Orlando and 5 More Florida Cities That Will Retain Their Real Estate Value
Written by
Terence Loose
Edited by
Angela Corry
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Florida’s real estate prices are not known to be the most stable. In fact, a number of factors conspire to make Florida’s real estate market sometimes as mercurial as the state’s weather.
Alexei Morgado, a longtime Florida Realtor and CEO of Lexawise real estate exam prep, cites such things as hurricanes and insurance rate fluctuations depressing demand in high-risk areas, in addition to the seasonality of tourism, short-term rental market fluctuations and, of course, economic swings.
“Florida’s real estate market can be volatile, that’s a fact,” said Mogado.
However, he added, “with its sunny weather, job opportunities, and no personal income taxes, Florida always attracts new residents.”
And that has resulted in many Florida cities enjoying a modicum of stability. Here are six Florida towns that Morgado said make Florida one of the best markets for long-term investment.
Sarasota
- Median Sold Price: $515,531
- 12-Month Change: +1.1%
Located in Southwest Florida, in the Greater Tampa Bay area, people flock to Sarasota for access to the warm waters of the Gulf of Mexico, its beachy vibe, fine dining and entertainment. Morgado said Sarasota stands out for its stability in Florida’s real estate market. The county grew by more than 21% from 2010 to 2022, according to USA Facts.
The area “continues to be in high demand, especially among retirees and high-net-worth individuals,” Morgado added.
Naples
- Median Sold Price: $639,140
- 12-Month Change: +3.2%
A resort town on the water on Florida’s Paradise Coast, there’s a lot to love about Naples. Pedestrian walkways, restaurants, art galleries and shops are just some of the city’s many attractions. Naples is also known for its golf courses, white sand beaches and water sports. It’s no surprise that the city holds its value.
“Luxury and retirement destination Naples is still prospering,” said Morgado. “Limited inventory and consistent demand from wealth migration out of the northeast drive appreciation rates.”
He added that the appeal of Naples has increased due to its exclusive market dynamics, which place it in a better position to be less vulnerable to broader market volatility.
Fort Myers
- Median Sold Price: $373,994
- 12-Month Change: +2.9%
“Fort Myers represents a perfect blend of affordability and resilience,” said Morgado. “The median sale price of under $400,000 offers an attractive avenue for younger families and retirees alike.”
Although the city got hit hard by Hurricane Ian, Morgado said that the city rebounded with robust rebuilding efforts that drove new construction and property value appreciation.
With nature preserves, beaches, nearby islands, arts and culture, the city has enough to attract a broad spectrum of homebuyers.
Orlando
- Median Sold Price: $393,946
- 12-Month Change: +5.0%
Probably best known for its many theme parks — Disney World, SeaWorld, Universal — and myriad other family fun attractions, Orlando is a city whose attractions also create stability, said Morgado.
“Orlando is a diverse and vibrant real estate market. With impressive rental yields, the city finds itself in the middle of booming tourism and an expanding job market,” Morgado noted.
He added that Orlando’s diversification into tech and healthcare are two factors that dampen the impact of more general market fluctuations.
“Orlando is one of the best examples of market stability,” Morgado said.
Gainesville
- Median Sold Price: $310,076
- 12-Month Change: +4.7%
If you want to rub elbows with college students and enjoy a mix of rural and suburban, Gainesville has it. According to U.S. News, Gainesville has a quirky feel to it thanks to the flourishing art scene, and is in an area ripe with natural springs.
“Gainesville brings affordability and steady growth to Florida’s real estate landscape. With a median home price of $310,000, it is one of the most stable housing markets in the state,” said Morgado.
He added that the University of Florida drives year-round demand for rentals and sales and Gainesville has enjoyed a reassuring slow and steady growth in 2024.
Jacksonville
- Median Sold Price: $307,139
- 12-Month Change: +2.4%
In addition to its beaches and water activities, Jacksonville also offers residents camping, hiking and cycling options within its state parks and preserves, according to U.S. News. The area also offers homeowners an attractive investment, Morgado shared.
“Jacksonville represents a perfect balance between affordability and growth prospects,” he said. “The diversification of Jacksonville’s economy through industries such as logistics, tech, and healthcare secures this city’s ongoing housing demand.”
He added that, because of the city’s developing infrastructure, investors favor it for long-term stability.
*Median Sold Price and 12-Month Change data taken from Rocket Homes November 2024 Housing Market Reports for each city.
More From GOBankingRates
