Florida’s population has been growing for years now and COVID-19 has only heightened our population growth. Not everyone who moves to Florida wants to relocate to one of our larger cities, which is a positive for all of the second- and third-tier markets around the state.
We are seeing some secondary markets getting more and more attention from investors as they start to take notice of their recent explosive growth. A few that come to mind include Lakeland, Ocala, Sarasota and the Space Coast. A portion of the growth these markets are seeing is driven by new development projects that are creating jobs and bringing new industries to the market, which is in turn encouraging people to relocate for their careers. With Florida’s favorable tax laws, the warm climate and our award-winning beaches, I expect this trend to continue for years to come.
— Zach Ames, Senior Director, Multifamily Investment Sales