The prospect of flipping houses in Florida looks sunny. With steady population growth and a housing market that has calmed to a more reasonable level, opportunities are plenty.
Florida’s population keeps growing, and the number of residents is expected to continue expanding for at least the next 10 years. The population will likely reach near 25 million by 2032, according to the Demographic Estimating Conference. Plus, the state enjoys an ongoing healthy lift from tourism, with more than 104 million people visiting in 2022, according to the Florida Tourism Bureau.

Opportunities for flipping homes can be found throughout Florida, and “the best” opportunities may not be concentrated in one particular city. Your target area should consider population growth and increases in median home values, and of course, the type of home you want to flip. Here are five Florida city suggestions that you might have not considered.

Cape Coral

Year-over-year population growth: Up 3.17%

Median home sale price: $400,000

Year-over-year home price growth: Up 13.9%

Not too far from the Gulf of Mexico, sits the southwest Florida city of Cape Coral. The city is one of the more expensive areas in Florida, but home values have steadily increased for the most part over the last few years.

Both the population and employment are expected to grow significantly in the area over the next few decades. In fact, after the most recent census, Cape Coral was rated one of the fastest-growing areas in the country. As the population grows, demand for housing will continue to grow as well, making this a great city for flippers to get to work.

Jacksonville

Year-over-year population growth: Up 1.31%

Median home sale price: $279,900

Year-over-year home price growth: Up 7.1%

Sitting on the Atlantic coast in Northeast Florida, Jacksonville is an attractive place to live, with its beautiful beaches and Florida charm, without being too touristy.

While other places in Florida have seen the real estate market flooded with listings after the market slowed down a bit, Jacksonville is still seeing prices steadily go up.

Orlando

Year-over-year population growth: Up 1.8%

Median home sale price: $350,000

Year-over-year home price growth: Up 9.7%

Orlando is not only the home of Disney, but it’s also a great place to live. Livability.com rates the city as a top 100 place to live. With a population of over 2 million, there will continue to be plenty of people looking to buy homes, creating steady demand in the Orlando housing market.

Pensacola

Year-over-year population growth: Up 0.28%

Median home sale price: $265,000

Year-over-year home price growth: Up 5.1%

A beach town adjacent to the Gulf of Mexico, house flippers will discover many opportunities in this area. Pensacola not only has a growing population and steady home value growth, but it also boasts a low unemployment rate. As of December 2022, the rate was 2%. This is significantly lower than the overall U.S. unemployment rate of 3.4%. Low unemployment indicates a strong economy that will create continued demand in the housing market.

Tampa

Year-over-year population growth: Up 1.17%

Median home sale price: $380,000

Year-over-year home price growth: Up 8.2%

Tampa has a high median home price, but you can still find many homes in the area with lower prices. With various neighborhoods, the city has plenty of chances for house flipping. You will also find a strong economy in Tampa with the unemployment rate at 2.2% as of December 2022. And the city has plenty of tourism and varied industries to keep the economy fueled.

Is house flipping profitable in Florida?

The average profit you can make on a flip varies from season to season, and every flipper has some properties that make higher profits than others. After a season of rapid price appreciation in the Florida housing market, many new real estate investors are scared to make an investment.

However, there are plenty of opportunities for profitability in the market, if you look. Profit margins for flips have gone down throughout the country, but that doesn’t mean house flipping isn’t profitable at all. The typical profit margin (the difference between the median purchase price paid by investors and the median resale price) for a flip in Q3 of 2021 was 31.8%. In Q3 of 2022, the average flip had a profit margin of 25% in the Sunshine State, in profits translates to a typical profit of $62,000 per flip. 

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