.39	1.3	$125	3.05%	48.43%	$13.13	63.61
104	Stuart	15,741	4.99	-1.4	$75	0.98%	46.10%	$10.50	63.59
105	Dania Beach	30,076	1.53	1.1	$124	2.27%	51.40%	$11.26	63.58
106	Gulfport	12,079	3.84	0	$111	-0.65%	48.51%	$9.05	63.55
107	Belleair	3,889	4.92	-3.6	$151	-0.84%	47.91%	$11.04	63.52
108	Treasure Island	6,741	6.67	3.3	$212	-1.55%	49.53%	$8.35	63.49
109	Wildwood	6,601	2.06	1	$114	5.03%	49.16%	$10.45	63.38
110	Delray Beach	61,875	3.89	1.1	$131	1.29%	49.80%	$11.94	63.24
111	Safety Harbor	16,937	4.29	2.4	$133	0.02%	49.02%	$8.74	63.24
112	Niceville	13,217	3.64	-3.2	$129	3.19%	45.21%	$6.99	63.03
113	Tavares	14,133	3.65	2.3	$82	3.30%	48.17%	$11.18	63.01
114	Auburndale	13,814	2.65	3.8	$75	3.16%	49.58%	$11.13	62.99
115	Lake Wales	14,480	4.08	-1	$66	4.29%	47.47%	$15.45	62.80
116	Anna Maria	1,556	1.21	-3.6	$329	5.49%	51.61%	$8.35	62.71
117	Fort Pierce	42,395	4.23	-2.6	$64	-0.20%	45.53%	$9.53	62.68
118	Newberry	5,083	0.76	-3.5	$105	5.28%	48.60%	$12.41	62.50
119	Destin	12,623	4.77	-1.2	$175	2.57%	44.94%	$4.79	62.44
120	Lake Mary	14,188	1.63	5.8	$118	4.69%	50.28%	$8.46	62.42
121	Ponce Inlet	3,045	3.33	1.7	$146	1.26%	50.57%	$12.38	62.28
122	Callaway	14,491	5.63	7.2	$74	-0.42%	46.66%	$5.90	62.28
123	Perry	7,046	0.20	2.3	$61	-0.52%	51.87%	$11.51	62.03
124	Key West	24,934	3.91	2	$356	2.13%	51.67%	$5.92	61.96
125	Juno Beach	3,233	4.38	4.9	$215	-0.31%	50.71%	$7.58	61.93
126	Mount Dora	12,514	3.72	3.1	$91	1.19%	48.40%	$10.40	61.92
127	Jacksonville Beach	21,562	4.96	-1.6	$173	0.60%	49.08%	$14.13	61.88
128	Dunedin	35,421	2.16	0.6	$102	0.04%	48.69%	$8.75	61.77
129	Indian River Shores	3,938	4.86	-0.4	$242	1.60%	46.53%	$4.56	61.69
130	Port Orange	56,585	2.73	2.1	$98	1.96%	48.65%	$10.58	61.52
131	New Smyrna Beach	22,775	3.15	1.1	$123	1.04%	48.25%	$9.46	61.50
132	Sebastian	22,154	1.78	-0.5	$84	4.31%	45.62%	$6.81	61.49
133	Bartow	17,570	1.47	0.8	$62	1.97%	48.26%	$10.86	60.96
134	Satellite Beach	10,241	5.13	2.8	$128	-3.23%	50.09%	$13.23	60.94
135	Tequesta	5,697	1.82	0.7	$166	0.97%	50.65%	$10.83	60.92
136	Panama City	36,205	3.63	1.1	$77	-1.60%	46.36%	$7.52	60.76
137	Rockledge	25,202	1.85	-1.8	$99	2.85%	47.43%	$11.27	60.76
138	Boynton Beach	69,257	4.04	1.5	$106	2.48%	47.66%	$12.68	60.75
139	Lakeland	98,970	2.92	3	$80	2.43%	48.21%	$11.53	60.73
140	Ocean Ridge	1,761	2.22	-3.6	$233	2.92%	48.90%	$10.13	60.67
141	Hillsboro Beach	1,588	5.78	1.4	$231	-6.92%	50.35%	$8.65	60.52
142	Marco Island	16,702	5.87	-0.6	$269	0.71%	46.17%	$5.52	60.49
143	Southwest Ranches	7,495	1.03	3.7	$176	2.64%	51.19%	$9.20	60.35
144	Leesburg	20,627	4.59	5.9	$65	2.43%	46.10%	$9.05	60.30
145	Lighthouse Point	10,550	0.11	0.7	$190	0.88%	51.58%	$8.85	60.28
146	Saint Augustine	13,271	1.96	-1	$104	2.88%	48.07%	$12.89	60.03
147	Debary	19,284	1.25	1.1	$88	1.13%	48.06%	$8.93	59.97
148	North Palm Beach	12,165	2.80	-0.9	$153	0.10%	48.87%	$11.65	59.96
149	Cocoa Beach	11,299	8.00	3	$150	-3.25%	45.89%	$9.89	59.93
150	Largo	77,898	4.37	1.4	$82	1.02%	45.62%	$10.22	59.84
151	Deltona	85,415	3.02	2.5	$65	1.48%	48.37%	$13.87	59.80
152	Clearwater	108,551	2.00	-0.1	$100	0.47%	47.78%	$10.17	59.74
153	Longboat Key	6,658	6.02	0.9	$326	-3.45%	48.81%	$5.23	59.59
154	Holmes Beach	3,941	5.48	3.3	$308	-4.71%	51.58%	$8.05	59.58
155	Belleview	4,546	1.19	-2	$91	0.66%	46.05%	$7.18	59.57
156	North Weeki Wachee	8,537	3.47	0.5	$65	1.66%	44.61%	$8.68	59.54
157	Orange City	10,823	3.29	3.2	$65	4.91%	46.74%	$13.47	59.36
158	Fernandina Beach	11,681	2.11	-1.1	$146	2.06%	48.23%	$11.85	59.22
159	Lake Park	8,251	1.60	-5.2	$105	0.52%	47.38%	$13.59	59.19
160	Pinellas Park	49,443	2.33	0.9	$80	1.37%	46.93%	$10.60	59.18
161	Indialantic	2,737	1.03	-2.9	$133	-2.84%	49.72%	$11.49	59.05
162	Winter Haven	34,561	1.98	2.5	$69	4.33%	47.43%	$12.66	59.03
163	Ocala	56,828	1.37	1.1	$61	1.39%	46.85%	$9.44	59.01
164	Lantana	10,669	3.86	5.9	$108	3.10%	46.28%	$8.02	58.96
165	Dunnellon	1,599	2.37	-2.7	$64	3.09%	43.97%	$10.33	58.61
166	Palm Bay	103,602	2.88	1.1	$64	2.94%	46.53%	$13.54	58.58
167	Sanford	54,170	1.32	8.4	$85	5.29%	49.72%	$11.70	58.45
168	Saint Petersburg	246,642	1.97	0.1	$112	0.38%	48.05%	$11.78	58.27
169	Casselberry	26,376	1.21	3.1	$88	0.52%	48.50%	$10.33	57.88
170	Daytona Beach Shores	4,272	3.48	1.5	$160	-1.48%	48.90%	$12.16	57.84
171	Riviera Beach	32,814	3.21	2.1	$163	1.01%	49.27%	$13.78	57.81
172	Eustis	18,820	2.51	2.9	$78	0.70%	47.64%	$12.31	57.66
173	Port Saint Joe	3,445	4.51	3.9	$141	-3.23%	47.70%	$9.33	57.58
174	Longwood	13,753	2.23	2.7	$105	-2.04%	48.46%	$10.38	57.46
175	Deland	27,399	2.13	1.3	$76	3.61%	46.42%	$13.12	57.35
176	Frostproof	3,020	1.62	1	$52	-1.76%	48.97%	$14.93	57.32
177	Gulf Breeze	5,924	1.27	2.5	$117	1.13%	47.20%	$8.07	57.15
178	Kenneth City	4,968	3.32	6.3	$37	0.26%	45.99%	$9.77	57.06
179	Bradenton	50,329	2.13	2.1	$109	-0.40%	48.28%	$12.20	56.86
180	Palm Beach	8,523	7.69	1.1	$367	-1.75%	47.02%	$8.03	56.42
181	Neptune Beach	6,702	5.79	7.1	$164	-4.94%	50.04%	$13.41	56.37
182	Cape Canaveral	9,934	0.61	-1	$113	0.30%	46.32%	$8.82	56.09
183	Arcadia	7,616	2.54	1.5	$61	1.59%	46.72%	$15.57	55.85
184	Plant City	35,398	2.41	0.2	$78	3.45%	43.73%	$10.45	55.83
185	Indian Harbour Beach	8,253	3.26	6.8	$113	-1.32%	48.19%	$10.71	55.69
186	Pensacola	52,268	1.40	-0.2	$76	-1.20%	46.39%	$11.27	55.63
187	Indian Rocks Beach	4,147	1.37	0.2	$251	-0.65%	48.55%	$7.01	55.58
188	Tarpon Springs	23,564	0.87	2.2	$100	2.14%	46.61%	$10.46	55.21
189	Orange Park	8,491	0.37	1.9	$87	-2.59%	48.71%	$11.24	55.19
190	Marathon	8,405	3.09	2.4	$250	-1.09%	46.98%	$5.42	55.13
191	Valparaiso	5,119	1.49	-2.1	$114	-4.25%	45.68%	$7.81	55.12
192	Crestview	21,659	0.69	0.4	$82	7.36%	43.03%	$9.14	55.03
193	Lake City	12,111	0.65	4.1	$66	-1.61%	48.70%	$12.00	54.95
194	Melbourne	76,768	1.97	1.4	$81	0.06%	46.04%	$12.22	54.70
195	Atlantic Beach	12,783	1.96	0.9	$177	-1.42%	49.12%	$13.36	54.69
196	Alachua	9,165	1.69	4.1	$88	5.25%	46.47%	$14.10	54.57
197	High Springs	5,422	1.71	7.4	$84	4.49%	48.02%	$14.75	54.15
198	Mary Esther	3,968	0.60	0.6	$100	0.38%	44.15%	$5.93	54.06
199	Edgewater	20,799	3.49	4.2	$79	-0.32%	45.65%	$12.75	53.98
200	Daytona Beach	61,622	0.54	0.4	$76	-2.04%	47.20%	$13.11	53.32
201	Tallahassee	183,638	0.35	0.4	$105	3.84%	45.31%	$12.01	53.10
202	Brooksville	7,728	4.42	2.3	$68	-1.98%	43.53%	$12.65	52.70
203	Avon Park	8,862	0.96	5.2	$51	-1.15%	44.90%	$7.40	52.63
204	Okeechobee	5,613	3.51	-5	$62	-1.68%	42.60%	$16.29	52.42
205	Zephyrhills	13,693	2.65	6.1	$65	2.84%	44.65%	$13.00	51.94
206	Mulberry	3,838	1.90	8.9	$73	1.48%	47.82%	$15.27	51.33
207	Titusville	43,902	2.40	2.6	$64	-0.22%	43.87%	$12.51	51.19
208	Palmetto	12,769	1.68	3.9	$96	-0.65%	45.70%	$12.02	51.09
209	Fort Walton Beach	19,962	1.25	4	$92	-0.12%	44.52%	$9.06	51.03
210	Hypoluxo	2,610	0.83	2.2	$121	4.11%	43.09%	$8.68	50.95
211	Gainesville	125,845	1.14	3.6	$92	1.27%	45.56%	$13.17	50.67
212	Cocoa	17,196	2.17	4	$73	-1.46%	43.92%	$10.89	50.07
213	South Daytona	12,277	2.51	5.7	$69	-3.87%	45.95%	$13.28	49.76
214	Sebring	10,399	1.12	0	$59	-1.52%	43.12%	$12.09	49.42
215	Inverness	7,230	1.29	-2	$59	-1.23%	41.54%	$11.68	48.90
216	Flagler Beach	4,576	3.86	7.5	$138	-4.59%	46.30%	$12.42	48.75
217	Port Richey	2,685	1.09	0.7	$47	-4.69%	43.89%	$12.30	48.57
218	New Port Richey	14,985	3.19	5.5	$77	-3.66%	45.68%	$16.44	47.95
219	Palatka	10,532	1.24	4.8	$58	-1.24%	46.48%	$17.75	47.92
220	Holly Hill	11,665	0.13	8.1	$57	-2.76%	47.37%	$13.41	47.76
221	Lake Clarke Shores	3,427	0.36	8.5	$130	0.15%	45.87%	$11.06	45.98
222	Highland Beach	3,582	2.18	3.9	$271	-1.24%	44.04%	$8.73	44.32
223	Shalimar	717	0.45	-0.5	$109	-16.72%	43.83%	$5.29	43.82
224	Crystal River	3,095	0.99	7.2	$70	-5.47%	41.45%	$8.99	41.00
225	Bradenton Beach	1,138	2.40	5.3	$261	-21.63%	47.94%	$8.63	38.36
226	South Palm Beach	975	0.07	-0.8	$138	-24.36%	44.09%	$9.10	35.23
227	Lake Placid	2,228	0.47	11.3	$63	-17.36%	44.51%	$10.75	34.22

Methodology

The score for each city was derived from the following measures:

Market health score. This score is an average of Zillow’s 2014 market health score for each city, along with U.S. Census Bureau figures on changes in vacancy rates. Zillow’s Market Health Index uses a combination of 10 variables, including housing value recovery and median days on the market, to measure the health of a city’s housing market relative to others in the state. The quicker a house sells, the higher the score — a 10 is the highest. This is 30% of our score.
Affordability. Using data from Zillow, we negatively indexed a house’s cost per square foot in each city to find how much a buyer could get for their dollar. The higher the score, the lower the cost per square foot. To avoid seasonal fluctuation, we averaged data from the 24 months of 2013 and 2014. This is 20% of our score.
Growth score. Using data from Zillow and the 2013 American Community Survey, we averaged the percentage of houses that increased in value over the past 10 years, along with growth in population since 2010. This is 40% of our score.
Tax rate. Using data from the Florida Department of Revenue, we calculated the combined city and county property tax rate for each place. All tax rates are per $1,000 of assessed valuation. This is 10% of our score.