Florida continues to be a fast-growing state. Ranked as the third most populated state in the U.S., Florida's population increased by 478,386 from 2019 to 2020, making it the fifth fastest-growing state.
That growth is expected to continue after the pandemic. During that time, many people decided to buy second homes or move to warmer climates, attracted to the cost-of-living, lifestyle, and warm weather of Florida. But now, the appeal of many cities is attracting homeowners, renters, and investors long-term.
Where are these newcomers settling? Which markets are especially hot for buyers, renters, and investors?
The Top Five Growth Cities Every Florida Real Estate Agent Must Know
Analyzing the latest Census data, Strategistico compiled this list of fastest-growing cities in Florida. But keep in mind that savvy agents and brokers are constantly seeking out data and trends that give them a competitive edge. In this volatile market, new opportunities often arise.
1. Parkland
With a boom in the population of 52% from 2010 to 2020, Parkland is clearly an attractive area. This upscale community is near Fort Lauderdale and Miami and has a park-like atmosphere. Small and relaxed, the city boasts a wide range of outdoor and cultural features.
The school system is high-quality, and Parkland is close to both the beach and cities. Parkland is an affluent community, and the median price of a home this year was $870K, with some houses listed at as much as $4M.
Although the home inventory is smaller than other communities in Florida, agents and brokers can certainly make a great living by focusing on this area.
2. St. Cloud
St. Cloud home prices skyrocketed 27.7% in 2021 compared to last year. The median sales price was $350K, according to Redfin. The city's population grew a whopping 57%, which is impressive for a community that spans only 20 miles.
Very convenient for travelers, the city is just 30 minutes away from Orlando International Airport. Surrounded by three lakes, it has a historic district, giving it small city charm with the benefits of a modern lifestyle. "Celebrating Small Town Life" is, in fact, its motto.
And although the median home price is modest compared to other communities in Florida, prices represent a significant increase from the prior year, according to Zillow.
3. Doral
Sunny and close to Miami Beach, this city not only grew 43% (from 45,712 residents to 66,741 residents), but it has also been featured as one of America's best places to live by Money Magazine.
Doral has both an urban and suburban feel. New mixed-use living and entertainment complexes have sprung up, bringing in new residents and several big companies. Univision, the Miami Herald, and Carnival Corporation all attract new residents to this booming city.
The typical home value is $400,046, up an impressive 14.5% from last year.
4. Fort Meyers
Dropping in position from #1 to #4 this year, Ft. Meyers has retained its appeal to retirees as well as families. It's located in Southwest Florida on the Caloosahatchee River.
The job market in Fort Meyers is solid, with growth above the national average. Its comfortable temperatures and affordable real estate make it attractive to homebuyers and renters of all ages, although it still holds a solid position (#7) on the U.S. News Best Places to Retire list.
Called "the City of Palms," Fort Meyer's median sold home price is $305K. Consisting mostly of newer homes, the area offers options for buyers and renters of all types and presents great opportunities for today's Florida real estate agent and those considering getting a license.
5. Bonita Springs
On Florida's Gulf Coast, Bonita Springs is a beach city that also has attracted many retirees. Its current population is 49,637, up 36% from 2010. It is located just south of Fort Myers (see above).
Its beautiful beaches and laid-back lifestyle make it appealing to residents. Home prices have trended up 30% year-over-year and range from $20K to more than $17 million. The median home price is currently at $547K.
What About the Large Metro Areas?
The areas described above are all relatively modest in size. Big cities in Florida are still booming as well. It is just being outpaced by the exceptionally high demand in Florida's smaller cities and beach communities. Jacksonville, Miami, Tampa, Orlando, and St. Petersburg are all large, vibrant, and growing, and the real estate market around them will continue to thrive.
Demand for real estate exists in Florida’s metro areas, but it is being outpaced by the exceptionally high demand for Florida’s smaller cities. The experts agree that the entire state of Florida is a hot and booming market.
Today’s home buyers often look for more living space, including home offices and outdoor space, which has led to the appeal of smaller and more affordable communities, like those listed above.
Now is definitely a great time to get into a real estate career or grow your current client base. Get your Florida real estate license online and start your new career as a licensed real estate agent.