New data from Zillow Research has shown that almost every neighborhood in Florida experience year-over-year growth. However, as a savvy investor, you don’t want just a good investment. Ideally, you want to place your money in the best neighborhoods that are experiencing the highest growth. Here’s where you should look if you want to invest in Florida real estate.
According to Bizjournals, the number one, leading neighborhood is East Ybor, in Tampa. It saw a huge 19.19 % growth from last year. That may be partly because Tampa is experiencing a huge wave of young homebuyers. East Ybor’s success is boosting nearby neighborhoods, so if you can’t get quite into East Ybor you can look nearby. Or, join us as we explore the other fastest growing neighborhoods in Florida.
Clam Bayou, St. Petersburg
This neighborhood’s impressive growth rate is just under East Ybor’s, at 18.3%. It’s a suburban neighborhood directly on the coast, with a ton of amenities and parks. It’s as much an investor’s delight as it is a good place to raise a family.
Highland Oaks, St. Petersburg
St. Petersburg is booming in general, as this second neighborhood indicates. Highland Oaks also has a massive year-over-year increase, of 18.02%. It’s just east of Clam Bayou and not coastal but does have access to Lake Maggiore. This is a good opportunity to get into a booming market at a lower price point.
Highland Pines, Tampa
We’re back to Tampa in our fourth most impressive Florida neighborhood. Highland Parks saw a 17.28 year-over-year increase in 2019. While it has a strong suburban core, this central-Tampa neighborhood is more mixed-use than many others on this list, with commercial, industrial, and park pockets.
Oakford Park, Tampa
Oakford Park saw a 14.93% year-over-year growth. It’s a bit of a drop-in growth from Highland Pines to Oakford Park, but it’s still impressive and well above average. Well east of Highland Pines, but in West Tampa, Oakford Park has higher average home prices.
Brickell is the hottest neighborhood in Miami, with a 14.91% year-over-year increase. It is also easily the most affluent neighborhood on our list, with a median home value of $1,268,000. It’s a mainly commercials coastal neighborhood with direct access to highway 95. If you’re looking to make a big commercial or residential investment with high growth potential, this may be your best opportunity.
Riverside Heights, Tampa
Our fourth neighborhood in Tampa, Riverside Heights, has seen huge year-over-year growth of 14.32%. The median home value in the neighborhood is $269,533, reflecting that there are both high value and more affordable investments in the area.
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