Monday, May 14, 2007

 

Florida Apartment Rental Outlook

The largest number of new residents migrating to Florida are younger and working class as opposed to the impression that the majority are 55 year old and up retirees. Owning a Florida home may not be an option, so many of these workforce age residents choose renting. As realtors who specialize in sales and rentals, Conquer Realty is able to help people moving to Florida despite a dwindling inventory of available rental units.

According to an article in the Florida Real Estate Journal key factors promise growth in Florida apartment rentals for the next several years based on comments from industry analysts.

Consider this excerpt from the FREJ website about demographic and economic trends in Florida apartment rentals.
Steady population growth, coupled with favorable economic trends, should ensure continued strength in Florida’s apartment market for a least the next several years, industry analysts say.

"The main thing in overall growth is that the past three years have all been over 400,000 in terms of population increase," said Dr. Stan Smith, University of Florida professor and director of the Population Program.

"This is one of, if not the largest, three-year period in Florida’s history," Smith said.

The perception that it’s primarily retirees moving to Florida is false, Smith said. "The largest number of people moving to the state are working age. Florida has one of the highest rates of job growth in the U.S."
The real estate agents at Conquer Realty are aware of this trend, and prepared to help area residents, as well as people moving to Florida, find practical rental housing for almost any budget.

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