We assure you that Florida is one of our most beloved states in the whole wide world! Why, would you ask? Besides its prominent natural beauties, it offers plenty of profitable business investment opportunities. Are you particularly interested in the housing market in 2021? You will not believe it, but our favorite state features two cities where real estate is booming even during the pandemic with Okeechobee and Fort Lauderdale. Let us take a heartfelt trip in the sunshine and discover the most market-friendly cities!
Florida through the magnifying glass
Florida, the Sunshine State, is the third-most-populous American state. It turned into one of the most trendy tourist-friendly destinations in the United States. Mainly featuring a humid tropical climate, almost all regions of Florida are a virtual magnet for travelers looking for spectacular landscapes, sunshine, beaches, and the ocean. Searching for heaven is a place on Earth; people found Florida. No wonder that you can find top retirement destinations in Florida too.
The state is on ‘fire’ when it comes to providing more than decent living conditions for all. It excels in the beautiful condition its streets are kept in; the overall neatness of the cities is exemplary, showcasing the cleanest cities in Florida. And, although the state doesn’t do particularly well in terms of public safety overall, there is a long list of the safest cities in Florida.
Florida business prospects look promising
However, the Sunshine State also assumed the reputation of hosting business-friendly cities due to their immense popularity.
Today, Florida’s vast population and economy provide the state with significant clout in national politics. In addition, the state was a virtual battlefield in presidential elections, most notably in 2000. People acknowledge Miami, Orlando, and Tampa as a worldwide metropolis. Moreover, the global cities are Latin America’s and the Caribbean’s cultural and economic centers. Florida hosts some of the most outstanding colleges in the country, with its front runner, the University of Florida, ranked among the top ten public universities in America. The Sunshine State is also one of the top ten states regarding government, healthcare, best school districts, and economic prospects.
Do you wish to come to this slice of paradise to invest in a business? Let’s investigate some of the most enterprise-friendly cities in Florida!
St. Petersburg
St. Petersburg is the most successful city in Florida, according to the Credibly Business Index. St. Petersburg received an Index grade of 79 based on the overall health of its approximately 5,500 small enterprises and its unprecedented survival rate: just 22% of small businesses in St. Petersburg fail during the first two years.
Let’s have a look at the housing market in the city! Since the 2008 great economic recession, the real estate business in St. Petersburg, FL, has experienced significant growth. It currently boasts one of the most incredible rates of property appreciation in the country. Real estate trends in St. Petersburg after some minor bumps along the road triggered by the global pandemic still look promising. Find out more about your housing options from the local real estate agents in Saint Petersburg FL.
Boasting an extensive waterfront, St. Petersburg developed a booming marine science division. In addition, the financial service sector in the city is the largest in Florida, which is another essential reason to choose the City of Arts, St. Petersburg.
Tampa
With an almost 30-minute-drive away, St. Petersburg and Tampa are practically inseparable. The friendly contest between the two cities goes back a long way. Both cities excel in a thriving job market and low unemployment rates.
The Health Care & Social Assistance businesses are the most significant employers in both cities, while the utility industry provides the top paid jobs in both Tampa and St. Petersburg. Millennials looking to start their career with a private enterprise choose Tampa, as a trendy destination, with an entrepreneur community that will happily give all the assistance required for startups.
With a median house price of $300,000, Tampa, FL, has a robust real estate market that appears to be more profitable in the future. You may obtain better knowledge of the Tampa real estate market by contacting some of the finest local real estate agents in Tampa FL.
Fort Lauderdale
Fort Lauderdale has a winning streak in the boating industry, manufacturing, and maintaining yachts. The job market in the city has experienced a growth of 1.9%. The most frequent jobs residents hold are management occupations, sales & related occupations, and office and administrative support occupations.
In terms of the local economy, tourism accounts for the majority of Fort Lauderdale’s GDP. The city is a well-known tourist destination, with travelers coming from all over the country to enjoy its numerous gorgeous and pristine beaches. Regularly, over 13 million tourists visit and go each year!
Home prices are reasonable, property appreciation rates are strong, and there is a lot of diversity in the housing market. Fort Lauderdale has a median house price of approximately $350,000 in 2021, somewhat pricier than the national median home price. Compared to cities of the same size, this median home price is pretty low! By no means should you let this stop you from purchasing a house in Fort Lauderdale. Ask for professional advice from our top realtors in Fort Lauderdale FL!
Miami
No list would be complete without the Magic City. Life in Miami is famous for its unique star gazing experiment, the Hollywood Beach Boardwalk, and desperate adventurers still searching for buried treasures. For the majority of its history, Miami’s economy has been built on tourism. The city was only active during the winter months for long, when snowbirds, tourists from freezing northern states swarmed to its beaches, hotels, and resorts.
Nevertheless, commerce is becoming progressively crucial to the economy. Because of its closeness to Latin America and the Caribbean, Miami is a hub for international trade with those regions.
Another expanding sector of Miami’s economy is its international banking industry. About 100 commercial banks, foreign institutions, and Edge Act banks in downtown Miami, constituting the greatest concentration of national and international banks on the East Coast south of New York.
Miami-Dade County, where Miami occupies the county seat, passed the so-called Targeted Jobs Incentive Fund available to businesses listed on the county’s list of industries with promising future contributions to the local economy. Another important enticement is the Grow Miami Fund which offers longstanding and low-interest allowances to qualifying small enterprises ranging from $50,000 to $2 million. Under such circumstances, the real estate market is flourishing. Why don’t you investigate your housing options with the local realtors in Miami FL?
We already saw how most of Florida’s cities do well during and after the pandemic. Miami is no exception: the Miami housing market breaks records despite Covid-19.
Jacksonville
The city’s economy’s strength rests on its vast diversity. Jacksonville has more waterfront than any other city in the United States, with 1,100 miles of shoreline and 22 miles of beaches. As a result, the Bold New City of the South has a large deepwater seaport, which enabled it to become a top port in the United States for automotive shipments, and the state’s largest transport and distribution hub.
In addition, in the city of Jacksonville, FL, logistics, banking, and financial institutions thrive. One indeed finds a bright career in media and technology, biomedical technology, manufacturing consumer products, information services, insurance, etc. These industries propel Jacksonville’s financial world turning it into an economic center.
The economy is thriving in the city. ‘Incriminating’ evidence for this is the fact that four of America’s 500 most powerful corporations, present in Fortune 500 companies, have headquarters in Jacksonville, namely CSX Corporation, Fidelity National Financial, Fidelity National Information Services, and Southeastern Grocers. We hope you consider relocating to the Bold City. For this purpose, seek out professional advice from our house-hunter-friendly real estate agents in Jacksonville FL.
Naples
Naples, Florida, is part of the wealthiest cities in the Sunshine State and one of the best places to live in Southwest Florida. In addition, Naples boasts the country’s second-highest proportion of millionaires per capita. The city’s economy is mainly dependent on tourism, even though it was initially an agricultural village that began to prosper with housing market development.
According to a Bloomberg News report, Florida’s retirement communities are seeing economic growth due to a rise of Baby Boomers, and Naples is the city with the highest economic growth in the United States.
The real estate business in Naples, Florida, does look up-and-coming. Rising new house prices are a factor in higher prices for older homes. For the most up-to-date information on promising housing options, seek out one of our local real estate agents in Naples FL.
The greatest industries in Naples, FL, welcome a motivated new workforce in the Retail Trade, Health Care & Social Assistance, Real Estate & Rental & Leasing. In addition, the following domains that offer salaries above the national average industries in Naples are the following: Finance & Insurance, Professional, Scientific, & Technical Services, and Wholesale. It is truly worth living in Naples, FL.
Conclusion
Every large, and even the majority of small cities provide a sure footing for businesses across Florida. They welcome a talented and hard-working workforce, as well as new investors, and startup companies. To assure a long-term relationship with new enterprises, they pass financial incentives with low-interest rates.
We highly recommend the Sunshine State. Explore as many world-famous cities as possible. Or did you find it already? Tell us about your observations on business prospects in the cities in Florida in the comment section below! We wish you all the best of luck in finding the most business-friendly location!
If you liked this article, share it with your friends on your social media! And as always, come back for more economic analyses from RealEstateAgent.com!
