As one of the top states to invest in the USA, Florida is one of the Southeast states with the most substantial population growth. Its proximity to both domestic and international markets have seen a significant multifamily investment activity. Investors are targeting value-added transactions in these markets, especially in Orlando, Jacksonville, and Tampa.
According to the World Population Review, Florida is the 3rd state with the largest population in U. S., 21,99 million, and a civilian labor force of 10.2 million, the 3rd largest in the U. S. Chief Executive magazine rank Florida Second-Best State For Business. Now over 12,000 manufacturing firms in Florida, the state has made a big push to promote more production in the last few years. The Sunshine State has over 331,000 manufacturing-sector workers, and the U. S. fifth-lowest corporate income tax.
Florida’s infrastructure allows manufactured goods to reach their destination comfortably. The multi-modal transportation system provides everything from air and rail to deep-sea shipping and highways, all at low living costs and low business costs. Besides, the Military and Defense Industry delivers $95 billion economic impact.
The growth of tourism and the labor market in leisure and hospitality generates a large share of renter households with a population growth of 2.4% and household growth of 3.4%. The demand for rentals is unprecedented, with ten years of record rents, and low-vacancy record as well.
All these facts make of Florida, the Sunshine State, a perfect place for multifamily investment, with a booming economy, easy access to international and domestic investors, strong demand, and tremendous opportunities on the multifamily market.