5 Best Neighborhoods for Investment Properties in Orlando, Florida
In this article, I'll explorer some of the top neighborhoods in Orlando, Florida.
Orlando in Florida is so much more than a top destination for travelers worldwide, it is also an ideal city to purchase an investment property. There are many neighborhoods throughout Orlando for all real estate investment strategies no matter what exactly you are looking for. Today we will have a look at 5 of the best neighborhoods within Orland to purchase an investment property. These will be looking at the safest areas as well as the best areas for property appreciation. Orlando is a vibrant area that is evolving to be a real hotspot for renters of all ages.
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1. Lake Nona
Lake Nona is a master planned community that is surrounded by beautiful lakes, and it is an area that is in high demand for renters. Property values are increasing in value, and you will find it easy to get a long-term, quality tenant for any sized property. The area is popular for medical residents, and there are a number of Fortune 500 companies that are located in the area.
In Lake Nona you will find many different properties including family homes, bungalows and gated communities. The neighborhood is situated right near the Orlando International Airport, just southeast of the city center. According to Zumper, the average rent for a 1 bedroom apartment in Lake Nona is $1,450 per month, and 36% of households are renter-occupied.
2. Winter Park
Winter Park is a neighborhood in the Orlando area that has seen increasing rental prices, and it looks to continue rising as it is vibrant with shopping and upscale dining locations.
Winter Park is known for its outdoor spaces, and is the site of the Mead Botanical gardens, and is situated just north of the city center, so attracts a higher class of tenants. According to Zumper, the average rent for a 1-bedroom apartment in Winter Park is $1,175 per month, and 35% of households are renter-occupied.
3. College Park
College Park is an up-and-coming neighborhood in Orlando that is showing great promise to become really in demand with quality renters. It is a popular destination for millennials and young families, and many people move there because of the character it has being so close to the central business district in Orlando.
College Park is known for its 20th century cottages and being situated on Lake Ivanhoe. It is filled with hip boutiques and is situated just north of downtown Orlando. According to Zumper, the average rent for a 1-bedroom apartment in College Park is $1,565 per month, and 35% of households are renter-occupied.
4. Baldwin Park
Baldwin Park has the ideal location of being nestled between the popular neighborhoods of Downtown Orlando and Winter Park and is popular with renters and homebuyers because it truly has everything you would need at your doorstep.
It is one of the smaller neighborhoods in Orlando, and its proximity to the Orlando VA Medical Centre and Lake Baldwin means that rentals are in high demand. According to Zumper, the average rent for a 1-bedroom apartment in Baldwin Park is $1,586 per month, and 52% of households are renter-occupied.
5. Curry Ford West
Curry Ford West is somewhat of a hidden gem and tends to be unknown for out-of-town investors, but it is highly sought after by millennials, thanks to the older block style rental properties. There are lots of new restaurants and bars being developed in the area, and it looks to only increase in value in the future.
Curry Ford West is situated just southwest of downtown Orlando before the airport in the Lake Terrace region, and it is a good location for those who like the hustle and bustle of the city, but what a more suburban feel. Home prices in the Curry Ford West Area range from $200,000 to $500,000. It is not a neighborhood as such but the area consists of the best up and coming areas including Conway and the Hourglass District (Source: The Listingrem).
Orlando is an investors dream, however while there are definitely some areas that should be avoided, there are also some amazing neighborhoods that are loved by investors and are looking to only increase in value as time goes on. If you are looking to invest in real estate in the Orlando area, then you will want to check out properties in any of these neighborhoods, and you will be certain that your investment will be a good decision if you are looking for steady appreciation or a consistent rental income.
Charles is the founder of infoSpike.com. He enjoys real estate investing, marketing, and personal finance. Read more about Charles here.